Business Services Industry
BakBone Confirms Plans for SEC Filing On Track
Business Wire, April 6, 2001
Business Editors
CALGARY, Alberta--(BUSINESS WIRE)--April 6, 2001
Company Also Reports Expectations of Q4 Sales Growth
BakBone Software(TM), Inc. (OTCBB:BKBOF)(TSE:BKB.), a global provider of storage management software, today confirmed its progress toward the filing of its Form 40-F initial registration statement with the United States Securities and Exchange Commission, expected to be completed for filing by the end of April 2001.
The company noted the extensive process during the last quarter, to complete the analysis and reconciliation of prior years' financial statements from four countries worldwide in accordance with U.S. generally accepted accounting principles (GAAP). The expected benefits of the Form 40-F include enhanced visibility for the company with U.S.-based institutional investors.
Related Results
BakBone officials also said they expect to report increased sales revenues and improved operating efficiencies for the fourth quarter of the company's fiscal year ending March 31, 2001. The expected results would mark BakBone's third consecutive quarter of revenue growth since the company was founded last year, and is consistent with BakBone's stated objective of achieving cash flow positive status.
About BakBone Software, Inc.
BakBone Software(TM) (TSE: BKB, OTC: BKBOF) is an international storage management software company that develops and globally distributes industry-leading storage management solutions to the open systems markets, providing data protection and management solutions scalable from workgroup to enterprise that will grow with a company's needs. BakBone's core products include near-line optical and archival, as well as tape backup and restore software for a full suite of storage management solutions to the corporate data center.
BakBone's corporate headquarters is located at 10145 Pacific Heights Boulevard, San Diego, California 92121. Its stock is listed on the Toronto Stock Exchange and is included on the TSE 300 Composite, S&P/TSE Canadian SmallCap and TSE 200 indices. For more information on BakBone products, call 858-450-9009, e-mail sales@bakbone.com, or access BakBone's web site at www.bakbone.com.
Safe Harbor
This news release contains forward-looking statements reflecting management's current forecast of certain aspects of the company's future. It is based on current information that we have assessed, but which by its nature is dynamic and subject to rapid and even abrupt changes. Forward-looking statements may include statements by BakBone Software regarding:
- Growth projections for the company, including revenues and net income - The projected rollout of upgraded versions of our products.
BakBone's actual results could differ materially from those stated or implied by our forward-looking statements due to risks and uncertainties associated with our business, including, but not limited to:
- Our dependence on projected purchases by our major customers - Our ability to establish and maintain contractual arrangements
with storage-centric value-added resellers ("channel partners") - Competition in all aspects of our business - Changes in product or service profit margins due to pricing
changes driven by variations in customer demand, competition, or
unforeseen factors - The effect of general economic, credit and capital market
conditions on our business - Our failure to compete or successfully operate planned expansion
projects.
Our forward-looking statements should be considered in the context of these and other risk factors disclosed in our most recent report filed with the Canadian Securities Administrators, which is available on the SEDAR disclosure system (www.sedar.com).
All future written and oral forward-looking statements made by us or on our behalf are also subject to these factors. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
BakBone Software, the BakBone logo, and NetVault are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks or service marks of, and used to identify, products or services of their respective owners.
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