Proginet Corp Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Proginet Corp

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: caly who wrote (216)	2/1/2005 4:01:46 PM
From: caly	Read Replies (1) of 229

An interview with the CEO is available on CEOcast. ceocast.com Here's my attempt at a summary of the key points: - 55 employees now - 3 initiatives for growth: 1)technology alliances 2) acquisitions 3)organic growth through sales. Sales are achieve nationally through direct sales, and internationall through distributors - Have 300 customers in 23 countries. Support revenue is about $4 million/year. Covers about 60% of Proginet expenses on a monthly basis. Charge a recurring maintenance fee when we make a sale/license. - Three years ago decided to get into government business. Spent 18 months acquiring GSA licenses. Been working with alliance partners like EDS and Lockheed Martin on opportunities they're working on. Also have been working with companies specializing in the government markets. As part of acquisition strategy, want to acquire a company already in that space. Within the next 6 to 12 months, expect be pursing goverment market extensively. - Large integrators: Over 50 of our sales around the world have come through large integrators like EDS and HP. The large integrators don't just offer one vendor's solution. They recommend a vendor/solution based on the application needs. - Evolution of products has been standard-based. Days of proprietary software are gone. - Strategic partners - primarily in two arenas. 1) Distributor/Resellers -have 19 resellers selling in 23 different countries. 2) OEM Partners in security space - they take our technology and embed it in their products. Have partners like Netegrity and Beta Systems. - Have done 5 acquisitions in recent years. Business model calls for acquiring small companies. Expect to do two acquisitions per year. With the acquisitions, expect revenue growth of 100% for the three to four years. - Because of lack of visibility, Proginet is trading at a 1.5 to 1.8 multiple of revenues. More legitimate multiple would be in the 5 range. Looking at a 250% gain potential just if Proginet can achieve recognition.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next