The Project Group Inc. Major Shareholders Convert 21,000,000 Shares to Preferred Stock and Agree to Two-Year Lockup
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Business Editors / High-Tech Editors HOUSTON--(BUSINESS WIRE)--Nov. 1, 2004-- The Project Group Inc. (OTCBB:PJTG) announced today a major shareholder group, consisting of officers and directors, has converted over 21,000,000 common shares into shares of Series A Preferred Stock and agreed to "lock up" the preferred shares for two years. The conversion of common shares to preferred stock was undertaken pursuant to
Project Group to Launch Radio Frequency Identification -RFID- Tag Initiative Thursday November 18, 7:51 am ET Company's Pro-Squared Inc. Subsidiary to Develop Tools and Applications for RFID
HOUSTON--(BUSINESS WIRE)--Nov. 18, 2004--The Project Group (OTCBB:PJTG - News) announced today that its wholly-owned subsidiary Pro-Squared Inc. will develop tools and applications for radio frequency identification (RFID) tags. RFID technology replaces traditional, unreliable bar codes and is rapidly becoming the state-of-the-art in supply chain management. RFID tags consist of silicon chips and an antenna that can transmit data to a wireless receiver. Wal-Mart has mandated that all major vendors will utilize RFID and the FDA, Pfizer, Smith Kline and Purdue Pharma recently announced testing of RFID deployment. Craig Crawford, CEO of The Project Group, said, "We intend to use our project management expertise with Fortune 500 companies such as Microsoft and Halliburton to develop tools, technology, and services in the rapidly expanding RFID arena. RFID technology will not only provide major advances in the supply chain sector, but also will be instrumental in tracking materials for large capital projects, which is an area we know best. We believe The Project Group is uniquely qualified to provide these solutions and look forward to development and deployment in our Pro Squared subsidiary."
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005-01-11 06:45:08 The Project Group Subsidiary, Pro Squared, Appoints New President to Lead RFID Initiative; RFID Industry Senior Executive Raphael M. Feldman Joins Pro Squared
HOUSTON--(BUSINESS WIRE)--Jan. 11, 2005-- The Project Group, Inc. (OTCBB:PJTG) announced today that Raphael M. Feldman, a well-respected veteran in the Radio Frequency Identification (RFID) industry, has been appointed President and CEO of Pro Squared, Inc., a subsidiary of the Company. Mr. Feldman has been developing RFID solutions for over 15 years, and is considered one of the most knowledgeable executives in the industry, with past clients including the State of Indiana, Tyco, and others.
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Project Group RFID Subsidiary to Implement Purchase Order from State of Indiana; Expands RFID Based Safety Inspection Program for Amusement Parks in Indiana HOUSTON, Jan 24, 2005 (BUSINESS WIRE) -- The Project Group, Inc. (OTCBB:PJTG) announced today that the State of Indiana has awarded a purchase order for expanding the state's RFID based safety inspection program for amusement parks. The order will be implemented by its RFID solutions subsidiary, Pro Squared, Inc. Raphael Feldman, newly appointed CEO of Pro Squared and the original developer of the RFID solution for Indiana, stated, "This is an expansion of an already successful closed loop solution of RFID. We believe this has significant market potential in other states and plan to expand our efforts in a highly targeted sales program to other state and governmental entities."
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HOUSTON--(BUSINESS WIRE)--Jan. 26, 2005-- The Project Group, Inc. (OTCBB:PJTG), a project management and collaboration company that provides enterprise-level business solutions, announced today that Microsoft Consulting Services (Nasdaq:MSFT) awarded the Company a work order to provide an additional $202,000 in services. Work on the project started in January. As part of the agreement, the Project Group provides to one of the largest automobile manufacturers in the world support for Microsoft initiatives- focusing primarily on Project Management using Microsoft Project Server software. As a Microsoft Gold Certified Partner, this contract is one of several received by The Project Group to date, with Microsoft work orders already totaling nearly $1 million for work in 2005.
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HOUSTON--(BUSINESS WIRE)--Jan. 27, 2005-- The Project Group, Inc. (OTCBB:PJTG) announced today preliminary revenue totals for the fourth quarter 2004 and for the full year. Revenues for the quarter were in excess of $625,000, an increase of approximately 17% compared to revenues of $530,398 for the same period in 2003.
sooner or later this one will give us 100%....
