Conac Update.
COT.V CDNX
Corporate Update
September 2000
Since our last update at the end of June 2000, the Company has been working to mature the relationships that have been generated through the pursuit of the Merger and Acquisition (M&A) strategy that has been discussed in previous releases. The evaluation of possible acquisition targets has been extensive as management feels the expansion of Conac’s market and customer base is integral to the growth of the Company. This will also enhance the B2B initiative that has been worked upon throughout the summer months.
To further improve our product, relationships have been established with several strong software-manufacturing firms such as Trade Service Corporation of San Diego, California and McCormick Systems of Mesa, Arizona. The efficiency of pooling marketing resources, integrating technology and sharing end-user solutions is an incredibly powerful story. Again, these endeavours will increase exposure of the Conac line of products and increase the awareness of the market base of the opportunity that lies ahead for the Company.
Management is confident that existing sales and marketing efforts will generate good revenue growth and create a successful business however, Conac is fully aware that the need to create a full turnkey solution for the construction industry on the internet is an incredible opportunity. By aligning Conac with industry players in the construction arena and the technology sector, moving forward, Conac is able to create a portal on the internet that can be relied upon by the industry to fulfill all their needs from the conception of a construction project right through to completion.
The successful completion of this will result in Conac generating greater corporate awareness, and larger client base and stronger revenue
growth.
Financial Summary
The financial year-end for Conac was July 31, 2000, and management is currently in the process of preparing statements for audit and preparing initial annual report information. At time of writing we are not able to provide financial information on the final quarter however, the graph below illustrates the revenue growth that has been generated over the past couple of years.
Over the same period, commitment to the product has allowed for development of a line of software that is attracting interest from the industry in both Canada and the US.
Further development dollars have been made available to complete the transition from CD-Rom to the Internet with the belief that distribution of
services online creates a much larger market base and the ability to service the client base more efficiently.
Conclusion
The construction sector has identified the need for technological solutions to their efficiency problems and along with the growth of the
Internet, management feels that the opportunity that lies ahead for a group that can fulfill these needs on a fundamentally sound portal is quite
exciting and they are committed to this cause.
Please visit the Conac website, www.conac-ir.com. I would appreciate your comments to our e-mail address investor@conac-ir.com or by fax to
604.642.6233. Alternatively, you can contact our office at 604.642.0226 or 1.800.663.2338 if you have any questions regarding the above
information. |
