MINNEAPOLIS, July 22, 2008 (PRIME NEWSWIRE) -- Subjex Corporation (OTCBB:SBJX) today provided an update with respect to its business strategy, version three of Forecast Market Software (FMS) and an audited conformation of results. The Company recently repositioned the FMS business from a software subscription to a fund management model, which will direct the investment activities of institutional investors. Subjex's FMS technology from February 15th to June 30th 2008, produced gains totaling 17.3%; results that are providing significant momentum for the Company's institutional initiatives.
On July 16th 2008 the Company received the results of an audit performed by Maddox Ungar Silberstein, PLLC. The audit confirmed that FMS performance results for the six month period ending June 30, 2008 are in accordance with Global Investment Performance Standards ("GIPS") for the purpose of determining whether any material modifications should be made to trading activity gain calculations in order to conform to GIPS. The letter of audit confirmation was included in the Company's recent 8-K report.
Andrew D. Hyder, CEO of the Company, stated, "FMS v3.0 results continue to be strong with a remarkable low volatility. With an audited track record that has averaged 6% per quarter and will soon span three years, FMS is ready for the scrutiny of investors that will come from the institutional community. As this happens we expect the Company to accurately reflect the value of its technology."
About Subjex Corporation
Based in Minneapolis, MN, USA, Subjex Corporation is an innovative artificial intelligence development company delivering solutions for business and the capital markets. Its Flagship product, FMS, is a quantitative trading engine with a long term proven track record, a high Sharpe ratio of 2.67 and good risk adjusted return. FMS is market neutral; carries a Beta coefficient of zero and as such neither gains nor loses value as a result of general market trend. FMS trades large indices and intentionally looks for small gains, taking compounded profits by exiting positions often. For more information, visit http://www.subjex.com.
This information contains "forward-looking statements" within the meaning of Section 27a of the Securities Acts of 1933 and Section 21E of the Securities Exchange Act of 1934. Management believes that the expectations reflected in such forward-looking statements are reasonable, but cannot give assurance such expectations will prove correct.