Science & Technology
Science and Technology
Science and Technology
Tue, December 15, 2009
Mon, December 14, 2009 Brainybrawn, Inc. Updates on Its Progress and on Growth of Sanvi Infotech Pvt. Ltd's Business in India
ALLENTOWN, PA--(Marketwire - December 14, 2009) - Brainybrawn, Inc. (
During the past few months Sanvi Infotech Pvt. Ltd (India) has successfully sold (a) HEALTHLYNX Rx 9.0 Wholesale -- information and business management solution for pharmaceutical wholesaler, (b) SANVI Mart 7.0 -- information and business management solution for general retail store, and (c) SANVI RMS 7.0 -- information and business management solution for restaurant.
In addition the Company has announced that its unaudited revenues for the first quarter ending 30 June 2009 were $20,786, a substantial increase from unaudited revenues of $1,513 in the first quarter of 2008. The net loss for the first quarter ended 30 June 2009, on an unaudited basis, was substantially reduced to $18,923 as compared to the net loss for the first quarter ended 30 June 2008, on an unaudited basis, of $58,143.
Brainybrawn, Inc. ("the Company") through the intended acquisition, pursuant to the terms of the Share Purchase and Business Transfer Agreement dated 15 May 2009, of Sanvi Infotech Private Limited (India), seeks to assist retailers, wholesalers and healthcare and hospitality providers, in India, by developing products and services to help support, and market their practices and businesses with innovative technology and business solutions such as office and business automation and comprehensive information management software. The acquisition of Sanvi Infotech Pvt. Ltd awaits completion, pending filing of appropriate forms with Indian authorities. The Company currently also provides discounts, at the point of service, through network of participating providers, on healthcare products and services to consumers in the USA.
Disclaimer
THE COMPANY HAS COMPILED ITS FINANCIAL STATEMENTS WITHOUT AN AUDIT FOR ITS QUARTERS IN 2007, 2008 and 2009 & YEAR ENDS. THERE HAS BEEN NO INDEPENDENT REVIEW OR TESTING OF THE COMPANY'S ACCOUNTING PRACTICES AND PROCEDURES, AND NO INDEPENDENT OPINION IS BEING GIVEN WITH RESPECT TO THE COMPANY'S COMPLIANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. THERE CAN BE NO ASSURANCE THAT SUCH AN AUDIT WOULD EVER BE COMPLETED AND, IF COMPLETED, THE FINANCIAL STATEMENTS BE SIMILAR TO FINANCIAL STATEMENTS WHICH HAD BEEN AUDITED AND THEREFORE SHOULD NOT BE RELIED UPON BY PROSPECTIVE INVESTORS.
Forward-Looking Statement
This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. The words "may," "would," "will," "target," "proposed," "expect," "estimate," "anticipate," "believe," "intend," "projects," and similar expressions and variations thereof are intended to identify forward-looking statements. Both Brainybrawn Inc. and Sanvi Infotech Private Limited (India) are early stage companies with limited revenues and history of continued losses since their inception, and continue to be dependent upon outside capital to sustain their existence. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and statements filed or distributed elsewhere.
