RE: Letter of Intent - Example" Think about it folks. A Letter of Intent, signed by Sabre, is money in the bank and will open many, many doors for SCS, once it's finalized."
Travellingboy, we all know what your agenda is.
No one said it would NOT happen but we certainly know that this LOI does not mean it's "money in the bank".
You would have been pumping, like you have since you came on this board, that the LOI below was also "money in the bank" but you weren't even around then. Talk about having an agenda. What a joke.
FOR IMMEDIATE RELEASE
SCS Solars Signs Letter of Intent for TourTek
Vancouver, B.C. - May 10, 2001 – SCS Solars Computing Systems Inc. ("SCS"), a leading provider of information management and electronic distribution solutions for the travel industry, today announced the signing of a detailed letter of intent (“LOI”) for the sale of a TourTek software license and support agreement with a major US leisure wholesaler. Amongst other items, the terms of the LOI contains pricing, an implementation schedule and a commitment to complete and execute a definitive agreement no later than June 1, 2001.
TourTek is a robust, state-of-the art, inventory management and reservation system for tour operators. TourTek combines the best features of all existing tour operator management systems into one and is the most complete and scalable solution available in today's market. TourTek is designed to grow as a business grows and gives the operator the power required to be the best. TourTek has partnered with the world's leading developer and distributor of database technology, Oracle. Oracle is a solution in use by over 80% of Fortune 500 companies. This relationship with Oracle means that TourTek will run on any platform, enabling companies to continue using software such as Microsoft and Adobe.
Since TourTek uses Microsoft Windows, the learning curve for employees is flat. All staff will be familiar with the format, so they'll quickly learn to perform tasks such as product loading, packaging, inventory management and reservations.
Designed for high volume processing and distribution, TourTek is the ideal in-house tour management and reservation system for outbound tour operators (or a combination of outbound/inbound) dealing primarily with travel agencies. Main features include the synchronization of multiple databases (accounts payable, accounts receivable, client documentation, etc.), reservations and inventory control (air, motor coaches, multiple island resort holidays, cruise, car, rail, etc.).
Larry O’Brien, Chairman and CEO of SCS stated, “ SCS is very pleased with the signing of this LOI, as it represents a commitment from one of the vast number of potential clients who are presently examining the system. As the LOI is very detailed, moving to a definitive agreement should be an easy process. There may also be other exciting relationships between SCS and the wholesaler’s parent company using the SolarNet distribution system, along with a strategic relationship to sell the TourTek software to specialty Tour Operators in North America. We are currently in various stages of negotiation with 16 companies for the use of our TourTek software. The company is working diligently to move these discussions forward.”
SCS Solars provides solutions in information management and electronic distribution for the travel industry. Proprietary products include SolarNet LiveLinx, LiveLinx*PLUS, NewsWire and TourTek. SCS Solars is a public company, trading on the Canadian Venture Exchange (CDNX) under the symbol SCS.
For more information contact:
Frank Wells 604-903-2040
Pat Wilson 604-903-2041
The Canadian Venture Exchange has neither approved nor disapproved of the information contained in this release. This Media Release may contain forward-looking statements, which reflect the Corporation’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ from those projected herein and depend on a number of factors including the success of the Corporation’s sales strategies.