Accelr8 Technology Corporation was notified by Nasdaq on Friday, June 23, 2000, that its stock would resume trading on the Nasdaq:NMS (National Market System) Monday, June 26, 2000.
The company has met the Nasdaq requirements of filing its 10K's for 1997, 1998, and 1999 as well as its 10Qs for the period ending 10/31/99, 1/31/2000 and 4/30/2000 in compliance with Nasdaq requirements.
Thomas V. Geimer, Accelr8's CEO, noted that for the fiscal years ending 1997, 1998 and 1999, there were no re-statements of earnings, revenue recognized, or of amortization expense related to capitalized software development costs. According to Geimer, the fact that no restatement was required by the company's new auditors, Levine, Hughes & Mitheun, should help restore investor confidence in the company's management.
During the past months, Accelr8 has been redefining itself as a software company that is expanding from software reengineering/rehosting to one helping enterprises integrate and extend the use of their existing legacy systems.
"Our mission is to streamline our customers' business functions by integrating their internal information systems with each other and with those of their business partners," said Geimer. "Organizations are finding it more cost effective to integrate their legacy systems than to replace them with new applications," Geimer added. These improvements in business functions can be in the areas of enabling them for electronic business, optimizing the supply chain, improving customer relationship management, and improving internal decision support. "This change in direction leverages our expertise with VMS, Unix, NT, Java, and data transformation, utilizing those skills within a business model called EAI-Enterprise Application Integration," Geimer noted.
XML is becoming one of the key technologies that will be used to enable EAI and Business-to-Business strategies. Accelr8 intends to use its XML and EAI knowledge to provide rapid web enablement of business processes across application, departmental, and enterprise boundaries, with the goals of improved customer satisfaction and increased profitability. Accelr8's first products for this burgeoning marketplace are XML adapters for non-relational data file systems. The Company has released XML/RMS (VMS systems) and has designed XML for ISAM (for Unix and NT systems). The company is presenting its XML/RMS product at the XML DevCon 2000 this week in New York City. The initial customers in need of these XML servers are primarily Fortune 500 companies interested in accessing data from legacy systems from the environment of the Internet.