Hot Web, Inc. Retains Shareholder and Independent Consultant as Interim Officer and Director
Date : 11/03/2008 @ 10:09AM
Source : MarketWire
Stock : Hot Web Inc. (HWBI)
Quote : 0.0012 -0.0007 (-36.84%) @ 8:30AM
notice names involved here:
George Stevens
Presage Partners LLC and its Managing Director, Jason Cooper
Brass Bulls
matt
Brass Bulls Investor Relations
Matthew Lovito
866-342-2700
Hot Web, Inc. Retains Shareholder and Independent Consultant as Interim Officer and Director
BOISE, ID -- (Marketwire) -- 11/03/08 -- Hot Web, Inc. (PINKSHEETS: HWBI) announced today that it has retained the services of Presage Partners LLC and its Managing Director, Jason Cooper, to serve as Hot Web's Interim CEO and Director.
Presage Partners LLC has been engaged to provide an independent review of and make short-term recommendations for Hot Web's current business lines, review and introduce potential acquisitions or joint venture partners and to provide transitional management while the Company recruits a new executive management and operations team.
Along with being a long-time shareholder of Hot Web, Mr. Cooper, a 15 year Wall Street veteran, has managed Presage Partners LLC, a boutique capital strategies consulting firm, since 2004. Prior to managing Presage Partners, Mr. Cooper served as a operational consultant to the Venture Capital community and as a sell-side Wall St. professional for several noted regional broker dealers.
Jason Cooper, managing Director of Presage Partners LLC and Interim CEO of Hot Web, Inc., commented, "For the past year, Hot Web has been refining its business model and expansion initiatives. The Company is at the point that it now needs joint venture partners and a management team that is capable of exponentially growing its various auction portals internationally."
Mr. Cooper further stated, "In today's economic environment of oversold assets as well as the need for liquidity in those assets, Hot Web's tested auction models are positioned to capitalize on these opportunities. Our auction portals give the seller of high ticket items the chance to market to a larger audience and potentially realize a higher value for those items than traditional sales avenues."
Additionally, the Company announced that George Stevens, HotWeb's former Chairman and CEO, would remain as a consultant to the Company to move its business agenda forward. Specifically, Mr. Stevens will focus his efforts on securing joint venture and partnership opportunities the company is presently reviewing.
Mr. Stevens stated, "I am very excited about focusing my efforts on expanding the company's listings through partnerships. The abundance of quality discounted assets in the market coupled with the current 'buyer's market' environment creates a tremendous opportunity for the company to bring these, as well as international, buyers and sellers together through its proven auction model."
Hot Web's sites are currently being updated with various new features including video and audio capabilities for the listings.
About Hot Web, Inc.
Hot Web, Inc. is engaged in the business of consigning "big ticket" transportation related items through its diversified presences, both online and offline. The Company's mission is to "change the way the world buys and/or bids online" by harnessing the power of the Internet and coupling it with human interaction and expertise to create a safe, productive, comfortable and 'Fraud Free' way to conduct online/offline commerce. The company utilizes both its internal certified regional representative base in addition to online third-party marketing tools like eBay Motors and others to attract and market vehicle listings.
The Company's current portfolio of niche-focused online businesses consists of
Hotautoweb.com | Classics, Rods, & Race Cars www.hotboatweb.com HotCycleWeb http://www.hotrvweb.com and
HotPlaneWeb
The company is also currently developing other Hot Web branded online business units to complement its current roster.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Hot Web, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION
Contact:
Hot Web, Inc.,
Investor Relations
George Stevens
866-342-2700