QHR Operations Update
On June 27, 2000, Consolidated Team Resources Corp. acquired 100% of New Horizon Technologies Inc. (“NHT”) and subsequently changed its name to QHR Technologies Inc. (“QHR”).
QHR’s mission is to become a global leader in human resource (“HR”) software. The Company is developing a single software solution designed to handle all elements of HR management including human resource inventories, staff scheduling, payroll and database management.
Management continues to develop this suite of HR products under its marketing name, Quadrant HR. Trademarks for Quadrant HR are pending in both Canada and the United States. The design objective of Quadrant HR is to assist HR managers in the delivery of the right person, with the right skills, to the right job, at the right time and at the right cost to the organization while providing productivity gains and cost benefits to the enterprise.
NHT began commercial marketing of the HR and payroll modules of Quadrant HR in fall 1999. Revenues have grown steadily to surpass one million dollars and continue to grow. Various marketing rights for an award winning staff scheduling software to be included in Quadrant HR product offerings have been secured by agreement with Total Care Technologies Inc. This scheduling software solution has maintained a dominant position in healthcare facilities in Canada and has made substantial inroads in the United States and Australia.
Product development has been on going and capital resources have been dedicated to the total integration of all Quadrant HR modules with Internet capabilities. An industry version of Quadrant HR has been under development and several commercial industries have been targeted for market introduction. These industries should provide QHR with substantial revenue opportunities by utilizing a new business model that has been developed over the past year to improve affordability, cash flows and profitability.
Going forward, QHR has established both long and short-term objectives as follows:
• The development of global recognition, acceptance and adoption of Quadrant HR as standard HR software products for all industries.
• The rapid growth of profitable revenues through its new business model.
• The careful management of operating costs to improve profitability.
• The acceleration of corporate growth through aggressive research, increased customer base, mergers and acquisitions.
• Aggressive development and deployment of Quadrant HR to a wide base of commercial customers.
QHR maintains an experienced management team that will utilize a proven business model to deploy Quadrant HR. The Company will promote the Quadrant HR trademark and maintain its technological infrastructure to ensure that all products maintain high quality and meet customer needs.
Management is committed to the development of a business and public image that will provide liquidity and returns on investment by working to increase the value of QHR Technologies Inc. on behalf of its shareholders. We invite interested parties to visit our web site at www.quadranthr.com to better understand our business and the investment merits of the Company.
On behalf of the Board of QHR Technologies Inc.
Al Hildebrandt Chief Executive Officer and Director
