"SCS Solars enters agreement with Hitchhiker Software GmbH
of Germany"
SCS Solars Computing Systems Inc
SCS
Shares issued 30,557,801
1999-07-07 close $1.29
Wednesday Jul 7 1999
Mr. Frank Wells reports
SCS Solars Computing Systems has signed a letter of intent (LOI) with Hitchhiker
Software GmbH of Frankfurt, Germany, to deliver a fully integrated online
automation service to travel agents throughout Europe and worldwide. Tho LOI
covers the framework, already agreed to by both parties, providing for
revenue-sharing of data management and automation fees which will evolve into a
formal agreement over the coming weeks. The LOI allows both companies to
immediately initiate the sales and marketing plans for the European markets
(Germany, Austria, Switzerland and France) targeted in the first phase.
Hitchhiker Software GmbH is a leading European software company that
specializes in the travel market and has a proven track record in providing major
travel companies with all their inventory management and booking requirements.
The company currently manages travel data for more than 30 major travel
consolidators in Germany, Austria, Switzerland and North America, including
Solarnet customer DER Travel Services, and is growing rapidly. The initial focus
of the marketing plan will be on the German market which currently accounts for
over 100,000 tickets per day. It is anticipated this new alliance will provide SCS
Solars with a significant opportunity for revenue growth resulting from the
exposure to this new market. As SCS Solars and Hitchhiker completes the
expansion into the initial target markets, the service will be rolled out on a global
basis.
Solarnet has, for some time now, been used and recognized by some of the largest
consolidators in North America as the best solution to meet automated distribution
requirements. By working together to offer fully integrated on-line automation
capabilities to a growing European client base, agents will save time, and
consolidators considerable expense, in processing. This agreement demonstrates
the growing realization in the global travel industry that Solarnet represents the
future of travel information distribution."
Thomas Boffo, managing director of Hitchhiker Software, added: "Hitchhiker has
been very successful in expanding its travel software product suite with particular
emphasis in Europe where we already have a strong market presence in Germany,
Austria and Switzerland. Through the DER link we have worked with the Solarnet
Travel Network for many months and are pleased to join in this exciting
partnership."
"In Europe, as in North America, the opportunity to automate what has been to
date an expensive and labor-intensive processing system is exciting," added Boffo.
"Automation is new to the consolidator market sector and holds the promise of
revolutionizing the economics of travel information distribution and bookings. The
SCS Solars and Hitchhiker relationship will completely automate the way
consolidator bookings are made by travel agents."
Hitchhiker Software has specialized in fare management products since 1991.
Their client base includes 35 ticket brokers and five airlines in the European and
U.S. markets. Hitchhiker's robust software system VisualFares, is
Windows-based and has the ability to maintain over one million tariffs, deliver a
wide variety of distribution tools for all the individual countries, provide an
automated Fairquote & Ticketing engine, and provides wait-list robots for the
internal automation of the daily broker and corporate travel business. Hitchhiker
connects to Sabre, Galileo, Amadeus and Worldspan, and also offers a powerful
Internet technology for Looking & Booking net and published fares.
WARNING: The company relies upon litigation protection for "forward-looking"
statements.
Cash Money, I think that $2.00 is a toooooo conservative number. I think in a 12 month projection your looking $5-$10. I'm not leaving till atleast $5.00. I am lock in with 15,000s, and everytime it goes back down, let it I will be there buying more.
Also Cash money when talking to Brad Carr, he said that the 10million shares that went free trading, he was told that many of the people with those shares are holding on to atleast 60-70% of the stock and they are in for the long run. I think majority of trading is day traders and nervous investors.
Cash here's my projection, during the next month (to Aug. 8th, I think we will have atleast hit David's price target of $2.25 (What do you think, what is your projection) But, like I said I am in this thing for the long haul. (Obviously I will flip some shares but keep atleast 10,000s till it hits $5.00. (Even if it takes 1 year, it's a $400% return) |
