Interview with the CEO

 

What could be a more bullish sign for a public company than its CEO buying back a ton of shares? Very little, and the fact that the CEO/President of SoftNet has recently purchased 767,000 shares of STTC in the open market speaks volumes about his commitment and belief in the company's prospects.  That in turn generally instills confidence in employees, business partners, analysts, shareholders and we expect, our readers.  But what’s his motivation?

Here’s what we know. In real estate, it's always been “Location, Location, Location!”   In the 1990s technology boom, it was “Platform, Platform, Platform!”  After the Internet stock bubble burst and the market sorted out the strong from the weak, things settled down and a new term gained prominence in technology circles: “Search Engine.” As Yahoo grew and eBay became interactive, tech visionaries could see that “Engine, Engine, Engine!” was the market's newest money making mantra. 

In this millennium, the growth of Google and Ask Jeeves has proven that a good search engine can be a terrific money maker for its owners.  SoftNet Technology, has its own proprietary commerce search engine that operates the innovative WholesaleByUs. (SoftNet acquired WholesaleByUs ("WBU") on July 9, 2004). 

As SoftNet changed its name and trading symbol to meet its new business model in August of this year, management chose to retain one of the Company's best performing products, instead of selling it off.  STTC created a Solutions Technology subsidiary that would be solely dedicated to the Company's SecureTime® biometric payroll system.  That's insight - and industry insiders liked the way SoftNet handled the transition and retention of a prime revenue stream. 

So, the company now includes a search engine that Internet retailers can use to their benefit and a biometric ID system for securing work areas and producing complete payroll accuracy… in addition to their present ventures.

SoftNet is already operating in the Restaurant Industry and the Casino Industry with its SecureTime® software (can hospitals and hotels be far behind?) and the recent launch of  the WholesaleByUs web site utilizing the Company's proprietary search engine is a clear indicator that the Company is on track, moving ahead, and generating sales.  The aggressive nature of SoftNet's management and the products SoftNet has in operation may well warrant bookmarking their symbol and watching what happens.

 

About SoftNet Technology

SoftNet Technology has two wholly-owned subsidiaries - Solutions Technology and WholesaleByUs. 

Solutions Technology’s SecureTime® software application offers a complete Biometric turnkey program for a small or mid-sized company that needs to collect time and attendance, scheduling, entitlements, and personal/pay records. With a seamless interface to payroll services, it provides the client with one of the most cohesive time and attendance management systems available anywhere. The software also secures critical work areas and high rise office buildings by  positively identifying employees and workers, and the program works in tandem with doorlocks and surveillance cameras to prevent any unauthorized access. 

SoftNet Technology's WholesaleByUs Web site is an actual operating demonstration of the Company's proprietary search engine software.  SoftNet is bringing its search engine to online retailers that want dynamic processes on their Web site instead of the ordinary static pages currently in use by so many sellers and resellers. 

 

SoftNet Subsidiaries Products

 

"We are committed to growth and maximizing shareholder value."
SoftNet CEO and President, Jim Farinella

a

WholesaleByUs

Revenues are currently at $30,000 per month
Q3 revenues surpassed $120,000
 Q4 estimated revenues are expected to surpass $250,000 
 

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The SecureTime® System requires 

no investment in hardware - no licensing fees - no maintenance contracts
no purchase upgrades - no IT staff to operate

and provides a seamless interface to payroll services 

 

   SECURE TIME

What do hospitals, hotels and transportation companies have in common? 

The need for time management and identity verification.

For example, the hotel industry needs a system that can handle gratuity and free food for its employees.  Hospitals need a system that can schedule staff and nurses in accordance with government rules and regulations.  The system must be flexible to accommodate overseas markets, which may have totally different requirements than the U. S. market. 

Most countries pay wages on a monthly basis; thus their rules for overtime and penalties are totally different.  Solutions Technologies has designed its software to be completely data based, modular and multi-lingual addressing ALL of these concerns. 

1) Identity Verification (tracks resources precisely, by location). 
2) Secure Site Access (controls alarms, turnstiles, entries and/or doors). 
3) Time & Attendance (calculates labor hours and exports to payroll).
4) Always efficient (without costs associated with ownership). 

