STOCKHOLM, Sweden, Feb. 20, 2002 (PRIMEZONE) -- Sign On AB (publ) financial information January - December:
-- Net sales increased by 60% and amounted to SEK 22.6 million
(14.2).
-- Profit/loss after net financial items SEK -25.6 million
(-34,2).
-- Liquid assets and current receivables amounted to SEK 11.8
million (29.2).
Fourth quarter
-- Net sales increased by 83% and amounted to SEK 8.4 million
(4.6).
-- Profit/loss after net financial items SEK -3.2 million (-10.8).
-- Favourable statement on the patentability of FormPipe from
WIPO/PTC.
-- Contract with SEB concerning Banks' ID service for electronic
signatures.
-- Collaboration with EDS on the FormPipe software in Scandinavia.
Important events after the end of the fourth quarter
-- Frame contract with Posten AB on FormPipe and other things.
-- Posten AB new shareholder through a directed new issue of
170,000 shares that brought Sign On SEK 5.6 million.
-- Breakthrough for FormPipe in the local government field, deal
with City of Stockholm.
Future prospects
-- 2002 has begun very well for Sign On. Work continues in order
that FormPipe may acquire the status of a de facto standard that
Sign On Forms Archive has already achieved. The market for
FormPipe will mainly be worked up by partnerships.
About Sign On
Sign On is a software company offering a total solution whereby everyone can quickly and cost-effectively use electronic forms and documents and send information over the Internet with or without electronic signatures. This is done by the in-house developed program FormPipe. Sign On also supplies electronic forms, documents and standard form contracts. FormPipe's business model is rather like that of a teleoperator with the essential difference from the cost point of view that Sign On needs neither to subsidise the hardware (the computer) or build the infrastructure (the Internet). FormPipe customers pay a fixed rent together with a variable transaction charge. The business model for the Sign On Form Archive is annual subscription. Sign On has 61 employees and offices in Danderyd, Stockholm.
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