VMHIF - NEWS!
Virtual Media Holdings Inc. Continues to Expand Partnerships
Steve Gaspar, president of Virtual Media Holdings Inc. (OTCBB: VMHIF) is pleased to welcome Wal-Mart Inc., Shop.com and JR.com to VMHSales.com as featured merchants joining our growing list of Merchant Partners.
Mr. Gaspar states, "The addition of these companies puts VMHSales.com one step closer to being the one stop place to shop on the Internet. Buyers can shop with confidence and are able to compare prices on currently more than 9,000,000 active product listings available for sale at one location. Development is currently underway to expand the line of products offered on VMHSales.com to include non media related products and services. Our goal is to offer almost every item available for sale. With already in excess of over 9 million active product listings for sale on our Marketplace, I expect that the 100 million active listing mark is not far off as getting 9 million listings took only a matter of a few months. As far as I can see, we have just scratched the tip of the iceberg regarding active listings. Looking ahead at potential revenues -- using the example of having 100,000,000 active listings for sale over a one year period and assuming that we achieve only one sale on just 10% of our active listings over a one year time frame, netting an average commission of $1 per sale -- gross profits over this period would equate to $10,000,000. Another important thing to note would be that under our new high-tech, low overhead and no inventory business model this figure would not represent gross values of products sold on our sites but just commissions collected by the company. I want every shareholder to know we are working diligently to build a very valuable piece of Internet Real Estate. VMHSales.com is quickly becoming the Epicenter of Internet Entrepreneurialism."
About Wal-Mart Inc:
Wal-Mart Stores, Inc. the world's largest retailer, operates Wal-Mart Stores, Super centers, Neighborhood Markets and SAM'S CLUB locations around the world.
About Shop.com:
SHOP•COM is the multi-merchant marketplace designed to help consumers more conveniently and efficiently shop on the web. SHOP•COM organizes millions of products from more than a thousand merchants in a single location, allowing consumers to shop across them all -- start to finish -- with One Cart(TM) and one personal password-protected account.
About JR.com:
J&R brings the best in electronics, computers and more directly to you, from a company you can trust. From our stores in Downtown New York City, J&R has been providing customers with a combination of price, selection, security, and service for over 30 years.
About Virtual Media Holdings Inc:
Virtual Media Holdings Inc. (OTCBB: VMHIF) is committed to changing the way merchants and consumers interact on the Internet. Through its proprietary marketplace platform, a custom-built software framework that facilitates the direct consumer-to-consumer and business-to-consumer buying and selling of new and pre-owned merchandise, the system combines a customized content management system with core order processing engines adapted to each unique market. The content management facilities support the creation of a comprehensive web-based user community for a specific market, including features such as session management, product reviews, live aggregated retail prices, forums, and community feedback. Order processing modules support market inventories, authenticated order processing, billing, order tracking, commissions, and other market-related tasks. Companies can achieve both increased web presence and revenues by partnering with VMHSales.com and using the company's unique e-commerce platform.
Safe Harbor Act Notice:
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise. For further information about the company go to: www.vmhif.com
Source: Market Wire (November 9, 2006 - 9:20 AM EST)
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