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Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement
in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers,
and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business.
In short, don't blame the accountants if the company files for bankruptcy protection.
You¿d reckon that a going-concern
statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically
bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know
more than the bean counters.
During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.
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Thursday, July 03, 2008
Lextech Launches iPhone Focused Sister Company
Comtex
LISLE, Ill., July 3, 2008 /PRNewswire via COMTEX/ ----Chicago area systems engineering company Lextech Global Services (Lextech) announces the launch of its new product-based sister company, Lextech Labs. After recognizing a need for increased mobility in the security and surveillance industry, Lextech Labs capitalized on Lextech's custom software development expertise by commissioning their engineering team to create a series of advanced applications for the iPod Touch and iPhone.
"Rapid growth for Lextech Global Services and demand for compelling iPhone software made the possibility to expand an exciting reality," said Alex Bratton, Founder and CEO of Lextech and Lextech Labs. "I'm always looking for creative ways to extend the reach of emerging technologies."
The initial family of products, with expected release dates spanning the next 6 months, will focus on the mobile control of high-end surveillance systems.
The first product scheduled for release by Labs will be iRa, a remote surveillance viewing and control system that puts the power of multiple live video feeds and direct camera pan-tilt-zoom control in the palm of your hand on an iPhone or iPod Touch. Product specifications, pricing, and release timing will be announced at a later date.
About Lextech Labs
Lextech Labs is a mobile application company based in Lisle, Illinois. Lextech Labs offers a line of easy-to-use surveillance software that allows users to access and control security cameras on an iPhone or iPod Touch. Products are an answer to a security industry need for increased mobility and have both personal and commercial security applications. Lextech Labs is a sister company of Lextech Global Services, a leading provider of systems engineering and support services. For more information, visit http://www.lextechlabs.com.
About Lextech Global Services
Lextech delivers revenue critical, software-based systems across every industry, ranging from security to finance. Product and service offerings encompass everything from software product and SaaS (software as a service) development to helping traditionally offline businesses reach online for new revenue. Lextech also offers various grades of systems support that include services like managed hosting and application management. For more information visit http://www.lextech.com.
SOURCE Lextech Labs
http://www.lextech.com
Copyright (C) 2008 PR Newswire. All rights reserved
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