Atlas Technology Group Inc (ATYG)

Description:

Atlas Technology Group, Inc. was incorporated in August 1998 as Tribeworks Inc., a California corporation. On November 2, 1999, the Company entered into a transaction with Pan World Corporation, a publicly-traded Nevada corporation whereby Pan World agreed to provide financing in connection with the merger of a newly formed subsidiary of Pan World into California Tribeworks. Prior to the Recapitalization, Pan World had no material operations. As a result of the Recapitalization, shareholders of California Tribeworks exchanged all of their shares of California Tribeworks for Pan World common stock. To the Recapitalization, the Company was reincorporated in Delaware as Tribeworks, Inc. and at its Annual General Meeting it changed its name to Atlas Technology Group, Inc. The Company is in the business of providing custom outsourced application software support services to its customers. These services range from supporting specialized networks and single applications to providing entire IT infrastructure management for customers who want to outsource IT application support and focus on their core business competencies. Through partnerships with other IT development consultants, fully outsourced IT services could be provided with hard performance metrics and predictable costs. Atlas Technology Group offers its services worldwide, with the majority of its targeted customers having domestic or multi-national operations. The Company's operations are designed to be a distributable venture, with the ability to place people in the locations so that it could provide a seamless service offering across the world. There are number of traditional consultant competitors competing with the Company, including IBM Global Services, Hewlett-Packard, Electronic Data Systems Corporation and Accenture Ltd., as well as a number of smaller companies. Laws regulating the Internet both in the United States and internationally are constantly changing. A number of laws or regulations might be adopted or amended regarding Internet user privacy, Internet security, taxation and pricing, quality of products and services and intellectual property ownership, which might apply to the Company.