EXHIBIT 99.1
EYECITY SELLS SUBSTANTIALLY ALL OF ITS B2C WEB SITES
AND REDUCES INDEBTEDNESS BY $810,000
PLAINVIEW, N.Y -- January 17, 2001--Eyecity.com, Inc. (OTC BB: ICTY) announced
today the sale of substantially all its business-to-consumer (B2C) Web sites.
The Web sites include Peepers.com, Eyeglassplace.com and Binoculars.com, which
generated substantially all of the Company's sales in 1999 and 2000. As a result
of this transaction the Company eliminated the $810,000 balance of the
indebtedness it had incurred for the acquisition of these Web sites in 1999.
The Company will continue its efforts on growing its EyeTools(R) computer
eyewear, and Foggles(R) pilot training, recreational shooting and hunting
eyewear product lines. The Company is also evaluating various opportunities in
developing a B2B and B2P platform in the optical industry by utilizing its
experience in the B2C market.
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This press release contains certain forward-looking statements, which may
involve known and unknown material risks, uncertainties and other factors not
under the Company's control including without limitation its ability to operate
as a going concern, the need for additional financing, the impact of
competition, the management of growth, compliance with applicable regulatory
requirements, the Company's ability to implement its long term business plan for
acquiring complementary businesses and the Company's ability to enter into
agreements with marketing or distribution partners, which may cause actual
results, performance and achievements of the Company to be materially different
from the Company's expectations.
Contact
Eyecity.com, Inc., Plainview, NY
Mark H. Levin, 516.822.5000
[email protected]
