BarPoint.com (Nasdaq: BPNT), a leading product information service and applications developer, announced today the completion of a new technology infrastructure for its existing website and mobile shopping service, the BarPoint Shopper(TM). The new enhanced BarPoint platform, powered by custom technology from leading software providers Broadvision (Nasdaq: BVSN), Verity (Nasdaq: VRTY), WebMethods (Nasdaq: WEBM) and Brience, allows for direct mobile purchasing for registered users from any mobile device that can access BarPoint, including cellular phones, interactive pagers and PDA's. Other enhancements to the BarPoint service include a secure online wallet and shopping cart, accessible from www.barpoint.com and across all mobile devices, in addition to a highly scalable data feed capability to incorporate feeds and transmit transactions from and to multiple vendor partners.
Jeff Sass, BarPoint's Chief Operating Officer, commented, "The introduction of our new platform is an important milestone as BarPoint continues to lead the way in mobile product information and commerce. Manufacturers and retailers can now cost effectively promote and sell their products from any wireless device through BarPoint, attracting new customers and new revenue opportunities from existing customers -anytime, anywhere."
BarPoint also announced the streamlining of its operations with a reduction in overall spending and the elimination of 13 positions. These reductions, along with significantly reduced infrastructure spending going forward, should substantially lower the Company's future capital requirements.
BarPoint President and CEO, John Macatee, commented, "We have been building our new platform while supporting and maintaining our initial technology for the past nine months. Now that we have moved to the new platform, we can focus our resources on a single technology, giving us the opportunity to streamline our operations and reduce our spending, while remaining focused on growing revenue and enhancing the quality of our service."
Mr. Macatee continued, "With these important changes going forward, we now believe we have sufficient cash reserves to support our operating needs for more than twelve months. This strengthens the Company, enhances our ability to generate revenue, and places us in a much better position to continue to be a strong player in our sector."
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