TEMECULA, Calif., Nov. 15, 2004 (PRIMEZONE) -- S3 Investment Company (OTCBB:SEIH) today announced that its portfolio investment company, Securesoft Systems, has launched its comprehensive HIPAA compliance software solution, "COMPLY," to the healthcare market.
The compliance software program is the result of several years of development and work done in the field. The Securesoft COMPLY product is the first comprehensive HIPAA compliance program that is targeted towards large healthcare facilities and hospitals.
Chris Bickel, Chief Executive Officer of S3 Investment Company, commented, "This product launch is the culmination of three years of work. A great deal of effort and resources have been expended to get us to this very special place. In the field of healthcare regulatory compliance, there is a serious need for this product, as it is a truly comprehensive compliance tool that allows full compliance with HIPAA regulations.
"We are focused on working with our master distributor, TSPartner, to get this product distributed and implemented. As previously stated, we expect to have five installations at significant healthcare facilities completed by the end of this year. With this type of product, having the completed product in your hand is but the first step in generating a continuous revenue stream. There is work to be done in cooperation with TSPartner in the installation, training and implementation phase of our initial distribution work.
"Our goals for this launch remain aggressive and will be achieved -- five installations prior to the end of the year, continuous revenue stream from COMPLY in the first quarter of calendar year 2005, positive cash flow for Securesoft and S3 Investment Company in the second quarter of calendar year 2005," added Mr. Bickel.
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.