TPI MARKET UPDATE - MARCH 1998
1998-03-20
MISSISSAUGA, ONTARIO
Paul G. Mighton, CEO of Transformation Processing Inc. (TPI) (OTCBB:TPII)
announced a current summary of the Company's activities.
Year 2000
As the new millenium fast approaches, the global market is finally beginning
to focus on the Year 2000 problem it faces. This ominous issue is not only
in information technology, but also in embedded systems, affecting all of our
lives.
Embedded systems are devices used to control, monitor or assist the operation
of equipment, machinery or a plant. "Embedded" reflects the fact that they
are an integral part of the system. In many cases their embeddedness may be
such that their presence is far from obvious. At the other extreme a
general-purpose computer may be used to control the operation of a large
complex processing plant and its presence will be obvious.
In addition to providing a 'best of breed' end-to-end Year 2000 solution for
information technology problems, TPI is also ready to assist organizations in
assessing and remediating the embedded systems problems that they face. We
are quoting on many Year 2000 projects, both IT related and embedded. We
have begun work at several sites and due to the litigious nature of this
problem, organizations are moving very slowly prior to signing these
contracts. We currently are negotiating through this process with a number
of clients.
TPI continues to grow its relationship with BMR Software. Our Year 2000
professionals have been working very closely with Bob Bemer and his team
performing the necessary due diligence on the Vertex 2000 product. Since
signing a letter of intent with BMR to represent the Vertex 2000 in the
commonwealth countries, we have continued to share various technical
strategies that include architecture, methodology, packaging, and marketing
to ensure both BMR and TPI can maximize the Vertex 2000 opportunity on a
global level. BMR has now completed its alpha site implementation with a
live customer and TPI is currently negotiating a large contract to use Vertex
2000 software for a beta site opportunity. We expect to bring these
negotiations to a successful conclusion in the very near future.
In the area of research and development, our Year 2000 professionals are
nearing the end of the development cycle to launch TPI's first proprietary
Year 2000 scanning tool. This tool has shown efficiencies allowing code to be
scanned at a rate of 50,000 lines per second. The competitive advantage that
our scanning tool will bring to the market can be used to expedite the
front-end of the Year 2000 discovery project by quickly identifying 100% of
the date fields. At the back-end of the project, our scanning tool has
already been used for code verification of Year 2000 compliancy, thus opening
up a whole new market in after-remediation acceptance testing. We will be
making an announcement shortly that will introduce this new exciting
technology to the marketplace.
Groupware
Once limited to e-mail applications, more and more companies are beginning to
reap the benefits of these powerful information and workflow management
systems. By giving employees access to increasingly user-friendly management
tools, we can help identify hidden patterns in customer information records
and make better informed, more strategic, decisions. TPI has continued to
grow our Groupware division where it is now approaching $1 million in annual
sales. We have a solid customer base of over ten clients in Canada and the
United States and this division has allowed us to cross-sell our other TPI
lines including, but not limited to, Year 2000 solutions. As this division
continues to grow, we continue to explore various acquisition opportunities
that will increase revenue by the fall of 1998.
Client Server Migration
TPI has completely re-engineered its initial Client Server Migration product
offerings to provide us greater exposure to our original target markets. The
product has been enhanced with additional functionality as well as increased
speed of electronic migrations.
The opportunities in our Client Server Migration division have been
overshadowed by the market awareness of the Year 2000 issue. Enterprises
that have a requirement for migration are reluctant to take this task on
until they have addressed their Year 2000 compliancy issues. Therefore, TPI
is well positioned to capture the significant post-2000 client server
migration market.
SEC Filing
On March 12, 1998, TPI filed its Form 10-SB Registration Statement with the
SEC. This tedious initiative, led by TPI's Chief Financial Officer, John
McGee is an important milestone in our Company's history. Our investors and
potential investors can now view TPI's information electronically through the
SEC's EDGAR system (www.freeedgar.com). As the Company matures and grows
through revenue and acquisition, this status allows us the opportunity to
attract institutional investors and provides a formal channel for
communicating TPI's financial progress. We firmly believe that with this
milestone comes the refocusing of TPI's executive team out to the sales and
marketing initiatives that will allow us to continue our successful growth.
This news release includes forward-looking statements that involve risks and
uncertainties, including the timely development and acceptance of new
products, the impact of competitive products and pricing, the timely funding
of customers' projects, customer payments to the Company and the other risks
detailed from time to time by the Company.
For more information about TPI see our web site at www.tpii.com, or contact:
Samantha Chapman, Internal Investor Relations
Transformation Processing Inc.
2121 Argentia Road, Suite 200
Mississauga, ON CANADA L5N 2X4
email: schapman@tpii.com
Tel: (905) 812-7907 Fax: (905) 812-7920
Toll-free: (888) 222-5967 |
