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 purchased over 1 million 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.

"Solutions Technology, Inc. (STI) offers a customized biometric system as a service that integrates fingerprint recognition security seamlessly into virtually any business. The system will dramatically minimize a company’s risks, streamline its processes, track its resources, and trim its labor costs."

Overview

SoftNet Technology (OTCBB: STTC) is a technology based company that through has two wholly-owned subsidiaries - Solutions Technology and Wholesalebyus. Solutions Technology’s plan centers around the company's ability to offer a complete Biometric turnkey solution 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. Wholesale By Us provides Internet sales predominately via Ebay. The system is designed to sell products with minimal labor costs attached to the product. The largest product line is electronics, but is not limited too. Wholesalebyus also sell ceiling fans, water fountains, media accessories, and car components.
 

Profile

Solutions Technology, Inc.
 

Solutions Technology, Inc. (STI) provides biometric identification solutions that easily integrate into customer business processes, and optimize several areas of business management that due to issues of security and inefficiecy, have historically squeazed companies’ profitablility. These areas include: identity verification, secure site access, and time & attendance. Furthermore, the company, through its experienced management team, has developed a business model that will allow the company to completely eliminate the complexity and the cost of ownership for its customers. The combination of the STI tehnology and revolutionary business model have it positioned to provide a value proposition for businesses of any size, that will simply be difficult to beat.

The first part of the Solutions Technology equation, that seperates the company from others, is that STI offers its positive identification verification systems as a service. In other words, STI customers do not need to make an investment in hardware, software licensing, maintenance contract, spare parts. The customer will never need to purchase upgrades, and will never need an IT staff. The SecureTime System is simple to adopt, making it unique in an industry that due to the high cost of ownership and the complexity of biometric systems, has made it impossible for many companies to implement a solution that meets all of their needs.

STI also has developed proprietary technology, unmatched in its industry. Solutions Technology, Inc. (STI) offers a customized biometric system as a service that integrates fingerprint recognition security seamlessly into virtually any business. The system will dramatically minimize a company’s risks, streamline its processes, track its resources, and trim its labor costs. The STI system generates the secure data transactions and the reports that companies must have in order to raise the standards for security and efficiency of its business processes.

SecureTime® biometric solutions utilize cutting edge technologies that identify, capture, and manage these resources and other demand information. The system enables clients to supervise and control their resources precisely and become more efficient, directly affecting their bottom line.

The system consists of two key components: stand alone biometric terminals and a back office suite of software services managed by STI. The terminals operate independently at your site and are synchronized via internal modem or Internet access. Each biometric terminal verifies identity while recording a time-stamped transaction. The configurable back office suite performs data collection and report generation in a variety of formats, media types and delivery methods. Furhtermore, STI’s new SecureTime Online allows a business to get its own reports at any time from anywhere.

Typical applications for the flexible SecureTime® system are:
 

• Identity Verification (tracks your resources precisely, by location)
   
• Secure Site Access (controls your alarms, turnstiles, and/or doors)
   
• Time & Attendance (calculates labor hours, exports directly to your payroll service)

WholesaleByUs

WholesaleByUs (WBU) is a web-based, application server based software system that looks to take advantage of the boom in internet commerce. In fact, Google's IPO focused investor attention on the growth of the overall search engine marketplace, while Shopping.com's IPO helped focus investor attention on comparison shopping search. WBU looks to take advantage of this burgeoning industry through its proprietary technology that optimizes every aspect of the internet marketplace. The WBU system gives customers the ability to provide suppliers, manufacturers, retail stores and the like, exponentially expanded visibility and awareness for their products.

Distribution and sale of manufacturer, supplier and retail outlet products utilizing the WBU technology for distribution and sale dramatically increases awareness and visibility for these products through different portals on the Internet. WBU's technology allows the companies that supply the products for sale through the WBU system to benefit from increased product offerings at no additional cost. The process simply cuts through the shopping search clutter to bring, the lowest retail price.

How Wholesalebyus Works
 

Product descriptions and prices are mass uploaded by WholesaleByUs to Amazon, and to eBay, as “buy it now” items. Product descriptions and prices are also uploaded to WholesaleByUs's web site. Upon order receipt, products are ordered from a manufacturer's or distributor's inventory usually within a day. Products are generally shipped to the buyer with three days of order receipt. If an item is out of stock, the buyer's money is refunded immediately by WholesaleByUs.

In the short existence of one year, WBU has been able to reach the Platinum seller status on eBay. WBU has been able to achieve and maintain a 99.5% satisfaction feedback rate or higher on eBay. The shopping cart created by WBU has integrated a back end system to process orders, inventory, Purchase ordering system, sales tracking and an email system.

Just over a month ago, STTC's new wholly owned subsidiary, Wholesalebyus.com was offering only 150 products for sale on eBay.com. In just one short month, WBU has expanded its ability to provide increased exposure for other companies' products on the Internet to Amazon.com and eBay.com. Now, the product offering has increased over 6600% to more than 10,000 products. The genius displayed by the WBU management is not just in increasing the product offering, but increasing it at no additional cost to the companies that supply the product for sale through the WBU system.
 

SoftNet Technology Generates Record One Month And One Quarter Revenue

Bernardsville, NJ, March 30, 2005 – SoftNet Technology (OTCBB Symbol: STTC) (German WKN#: A0B7RZ) is pleased to announce today that the Company has and will generate more revenue than ever recorded in a 30-day period for the month of March. Additionally, the Company will also record more revenue, in the first quarter than ever recorded in any one Quarter before.

Two of SoftNet Technology’s wholly owned subsidiaries, Indigo Technology and WholesaleByUs, have ramped up their operations in the past 90 days to accelerate revenues at a quickened pace. Each of these two subsidiaries will generate their best performance, for one quarter (this first quarter), in their respective histories. More impressive is that Indigo and WBU each will have generated more than 50% of their total revenues for the quarter in just the month of March. SoftNet Technology as a company is expected to generate approximately $200,000 in sales for just the month of March – the best one month in the history of STTC.

STTC’s wholly owned subsidiary, (WBU) www.wbushopping.com, individually will generate record revenues for the month of March. Total Internet sales will far exceed $150,000 for the month. More astonishing is the fact that more than two thirds of the revenues generated in March were generated in the second half of the month. This is made possible from all of the technology and procedure changes that were made in December 2004 and January 2005. However, total recorded revenue, for the quarter, will be calculated using only sales of products that have been shipped to the customer. All sales not recorded in the first quarter will carry over to the second quarter.

Other Company news - STTC subsidiary Solutions Technology has hired sales people in an initial effort to begin a large-scale rollout of the SecureTime System. Final programming adjustments are being made as well for SoftNet International GmbH in preparation of turning the WBU System live in foreign countries with products for sale from those foreign jurisdictions. The Media Blitz with TVA productions has begun and will ramp up and be in full swing over the next 30 days.

“It took a few months to get things going strong again after the shutdown in early December. But, sales are now back up and even above the levels that we experienced in November of 2004,” said Mr. James M. Farinella, CEO/President of SoftNet Technology. “We have added new programmers and management positions that will ensure continued accelerated and stable growth for the overall Company.”