Dtomi Inc., a development-stage company with a stock price of only 8 cents per share, will acquire Network60, LLC, a an online service firm, in a share exchange deal.
The two firms had worked together, with Dtomi marketing products to consumers via Network60.
Network60 offers e-mail, list management, media bartering and e-commerce services. The firm posted gross revenue of $1 million and net revenue of $300,000 for the six months ended June 30, and now has assets of more than $1 million, according to Dtomi.
Network60’s co-founders, Michael Alon and Michael Korfff, will stay with the company for at least three months.
The acquisition will allow Dtomi to “expand its marketing efforts directly to consumers because Dtomi will own millions of consumer e-mails,” said CEO John Thatch in a statement.
Network60’s assets and “historical revenue” will be integrated into Dtomi’s financial statements, according to Thatch.
Safety Harbor, FL-based Dtomi has repositioned itself from a manufacturing database company to a permission-based marketing vendor.
The firm’s stock is traded by the Over the Counter (OTC) bulletin board. Recently, OTC reported that Dtomi had not yet “received any revenues from its businesses.”
Network60 also operates Web sites like www.Coolwinning.com, www.Freepinwheel.com and www.BeautyAmerica.com.
Network
