BTUS Ends Year 2000 With Brighter Prospects as It Nears Completion of intraReach.Business Editors LOS ANGELES--(BUSINESS WIRE)--Feb. 6, 2001 Berten USA Holdings Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTUS), a public trading company involved in the development of valuation solutions, ended Year 2000 with definite plans to launch its people software solution product under its subsidiary digitalReach Corp. Digitalreach International Inc., the intermediary Intermediary See: Financial intermediary intermediary See financial intermediary. company of Berten USA Holdings Inc., acquired digitalReach Corp. through majority stock ownership on Aug. 14, 2000. BTUS Highlights for Year 2000
-- The Alpha version for the intraReach(TM) software solution was
released in Oct. 17, 2000.
-- Revenue generating product milestones moved from November 2000 to
May 2001. This is to allow further adjustments in the core
technologies of digitalReach Corp.
-- Changes in the revenue milestones are also primarily due to the
revised timelines for the Beta release and ultimately the
commercial release of intraReach(TM). The Beta version will be
released in two phases (Beta 1 and 2) between Jan. 31 and Feb. 15,
2001. This will enable more accurate market sensitivity testing as
agreed by the IT and Sales and Marketing team of digitalReach
Corp. The final commercial version of intraReach(TM) is slated for
April 2001.
Financial Details The company fell short on its November and December 2000 revenues due to changes in the product milestones and further adjustments to the core technologies of digitalReach Corp. The minor adjustment in the milestones was to gear up for the actual product release through a Round 2 investment agreement with Digitalreach International Inc. For the year ended Dec. 31, 2000, the company's assets increased to $1,181,250, while its liabilities amounted to only $29,376. The increase in assets is accountable to the overall digitalReach corporate site upgrade involving improvements to the office facilities, infrastructure improvements for software, hardware, other equipment, IT and telecom capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. which are related to the increase of management and staff count to over 50 by year end of 2000. Product Milestones/Development The major product development milestone for Year 2000 was the completion of the Alpha release See alpha version. for the intraReach(TM) software solution. The Alpha version Software that has just been compiled and ready for its initial test inhouse. See alpha test, beta test and release candidate. was released in Oct. 17, 2000, and tested by six potential clients, mostly continuing prospects from the Prototype II test in August 2000. These potential clients represent opportunities in three market segments such as enterprise corporations, professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. organizations and recruiters. Full development efforts are now centered on the Beta 1 release of intraReach(TM), the ultimate market acceptability test for digitalReach's product lines. The Beta release See beta version. now 45% complete was previously scheduled for Jan. 1, 2001, and now moved to Jan. 31, 2001, due to technology changes and the introduction of additional functionality in Year 2000. digitalReach's IT, as well as its Marketing and Sales team, has agreed to introduce an additional Beta release with a general release date of Feb. 15, 2001. This will lead to the commercial release of intraReach(TM) in April 2001. intraReach(TM) is a database-driven solution for candidate selection and personnel management. It is the first and only application to precisely match employer's job requirements to the skill sets of candidate knowledge workers based upon statistical matching processes. This high-precision product will enable Fortune 100 companies to quickly and accurately identify optimal candidates for a given position, reducing search costs Search costs Costs associated with locating a counterparty to a trade, including explicit costs (such as advertising) and implicit costs (such as the value of time). Related: Information costs. and increasing retention of recruits. extraReach(TM), another product line of digitalReach, is a portal delivery version of the people asset management software. The portal is a supportive strategy to intraReach(TM) rather than a fully fledged Adj. 1. fully fledged - (of a bird) having reached full development with fully grown adult plumage; ready to fly full-fledged fledged, mature - (of birds) having developed feathers or plumage; often used in combination 2. offering to support revenue streams for the intraReach(TM) product line. Strategic Partnerships Based on Major Product Development Specific prospective clients and strategic partners were identified from the Alpha product releases. Note that most of these Alpha test The first test of newly developed hardware or software in a laboratory setting. When the first round of bugs has been fixed, the product goes into beta test with actual users. For custom software, the customer may be invited into the vendor's facilities for an alpha test to ensure the customers were also Prototype I and II participants and have expressed interest in going through the Beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the .
-- PPG -- a manufacturer of glass, paint and chemicals based in
Pittsburgh with 35,000 employees and 10,000 managers
-- Paragon Dynamics -- a professional services organization in the
Denver area
-- NetGoddess -- an international recruiting organization for women
executives that is interested in a product release timely with the
corporate introduction of the NetGoddess.com portal
-- CFS -- involved in financial and IT recruiting of more than 50
offices based in Boston
-- Coca-Cola -- a major industry by itself that is interested to
bring digitalReach into its selection process once the final
software solution is ready
-- ProSavvy -- a company that brings consulting firms and
corporations with project requirements together
Marketing Strategy and Product Launch Preparation digitalReach Corp. is also gearing up for the proprietary expansion of the Marketing and Sales team as it moves into the second investment amendment with Digitalreach International, the wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Berten USA Holdings Inc. The Round 2 and addendum addendum n. an addition to a completed written document. Most commonly this is a proposed change or explanation (such as a list of goods to be included) in a contract, or some point that has been subject of negotiation after the contract was originally proposed by to Berten USA Holdings Inc.'s stock investment in digitalReach Corp. through Digitalreach International are preparatory pre·par·a·to·ry adj. 1. Serving to make ready or prepare; introductory. See Synonyms at preliminary. 2. Relating to or engaged in study or training that serves as preparation for advanced education: moves for aggressive sales and marketing efforts for the complete product line of digitalReach. It involves the hiring and training of the sales and marketing team, identification of sales channels and vendors, strategic market plans involving competition analysis to be integrated with the corporate and product positioning presentations, brand analysis, advertising, e-marketing and the overall product launch game plan. Disclaimer: This document contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. including some historical information, estimates and projections as defined in Section 27(a) of the Securities Act of 1933 and Section 21(E) of the Securities Exchange Act of 1934. Actual results could be materially different from those discussed in this announcement. |
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