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Cyber Merchants Exchange Announces Quarterly Results Pasadena, CA May 15, 2000 - Cyber Merchants Exchange, d.b.a. C-ME.com (OTC-BB: CMEE), a business-to-business service provider to the retail industry, Monday announced its financial results for the quarter ending March 31,2000. For the third quarter ended March 31, 2000, the Company had revenues of $218,120 as compared to $9,105 for the same period last year, an increase of $209,015. The Company reported a net loss for the third quarter ended March 31, 2000, of $133,780, as compared to a net loss of $160,274, for the same period last year. The increase in revenue was mainly due to the sale of technology to C-ME.com/Taiwan, on which the Company recognized $210,000 in revenue. The decrease in net loss is attributable to a $209,015 increase in revenue and $182,252 increase in operating costs and other expenses. The complete quarterly report will be available at http://www.edgar-online.com. "Our third quarter brought measurable accomplishments and increasing global momentum," said Frank Yuan, Chairman and CEO of Cyber Merchants Exchange. "During this quarter, we strengthened our Board of Directors and added a Chief Operating Officer and Corporate Secretary," continued Yuan. "Domestically, we implemented aggressive sales and marketing strategies that are now beginning to show strong results for our retail partners." "We are pleased to have been recently chosen by RETEX, the nation's largest retail technology buying consortium as their exclusive provider of Internet based merchandise sourcing," continued Yuan. "This designation allows us to market our Internet Sourcing Network to more than 2100 RETEX member retailers. RETEX was founded by 10 retailers including Barnes & Noble, The Gap, Brookstone, Charming Shoppes, Liz Claiborne, Trader Joes, Musicland and General Nutrition Centers. And, we believe this designation also shows our value to retailers, as we join their notable list of current business partners: MCI WorldCom, Lockheed Martin Corporation, National Processing Corporation (NPC), Hughes Network Services, Audit-Tel, Avista Advantage, Creative IT Solutions, Alliance Data Systems, International Check Services, Vialog Group Communications, and Retexsupply.com." "Internationally, during this quarter we formed joint ventures that expanded our operations to Taiwan, Thailand, the Philippines, Myanmar (Burma), Vietnam and Cambodia," said Yuan. "We also have signed letters of intent with local corporations in Hong Kong and the People's Republic of China, to form joint ventures in these countries. These new international joint ventures will open numerous local merchandise sourcing offices, expanding direct sourcing opportunities for our current and future retail partners." The mission of Cyber Merchants Exchange, Inc. d.b.a. C-ME.com (http://www.C-ME.com) is to use its proprietary web-based software to create a global business-to-business e-commerce solution that streamlines the way retailers locate viable merchandise sources. C-ME.com's current retail partners include Factory 2-U Stores (NASDAQ: FTUS) and Burlington Coat Factory (NYSE: BCF). The company also provides vendors with custom web design and hosting, and the Virtual Trade Show TM ("VTS"), a vertical marketplace for vendors to display their product in an open environment. The company is also forming joint ventures in the Pacific Rim to facilitate direct international merchandise sourcing for its U.S. retail partners. 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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