parts.com Becomes Fully Reporting Company
29 February 2000
parts.com Becomes Fully Reporting Company Company Clears SEC Comments on Form 10-SB
SANFORD, Fla., Feb. 28 -- parts.com, Inc. (formerly Miracom
Corporation) (OTC Bulletin Board: MIRME), a leading real-time business-to-
business e-commerce parts exchange, announced today that the Company has
cleared comments with the Securities and Exchange Commission (SEC), thus
maintaining its listing on the Nasdaq OTC Bulletin Board. parts.com received
notification from the SEC that its Form 10SB/A has met all of the requirements
necessary to attain full reporting status. The updated registration now
ensures that parts.com meets the National Association of Securities Dealers'
(NASD) policies, which require that companies file and clear a registration
statement with the SEC as a precondition of eligibility to maintain a
quotation on the OTC BB.
"We believe that we have taken a very important step, as we continue the
rapid growth of parts.com. The industrious work of our Chief Financial
Officer, legal counsel, and outside accountants was instrumental in completing
the process of becoming fully reporting, for which they should all be
commended," stated Shawn D. Lucas, Chairman and co-CEO of parts.com, Inc.
"At this time, I would also like to thank our faithful shareholders, who have
stayed the course and remained confident. parts.com's skilled management team
is now in position to lead the Company to fulfill its great potential -- as
our loyal shareholders both expect and deserve. Now that we have completed
this monumental task, we truly believe that we are in a position to take our
company to the next level," concluded Lucas.
The Company expects that the "E" will be removed from its trading symbol
over the next few days and shortly after the filing of its Annual Report on
Form 10-K, the Company plans to prepare and file a Nasdaq application. There
can be no assurance that the Company's Nasdaq application will be approved.
About parts.com
parts.com provides a business-to-business e-commerce solution for the
$600 billion worldwide auto parts industry. The parts.com site creates value
for all participants throughout the supply chain, including manufacturers,
distributors and parts buyers. This value is a direct result of the unique
parts.com "just in time" business model, which eliminates a number of
inefficient links in the supply chain inherent in the auto parts business.
The proprietary parts.com technology and logistics plan enables parts
suppliers to deliver their product more quickly and cost-effectively than
through traditional channels of distribution. parts.com was officially
launched on January 23, 2000 at the National Automobile Dealers Association's
(NADA) annual conference in Orlando, Fla.
(This news release includes statements that may constitute forward-looking
statements pursuant to the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Although parts.com, Inc. believes the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurance that its expectations will be
met. Factors that could cause actual results to differ materially from
parts.com's expectations include the operational performance of parts.com, the
Company's success in entering into strategic alliances, parts.com's
operational and financial performance, industry conditions, demand for its
products, and other risks.)
