BSD Software, Inc. 

Symbol: 
BSDS

Recommended: 
1/7/03

Price at 
1/7/03: $1.80

Target: 
$5.76 - $9.20 (FY2004)

52 Week Range: 
$0.33 - $8.52

Overview

Share-Related Items

Recent Price (4/11/03) 0.98
Market Capitalization $31.938M
Shares Outstanding 32.59M
Float (approx.) 1.14M
Quote

Triton Global Communications Inc., is a majority owned subsidiary of BSD Software (Nasdaq:OTC BSDS), which specializes in products and services that generate revenue for the telecommunication service providers and the hospitality markets. Triton has aligned itself with major Telecommunications providers allowing the Company to offer the most aggressive revenue sharing plan along with the most reliable service in the telecom industry. Triton is a customer service oriented company and has domestic and international representation. Triton’s qualified people are fully trained to assist and provide the client with structuring the best solution for their business.

Triton was incorporated in 1997 and is a leading provider of billing, clearinghouse and information management services to the Telecommunications industry. Triton's vision is to continue expanding its "live" and "automated" hospitality services while focusing on making emerging web based Information and transaction services easier to access and pay for. Triton believes that to be a successful international service provider it must conduct business in the language required by the customer. Triton’s core business is direct servicing the Canadian Hospitality Industry. Services include 0- and 0+ calls and the associated Billing and Clearing. In 2001 Triton expanded into the International Hospitality market using Master Agents as the distribution vehicle. 

Triton is the first fully implemented alternate billing agent within the Local Exchange Carriers (LEC) billing systems in Canada. Triton can provide billing services quickly within the LEC’s with its proven billing and integration service process. Triton communications is one of the only solution providers for LEC's to clear incoming and outgoing call charge records to the Canadian and North American market.  Triton’s ability to land charges at the consumer level bill and its negotiated inter-carrier agreements enables not only business but competing carriers to exchange call records for maximum profitability.

For additional information:

Triton Company Website - www.tritonglobal.ca

Investor/Corporate Relations
1-877-813-2419
info@tritonglobal.ca
sales@tritonglobal.ca

Analyst Summary
THE BIG PICTURE IS GLOBALIZATION!

Most International Companies outsource their billing services, particularly for services billed into the North American domestic market. Triton has strategically aligned itself with Partners that provide Globally accessible products.  Coupled with Triton’s unique software solutions, it allows the company to offer this Global marketplace with bundled or unbundled solutions.

Deregulation opened the way for entrepreneurs to enter a marketplace typically reserved for Businesses with “deep pockets”. With the advent of the computer industry and online services via the Internet, it became possible for visionaries to find niche markets that had been virtually ignored since there was no simple and cost effective way to monitor and track call usage within a single business that used operator assisted service.

Triton is able to identify a segment of the Telecommunications industry that was being ignored.  This was the Hospitality Industry.  Hence Triton Hospitality Communications was born. It took many years to develop software that was capable of tracking call usage in Hotels so as to offer a revenue stream back to the Hotel owner from calls made by his customers from his premises utilizing operator assistance. 

The next challenge was to construct the billing platform that would be acceptable to the Big Telcos (ILEC’s). Triton developed a program that would interpret strings of data (EMI) and bill out the call time so that everyone associated with the call would get paid for their share of the service. Triton was so successful in developing an attractive billing platform that it was evident that Triton would need to develop a world-wide accessibility to its operator and language platforms to offer an unbeatable solution to this Global market.  The services offer cream of the crop solutions to cream of the crop providers.  The effectiveness of Triton’s billing platform is proven in the fact that many International Telcos are approaching Triton to facilitate some portion of their billing and or network needs, particularly in Canada or calls that land in Canada.

The future will be in convergence billing. This is where multiple consumer services will be billed on one bill. Triton’s software systems already have the capability for convergent billing with sophisticated internet functions for E-Billing. Triton is positioning itself now for the future.

Triton’s “rapid time to market” ability simply CANNOT be beaten and will surely be one of the driving forces that makes Triton attractive to many SME’s that want to enter the telecommunications Industry and are currently blocked because of their inability to meet minimum requirements from the Big Telcos who are already referring these entry level players to Triton in order to have their billing processes settled.

Triton's forecasts show impressive growth. FY2003 Earnings Per Share are projected at $.0957 and FY2004 EPS is projected at $.3719, a 2886% growth! We place Triton in the Communications Services Industry of the Services Sector. Utilizing the 24.75 Price to Earnings Ratio of the Services Sector we project the following prices:

  • $2.36 for FY2003, a 311% return on investment from price at recommendation
  • $9.20 for FY2004, a 4111% return on investment from price at recommendation

Even when we use the more conservative Communications Services Industry P/E Ratio of 15.49 the Target Price for FY2004 is $5.76, a 2200% return on investment from price at recommendation.

HOT LINK - Market & Competitive Analysis

Note: To meet the minimum suggested target prices, the Company would have to trade at least at the Communications Services Industry multiples and the Company would have to achieve earnings and revenue estimates provided by management for this report. A divergence either up or down from the projections could materially affect the target prices.