 

WholesaleByUs believes that commerce can be greatly improved by an integration of multiple companies. The integration allows for greater volumes of products to be moved between the manufacturers and end users. This process cuts into the traditional distributor chain. For example, a Walgreen's in El Mirage, Arizona, sells a single CR2 Lithium battery for a digital camera for $8.59 plus tax. Whereas WholesaleByUs sells two CR2 bateries delivered to the customers location for $5.35 total - with shipping included.  To allow for the skepticism, they are for the same name branded batteries.

Management at WBU realized they were onto something good in the beginning when a representative from COBRA electronics visited the Company in 2003 and stated WBU was seriously starting to affect the brick and mortar companies.  After a brief conversation with WBU management, the visiting representative changed his opinion and was able to understand how the efforts of WBU were expanding the overall market share of COBRA.

* Manufacturers Are Given A New Distribution Chain
* Increased Market Share For Manufacturers
* Costs To Consumers Are Reduced 
* Identical Name Brand Products
 

 

Recent News From SoftNet Technology

 

Click on this LINK to see today's BREAKING NEWS on STTC
 

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Press Release Source: SoftNet Technology Corp. 
Monday October 11, 2:30 pm ET 

STTC Wholly Owned Subsidiary, WholesaleByUs, Initiates New Marketing Concept  By Placing Over 4,400 New Products On Amazon.com

BERNARDSVILLE, N.J., Oct. 11, 2004 (PRIMEZONE) -- SoftNet Technology Corp. (OTC BB:STTC.OB - News) announced today that WholesaleByUs (WBU) has made additional technological advancements that has enabled WBU to expand product Distribution on Amazon.com.

It is anticipated that a minimum sale of 10% from these 4400 products will be achieved. The minimum expected sales will approximately add a $50,000 immediate increase in sales per month on top of the approximately $25,000 already being generated by WBU. This minimum of a10% increase does not take into account the increase in sales anticipated by the WBU staff for the upcoming holiday season. This expansion will continue to enhance WBU revenue and should lead to STTC far outpacing revenue projections heading into 2005.

Based on the historical sales data from the 2003 holiday season, when WBU only sold through EBay, sales for the combined company should easily surpass $150,000. However, this does not take into account the product additions that will be added to the WBU offering by year-end. In fact, WBU plans on having 10,000 plus products offered by the end of this week alone on EBay and Amazon combined. Expansion to more web portals is expected shortly.

The initial concept was to test 100 products, with the initial list on Thursday of last week. However, after reviewing the process, and the IT department developing the software connection to post in a more efficient manner, WBU posted an additional 4400 products on the Amazon site. This explosive development is yet another feat that furthers shows the talent and potential for growth exhibited by WBU.  To read the complete release, the link is Here

 

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Press Release Source: Softnet Technology Corp. 
Monday October 4, 2:00 pm ET 

SoftNet Technology Corp's CEO/President has now Purchased 767,000 Shares of STTC in the Open Market

BERNARDSVILLE, N.J., Oct. 4, 2004 (PRIMEZONE) -- SoftNet Technology (OTC BB:STTC.OB - News) announced today that the President and CEO has now purchased more than 750,000 shares of STTC in the open market. The company's CEO purchased 150,000 shares during the last week of September. 

This now marks the 4th time in just over one month that the CEO of STTC has purchased shares in the open market. Even though the President/CEO has already acquired such a large position, he informs the company that he intends to further add to his purchases.  To read the complete release, the link is Here

 

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Press Release Source: Softnet Technology, Corp. 
Friday September 24, 9:00 am ET 

SoftNet Technology Finalizes Acquisition Of WholesaleByUs, LLC

BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Sept. 24, 2004--SoftNet Technology (OTCBB:STTC - News) announced today that SoftNet Technology and WholesaleByUs, LLC (WBU) has entered into a final binding agreement to complete the acquisition of WBU. An audit of WBU is being completed and a final payment of $37,000USD will be paid upon the completion of the audit. To read the complete release, the link is Here

 

The SoftNet Management Team