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The Project Group Subsidiary, Pro Squared, Licenses Parco Merged Media Hospital Asset Tracking System HOUSTON, Feb 1, 2005 (BUSINESS WIRE) -- The Project Group Inc.'s (OTCBB:PJTG) RFID subsidiary, Pro Squared, Inc., announced today that it is entering into a distribution and integration agreement with Parco Merged Media Corporation of Portland, Maine. This agreement will allow Pro Squared to provide hospitals with the premiere RFID based hospital asset tracking solution available today.
RFID based Hospital Asset Tracking is quickly becoming a primary solution that hospital executives view as a critical tool in tracking the location of valuable assets throughout a hospital in real time. The combination of Pro Squared RFID solutions and Parco's technology moves the industry well beyond the mere tracking of assets and personnel into the effective, continuous and profitable deployment of hospital assets throughout the institution at all times.
The combination of Pro Squared's RFID solutions and Parco's advanced tracking technologies provides the highest-level of tracking required to form "smart clinical care environments" a process where many routine processes are automated for hospital clinicians.
"Pro Squared has taken the next step in not only tracking assets but building smart business rule sets into the clinical environment," said Raphael M. Feldman, a well-respected veteran in the Radio Frequency Identification industry, and President and CEO of Pro Squared. Mr. Feldman goes on to explain that, "The ability to track tagged assets with greater precision saves money and creates a powerful tool for automating many routine processes when certain conditions are met, for example when an IV pump and patient come together."
Adds Feldman, "When these conditions present themselves in the post anesthesia recovery room Pro Squared can time stamp the event, note the in-use status of the IV pump, assign it to the patient's record, and continue the billing event until the patient and pump separate. All of this is done without placing any additional burden or steps on the caregiver."
Pro Squared will also provide deployment and integration services for Parco. Pro Squared will deploy solutions as well as provide post installation support on a maintenance contract basis. Pro Squared will develop several add on process modules to the existing solution to further enhance hospital utilization of equipment, saving hospitals additional money and time.
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OK, part of the reason that it's not running up is the purchase of Dolphin knowledge....
Item 2. Acquisition or Disposition of Assets
On June 30, 2004 the Company ("TPG") purchased all the issued and outstanding common stock of Dolphin Knowledge, Inc. ("Dolphin") from its shareholders, Mark Beatty and Thor Schueler, for $70,000 in cash and 6,600,000 shares of TPG's restricted common stock. The cash portion of the purchase price was paid from funds on hand. Pursuant to the terms of the stock purchase agreement, and a Conversion Rights Agreement entered into in connection therewith, the former Dolphin shareholders have the right to convert the TPG shares into a new Series C Preferred Stock which are then convertible into 9% of the outstanding common stock of the company, after conversion. This conversion is exercisable only after a conversion by the TPG founders of their shares of TPG common stock into Series A Preferred Stock,
Concurrent with the acquisition, TPG entered into three year employment agreements with the two former shareholders of Dolphin. Annual compensation is $140,000 for each under the agreement. They were also granted stock options to purchase 1,000,000 shares each of TPG common stock at a price of $.12 per share. The options vest ratably over a period of three years and expire on June 30, 2014.
this makes a CURSORY look at the financials SEEM to be a disaster.....it's not.....
FINANCIAL HIGHLIGHTS Fiscal Year Fiscal Year Ends: 31-Dec Most Recent Quarter (mrq): 30-Sep-04 Profitability Profit Margin (ttm): -93.35% Operating Margin (ttm): -87.75% Management Effectiveness Return on Assets (ttm): -159.02% Return on Equity (ttm): N/A Income Statement Revenue (ttm): 2.29M Revenue Per Share (ttm): 0.039 Revenue Growth (lfy)³: N/A Gross Profit (ttm)²: 1.23M EBITDA (ttm): -1.97M Net Income Avl to Common (ttm): -3.64M Diluted EPS (ttm): -0.066 Earnings Growth (lfy)³: N/A
unfortunately not enough people are looking BEHIND the financial highlights to see the value of the acquisition....it'll come..
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if you read more filings you will discover that they restricted most of the shares involved in the transaction....these guys are building a company not pumping and dumping....
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Major Funeral Services Provider Extends Contract with The Project Group Thursday February 3, 8:24 am ET
HOUSTON--(BUSINESS WIRE)--Feb. 3, 2005--The Project Group Inc. (OTCBB:PJTG - News), a leader in enterprise project management, collaborative solutions, and RFID solutions, announced today that the largest funeral and cemetery services provider in North America has extended its contract to include three additional work orders. This additional work builds on the enterprise project management environment that The Project Group has already worked with the client to establish and will provide custom reports and expand issues management capabilities. Additional Microsoft (Nasdaq:MSFT - News) products, including SQL Reporting Services will be used to extend the solution.
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