This excerpt taken from the ITRA 10-K filed Apr 22, 2005.
We were incorporated in Delaware on August 14, 1996. We are a leading provider of ESDM solutions. Our ESDM solutions help software publishers reduce operational and support costs, increase customer satisfaction and retention, accelerate and strengthen the software revenue recognition processes, and comply with U.S. export regulations. We also offer complementary products and services, including enterprise software sales and marketing, and global web-based content caching and delivery.
We have incurred losses and negative cash flows during each fiscal year since inception. For the year ended February 28, 2005, we narrowed our net losses to approximately $1.9 million. Despite our improvements, we continued to experience recurring losses and negative cash flows from operations for the year ended February 28, 2005. Under our June 2001 agreement with Software Spectrum, we provide Sales and Marketing Services to Software Spectrum to assist in its resale and marketing of Sun and Websense software licenses and maintenance. This contract accounted for more than 10% of our total revenues in our 2005 fiscal year. The term of this agreement will expire in June 2005, is renewable for subsequent one-year terms, and may be terminated without cause by either party on 90 days notice. It is possible that Software Spectrum will terminate this agreement without cause or will choose not to renew the agreement at any renewal point. Any termination or non-renewal of our agreement with Software Spectrum, or termination of Software Spectrums rights to resell Sun software, would likely cause a substantial and immediate decrease in our revenues. We believe that the effects of our capital financing, strategic actions implemented to improve revenue, and cost controls will be adequate to generate sufficient cash resources to fund our future operations. However, if we fail to sufficiently increase our revenues or control spending, our business could be materially adversely affected.