Stratesec Inc: Key Developments
Stratesec Inc. Announces a Major Contract Award
January 8, 2003 |
| Stratesec Inc. announced that it has been awarded a major contract to provide electronic security systems and continuing maintenance in support of over 100 sites for a major utility company in the Southeast. The contract term is for three years and has a potential contract value of several million dollars. This is a significant contract for the Company with work scheduled to begin in February 2003. In order to reduce its cost structure and improve profitability, the Company has divested its operations in California. Terms of the transaction were not disclosed. |
Stratesec Incorporated Now Quoted on the OTC Bulletin Board
October 29, 2002 |
| Stratesec Incorporated announced that the Company's stock began trading on the OTC Bulletin Board under the symbol SFTC. It's stock had previously traded on the American Stock Exchange under the symbol SFT. |
Stratesec Inc. Issues Outlook for 2002, Announces Restructuring Activity
April 12, 2002 |
| Stratesec Inc. announced that sales are expected to remain slow through the first quarter averaging between $300,000 and $500,000 a month in revenue. Based on sales projections by the expanded sales force, the Company expects revenue to improve in the second quarter to an average of $800,000 a month by the end of the quarter. The Company projects sales per month of $1 million by the end of the third quarter and $1.2 million per month by the end of the fourth quarter. The Company has also implemented the following initiatives to reduce its overhead expenses to allow the Company to break-even on revenue of $600,000 per month: reduced full-time and temporary corporate staff and relocated headquarters to shared facilities with Netcom Solutions, a privately held IT company and minority shareholder of Stratesec, Inc. Based on the projected increase in monthly sales and the decrease in overhead, the Company expects to be profitable on an operating basis by the end of the second quarter. |
Stratesec Inc. Acquires Security Systems Integration, Inc.
December 4, 2000 |
| Stratesec Inc. has acquired Security Systems Integration, Inc., by the exchange of two million shares of Stratesec's common stock for all the issued and outstanding shares of SSI. The two million shares of Stratesec common stock consist of 1,650,000 newly issued shares and 350,000 shares previously issued and repurchased over the past two years, pursuant to Stratesec's Stock Repurchase Program. |
Stratesec Inc. and NetCom Solutions International to Provide End-to-End, Top-to-Bottom Security Solutions
June 15, 2000 |
| Stratesec Inc. and NetCom Solutions International, a provider of supply chain management and network infrastructure support services, announced a strategic partnership created to provide end-to-end, top-to-bottom security solutions. The partnership will enable the companies to target large, complex domestic and international projects supporting the design, implementation, maintenance and technical support of electronic security systems and information technology networks. |
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