| Business Summary | | Docucon,
Incorporated
is
effectively
a
shell
company,
with
no
revenues
and
continuing
general
and
administrative
expenses,
as
a
result
of
the
sale
of
all
its
operating
asset
to
Bunt
Acquisition
Corporation,
a
wholly
owned
subsidiary
of
TAB
Products
Co.,
in
May
2000.
Prior
to
the
asset
sale
to
TAB,
the
Company's
primary
business
was
in
document
conversion.
As
a
result
of
the
sale
of
substantially
all
of
its
operating
assets
to
TAB,
Docucon
has
discontinued
its
operation.
The
Company's
ongoing
activities
are
related
to
efforts
to
realize
value,
if
any,
from
its
remaining
assets
(which
may
include
the
Company's
publicly
traded
shell),
payment
of
any
remaining
liabilities
including
income
taxes
and
a
potential
distribution
to
shareholders.
On
April
2,
2001,
the
Company
agreed
to
acquire
Digital
Vision
Systems,
Inc.
(DVS),
a
Nevada
corporation.
The
proposed
reverse
merger
of
DVS
into
Docucon,
expected
to
be
completed
in
June
2001,
would
result
in
DVS
owning
90.5%
of
the
combined
entity. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | DOCU
provided
the
automated
conversion
of
source
documents
into
electronic
form.
DOCU
sold
substantially
all
of
its
operating
assets
in
May
2000.
For
the
three
months
ended
3/31/01
the
Company
reported
no
revenues.
Net
loss
applicable
to
Common
from
continuing
operations
decreased
84%
to
$81
thousand.
Revenues
reflect
the
Sale
of
the
Company's
operating
assets
to
TAB
Products
Co.
Lower
loss
reflects
lower
SGA
expenses
due
to
the
operation
as
a
``shell''
Company. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Edward Gistaro, 64 Chairman | -- | Robert Schwartz, 55 Pres,
CEO, Director | -- | Warren Barratt, 40 Sr.
VP, CFO and Treasurer | $147K | Michael Mooney, 61 Sr.
VP-Sales | 153K | Michael Nunley, 55 Sr.
VP of Operations and Technology | 137K | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|