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C-ME.com Narrows Quarterly Net Loss PASADENA, Calif., November 16, 1999 -- C-ME.com (OTC-BB: CMEE), a business-to-business service provider to the retail industry, today announced that its net loss narrowed by 12 percent from $130,441 for the quarter ending September 30, 1998 to $116,792 for the quarter ending September 30, 1999. For the quarter ending September 30, 1999, C-ME.com's revenue was $10,150 versus revenue of $17,535 for the quarter ending September 30, 1998. Net loss for the quarter was $116,792, ($0.019) per share, compared with a net loss of $130,441, ($0.025) per share for the quarter ending September 30, 1998. The reduction in loss is attributable primarily to an increase in interest income. "Our financial statements for the first quarter reflect the completion of our IPO in July of this year," said Frank Yuan, chairman and CEO of C-ME.com. "In addition," continued Yuan, "we have strengthened our management team with the addition of President John F. Busey and Executive Vice President William Butler. The Company is now positioned to focus on the execution of its business plan." Formed in 1996, 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 ("ISN"), 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 and the Virtual Trade Show ("VTS"), a vertical marketplace for vendors to display their product in an open environment. 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. |