Q: Could I get your thoughts/interpretation on latest news release from SYZ.
"Sylogist was not, at this time, selected for a master service agreement with the state of North Carolina Department of Public Instruction. To date, two larger organizations have been awarded agreements to compete in the North Carolina market once they pass a number of hurdles, including state compliance. The Department of Public instruction has, however, agreed to fund customer upgrades for the modern K12 certified solution. Given the lengthy process ahead for the new entrants' certification, testing and piloting of new system offerings, the timeline for selection and early implementation of replacement systems has been extended by 4 years or more from the original plan. The current plan leaves Sylogist with a much longer runway of continued support for its legacy system and funding for upgrades to its modern K12 system. The Company has adjusted the forward operating parameters in the business to address the current situation and these changes result in projected increased profitability over an extended period of time. On a financial basis the Company is very pleased with the developments in this market to date."
"Sylogist was not, at this time, selected for a master service agreement with the state of North Carolina Department of Public Instruction. To date, two larger organizations have been awarded agreements to compete in the North Carolina market once they pass a number of hurdles, including state compliance. The Department of Public instruction has, however, agreed to fund customer upgrades for the modern K12 certified solution. Given the lengthy process ahead for the new entrants' certification, testing and piloting of new system offerings, the timeline for selection and early implementation of replacement systems has been extended by 4 years or more from the original plan. The current plan leaves Sylogist with a much longer runway of continued support for its legacy system and funding for upgrades to its modern K12 system. The Company has adjusted the forward operating parameters in the business to address the current situation and these changes result in projected increased profitability over an extended period of time. On a financial basis the Company is very pleased with the developments in this market to date."