HENDERSON, Nev., April 27 /PRNewswire/ -- KaChing KaChing, Inc. (www.kachingkaching.com) today announced completion of a reverse merger with Duke Mining Company, Inc. (OTC Bulletin Board: DKMZ). Newly formed KaChing KaChing, Inc. is a progressive and uniquely positioned e-commerce company offering online consumers the most recognized brand name merchandise at extremely attractive everyday low prices.
Operational technologies and a proven retail platform were licensed to KaChing KaChing by Beyond Commerce (OTC Bulletin Board: BYOC) (www.beyondcommerce.com). Beyond Commerce is also a significant equity owner of 10,605,100 shares of KaChing KaChing, Inc. The executive team of KaChing KaChing will maintain control of the new publicly traded entity.
"KaChing KaChing offers the first multi-level marketing retail concept on the Internet. It licenses proprietary online storefronts to direct marketers to earn ongoing commissions on a full-time or part-time basis," states KaChing KaChing Chairman and CEO, Robert McNulty. "It currently offers as many as 1.8 million products and thousands of brand names for sale across a broad range of categories... such as, consumer electronics, books, DVDs, computers, housewares, office supplies, pet products, health and beauty items and fragrances... to name just a few."
"The Company will also continually introduce new and popular product categories to serve market demand," adds Mr. McNulty, "similar to Amazon.com, Inc. (www.amazon.com) and Overstock.com (www.overstock.com)."
KaChing KaChing Founder, Robert McNulty, is an accomplished entrepreneur and an early pioneer in e-commerce on the Internet. He created Shopping.com, the first multi-category online retailer on the Internet. Mr. McNulty founded and successfully developed Shopping.com, which was ultimately sold to Compaq Computers for $220 million in all cash transaction. The reverse merger is lead by former investors from Shopping.com that have a significant investment in this new business strategy as well.
"We have the opportunity to change the face of online retail purchasing," notes Robert McNulty. "KaChing KaChing offers people the ability to run and manage their own webstores, selling thousands of brand name products, including specialty boutique items directly from manufacturers and distributors."
"Storeowners will also be able to add their own products for sale that will ensure immediate distribution through the Company's e-commerce platform," he adds. "Today, there are over 2,000 webstores currently operating on our retail platform."
The revolutionary KaChing KaChing concept was created by successful brick-and-mortar and e-commerce world veterans possessing expert knowledge in retail strategies, sourcing, pricing products and supply chain distribution. KaChing KaChing projects to have over 100,000 licensed storeowners operating in the next 12- to 14-months, generating significant revenues and earnings.
Internet retail sales are soaring - up 20% a year for the past twelve years - and today, they command a record $150 billion dollars of annual online retail sales in the U.S. alone, with a projected growth of $200 billion in annual sales over the next four years and KaChing KaChing, Inc. is uniquely positioned to capture a significant share of this burgeoning market.
This merger gives KaChing KaChing immediate access to public markets and provides greater growth opportunities by creating value for shareholders. The Company will immediately file for a name change to KaChing KaChing, Inc.
