Sales OnLine Direct to Change Name to Paid, Inc. And Require Mandatory Exchange of Certificates
November 24 2003 - 7:45AM
PR Newswire (US)
Sales OnLine Direct to Change Name to Paid, Inc. And Require
Mandatory Exchange of Certificates WORCESTER, Mass., Nov. 24
/PRNewswire-FirstCall/ -- Sales OnLine Direct, Inc. (BULLETIN
BOARD: PAID) , today announced that it will change its name to
Paid, Inc. effective December 8, 2003. The Company's shareholders
overwhelmingly approved the name change. As part of the name
change, all stock certificates representing shares of common stock
of the Company must be exchanged for new certificates. The
Company's stock will be given a new CUSIP number though the CUSIP
Service Bureau, and a new trading symbol will be assigned. The
exchange of certificates will be mandatory for all holders. The
Company's transfer agent will notify stockholders and brokers
regarding the new CUSIP number and trading symbol and procedures
for exchanging the certificates. Stockholders who hold stock
certificates will be required to exchange their certificates.
Stockholders who hold their shares in street name with a broker
will not be required to take any action, unless their broker tells
them otherwise. Instead, the brokers will exchange the
certificates. The transfer agent will deliver new certificates back
to the stockholders and brokers promptly. "We intend to use the new
name to better brand our Company and services, including the
Company's online auction and e-commerce management tools," stated
Richard Rotman, Sales OnLine Direct CFO. In addition to the name
change, the Company has amended its bylaws to require that stock
certificates include the name of the beneficial owner. "We believe
that this new bylaws requirement will help the Company communicate
more efficiently and cost effectively with its stockholders," says
Greg Rotman, Sales OnLine Direct CEO. About Sales OnLine Direct and
Rotman Auction Sales OnLine Direct, http://www.paid.com/, maintains
and develops portals and web sites for various companies and
industries. The Company has focused its efforts on the antique and
collectible industry, offering the "Ask the Appraiser" online
appraisal service, marketing and publishing the "Maloney's Antiques
and Collectibles Resource Directory" and developing web sites that
enhance the user's experience. Through web hosting and managed
services, Sales OnLine Direct has provided e-business solutions to
many different companies including their own Rotman Auction
division. This division sells tens of thousands of items per year
through auction, direct sales, and special events and is a
certified eBay Platinum Power Seller. The Company has developed its
patent pending "AI Suite" (http://www.auctioninc.com/) of software
to increase revenues and reduce overhead for sellers on eBay, and
offers these essential e-tools to other companies. Through recent
initiatives, Sales OnLine Direct is establishing itself as one of
the most important collectibles portals, and online auction
services and technology providers to the collectibles industry. The
Company's common stock is traded on the Nasdaq OTC Bulletin Board
under the symbol "PAID." Forward Looking Statements This Press
Release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 that are based upon current
expectations or beliefs, as well as a number of assumptions about
future events, including matters related to the Company's
operations. Although the Company believes that the expectations
reflected in the forward-looking statements and the assumptions
upon which they are based are reasonable, it can give no assurance
that such expectations and assumptions will prove to have been
correct. The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to
numerous factors and uncertainties. In addition, other factors that
could cause actual results to differ materially are discussed in
the Company's most recent filings, including Form 10-KSB with the
Securities and Exchange Commission. Contact: Media Contact - Julie
Shepherd, Accentuate PR, (815) 479-1833, Investor Contact - Dennis
Evanson, (719) 534-0292, DATASOURCE: Sales OnLine Direct, Inc.
CONTACT: Media - Julie Shepherd, Accentuate PR, +1-815-479-1833, ,
or Investor - Dennis Evanson, +1-719-534-0292, , both for Sales
OnLine Direct, Inc. Web site: http://www.paid.com/
http://www.auctioninc.com/
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