FlexiInternational Profile

FlexiInternational Software, Inc. (Flexi) designs, develops, markets and supports the FlexiFinancial Enterprise Suite of financial and accounting software applications and related tools. The Flexi solution, composed of FlexiFinancials, Flexi Financial Datawarehouse and FlexiTools, is designed to address the needs of users with financial accounting and operational analysis requirements. Flexi sells its software for in-house accounting operations, as well as through two types of accounting solution partners, including Flexi industry partners, which are software companies that want to private label FlexiFinancials to be seamlessly integrated with their own industry specific solution, and Flexi outsourcing partners, which will utilize FlexFinancials to provide the finance and accounting specific business process outsourcing service. During the year ended December 31, 2003, international sales accounted for approximately 17.6% of the Company's total revenues. FLXI designs, develops, markets & supports the Flexi family of financial and accounting software applications and related tools. The Flexi solutions are designed for users with sophisticated financial accounting requirements. For the 3 months ended 3/31/04, revenues fell 14% to $1.6M. Net income fell 72% to $95K. Results reflect the absence of $450K of one-time revenue related to a settlement with a reseller and increased product development expenses.