This excerpt taken from the HMSY 10-Q filed Nov 9, 2006.
We are dependent on information suppliers. If we are unable to manage successfully our relationships with a number of these suppliers, the quality and availability of our services may be harmed.
We obtain some of the data used in our services from third party suppliers and government entities. If a number of suppliers are no longer able or are unwilling to provide us with certain data, we may need to find alternative sources. If we are unable to identify and contract with suitable alternative data suppliers and integrate these data sources into our service offerings, we could experience service disruptions, increased costs and reduced quality of our services. Additionally, if one or more of our suppliers terminates our existing agreements, there is no assurance that we will obtain new agreements with third party suppliers on terms favorable to us, if at all. Loss of such access or the availability of data in the future due to increased governmental regulation or otherwise could have a material adverse effect on our business, financial condition or results of operations.
On September 13, 2006, we completed our purchase of the assets of BSPA of PCG and issued 1,749,800 shares of its common stock for the purchase of the BSPA assets. In connection with this purchase, we entered into an agreement to register the shares with the SEC within 60 days from the completion of the BSPA purchase. The issuance of these shares were exempt from the registration requirements of the Securities Act of 1933,as amended, pursuant to Section 4(2) of the Act.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.