| Business Summary | | Newagecities.com,
Inc.
provides
Internet
community-building
and
e-commerce
services
for
the
New
Age
population
through
a
demographically
targeted
Website.
The
New
Age
population
is
defined
by
the
Company
as
including
aromatherapy
(mood-changing
aromas),
astrology,
crystal
energy,
eastern
philosophy,
natural
health,
psychics
and
a
host
of
other
topics.
Newagecities.com
is
a
Website
that
serves
as
a
doorway,
or
portal,
to
a
range
of
information,
products
and
services.
On
April
6,
2001,
Newagecities.com
signed
an
agreement
to
merge
with
Al-Wali
Corporation
(d.b.a.
New
Leaf
Distributing
Company,
Inc.),
a
wholesale
distributor
of
New
Age
books,
magazines,
sidelines
(gift
items)
and
other
literature
throughout
the
United
States.
In
August
2001,
the
Company
acquired
80%
ownership
interest
in
G-Choice
Science
and
Technology,
Limited.
G-Choice
is
a
provider
of
information
technology
products
and
services
located
in
Shanghai,
China. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Newagecities.com,
Inc.
is
a
development
stage
company
whose
goal
is
to
operate
a
Web
portal
focused
on
providing
services
and
selling
goods
related
to
the
New
Age
market.
For
the
six
months
ended
6/30/01,
the
Company
reported
no
revenues
vs.
sales
of
$15
thousand.
Net
loss
decreased
87%
to
$391
thousand.
Results
reflect
the
cessation
of
active
operations
due
to
the
failed
merger
with
New
Leaf
Distributing,
and
decreased
operating
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Joseph Ardito, Jr., 42 Chairman,
CEO | $78K | Kenneth Shenkman, 34 Pres,
Director | -- | Stanley Siegel, 67 CFO,
Sec., Treasurer, Director | -- | Cory Smith, 29 CTO | -- | Dollar
amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|