The CEO mentioned that the expansion Of WBU to the European Community expected shortly provides for optimism heading into the New Year. Unlike most retail companies that experience a drop off in sales after the Holiday Season, STTC actually expects to increase sales from December to January.
This expectation to expand to the Canadian and European markets much sooner then previously anticipated leads to better than expected results in 2005. However, a renewed excitement by STTC's CEO about the Company's other wholly owned subsidiary, Solutions Technology, is being cited as the main reason for the purchases made this week.
"The development of Wholesalebyus has been tremendous," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "However, I am just so excited by what is transpiring with the SecureTime Biometric System. The sales for the SecureTime System should really begin to accelerate in the coming year."
Form 4's have been filed as required with the SEC and can be viewed by going to the Company's website www.softnettechnology.com. Then click on the link for SEC Filings. Please visit our website at www.softnettechnology.com for more information or call the company directly at 866-898-4842 (local - 908-204-9911).
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statement due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.