Pasadena, California, June 24, 2015 (GLOBE NEWSWIRE) -- ABT Mining Co. (OTC Pink: ABOT, the “Company”) today announced that the Company has completed the acquisition of the premium domain name “Autoclaim.com” in continuation with its newly acquired “AutoClaim” Mobile App (the “App”), an advanced “Proprietary” real time Mobile Claims Documentation and Management System.
Based on precedent transactions, premium insurance domain names have been sold at an increased valuation with higher premium paid by the acquiring companies. Some of the relevant transactions in this space include the purchase price for Insurance.com at $35.6 million in 2010, Insure.com at $16.0 million and Internet.com at $18.0 million in 2009.
Company’s CFO and Director Imran Firoz stated, “We strongly believe that this acquisition not only give us a high value asset but also strategically position us to monetize autoclaim.com at multiple levels.” Mr. Firoz further elaborated, “Autoclaim.com is a premium domain name and a complete media asset. We will use this venue to build a strong brand and launch various targeted sales and marketing campaigns. In addition, we will use this platform to drive online traffic to the website by developing engaging and user friendly content, innovative products and value added services with an intention of establishing a large community of end users of AutoClaim App.”
As reported earlier, the App is scheduled to be released as a free download to personal (individual) users between Q4 2015 and Q1 2016.
About the Company
ABT Mining Co. Inc., which also owns ABTHoldings.com is a diversified holding company engaged in investing, acquiring, developing, and growing various businesses that provide strategic advantages, generate attractive returns and significant free cash flow in order to maximize value of our shareholders.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Contact: Imran Firoz, CFO ABT Mining Co. OTC PINK: ABOT 225 S Lake Avenue | Suite 300 | Pasadena | CA 91101 T: +1 818.302.0100 E: firstname.lastname@example.org
Source:Abot Mining Co.