SAN FRANCISCO, Oct. 6, 2011 /PRNewswire/ -- Banks.com, Inc.
(NYSE Amex: BNX), operator of leading financial services focused
online media properties, today announced that it has exited its
legacy search business and that it will begin divesting its
non-core domain assets beginning with the sale of the domain name,
Look.com.
"With our exiting the search business, we will begin
divesting those assets that are not core to the finance vertical
and convert those assets into cash to help build our core business
going forward," said Dan O'Donnell, Chief Executive Officer of
Banks.com. "Look.com isn't just a great domain name; it's a
phenomenal domain name the likes of which rarely come up for sale.
We encourage any interested parties to make their interest
known."
The company plans to accept the best immediate offer it receives
for Look.com and reinvest the proceeds of the sale into continuing
to expand its presence in the online tax vertical. Interested
parties may email their offers and inquiries to the contact
provided below.
Forward Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and may include
statements regarding acquisitions, business estimates, future
contracts, future financial performance and results of operations,
including cost of revenues, operating expenses, interest expense,
net loss and cash flow. Unless otherwise required by law, we
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise after the date of this press release.
Additional information concerning risks and uncertainties that may
cause actual results to differ materially from those projected or
suggested in the forward-looking statements may be found in
Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K
filed with the U.S. Securities and Exchange Commission.
About Banks.com
Banks.com, Inc. owns and operates internet media properties
including: banks.com, irs.com, filelater.com and
mystockfund.com. Our properties provide users
with finance-related content and services and vendors with targeted
online advertising opportunities.
Through banks.com, we provide access to current
financial content, including financial news, business articles,
interest rates, stock quotes and financial calculators. We
also provide users access to tax related services including online
tax preparation through irs.com, online tax
extensions through filelater.com, and online
stock brokerage services
through mystockfund.com.
Contact Information:
Dan O'Donnell
Chairman and Chief Executive Officer
Banks.com, Inc.
(415) 962-9799
dodonnell@banks.com
SOURCE Banks.com, Inc.
