MPSI Liquidates Bank Debt.Business Editors & High Tech Writers
TULSA, Okla.--(BUSINESS WIRE)--Nov. 18, 2002
MPSI MPSI Martin Process Solutions, Inc.
MPSI Multi-Problem Screening Inventory
MPSI MacLean Photographic & Sporting Images
MPSI Member of the Pharmaceutical Society of Ireland Systems Inc. (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). :MPSI) is pleased to announce that with a recent final payment of $500,000 to its bank, it has completed a debt liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts.
A type of proceeding pursuant to federal Bankruptcy objective initiated two years ago. Over the last 24 months, MPSI has generated sufficient internal cash flow from operations Cash flow from operations
A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses to service and repay debt of approximately $2,309,000. Liquidation of MPSI's bank debt should relieve the pressure on MPSI's liquidity going forward and permit the Company to focus its resources on profitable growth.
MPSI has faced and continues to face challenges as it rides out the economic turmoil that is affecting its retail petroleum client base. MPSI has continually adjusted its cost structure through organizational and process changes at an aggregate expense of approximately $950,000 over the last 24 months. The organizational changes related to closure of certain foreign offices as the Company's business shifted geographically and to severance associated with conversion of fixed staffing costs into variable costs. While the organizational changes are positive in the opinion of management, the up-front effects of such changes are significant components of operational losses reported during the period. "Despite downsizing (1) Converting mainframe and mini-based systems to client/server LANs.
(2) To reduce equipment and associated costs by switching to a less-expensive system.
(jargon) downsizing , MPSI has continued its technical investment at annual rates commensurate with prior years," said MPSI's chairman, Ron Harper
Ronald Harper (born January 20, 1964 in Dayton, Ohio) is a retired American professional basketball player whose career spanned from 1986 to 2001 with four teams in . "We believe that we currently have a three-year technology advantage over any other competitor in our target markets.
"Downstream operations of most integrated petroleum companies are suffering from extremely weak margins. The business climate has worked against us for much of 2002," said Harper. "That environment has reduced capital spending capital spending
Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. and market study orders (a key driver of MPSI revenues). In response, MPSI has developed new technology solutions that will help clients through this period and also provide new revenue sources going into 2003." In addition to continual investment in our suite of pricing products, MPSI's Technology Group has produced four new retail analytic sets
Given a Polish space , a subset . These are:
1. RETAIL EXPLORER PLUS(TM) - MPSI has released an enhanced
version of Retail Explorer(TM) known as Retail Explorer Plus.
Retail Explorer Plus is designed as a seamless upgrade to
Retail Explorer, providing greater analytical and retail
planning power. Available commencing Q3 2002, the offer of
Retail Explorer Plus has independently generated new orders
for MPSI product and services.
2. CAPITAL OPTIMIZATION SOLUTION - A new generation analytical
tool designed to manage a portfolio of retail assets over a
wide geographical area using client proprietary network
planning rules tailored to their specific environment,
marketing strategies, economic constraints, etc. This
technology uses components of RETAIL EXPLORER(TM), combined
with cutting-edge optimization algorithms, permitting our
customers to optimize capital returns on their portfolio of
retail assets. This tool is available today as a retail
analytics consulting service Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.)
service - work done by one person or group that benefits another; "budget separately for goods and services" and will be offered as a software
solution in early 2003.
3. OPERATIONAL OPTIMIZATION SOLUTION- A new analytical tool set
designed to take the sales or territory manager to a new level
of knowledge, sophistication so·phis·ti·cate
v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates
1. To cause to become less natural, especially to make less naive and more worldly.
2. and productivity. Our clients can
use this tool with their own set of rules and proprietary
categories to better focus their personnel and marketing
resources at individual category level and network level for
improved profitability. The tool identifies categories
performing below target in order to address remedies and above
target to help spread best practices through the network. The
tool was designed to enlarge TO ENLARGE. To extend; as, to enlarge a rule to plead, is to extend the time during which a defendant may plead. To enlarge, means also to set at liberty; as, the prisoner was enlarged on giving bail. the span of control of the
territory manager, thus reducing costs and improving the
revenue and margin of the retail network on a same store,
year-to-year basis, thus lifting the top and bottom lines of
our client. The tool will be offered as a software solution
and will be available early next year.
4. RETAIL EMERGENCE - A forward looking analytical tool that
captures the facilities, strategies and practices of
non-traditional retailers and the dynamic nature of consumers,
enabling MPSI to develop scenarios of how the retail
marketplace will change and new patterns will emerge over
time. This product enables our clients to better understand
and evaluate how robust or brittle a brand, a retail offering,
or a retail network will be in the future. Retail Emergence
Studies are available today as a retail analytics consulting
"Fortunately for MPSI, our geographic diversification has helped offset the weakness in the US and Japan. Over the past three months, MPSI has received more than $4 million in orders from international clients. This coupled with our new product set and the return of two major clients, gives us cause for cautious optimism concerning the outlook for 2003," continued Harper. The returning customers, one of which is a US company, had previously left MPSI to explore `cheaper' technologies. Their return validates MPSI's technology superiority and commitment to quality and customer service.
MPSI is a global provider of spatial decision support systems Spatial Decision Support Systems (sDSS) developed in parallel with the concept of Decision Support Systems (DSS).
An sDSS is an interactive, computer-based system designed to support a user or group of users in achieving a higher effectiveness of decision making while (featuring proprietary software and databases), retail analytic consulting services, and information services See Information Systems. . Its products and services are designed to meet the business planning needs of its convenience retail clients. The Company's common stock trades on the Pink Sheets under the symbol MPSI.
Portions of this document may include "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. " made pursuant to the safe harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from management's expectations and projections expressed in this document. Certain factors that can affect the Company's ability to achieve projected results include, among others, uncertainties inherent in the development and successful application of products, product demand, service demand, market acceptance, the effect of economic conditions particularly in target markets and within this industry, the impact of competitive products and pricing, commercialization and technological difficulties, and the ability of the Company to implement its business strategy.