, a leading wine and spirits e-commerce web site and lifestyles portal, today announced that it has elected to withdraw its initial public offering of 3,000,000 units due to unfavorable market conditions. A request has been filed with the Securities and Exchange Commission to withdraw the registration statement relating to the initial public offering.Barry L. Grieff, Chief Executive Officer of said, "After careful consideration of all available options and given the unfavorable market conditions, we believe that it is best for to move forward as a private company. We have secured additional private financing and are well positioned for future growth. The Company will address the public market when conditions improve." is developing an online exchange focusing on integrating producers, retailers and consumers in the highly fragmented alcohol and entertainment beverage industry. The company, through its affiliate network, also offers consumers access to wine, champagne, spirits and accessories through its Web site,