In addition, MAS purchased shares of Jaspin Interactive Inc. that represent 15 percent of the total issued and outstanding common stock of Jaspin on a fully diluted basis. The purchase price for the shares amounted to $159.000 and 40.000 restricted shares of MAS common stock. As part of the contractual relationship, Jaspin will allow MAS to host the ChatCentre and RoomCentre software to its partners and customers worldwide. Jaspin will provide an annual "Upgrade Subscription" and "Gold Support" on the ChatCentre and RoomCentre software. Throughout the contractual period, Jaspin will provide MAS with the option of upgrading its server licenses to site licenses at anytime, while offering MAS discounts on additional services, including but not limited to Web development services and other software products.
MAS will supply a secure application software provider (ASP) environment for the Jaspin software, provide limited ASP support and technical services, and give Jaspin the option of increasing its space at the Data Center at any time. MAS will provide potential customers of the Jaspin software with a location to demonstrate the real time applications and ASP environment of Jaspin's products and services. Mr. Greg Fontaine, President and Chairman of Jaspin Interactive Inc., commented: "This alliance means a great opportunity for us. Jaspin Interactive is preparing to launch a new ASP division, called Advantalink. The agreement provides us not only with an excellent partner, but also with one who can assist us with the marketing and hosting of our software products, services and solutions going forward."
Mr. Ron Pickett, President and Chairman of Medical Advisory Systems Inc., stated: "This agreement solidifies the MAS strategy of leveraging its 24/7 physician call centre to market its medical Internet Chats to both health care sites and providers. We believe that our chat service provides a strong value proposition for those health care players looking to provide their customers with improved service in a timely, cost-effective manner. Jaspin's proprietary software allows MAS to private label the 24/7 physician chat service and market it to a wider customer base. In addition, the MAS Data Center will host multiple software applications to customers in a secure environment."
In turn, the agreement with eResearchTechnology will last for one year, with an option for MAS to renew for a subsequent one-year term. eRT constitutes a major provider of Web-based research technologies and diagnostic services, dedicated to offering pharmaceutical and biotechnology companies the tools needed to improve and accelerate clinical research transaction processing. The agreement makes eRT responsible for providing its proprietary software, including modifications and upgrades, full training and technical support of MAS personnel in France, including the provision of software demonstration modules, pricing models, technical manuals and licenses. eRT will provide appropriate technical support from the marketing teams in the United States and Great Britain to support the sales effort of MAS and to help close deals, which would include personal assistance for sales presentations.
According to the contract, MAS will have the rights to sell eRT software and provide this service via the Application Service Provider model to potential customers in France. MAS will be responsible for creating an eRT franchise "storefront", hiring appropriate sales and marketing staff, with guidance from eRT, and translating eRT promotional materials, as well as bearing the associated costs. MAS will also create the marketing brochures and PowerPoint demonstrations, and translate them into the appropriate local languages if necessary. Thomas M. Hall, M.D., M.I.M, Chief Executive Officer of Medical Advisory Systems Inc., stated: "By leveraging the worldwide marketing and distribution strength of MAS with eRT's full suite of Web-based clinical research software, we feel this agreement creates a tremendous international growth opportunity for both companies.
Medical Advisory Systems Inc. has operated a 24/7, physician-staffed call centre in Maryland for almost 20 years. Via a global telecommunications network, MAS provides health care to ships at sea and remote locations, one-on-one chats with physicians via the Internet or telephone, as well as medical and non-medical services for the travel industry. MAS owns a 12 percent stake in the Paris-based CORIS Group, which provides it with the ability to offer its services in over thirty countries worldwide.