Here's a little info on SVNX. First of all their profitable, their definitely establishing relationships with the right companies, and their customers aren't to bad either. Allot of people have been comparing SVNX with AETH whose market cap is 3.55B, giving SVNX a market cap of 3.5B would give it a share price of $98.00, this should rock tomorrow!
STRATEGIC RELATIONSHIPS
We are establishing worldwide relationships with wireless and other network
service providers, device manufacturers, technology companies and content
providers to facilitate the adoption of our customers' on-line products and
services. Through strategic relationships, we are able to gain technological
leadership, worldwide access and positioning and an early awareness of emerging
Internet technologies. Our participation in the development of these
technologies at an early stage gives us a competitive advantage to bring new
products and services to our customers. Currently, we are working with network
service providers such as Bell Mobility and Sprint; device manufacturers such as
3Com, Ericsson, Motorola, Neopoint, Nokia, Qualcomm and Research In Motion;
software and technology companies such as Certicom, Sonera and Sun Microsystems;
and system integrators such as Deloitte & Touche. We believe that our solution
benefits each of these types of companies as greater demand for digital wireless
financial services increases consumer loyalty and drives wireless airtime usage,
consumer electronic device sales and the consumption of other products and
services.
CUSTOMERS
We currently market our product and services to large financial institutions
such as banks and brokerages. Bank of Montreal, Bank of America, Citigroup and
Wells Fargo are in various stages of implementing our solution.
BANK OF MONTREAL
Bank of Montreal is a leading Canadian bank, which as of October 1999,
including its U.S. subsidiaries, had approximately Cdn.$231 billion in total
assets and approximately seven million retail customers. Bank of Montreal is a
fully integrated financial institution offering brokerage services through its
broker subsidiaries.
In May 1999, our platform enabled Bank of Montreal to become the first
financial institution in North America to launch an integrated wireless banking
and brokerage application in a market trial with approximately 350 users. This
service, named Veev, supports the delivery of banking, brokerage and lifestyle
applications through wireless phones and PalmPilot connected organizers. Bank of
Montreal has announced the success of its market trial and is currently in the
process of rolling out the Veev service throughout Canada.
In December 1999, Harris Bank, a U.S. subsidiary of Bank of Montreal,
announced its plans to commence a market trial of an on-line service based upon
our solution to customers in the Chicago, Illinois area.
BANK OF AMERICA
Bank of America, with $621 billion in assets as of September 30, 1999, is
the parent company of Bank of America, N.A., the largest bank in the U.S. The
bank serves more than 30 million households and 2 million businesses across the
country. Bank of America is a leading on-line banking provider in the U.S., with
more than 1.6 million on-line customers.
In July 1999, Bank of America announced that it intends to begin piloting
wireless on-line banking services using our solution in 2000.
CITIGROUP
Citigroup is a leading global financial institution which as of June 30,
1999 had approximately $690 billion in total assets and 100 million customer
relationships with consumer operations in more than 50 countries.
In August 1999, Citigroup announced its intention to implement our solution
worldwide under the leadership of its e-Citi division. In December 1999, we
entered into a master technology license agreement with Citicorp Strategic
Technology Corporation, a subsidiary of Citigroup, which will enable us to
license our technology to Citigroup and its affiliates. We expect to enter into
one or more
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additional agreements with Citigroup and a number of its subsidiaries, including
Citibank and Salomon Smith Barney Inc., to deliver our solution to their
customers worldwide.
WELLS FARGO
Wells Fargo is a diversified financial services company providing banking,
insurance, investments, mortgage and consumer products and services. As of
September 30, 1999, Wells Fargo had $203 billion in assets and approximately
15 million customers.
In September 1999, Wells Fargo entered into a licensing agreement with us
that would enable it to begin to deliver on-line banking services to its
customers in 2000.
SHARES ELIGIBLE FOR FUTURE SALE
Upon completion of the offering, a total of 35,402,426 common shares will be
outstanding (36,302,426 common shares if the underwriters exercise their
over-allotment option in full). All of the common shares sold in the offering in
the U.S. and Canada will be freely tradable without restriction under either the
Securities Act of 1933, except for any such shares which may be acquired by an
affiliate of ours, as that term is defined in Rule 144 promulgated under the
Securities Act of 1933 or applicable Canadian securities laws (except by
"control persons", as defined under these laws). |
