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CYBER MERCHANTS EXCHANGE ANNOUNCES QUARTERLY RESULTS PASADENA, CA - February 11, 2000 - Cyber Merchants Exchange, d.b.a. C-ME.com (OTC-BB: CMEE), a business-to-business service provider to the retail industry, today announced its financial results for the quarter ending December 31, 1999. For the second quarter ended December 31, 1999, the Company had revenues of $31,525 as compared to $14,505 for the same period last year, an increase of 117 percent. The Company reported a net loss for the second quarter ended December 31, 1999, of $227,658 , as compared to a net loss of $107,356, for the same period last year. The increase in revenue is due to an increase in subscriber fees for services. The increase in net loss is a result of higher general and administrative expenses attributable to personnel additions and the continued implementation of the Company's business plan. "Our second quarter was fast-paced and productive," said Chairman and CEO Frank Yuan. "During this period, we continued to implement our business plan. We have added several key individuals to our management team and subsequent to the end of the quarter, announced a significant addition to our board of directors. We also created a new joint venture, C-ME.com/Taiwan, and licensed our Linux-based software to this entity. In addition, we established targeted marketing, advertising and investor relations programs to communicate our story to potential customers, shareholders and investors." Cyber Merchants Exchange, Inc. d.b.a C-ME.com's (www.C-ME.com) mission is to create the retail industry's solution for global merchandise sourcing activities. The company builds and maintains Internet Sourcing Networks, private extranets that enable retail buyers to streamline front-end merchandise sourcing activities from their desktops. C-ME.com's current retail partners include Factory 2-U Stores (NASDAQ: FTUS) and Burlington Coat Factory (NYSE: BCF). The Company also provides its subscribing vendors custom web design and hosting, the Virtual Trade Show - ("VTS"), a vertical marketplace for vendors to display their product in an open environment, and direct international merchandise sourcing through C-ME.com/Taiwan. Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors including the risks associated with the effect of changing economic conditions at home and abroad, variations in cash flow, reliance on collaborative retail customers, reliance on intellectual property legislation, use of proprietary un-patented technology, dependence on the Internet and on new product development, variations in new product and service development, risks associated with rapid technological change, and potential of introduced or undetected flaws and defects in products and services and other risk factors detailed in forms filed with the Securities and Exchange Commission from time to time. |
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