posted
huge news this morning, this is gonna run all day plus the conference call is today, and a possible gapper for 2morra....
Snap N' Sold Closes Acquisition of HotAutoWeb.com Wednesday September 14, 6:30 am ET
PALM HARBOR, Fla.--(BUSINESS WIRE)--Sept. 14, 2005--Snap N' Sold Corp. (Pink Sheets: SNPD - News) announced this morning that it has closed the highly-anticipated acquisition of HotAutoWeb.com. The profitable Snap N' Sold subsidiary has posted sales in excess of $9,665,000 over the past 2.5 years and currently has over $1,000,000 million in listings on eBay. The company is also projecting an additional $250,000 in HotAutoWeb listings in the coming week alone. ADVERTISEMENT
Snap N' Sold Chairman, James G. Grady, commented, "The acquisition of HotAutoWeb and its related portfolio of internet domains represent the dawning of a new era for all Snap N' Sold stakeholders. The buzz around the company is almost impossible to convey. It truly is awe inspiring." He continued, "Demand for this service is consistently expanding on its own even though its capacity has largely been constrained to-date by a lack of administrative support and field representation. We have concluded that we will be able to add significant scale and capacity to the operation through our new National Regional Representative Program, which we believe will result in geometric sales increases almost immediately. We will also apply upward pressure on cash flow and profit margins through the implementation of rigorous cost control initiatives."
Brian Hanold, the Founder and President of HotAutoWeb, concurred. "This transaction is the embodiment of a 'Win - Win' acquisition. As a part of the Snap N' Sold family, both HotAutoWeb and the other sites in development will have access to the resources and additional expertise necessary for a true national and international expansion. HotAutoWeb's business back-log can finally be realized at a level of service that our customers have come to expect, thus expanding our already stellar reputation in the business community."
The company also reiterated this afternoon's timing for the previously announced investor conference call. The conference call will take place after the market close at 4:30 EST and the company will put out a mid-day press release with the dial-in and access code instructions for shareholders and all others who would like to listen in.
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Snap N' Sold Closes Acquisition of HotAutoWeb.com 
