Bentley Commerce's Global Trade Marketplace Expands to Australia Tuesday April 26, 6:00 am ET
SARASOTA, FL--(MARKET WIRE)--Apr 26, 2005 -- Bentley Commerce Corporation (OTC BB:BLYC.OB - News) (www.bentleycommerce.com), the leader in Internet-based and point of purchase barter and trade, has established a joint venture with Platinum Traders Pty Ltd in Queensland, Australia, to promote and market Bentley Commerce's trade exchange Management System and Global Trade Marketplace throughout Australia. They join Bentley Commerce's network of barter exchanges in the United States, Canada, Malaysia, Thailand, Colombia and South Africa. Australia's new online barter exchange will enable its members to trade their real estate, products and services to a new marketplace of buyers, manage their trade account online, and use the trade they earn from new sales to expand and improve their business or enhance their lifestyle.
Members of Platinum Traders will have their own online trading site (http://platinum.vbarter.com) with access to the product and service offers available through Bentley Commerce's Global Trade Marketplace. This internet-based barter marketplace features the product and service offers from 80 independent exchanges that represent about 18,000 companies, as well as about 160 exchanges that represent approximately 50,000 members that are affiliated with Bentley Commerce's Trade Exchange Network.
"We selected Bentley Commerce for its superior technology as well as access to its large and growing international trade marketplace," said Darryl Loane, Platinum Traders' Managing Director. "We anticipate that over the next three years we will rapidly expand across Australia, adding about 40 additional local offices and thousands of new members to our group."
"The principal staff of Platinum Traders," said Mr. Loane, "are very experienced in both retail barter and property trading, with prior property sales including trade components of up to $7 million Aus. The Australian Market is small but entrepreneurial and has taken well to trading over the last 15 years, since it was first introduced to the country. Platinum expects to sell approximately 200 properties utilising trade dollar deposits in its first year under the new alliance. Properties will be available to international as well as Australian members."
"We feel that Australia provides an ideal business climate for the rapid expansion of online barter and trade," said Bruce Kamm, Bentley Commerce's CEO, "as it has already experienced phenomenal growth in barter over the past 15 years. This alliance in Australia should bring new real estate and international trading opportunities to our members and exchanges. Our ability to provide countries, as well as international companies with their own branded online trade exchange opens a wealth of opportunities for new revenue generating opportunities for these exchanges as well as for Bentley Commerce."
About Bentley Commerce Corporation:
Bentley Commerce Corp. is a business-to-business, Internet e-commerce Company that launched its seamlessly integrated family of online barter services in 2004 to establish a new global trade marketplace for businesses to easily engage in real-time online barter and trade. Through its proprietary VirtualBarter software, it processes barter transactions over the Internet or at the point of sale, between member companies, even if they are members of different exchanges. A growing number of independent trade exchanges, currently totaling 88, with about 18,000 companies that trade through them, have access to Bentley Commerce's global trade marketplace and trade exchange network featuring close to half a billion dollars in product and service offers available for trade.
With the exception of historical information, this news release and accompanying information may include forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various risks. There are numerous factors that could contribute to such differences, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results. For more information about this corporation and risks involved in the investment of their publicly traded shares, please see the company's website(s), and/or documents filed with the SEC, which are easily accessible in the EDGAR database system.
Question for the board - the following was released. CAn someone explain it to me.
Does this mean Bentley sold shares directly to an investor (and those shares were created increasing O/S). What was the price? Less than market?
Yesterday i bought 3mm shares on the open market. Could i have just called Bentley and said, I want 3mm shares and they could have sold them to me for a price less than .0021?
thanks in advance for comments
Form 8-K for BENTLEY COMMERCE CORP -------------------------------------------------------------------------------- 27-Apr-2005
Sale of Equity
Item 3.02 Unregistered Sales of Equity Securities The following sets forth certain sales of unregistered securities since the Company's last periodic report. These securities were issued without registration in reliance upon the exemption provided by Section 4(2) of the Securities Act of 1933 and/or Regulation D.
On April 26, 2005, the Board of Directors accepted a subscription agreement from Lenore Scott for the purchase of 500,000 shares of its unregistered restricted common stock. This issuance was intended to be exempt from registration under section 4(2) of the Securities Act of 1933.
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Bentley Commerce Corp. Announces Results for Its Third Fiscal Quarter Ended March 31, 2005 Tuesday May 24, 6:00 am ET
SARASOTA, FL--(MARKET WIRE)--May 24, 2005 -- Bentley Commerce Corporation (OTC BB:BLYC.OB - News) (www.bentleycommerce.com), the leader in Internet and point of purchase barter and trade, announced financial results for its third quarter ended March 31, 2005, of fiscal year 2005. Revenue for the nine months was $379,744 (2196% higher), Operating Expenses were $1,978,442 (43% lower) and Operating Loss was $1,598,698 (53% lower) than the same period in the prior year. ADVERTISEMENT
For the three months ended March 31, 2005, Bentley Commerce's revenues were $103,628, an increase of 599.2% as compared to $17,293 for the three months ended March 31, 2004. The increase was due to an increase in trade volume among its affiliated exchanges that resulted in the Company earning more fees during this period, as well as obtaining and utilizing earned trade dollars to offset expenses that would otherwise be paid in cash.
Operating expenses for the three months ended March 31, 2005, were $703,315, a decrease of 69.6% as compared to $2,316,383 for the three months ended March 31, 2004. This decrease was primarily attributed to consolidating and centralizing the Company's operations at one facility, enabling the company to provide a higher level of customer service while significantly reducing operational costs.
The increase in revenue and the decrease in operating expenses resulted in a 73.9% decrease in the loss from operations that was $599,687 for the three months ended March 31, 2005, compared to $2,299,090 for the three months ended March 31, 2004.
For the nine months ended March 31, 2005, revenues were $379,744 compared to $17,293 for the nine months ended March 31, 2004, a 2195.9% gain. Operating expenses for the nine months ended March 31, 2005, were $1,978,442, down 42.7% compared to $3,452,200 for the nine months ended March 31, 2004. Loss from operations for the nine months ended March 31, 2005, was $1,598,698 a 53.4% decrease compared to $3,434,907 for the nine months ended March 31, 2004.
"Earning revenue in fiscal 2004 in a company that in prior years had none, is one of the key milestones we attained," said Bruce Kamm, Bentley Commerce's CEO. "Being able to do this while substantially decreasing operating expenses is indicative of our management's focus. Couple this with about $500 million in product and service offers in our Internet-based global trade marketplace, and we anticipate a very promising future for Bentley Commerce."
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