Saturday, July 9, 2011

Acceleware news release shows a very positive accomplishment - with lots of potential

Acceleware Ltd. (TSXV:AXE) has released a news release on July 7, 2011, in which they have reported the successful completion of a professional services engagement with MicroSeismic, Inc. For those who may not be familiar with who MicroSeimic Inc is, and what they do, let's take a look. I would like to cover just briefly what Acceleware does for the benefit of anyone not yet familiar with them.

Acceleware provides High Performance Computing software solutions to the Oil & Gas and Computer Engineering markets for multi-core CPUs and compute GPUs. Additionally, our HPC consulting services are utilized by enterprises needing to harness the power of parallel computing. At Acceleware the goal is always the same – Go Faster!
Acceleware develops and markets software acceleration products that bring unparalleled performance and speed to today's most strenuous and challenging compute and/or data-intensive demands. With Acceleware solutions installed, computer processing for data processing and simulation applications can benefit from speed-ups of 10x to 50x. Acceleware also uses its unique expertise for providing consulting services for companies, and research institutions involved with High Performance Computing. These services include architecting multi-core processing solutions, code porting and training.
Our customers share a common and urgent need - the need for powerful and timely computer modeling and testing. They are pushing the boundaries of innovation and demand faster product-development cycles for more complex products. They want more effective tools to interpret vast amounts of data.
With Acceleware's products and services - you buy time.
Our target markets are served by a network of distribution partners and include: computer aided engineering, oil and gas, image reconstruction, pharmaceuticals, defense and other HPC related industries.

This should help us all to easily see the value that Acceleware could bring and has brought to MicroSeismic. MicroSeismic is not just your average oil and gas player, they are in fact quite prominent in their area of this sector. They were incorporated in 2003, and the purpose of the company was to commercialize passive seismic. From their very inception they appear to have aligned themselves with some of the more powerful companies in this sector. They received venture funding in the amount of $450,000. The lead investor was the Altira Group of Denver, Colorado joined by Chevron Technology Ventures, the venture capital arm of Chevron Corporation. MicroSeismic has a lengthy list of accomplishments which can be seen at http://www.microseismic.com/history.html.
Also of note in the history of MicroSeismic is the fact that they have built a nice track record of increasing revenues. For example, in 2006 they doubled their revenues over 2005. In 2007 they again realized a huge gain in revenues with an increase of 231% over 2006. Again in 2008 they realized a gain of 25% in revenue. I would dare say this is quite impressive since this was the beginning of the economic crisis that became a global economic crisis. To drive this point home, MicroSeismic reported record revenues for 2009.

As MicroSeismic has progressed from 2003 to present, they have in a very literal sense, turned themselves into a prominent international company. In 2008 they doubled  the size of the North American sales team, hired a VP of Sales for US, named a VP of Sales for International, added sales representatives in China, Argentina, and Mexico. Then just last year they opened offices in both Poland and China. This truly is a company with a very focused mission, and as such, I think all shareholders and prospective investors alike should be able to see the potential of this relationship.

The management of MicroSeismic is very experienced and display dedication and commitment.

Dr. Peter M. Duncan

Founder and President

Peter M. Duncan is founding President of MicroSeismic, Inc. a Houston based geophysical service company. He holds a Ph.D. in Geophysics from the University of Toronto. He began his career as an exploration geophysicist with Shell Canada before joining Digicon Geophysical, first in Calgary then in Houston. In 1987 he helped Digicon found ExploiTech Inc, an exploration and production consultancy. He was named President of ExploiTech when it became a subsidiary of Landmark Graphics in 1989. In 1992 he was one of 3 founders of 3DX Technologies Inc., an independent oil and gas exploration company where he served as Vice President and Chief Geophysicist. Duncan was 2003-04 President of the Society of Exploration Geophysicists (SEG). Duncan was the Fall 2008 SEG/AAPG Distinguished Lecturer speaking on the subject of passive seismic at 45 venues around the world. He is a Life Member of SEG and an Honorary Member of the Canadian Society of Exploration Geophysicists (CSEG) and the European Association of Geoscientists and Engineers (EAGE).
To see some of the exceptional milestones achieved by MicroSeismic take a look at their website at http://www.microseismic.com/

When Acceleware conducted a restructuring arrangement back in April of 2011, (http://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn%5Fnewsreleases%2Easp%3Fsymbol%3DV%2EAXE%26newsid%3D8144079), it was stated that the nearly 1M dollars of non-dilutive financing received by the company, would be used to accelerate its product development efforts, to increase its marketing and sales presence in its target markets, and for general working capital purposes. This latest news release would indicate that management is definitely on-track with the model they previously stated. The success that MicroSeismic has realized through the use of Acceleware's software and training will undoubtedly bring many benefits to both companies. This also helps the industry to see the actual benefits of engaging AccelewareAcceleware is all about, and I believe the type of success enjoyed in this news release is just the beginning of where Acceleware will progress to. Geoff Clark and the entire Acceleware team deserve recognition for an excellent effort. This will definitely help to unlock some of the value that this company possesses in the form of their proprietary software technology. As a shareholder of Acceleware I find this quite re-assuring, in that they have proven, that the potential of Acceleware stands to be extremely good looking forward. I anticipate we will see more of this type of work in the coming months, which will help to bolster my belief that the potential of Acceleware has only started to be uncovered.
For those who may be interested in Acceleware as an investment possibility, I suggest doing your own due diligence. An appropriate place to start would be at Acceleware's website which can be found at http://www.acceleware.com/.

For disclosure purposes I have received no compensation of any kind for this post. I do own shares of Acceleware.   



 

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