TEMECULA, Calif., Nov. 9, 2004 (PRIMEZONE) -- S3 Investment Company (OTCBB:SEIH) today announced that the HIPAA compliance products and services of subsidiary Securesoft Systems will be marketed and distributed under the name "Comply" as part of the recently announced $10 million distribution agreement with TSPartner.
"Now that we have a master distributor for the Securesoft products targeted to the healthcare industry and are rapidly approaching the product launch of Comply, scheduled for November 15, 2004, we expect that the projected growth in revenue and cash flow from the marketing and selling of the product will be realized in the first quarter of 2005," commented Chris Bickel, Chief Executive Officer and Chairman of S3 Investment Company.
"While we are pleased with the progress that has been made in a relatively short period since our management team was installed, there is a great deal of work in front of us to realize the benefits of this product completion and cooperation with TSPartner. It is time to get to work," added Mr. Bickel.
S3I has entered into a definitive agreement with TSPartner, a leader in healthcare information technology, to become the chosen distributor of the Securesoft products and services due to their ongoing work with hundreds of large healthcare facilities across the United States. Comply is expected to fit well into TSPartner's existing work with these facilities, which are the targeted end users of the Securesoft products and services.
The agreement with TSPartner and the Comply HIPAA compliance products and services of subsidiary Securesoft Systems will be among the topics discussed in S3 Investment Company's market conference call for shareholders on Wednesday, November 10, 2004 at 1:00 P.M. Eastern Standard Time. Individuals interested in participating should call 1-800-441-0022 at that time and reference S3Investment Company. A photograph of representatives of both companies taken shortly after the signing has been posted at http://www.s3i.us/othermedia.asp.
Company Profile
S3 Investment Company, Inc. (http://www.s3i.us) is a Business Development Company regulated by the Investment Company Act of 1940. Its first operating subsidiary, Securesoft Systems, Inc. (http://www.securesoftsystems.com) was acquired in April 2003 and is a leader in compliance and risk management software, services and Internet technologies for regulated industries. S3 is currently seeking to acquire additional synergistic companies and is focused on assembling a portfolio of investments that will provide value to its shareholders.
This release contains forward-looking statements which involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements are based on currently available information which management has assessed but which is dynamic and subject to rapid change due to risks and uncertainties that affect our business, including, but not limited to, the impact of competitive products and pricing, limited visibility into future product demand, regulatory interpretation, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.