With us today we have Mr. Chris Bulger, Chairman of the Board for Northcore Technologies, Inc. Northcore Technologies trades on the OTC bulletin board under the ticker symbol NTLNF, and on the TSX Exchange under the symbol NTI and is currently priced at around $0.20 a share. Northcore Technologies is a provider of unique and proprietary enterprise software solutions served in an ASP, or “application service provider” environment that allows their corporate clients to more efficiently purchase, sell, track, appraise and manage large pools of capital assets across their business enterprises. Northcore Technologies is a 50% shareholder of GE Asset Manager LLC, a joint venture between the Company and GE Commercial Finance through which Northcore’s solutions are provided within GE and to key customers of GE. Good afternoon Chris and welcome to CEO Audi-Bulls.
Chris Bulger: Hi Clay. Thank you for the opportunity to talk with you about Northcore.
BabyBulls: Well, great – it’s a real pleasure to have you on the show today, and we’re glad you could make it. Chris, let’s start out today with Northcore Technologies core product, the “Working Capital Engine” platform. Can you break this product down to the basics for our listeners and give us some insight – and possibly some examples – as to how the value of these software tools is provided for your customers?
CB: Yes, sure Clay, as a start, the general category is really asset lifecycle management, and as we break our products down, the real benefit is that each product helps to liberate working capital for customers. So we start with asset buyer, and there is really four products we have: asset buyer, asset tracker, asset appraiser and asset seller – that cover the lifecycle of an asset in an organization. So we start with asset buyer – we offer a more rigorous and effective sourcing methodology so companies can save money when they’re buying their assets. The second one, asset tracker – helps companies save money by tracking the utilization of existing assets and helping them redeploy underutilized assets in one area of their business where they can be better utilized in another area – before they have to spend money to try and buy new assets. The third area – asset appraiser, helps companies get a better understanding of the fair market value of these assets so it helps them to manage a more professional appraisal process, so they have more useful analytics, or information when they are trying to sell used assets. And then finally asset seller is really a way of improving the efficiency and recovery values from the sale of used equipment when it is ready for sale. So each one of these products contributes to working capital benefits for customers, and each one can work independently and they also can work together to increase the overall working capital benefits for customers.
BB: Right, so it’s a way of saving money throughout the entire lifecycle of these assets.
CB: That’s correct.
BB: Chris, from what we have read in some of your filings, a tremendous amount of work has gone into developing these software solutions that make up the nexus of the GE Asset Manager relationship. Can you tell us a little about the history of Northcore and more specifically the history behind the development of your suite of asset management software products?
CB: Well, we began as one of the early online auctions in the business-to-consumer sector, and with patents around the declining price auction, or a “Dutch” auction as a form of interactive commerce.