BasicGov Systems, Inc. Reports Settlement with Harris Corporation
2010年3月9日 - 3:40AM
Marketwired
BasicGov Systems, Inc. (TSX VENTURE: BSG) ("BasicGov" or the
"Company") today announced that it has reached agreement with
Harris Computer Corporation on the amount of the holdbacks under
the Acquisition Agreement and that net proceeds totaling $494,697
has been received by the Company. The Acquisition Agreement and
holdbacks relate to the disposition of assets in 2008 and will
result in an additional $119,258 write-down of the holdbacks
receivable in 2009.
Certain former shareholders of the Company who hold Subscription
Receipts are entitled to a total of 15% of the holdback sums
received which equals $74,205. This amount will be distributed
shortly to holders of Subscription Receipts and represents $0.0173
per Subscription Receipt less an adjustment for SBVCA tax credits
if applicable.
About BasicGov Systems, Inc.
BasicGov Systems, Inc. (TSX VENTURE: BSG) develops, sells and
supports BasicGov web-based software for cities and local
governments that streamlines permitting and inspections, code
enforcement and planning. BasicGov is a reliable, secure solution
delivered for an affordable price and the only web-based software
for local governments built on the Force.com, the cloud computing
platform from SalesForce.com used by more than 55,000 organizations
worldwide. Unlike enterprise software that is expensive to acquire
and difficult to implement, BasicGov requires no capital investment
and is simple to set up. Users pay a monthly subscription fee per
module and no capital investment is required. www.basicgov.com
Forward-Looking Statements
This news release contains forward-looking statements. Actual
events or results may differ materially from those described in the
forward-looking statements due to a number of risks and
uncertainties, including changes in market and competition,
technological and competitive developments, cooperation and
performance of strategic partners and potential downturns in
economic conditions generally. Forward-looking statements are based
upon management's estimates, beliefs and opinions. The Company
assumes no obligation to update forward-looking statements, other
than as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: BasicGov Systems, Inc. Ian Power CFO +1 (604) 729-5142
info@basicgov.com www.basicgov.com
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