Company Acquisitions: Purchasing RS Staffing in June 2005 Doubled Our Size, Provided Entry Into The Growing Govt. Sector, and Access To A $7 Million Credit Line with PNC
FY04 TSTF loss from continuing operations $(1.8)m
3/31/05 identified approximately $1.0m additional overhead cuts
-$3.25m cash+$6.75m note/stock/earn out
FY04 $0.9 million pre-tax income including $1.2 million of non recurring expenses
*PNC Line of Credit was extended to $8 million in February ’06.