FOUR CROWN FOODS INC. (OTCBB:FCFOF; THE “Company”) announces that the board of directors of the Company have approved the change of the Company’s name to “UNIVERSAL DOMAINS.CC, Inc.” The name change is proposed in order that the Company’s corporate name will be more reflective of its newly acquired domain name registration business. The name change is subject to availability of the corporate name and approval by the Company’s shareholders.
The business plans to establish a top-level domain registry company located in Los Angeles, Calif. The company’s primary objective is to register and own a minimum of 500,000 catch phrasing dot cc domain names for re-sale and lease to individuals and businesses. The dot cc extension is a premium and recognizable International domain that works worldwide on the Internet just like .com, .net and .org. Dot cc is opening a new frontier of Internet space.
Today there are over 15 million domain names registered and reserved. The largest domain extension is dot com with a total of 9 million names exercised. Since most of the highly sought after generic, marketable and commerce dot com names have already been registered, dot cc can now offer the same memorable quality to new web businesses. According to industry analysts Hambrecht & Quist LLC, the market for domain names is projected to grow at least 20 fold over the next four years, reaching more than 32 million new registrations and achieving revenues in excess of $2 billion annually by 2002.
Most people were not aware of dot com companies until the late 1990’s. As the dot com space has been overcrowded, domain names am becoming extremely valuable. Business.com sold for 7.5 million dollars; Loans.com sold for 3 million dollars; Bingo.com was purchased for over 1 million dollars; and Drugs.com was bought for $823,000. These domain names have proven to be as valuable as prime real estate. That’s why, according to a recent report from BBC News, one bank is now offering mortgages on Internet Domain names. Great Domains has over 600,000 listings with an average selling Price of $14,500. The current value of these names are in the excess of 8 billion.
The Company is currently in the process of building a unique auction site which will allow consumers the opportunity to purchase top-level domains at our web site. Some of the high profile names in our portfolio include: USMoney.cc, CanadianMoney.cc, InternetSchool.cc, GourtmetCooking.cc, and NationalNews.cc.
Certain statements contained herein are “forward looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based upon the belief of the Company’s management, as well as assumptions made beyond information currently available to the uncertainties, actual results may differ materially from those expressed or implied. Such “forward looking statements” include but are not limited to, competitive factors, general economic condition, customer relations, relationships with vendors, government supervision and regulation, product introductions and acceptance, technological changes in industry practices, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
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