No Sense keeping quiet about this one any more as the bull is starting to buck out of the stall. I have loaded up on shares. I flew out to Calgary to meet the management and look at the product. Now I am sitting tight and won't be tempted to sell any stock even if I see $3.00 tomorrow. This is a keeper. This is a real deal. This is something I am very pleased to own. You can read all about this company on the report I wrote on it at my web site. Here are a couple of the latest news releases compliments of ontopequity.com ( "When success whispers, smart money listens") :
News Releases
Dec 14, 1999 - SSI Completes Financing Agreement with RoyNat
Dec 13, 1999 - SSI Featured in Computer Dealer News (CDN)
Dec 10, 1999 - Future Stock Review recommends SSI
Sterne Stackhouse Completes Financing Agreement with RoyNat Capital
Tuesday, December 14th, 1999
Calgary, Alberta -- Ron Sterne, Chief Executive Officer of Sterne Stackhouse Inc. (CDNX:SSX) and Earl Lande, Senior Vice-President of RoyNat Capital Inc. announced today that Sterne Stackhouse Inc ("SSI") has completed a financing agreement with RoyNat Capital Inc. for a $2 million convertible debenture.
The debenture is convertible into common shares over a three-year period at the rate of $1.50 per share in year one, $2.50 per share in year two, and $3.50 per share in year three. Interest is payable at the rate of 8% per annum, paid monthly. If RoyNat converts this debenture into shares, there is no further interest payable by SSI. If SSI forces conversion into shares, an additional bonus interest is calculated at the rate of 12% per annum, payable in shares upon conversion.
Ron Sterne says SSI has already achieved substantial revenue growth with a skeletal sales staff. The primary purpose of this financing is to fund immediate and significant additions to the sales initiative in order to fuel exponential revenue growth in both domestic and international markets. SSI has just released its Internet (Web) version of Labrador© - which is targeting the immense e-Commerce market. Serious negotiations are already underway in the Utilities and Health-Care sectors. In addition, a Labrador© implementation of an SAP financial database has been contracted and delivered.
SSI is an emerging leader in real-time data retrieval software, providing Business Intelligence solutions to corporations world-wide. Labradorƒ, SSI's retrieval technology is exceptionally fast, providing immediate access to any type of data -- any place -- any time.
For further information, please contact:
Ron Sterne
Chief Executive Officer.
Sterne Stackhouse Inc.(403)-263-6325
The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein.
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Sterne Stackhouse Inc. Featured in Computer Dealer News (CDN) Article; 'Mining for New Data'
Tuesday, December 13, 1999
Sterne Stackhouse is Drilling Into New Markets in Canada With its Data Software Tools.? By Josh Kern
Ron Sterne named his software after his favourite breed of dog. "I grew up with Black Labs," says Ron Sterne. "I happen to like them as a dog."
That?s why he called his retrieval technology Labrador Intelligence Systems. And his company, Calgary-based Sterne Stackhouse Inc. (SSI), is looking to send its puppy running into new markets.
Sterne, SSI?s CEO, worked for an insurance company in the 70?s, and one of his divisions was data processing; it was here he said he received insight into "what you can do with data."
Following that he worked for a data company based in Toronto. "I joined the data company because they promised to send me out west. But they lied. They had no intention of sending me out west," he said. "That was boom time in Calgary, in the late 70"s. They sent me out there on a project; I remember the vice-president, we were sitting in a steam together, and I said, ?I?m staying here, so either find a place for me, or I?m going to find another place.? He begrudgingly said yes, and I ended up running their office until November 1980."
Sterne Software, as it was called then, was founded the following year. The purpose of the company was to create a means to make data accessible, anywhere.
SSI?s initial deployments were in the data rich oil and gas industry. Sterne said his company has evolved through some tough times. The oil and gas business is volatile and cyclical, he said, and competitive in Calgary.
The Labradorƒ technology provides an interface for accessing legacy data in large companies, such as those in the oil and gas industry. Having found success there with its Petro-LABâ solution, SSI is now branching out to the mass market with its new product, dubbed Business-LABâ.
"Business-LABâ allows us to go into any industry that is data rich, and pull data from legacy applications," Sterne says. "There?s a major eye clinic in Calgary, and we?re using them as a pilot project. They want to know the demographics, they want to know about procedures, timeliness, and all this data they?ve accumulated, they want to be able to pull it at will. Business-LABâ will allow the clinic to access the data, which can then be presented to their customers and they can build profiles for new customers.
"We allow them to go at this data from any type of direction or viewpoint," he said, "and reporting for the query doesn?t have to be predefined, because what Labrador does is generate the query code on the fly."
SSI?s existing customers include Alberta Energy Company, PanCanadian Petroleum and Canadian Natural Resources.
SSI distributes and sells its own products, but the company is looking towards the indirect channel. Sterne said the company is currently interviewing potential VARs, but the challenge is finding the right people.
The company does the installation of its products on-site, in about 20 minutes, according to Sterne. "We?ve had a lot of success making the software very friendly for any level of user," he said, adding that that comes from his own background as a businessman. "I?m not a technical person, I?m very business-oriented. I get very frustrated by computer systems that make me work, because my work is already work, so when you make my work harder, because your system is difficult to use, I?m (upset).
"Our stuff?s easy, yet it?s very powerful," he continued. "It?ll supply a guy like me who wants highlevel stuff, right down to the technical guys who want to get into the guts and the bowels."
The base configuration for a corporation works out to be about $100,000, but Sterne said the company is looking at its business model and how it?s going to charge for its services in the future.
Currently, the company employs 28 people, a number of whom have been with the company since it was founded. SSI went public on the Alberta Stock Exchange January of 1997.
The company generated $3.6 million in revenues this year, up from $2.2 million last year. The company has considered moving to the Toronto Stock Exchange, but CFO Darryl Stackhouse said the advice the company has been getting is to skip the TSE and move right to the NASDAQ in New York.
For further information, please contact:
Sterne Stackhouse Inc.
Darryl Stackhouse
President and Chief Financial Officer.
(403)-263-6325
The Alberta Stock Exchange has neither approved nor disapproved of this release
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