Business Description

Triton has sophisticated proprietary software and hardware services that are capable of processing unlimited call records every month for telecommunications companies worldwide. They track and process bills for a wide range of services, from local and long distance operator services as well as paging, voice mail, Caller ID, phone cards and other “ease of access”, 0+Plus dialing solutions. Triton has also developed “flat-fee” billing solutions that will benefit Internet providers.  With this recent addition of services for the Internet community, Triton has moved to meeting the needs of an even broader range of communications companies. To ensure optimal customer satisfaction, Triton has developed and secured several strategic alliances within the industry that are key to the successful service and maintenance of its client support systems and the delivery of advanced features. 

With incumbent local exchange carriers (ILECs) and competitive local exchange carriers (CLECs) entering the market, the age-old challenge of billing for services became a challenge.  CLEC’s rushing to gain a competitive advantage could not execute in all areas of customer service, including billing services, which would seem to be the most integral part of the puzzle.  It is into this sector that Triton made its market entry, seizing the opportunity to enter the deregulated market and specialize in billing and clearing services and providing these services to CLEC’s and LEC’s.

Current Product Offerings:

  • Billing and Collection

  • Global Operator Services

  • 0+ (Zero Plus) 0- (Zero Minus) Operator Services

  • Multilingual Translation Services International Conference Calls

  • Global Origination and Termination

  • Travel Cards

  • Prepaid International Calling Cards

  • ITFS (International Toll Free Service)

  • Advanced Network Solutions for the Telecom and Hospitality Industry

Current Revenue Streams:

  • Billing and Collection

  • Global Operator Services

  • Global Origination and Termination

  • Prepaid International Calling Cards

  •  ITFS (International Toll Free Service)

  • Advanced Network Solutions for the Telecom and Hospitality
    Industry

Triton is realizing significant growth from large Telecommunication Companies (Teleco) by providing billing solutions. Triton can negotiate New Service Agreements and test them, thereby producing a more “rapid time to market” approach for new customers.  This aggressive “to market” mentality allows Triton to appeal to Large and Small companies alike with brand new “billing paths” that include new products and services.Triton’s vision encompasses the changing market place.  Triton’s ability to react quickly to the changing market makes them an attractive alternative to costly in-house billing systems.

HOT LINK - Detailed Product and Services

Key Management

Guy Fietz, Chief Executive Officer - Guy Fietz has been in the telecommunications industry for over five years and has established Triton as a profitable Telco billing services company with net revenues in the millions. Mr. Fietz had the vision to see a gap in Telco billing services and strategically developed a system that addressed this market need. He was instrumental in bringing together a team of qualified engineers to develop advanced processing technologies and a sophisticated software/hardware approach specifically for telecommunications billing systems. Since launching Triton, he has managed operations and lead successful growth.  Mr. Fietz will continue to direct the Company post merger with Wayside Solutions. Prior to his work in telecommunications, Guy Fietz operated ventures in the hospitality market.

Robert Treumann, President - As an experienced senior executive with significant accomplishments, Mr. Treumann brings to Triton relationships developed over fifteen years in the telecommunications and high technology industry. He is an effective market driven leader with a superior ability to develop, focus and motivate cross-functional teams to deliver results. Mr. Treumann has a proven track-record managing P&L/operating budgets, sales, marketing, product development and customer service. He is an innovative and clear communicator with the ability to create enthusiasm and successfully achieve the corporate vision. Prior to joining Triton, Robert was President of Time ICR an Ottawa based speech recognition application service provider and spent five years at Sprint Canada where he held several senior management positions including President, Enterprise Communications Solutions.

Linda Krawczyk, CGA Controller - Analytical, results oriented manager with a proven track record in Finance and eCommerce in both start-up and large multi-national telecom/technology firms.  Strong interpersonal and leadership skills with solid business acumen.  Possess diversified experience in finance, planning, pricing, and project management with ability to lead organizations through periods of rapid change.  Extensive background in telecommunications such as Telus, Nortel Networks, Mitel and Bell Canada.

Michiel Bridges Vice President, International Sales - Mr. Bridges is the ex-Director of International Operator Service Sales for Qwest Communications.  Mike has more than eighteen years experience in telecommunications for the hospitality operator service industry.  He has extensive experience in the international market – residing in Puerto Rico, Mexico, Dominican Republic and Venezuela in the past. Mike’s responsibility is to grow the international market through the development of international agents and direct sales to large international groups.  The development of new products and access methods will also be one of Michiel’s challenges.  Michiel’s extensive managerial background brings immediate strength to his department

Robin L. Legg Vice President, Business Development - Over sixteen years of sales management experience in a highly competitive Telecommunications industry.   Acquired extensive expertise in team leadership, business development, strategic sales planning, and contract negotiation.  Dedicated to establishing client relationships and loyalty throughout and beyond the sales cycle.  Robin has been instrumental in developing and implementing strategies for the backbone Triton needed to launch its Language Translation Services on a Global scale. Robin has had a strong career with companies such as Telecom Cost Management Inc., CanTalk Canada, BCI Commcor, Nortel Networks and Bell Canada.

Recent News
April 11, 2003

March 18, 2003

March 10, 2003

February 24, 2003

January 14, 2003

December 3, 2002

November 19, 2002

November 18, 2002

November 13, 2002

November 4, 2002

October 24, 2002

Contact Information

Investor/Corporate Relations
1-877-813-2419
info@tritonglobal.ca
sales@tritonglobal.ca

Visit the Company Website at www.tritonglobal.ca. 

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