Communicate.com Inc. (OTCBB:CMNN) today announced that it has received the fifth $200,000 payment from Manhattan Assets Corp. towards the purchase of Automobile.com, Exercise.com, Call.com and Makeup.com for $1 million. Communicate.com will receive a lifetime five percent royalty from the four domains sold to Manhattan Assets following this final acquisition payment.
A recent amendment to the original agreement saw Call.com replace Body.com as one of the four URLs sold--resulting in Communicate.com maintaining ownership of Body.com.
"We are pleased to conclude the sale of these URLs and we will continue to promote these sites, as the royalties will add significantly to our bottom line," said David Jeffs, President of Communicate.com."
Communicate.com also announced that it used part of the $200,000 payment to repay $50,000 of its $150,000 loan, and will utilize the rest to boost marketing for its online retail stores heading into the lucrative holiday season.
More information on the above-mentioned URL sales agreement can be found in Communicate.com's regulatory filings with the U.S. Securities and Exchange Commission, including the Company's most recent annual report on Form 10-KSB and quarterly report on Form 10-QSB.
About Communicate.com:
Communicate.com is an emerging growth internet company that owns, develops and operates more than 25 intuitively branded top-level eCommerce websites, including Perfume.com, Malaysia.com, Karate.com and Importers.com. Our online brands are highly recognizable and instantly credible, and include the following categories: health & beauty, travel, sports/lifestyle, telecommunications and consumer electronics. Communicate.com's network of B2C and B2B websites intuitively attracts approximately one million visitors and potential clients per month with no marketing costs, giving us a competitive advantage in customer acquisition and price. For more information, please visit www.communicate.com.
This news release contains "forward-looking" statements, as such term is defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ from those expressed or implied herein. Further information on potential factors that could affect the financial results of Communicate.com is included in the Company's filings with the U.S. Securities and Exchange Commission.
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