VERI -
The Vertica Solution
We believe that many companies hire consultants to insure environmental compliance and that other companies spend substantial amounts to hire in-house information technology groups to design and maintain environmental compliance systems. We believe we offer a solution based on a combination of a Web browser and Microsoft SQL Servers, and bring together a software management system with an on-line community. This solution allows our software products and Internet web site, discussed below, to function in concert.
We have designed our environmental software management system, iComply, to assist our customers by reducing the time and costs required by consultants, internal information technology and environmental management staff for regulatory compliance with environmental regulations. Our products would not, however, provide any check for compliance with applicable regulations of a customer's internal systems.
We have also designed the Internet web site, Hazweb.com (formerly called Vertica.com) as an environmental web portal serving the hazardous materials and hazardous waste industries. Hazweb.com contains extensive and continuously updated information relating to current environmental regulations, and enables clients and vendors in the hazardous materials industry to interact on-line. The iComply products reside within Hazweb.com.
We believe that our customers will be able to use our systems to reduce the labor time and resources needed to comply with hazardous waste and environmental regulations. A customer is asked by the software to respond to a list of relevant questions, the responses are linked to forms and other documentation used for reporting and compliance purposes. We call these lists of questions and links "wizards." The data accumulated in the modules can be retrieved for a variety of purposes through the software, thus enabling the user to reduce the amount of manual calculations, hard paper information gathering and storage and other clerical functions needed to complete required reports and notices.
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Our Strategy
We derive revenues from three diversified products and services:
Licensing of iComply products, transaction fees for filing activities, and e-commerce marketplace transaction fees on the Hazweb.com web site. We believe that our pricing for the licensing and training are lower than the costs a customer would incur in developing an in-house system due to the distribution of our costs of development and maintenance across our entire client base. We also believe that iComply modules will attract clients by lowering their capital and labor costs associated with environmental compliance. Some activities, such as plain text searches of government regulations, are offered for free, in order to generate initial traffic to our web site. Finally, we have set our transaction fees on Hazweb.com at the then current market rates for such fees.
We believe that our Hazweb.com web site will be a hub for a client's environmental compliance transaction activity, as well as the entry point for research queries into our proposed database. We believe that eventually a steady traffic flow through our site will result in vendors connecting with clients in these industries.
Products and Services
iComply. On February 1, 2000, we released two products, the iComply Communicator and Inventory modules. On July 17, 2000, we released the iComply Transporter, and in the first quarter of 2001, we released the Hazweb e-commerce marketplace platform. Over the next twelve months, the Company's primary commitment is to market and sell its existing products.
iComply Features
We have designed our iComply software products, comprised of separate Internet accessible software modules as described below, to assist clients in industries subject to environment and hazardous materials and hazardous waste regulations in environmental compliance, reduce regulatory paper trails and streamline the administrative efforts associated with hazardous materials and hazardous waste management and crisis communications, thus reducing costs to those industries.
iComply Products:
Inventory
The Inventory module, as part of each of the other iComply products discussed below, provides assistance to customers and data to other iComply products by managing chemical and waste information for each customer site. The module is designed to link
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material safety data sheets ("MSDS") and waste profile information directly to a customer's facility inventory. The module provides customers with a site map feature and the capability to track inventory down to the individual building level. A customer will be able to use the inventory and regulated chemical lists to facilitate chemical control, emergency compliance and environmental reporting. Inventory can be updated manually by the customer or automatically by iComply products as a customers products are received, manufactured, transported or released. The Inventory module is complete and has been used by Olympian, which is the largest independent oil marketer in California.
Communicator
The Communicator is designed to manage a facility's hazardous materials, emergency compliance, crisis communications and environmental reporting information. The product includes hazardous materials plan builders, compliance wizards and automated document submission. Electronic forms and checklists are designed to streamline response efforts and minimize reporting errors. The Communicator module is also designed to facilitate internal as well as external communications, allowing continuous control of a customer's facility public image. This module also supports compliance with EPCRA (Emergency Planning and Community Right to Know) and related environmental regulations. The Communicator was released on February 1, 2000.
Transporter
The Transporter is designed to serve the hazardous materials and waste transportation needs of a customer. The product includes automated Department of Transportation registration form, bill of lading and waste manifest software "wizards," document tracking and incident and exception report capability. The module automatically updates chemical and waste inventories, allows access to material information and provides labeling and placard information essential to the shipment of hazardous materials. This product supports compliance with Department of Transportation regulations. The Transporter was released on July 17, 2000.
Processor
The Processor will be designed to serve each iComply customer site's production floor process mapping, inventory, hazardous materials and waste stream needs. It will support compliance with TSCA (Toxic Substance Control Act)and related regulations. The development and first release of this product depends upon us generating revenue on our existing completed products.
HazOSHA
The HazOSHA product will be designed to serve each iComply customer site's hazardous materials employee safety policies, procedures and training needs, including on-line training. This module will support compliance with hazardous materials related sections of 29 CFR OSHA (Code of Federal Regulations for Occupational Safety and
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Health Administration). The development and first release of this product depends upon us generating revenue on our existing completed products.
Permitter
The Permitter product will be designed to serve each iComply customer site's permit monitoring and compliance needs, and will include air, liquid discharge and hazardous waste permit application software "wizards." This module will support compliance with CAA (Clean Air Act), EPA (Environmental Protection Agency), RCRA (Resource Conservation and Recovery Act), CWA (Clean Water Act), AQMD (Air Quality Management District) and related regulations. Programming of permit processors for this product has suspended, and the completion and first release of this product depends upon us generating revenue on our existing completed products.
Hazweb.com
Hazweb.com (which was called Vertica.com) is our web site that has been designed to provide updated information on environmental regulations and serve as an e-commerce web portal in which vendors and clients in the hazardous materials industry will be able to buy and sell products and services. The iComply products reside within Hazweb.com. The features of this system are:
News & Analysis: It is intended that Hazweb.com provides current industry news for the hazardous materials community, including stories from business, government, energy, environment and finance. Our web site features informational articles written by experts in the hazardous materials industry and offers an internet posting site for industry related press releases and publications.
Marketplace: Hazweb Marketplace offers an industry-specific marketplace for the purchase, sale and exchange of hazardous materials-related goods and services. It includes a customizable directory of industry products and services, and features tools for online price management and customer notification. Marketplace includes customer-specific quotes and order processing services that are interfaced with the iComply Inventory and Transporter products, thereby providing an integrated e-commerce and hazardous materials management system.
Hazinfo: We believe that Hazweb.com serves the multifaceted information needs of the hazardous materials and the hazardous waste communities. It features industry-specific glossaries, a public contacts database, codified regulations, on-line MSDS access, discussion groups, event calendars and an industry-related resume posting and career center. |
