Welcome!

Government Cloud Authors: Elizabeth White, Pat Romanski, Roger Strukhoff, Liz McMillan, Gopala Krishna Behara

News Feed Item

An Open Letter to the Shareholders, Customers and Strategic Partners of BakBone Software

An Open Letter to the Shareholders, Customers and Strategic Partners of BakBone Software

SAN DIEGO, May 5 /PRNewswire-FirstCall/ -- BakBone Software publishes an open letter to shareholders, customers and strategic partners from president and CEO, Jim Johnson.

(Logo: http://www.newscom.com/cgi-bin/prnh/20031120/SDBAKLOGO ) Dear Fellow Stakeholders:

During the past several months we had hoped to be in a position to announce our audit completion date. Unfortunately, and to the disappointment of all stakeholders, we have been unsuccessful in these efforts and are not yet in a position to file our financial statements. We continue to work diligently to complete and file our delayed financial statements, however, an exact date for the completion is still not known.

Our inability to file our financial statements has resulted in our shares being de-listed from the Toronto Stock Exchange (TSX). As announced by the TSX, effective June 2, 2006 at the close of business, the securities of BakBone Software will be officially de-listed from the TSX. However, once all financial statements have been brought current, it is our intention to reapply for a listing on the TSX and to resume trading in Canada. Once we have applied for re-listing, we have been advised the process will take approximately six to twelve weeks.

This action by the TSX does not affect the current trading of the Company's securities on the Pink Sheets in the US. In addition, we have posted a shareholder Q&A to the Company's web site home page in response to potential shareholder questions. Also, the Q&A can be accessed at http://www.bakbone.com/investors/Shareholder_Q&A.pdf.

In reviewing fiscal year 2006, many of the metrics we have been carefully tracking continue to show positive trends. The fundamentals of the business remain strong and we are seeing the organization grow in a positive direction.

To demonstrate this growth from a financial perspective, for the fiscal year ended March 31, 2006, total worldwide bookings* were $45.2 million from the sale of software license and maintenance contracts representing a 20.5 percent increase from $37.5 million for the fiscal year 2005.

For the third quarter of fiscal year 2006, total worldwide bookings were $13.3 million from the sale of software license and maintenance contracts representing a 21.6 percent increase from $10.9 million for the same period in fiscal year 2005.

With respect to our fourth quarter of fiscal year 2006, total bookings were $11.5 million from the sale of software license and maintenance contracts representing a 7.5 percent increase from $10.7 million for the same period in fiscal year 2005.

We continue to be debt free and have been in this position since July 2003. The cash balance at the end of March 2006 was $9.8 million as compared to $14.7 million at the end of September 2006. During the second half of FY06 the Company completed the acquisition of Constant Data for approximately $5.6 million in cash and limited contingent payments.

On the operational front, we are in the process of broadening our product offering with the addition of NetVault:Replicator, the replication technology acquired from Constant Data, and NetVault:Report Manager, BakBone's advanced reporting technology. As we move into fiscal year 2007, our goal is to continue to grow our VAR and OEM business, increase our maintenance retention rates worldwide, and continue to advance our IDP (Integrated Protection Strategy) product portfolio. Our partnerships with Adaptec, Apple, NCR Teradata and Network Appliance remain important components of our business model, and our goal is to grow and expand these strategic relationships.

During the past six months, we have expanded our sales operations in both North America and EMEA (Europe, Middle East and Africa) to include inside sales focused primarily on the growth of our maintenance retention business. To date, we are seeing excellent results, and we will continue to provide support to this group to increase this growing component of our revenue base.

Regarding the BakBone management team, Doug Lindroth has joined the Company as its new chief financial officer. Doug comes to BakBone with strong credentials in managing the global financial and legal responsibilities for Memec, the world's leading specialty semiconductor distributor. We are extremely pleased to welcome Doug to BakBone's senior leadership team. Doug's worldwide financial and operational background is a major win for the organization, and we look forward to his expert assistance as we work through the remaining issues and the completion of the audit process.

I, along with the Board of Directors, want to once again assure our stakeholders that the organization is committed to being a leader in the data protection market. We want to reiterate that the goal of maximizing shareholder value continues to be the primary focus of all of our activities.

Sincerely, Jim Johnson President and CEO

*Bookings represent the total dollar value of contracts signed during the period. The revenue associated with bookings will be recognized in accordance with our revenue recognition policies.

Safe Harbor

This letter to shareholders contains forward-looking statements (including, without limitation, statements regarding the planned completion of BakBone's historical and interim financial statements and the resumption of quotation of its common stock on the Toronto Stock Exchange and the future growth in BakBone's business) that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause BakBone's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. The potential risks and uncertainties may include, but are not limited to: BakBone's ability to resolve certain outstanding issues in its historical financial statements, complete the review of its interim financial statements, become current in its reporting with the Securities and Exchange Commission and the Canadian Securities Administrators and have its common stock meet the standards for obtaining re-listing on the Toronto Stock Exchange; competition in our target markets; potential capital needs; management of future growth and expansions; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's products and fee structures, and the success of BakBone's brand development efforts. Also, risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of international markets for BakBone's products. Such forward-looking statements should be considered in the context of these and other risk factors disclosed in our most recent report filed with the Securities and Exchange Commission, which may be found at http://www.sec.gov/, as well as those risk factors disclosed in our current report filed with the Canadian Securities Administrators, which is available on SEDAR at http://www.sedar.com/. All future written and oral forward-looking statements made by us or on our behalf are also subject to these factors. BakBone assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made, unless required to do so under applicable securities laws.

BakBone, BakBone Software and the BakBone logo 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, registered trademarks or service marks of, and used to identify, products or services of their respective owners.

BakBone Corporate Contact Karen Fisher 858-795-7525 [email protected] BakBone Media Contact Dani Kenison 858-795-7584 [email protected]

BakBone Software

CONTACT: Corporate, Karen Fisher, +1-858-795-7525,
[email protected], or Media, Dani Kenison, +1-858-795-7584,
[email protected], both of BakBone Software

Web site: http://www.bakbone.com/investors/Shareholder_Q&A.pdf

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...