SCS Solars Computing Systems Inc. (“SolarNet”), a leading provider of information management and electronic distribution solutions for the travel industry, today announced that the United States Securities and Exchange Commission (the “Commission”) has informed SolarNet that it has no further substantive comments related to SolarNet’s registration statement, as amended, on Form 20-F. under the US Securities Exchange Act of 1934, as amended.
SolarNet files period reports required of a foreign private issuer with the Commission.
Frank Wells, Vice-Chairman stated, “This registration provides our US investor base with easier information access and is an important step in our goal to raise SolarNet’s visibility and profile in the US financial community.”
SolarNet is the only company interfacing with all four, airline established, global distribution system/computerized reservation system (“GDS/CRS”) networks and the Internet. Ninety-five percent of travel agents are connected to one of these four networks and this is how they conduct their daily business in search of travel product. SolarNet’s custom solutions to travel vendors, allows the Company to provide unique distribution of detailed travel information on any travel product, from any travel vendor, to travel agents. Travel suppliers which are not linked to any GDS network (often due to price), can market their products to the GDSs via SolarNet, reaching travel agents in a cost effective manner. These suppliers can provide up-to-date online information to travel agents, reducing the amount of print material, faxes and brochures that typically over burden travel agencies.
SolarNet has a proven track record of significantly bettering client productivity and profitability, with both a strong travel vendor and travel agent reliance on the system. To date, over 19,200 travel agencies have accessed SolarNet and in the USA, 47% of the 32,000 plus agencies have used the system. Agency activity continues to increase, with four of the top usage days ever, occurring this month.
On the information management side, SolarNet TourTek provides a unique inventory management and reservation system for tour operators, that combines the best features of all existing tour operator systems into one. Designed by tour professionals, TourTek is the only system that is both powered by Oracle, the world’s leading developer and distributor of database technology and completely hardware independent.
SCS Solars provides solutions in information management and electronic distribution for the travel industry.