Citadel EFT announces the purchase of 50% of bugeyeparts.com for 100,000 shares of cdft.
We are very happy to have John Felts expertise with us to build and maintain websites like bugeyeparts.com, Gary De Roos, ceo says.. We are exploring self replicating sites with this model in other car industry sectors. John Felts site is like a craigslist for Austin Healey and MG parts and cars with a very interactive community of enthusiasts. John Felts experience as being a pioneer in internet radio as well as building sites for KABC will only enhance our overall business model of success and growth into the future.
Bugeyeparts.com is a web site developed to assist people buying or selling used Austin Healey and MG parts and cars. There are thousands of people trying to sell or buy these classic cars and parts. The methods to advertise are limited and difficult. Ebay, Craigslist and AutoTrader have been primary choices but each comes with challenges of too many fees, spams and scams that are not only annoying but can be costly. Bugeyeparts.com has become the largest trading site for these items in the world. The customer base is growing and never-ending. If you drive a British sports car you are always going to be in the market for parts!
The concept of being a member of bugeyeparts.com helps eliminate the scams and spams and offers an extremely targeted audience when you try to sell or buy classic Austin Healey or MG cars or parts. Bugeyeparts.com has had thousands of people visit the site looking for these specialized cars and parts. If you put search word, “bugeye parts” on google, the company is in first position.
New and used parts are what are found on bugeyeparts.com in addition to the popular cars for sale section. Its free to place a classified ad and you need to become a member in order to do so. Thousands of people search through the ads monthly and members upload photos of their cars and trade technical advice.
About the founder, John Felt. Mr. Felt has been involved in advertising for over 25 years. In 1995 he co-founded ONRadio, a web development company that created over 650 top radio stations web sites including Dr Laura and KABC. He went on to become Vice President of Sales with a small start up called Kerbango which was the first company to develop an Internet radio. He was instrumental in the company going public in 2000. After taking a 10 year "vacation" Mr. Felt has started bugeyeparts.com. Mr. Felt currently owns six Austin Healeys.
Lastly, we are happy to announce another profitable fiscal year. We continue to grow our customer base and we are proud to be a debt free company, DeRoos, ceo said.
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