LOS ANGELES, CA, 6/19/2013 6:15:00 AM - BarNone, Inc. (formerly Webxu, Inc.) (WBXU), a media company that owns and operates a network of consumer branded websites focused on Customer Acquisition, today announced the issuance of a letter by Chairman and CEO Matt Hill, to update shareholders on company progress.
Dear Fellow Shareholder,
Since our last update to shareholders, we have a number of major milestones to report.
Our completed acquisition of BarNone, a well known consumer brand in the Auto industry, is the most exciting event in our company’s history. Members of both our Management team and core staff have extensive experience in the Auto market, which we believe will be largely beneficial for our growth strategy. We have completed our corporate name change to BarNone, we are in process of revamping our corporate and dealer portal websites and applying for our ticker symbol change. In conjunction with our ticker symbol change application, we are also working on getting current with our SEC filings. Our primary goal is to scale the business. We have already made significant progress with immediate growth of its existing Auto industry assets.
The BarNone brand has been well known in the Auto industry since 1995 and it has an established consumer following. Identified by its TV commercials with their sock puppet mascot, the company has provided quality advertising services to its proprietary network of Auto dealers nationwide. Since we completed the acquisition in early May 2013, we have successfully grown the existing operation by approximately 200%. We believe that this growth will maintain pace as we continue add more Auto dealer customers to our network, and expand the services we offer them.
We intend to continue to leverage and expand the BarNone brand and to become a leader in the Auto industry. Market timing for our organic growth strategy could not be better. In May 2013, 15.2 million cars and light trucks sold in the U.S. This is the sixth month out of the last seven to exceed 15 million sales. The last time this level of productivity had been reached was early 2008. We feel that BarNone is well positioned to capitalize on this market uptrend.
We have identified several acquisition targets that provide synergies to our core BarNone business, which we anticipate will bring significant increase in revenue and profit. We are currently in active negotiation with these targets and we are seeking the appropriate financing to further pursue them.
We recently added Steve Curry to our Management team as President and COO of BarNone. Steve brings a wealth of experience in Customer Acquisition in multiple verticals. Prior to BarNone, Steve was a founder of SecureAquote, a leading Customer Acquisition company in the Finance vertical which sold to Vantage Media in December 2007. In addition, we are finalizing arrangements with Josh Cox, formerly with SecureAquote, to join BarNone as the CTO. Along with these industry seasoned additions, I have once again accepted the position as CEO to help guide the growth of our core BarNone business. Our former CEO has moved on to other opportunities, but remains a shareholder and supporter of the business.
We are excited about our current focus on our core BarNone business and we believe we will complete 2013 on an upswing, coinciding with the uptrend in the Auto market.
As always, thank you for your continued support.
Chairman and CEO
About BarNone, Inc.
BarNone, Inc. (formerly Webxu, Inc.) (WBXU), is a media company that owns and operates a network of consumer branded websites focused on Customer Acquisition in Auto, Finance and additional verticals. For more information visit http://www.barnone.com.
Cautionary Language Regarding Forward Looking Statements
This release and any attachments contain forward-looking statements within the meaning of the “safe harbor” provisions of the Federal securities laws, including Section 21E of the Securities Exchange Act of1934, that involve risks and uncertainties. Words such as "will," "believe," "intend," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include the quotations from management in this press release, as well as any statements regarding the Company's anticipated financial results and strategic and operational plans. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, but are not limited to: the Company's ability to deliver an adequate rate of growth and manage such growth; the impact of changes in government regulation and industry standards; the Company's ability to maintain and increase the number of visitors to its websites; the Company's ability to identify and manage acquisitions; the impact of the current economic climate on the Company's business; the Company's ability to attract and retain qualified executives and employees; the Company's ability to compete effectively against others in the online marketing and media industry; the impact and costs of any failure by the Company to comply with government regulations and industry standards; and costs associated with defending intellectual property infringement and other claims. More information about potential factors that could affect the Company's business and financial results is contained in the Company's latest annual report. These forward looking statements are made as of today’s date and, except as otherwise required by law, the Company does not intend and undertakes no duty to release publicly any updates or revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof.
Bar None Media Contact
- Mergers, Acquisitions & Takeovers
- Customer Acquisition