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| Like many mining companies, Orinoco Gold
saw the writing on the wall. Trying to make a go of it as
a mining company was proving to be unsuccessful. A change
in the business was necessary. And so the company became Active Assets & Associates Inc., an Internet company trying to carve out a niche market for itself. This was in mid-1999. By September plans were well under way. The company retained well known broadcaster and futurist Tod Maffin to help develop the company's strategy. You may have heard Maffin on the radio with his Future File series. The strategy arrived at was to develop an Internet auction site focused on the lucrative business-to-business or B2B market. Active Assets developed as a liquidator of excess corporate assets and inventory. The company plans to become an international presence and signed its first South American contract in December 1999. Tattersall Remates S.A., Chile’s leading auctioneer of industrial equipment and excess inventory with $250 million USD in annual sales, signed an exclusive agreement to participate in on-line Internet auctions via the ActiveAssets.com website. The company is also actively pursuing opportunities in Europe. In February 2000 the company appointed Ellen Hosier to the position of Vice President, Operations and Corporate Development. Ms. Hosier has 18 years experience in the industrial equipment business with Finning International. On March 23 the company announced it was in the final stages of creating the largest business-to-business on-line industrial exchange in Latin America. Unlike many dot.com companies which build a website and then try to develop the business to support it, Active Assets has taken the opposite route, developing business partnerships and clientele first. Its auction website is not yet operating at this writing, but when it is launched, says company director Simon Ridgway, "we expect to have an enormous volume of big ticket, industrial items for sale due to the strength of the auction houses and manufacturers we will be partnered with." Shares Outstanding: 8,100,000
Address: Phone: 604-688-5288 This page last updated: March 26, 2000 |
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