News about Helios And Matheson Information Technology Limited
March 13th, 2007
NSE Press Release
The media had reports that Helios And Matheson Information Technology Limited may acquire a company in Europe and the US.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Helios And Matheson Information Technology Limited has vide its letter inter-alia stated,”In the said media report, the Company official has expressed the intent to look at a deal in the range of USD 50 to 100 million in Europe/US. The Company constantly scrutinizes various proposals. It normally takes between six and twelve months before a good proposal matures into a workable deal.Further, the company is also evaluating a proposal to set up an off-shore facility at Coimbatore.”
Entry Filed under: Equity Markets, IT & ITes
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1. Bahadurlal | February 19th, 2008 at 6:11 pm
Helios & Matheson North America Inc Listed on Nasdaq involved inMoney Laundering in India Listed on BSE,NSE as Helios & Matheson Information Technology Ltd - Chennai
I am a shareholder of Helios & Matheson. I would like to share with you the following information on them:
Subject: SystemLogic Solutions Ltd
Internet Jewelry Firm Files $14 million Suit Against USWeb
By , The ClickZ Network, Jun 11, 1998
Articles | Contact | Subscribe
USWeb Corp. and one of its affiliates are the targets of a $14 million
lawsuit alleging breach of contract and fraud filed by anOrange County, CA
corporation in Los Angeles Superior Court.
The charges also include negligent misrepresentation, unfair competition and
false advertising on the Internet.
The lawsuit was filed by Larmark Inc., a Huntington Beach, CA-based
marketing company, against USWeb; its affiliate SystemLogic Inc.; based in
Santa Monica, CA; USWeb SystemLogic LLC., a subsidiary of SystemLogic; and
Kumar Rajha, owner of SystemLogic and USWeb SystemLogic.
According to Michael J. Emling of Emling & Associates, the law firm that
filed suit on behalf of Larmark, the lawsuit seeks $257,785 for fees paid by
Larmark to the defendants for services not provided; $300,000 for lost
business expenditures; $13 million for future loss of revenue; and legal
fees and court costs. The suit alleges misrepresentation and fraud, as well
as breach of contract.
Larmark was founded in 1997 to establish an Internet site that would be
dedicated to the jewelry trade. By purchasing memberships from Larmark,
jewelry retailers and wholesalers would be able to display and sell their
merchandise in a Web store. Larmark had secured the domain name,
“JewelryChannel.com.”
Based on its advertising and promotional materials on the Internet, Larmark
selected USWeb and contacted its office in Santa Monica.
The lawsuit says that Larmark entered into a $277,055 contract with USWeb
SystemLogic and, subsequently, on Dec. 12, 1997 received a “project plan”
that set out “milestones” for the work to be done and included completion
time deadlines. The plan called for a “functional working model” to be
completed by Feb. 2, 1998, and the entire project by April 6.
By the time the project was to be completed, Larmark reportedly paid 93% of
the contract. When the due date arrived, Larmark allegedly was informed by
USWeb SystemLogic that the work was not done because of the quantity and
quality of the personnel assigned to the project. In early May, Larmark
contacted USWeb at its corporate headquarters in Santa Clara, and requested
it complete the project. When USWeb failed to act, the lawsuit was filed,
Emling said.
Due to the alleged failure of USWeb and its affiliate to complete the
project, Larmark said it has lost the opportunity to participate in two of
the three most important annual national jewelry trade shows, which were
held in Las Vegas. The third critical trade show will be held July 18 in New
York.
“These lost opportunities undercut Larmark’s ability to meaningfully conduct
business for one year,” Emling said.
There was no immediate response fromUSWeb.
http://www.clickz.com/showPage.html?page=6801
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Financial Daily
from THE HINDU group of publications
Friday, September 08, 2000
SystemLogic goes in for name change
BANGALORE: SystemLogic India, a provider of e-business solutions has changed
its name to SystemLogic Solutions Ltd.
The name change follows the merger of SystemLogic India with its US
operations which was announced in July, a company release said.
After the merger, the US operations, SystemLogic Inc now functions as a
subsidiary of SystemLogic Solutions. — Our Bureau
http://www.thehindubusinessline.com/businessline/2000/09/08/stories/150839w4.htm
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