AutoTradeCenter.com Inc. Expands Operations
23 May 2000
AutoTradeCenter.com Inc. Expands Operations
SCOTTSDALE, Ariz.--May 23, 2000-- AutoTradeCenter.com Inc. (OTC BB: AUTC) Tuesday announced that it will add two new offices by Sept. 1, 2000 for its wholesale operations subsidiary Auto Network Group.The new offices will be located in Houston and Hartford, Conn.
AutoTradeCenter.com, with these additions, will have seven offices in six states.
"Adding the Houston and Hartford markets to our existing operations brings us two steps closer to our goal of establishing a national network of physical locations," stated company President Roger L. Butterwick. "Our land-based operations have been the foundation of our business.
"Our physical network complemented by our state-of-the-art, Internet-based business-to-business technology solutions uniquely positions the Company as a full service provider in the wholesale automobile industry."
Butterwick continued, "Our fiscal 2000 (year end March 31) revenues were generated almost entirely through our wholesale operations in Arizona, New Mexico and, toward the second half of the year, Oregon.
"We have already more than doubled the size of our operations with the addition of four offices this year. Trailing twelve month revenues are expected to at least double last year's revenues, based on the sites already opened."
AutoTradeCenter.com is the leading Internet-based "business-to-business" automotive wholesale and remarketing company.
On its web site, www.autotradecenter.com, the company markets its service to its national dealer base, to automotive lease and rental companies, and to banks and financial institutions across the U.S. who can use the site's many features for more efficient buying, selling and trading.
The company also owns the Web site www.tradeincarsonline.com through its subsidiary BusinessTradeCenter.com Inc. TradeinCarsOnline is the first Internet Service to allow a consumer purchasing a new vehicle online to receive a firm purchase bid on his trade-in vehicle.
For more information on AutoTradeCenter.com Inc., please visit www.autotradecenter.com or www.dejong.org.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995.
The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby.
Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.