LAS VEGAS, NV, August 24, 2011
/24-7PressRelease/ -- Demand for the upcoming BaselineAgent IPO has skyrocketed in the past six weeks. The offering is over three hundred times oversubscribed and demand is still growing.
BaselineAgent, Inc., CEO and Chairman, Ramesh Kris Nathan attributes this demand to a number of different factors. "BaselineAgent is the only company in the world doing what we do. We have no competition. We also have found the way to keep our expenses down by automating most of the functions of our applications and we continue to develop new products and add new services."
BaselineAgent listens to its clients' suggestions on how to improve their products. Mr. Nathan said, "Our athletes are always suggesting new ideas. We take these ideas, analyze them, and see how we can incorporate them into our services. There is no better place to get ideas from than from our clients."
Due to the overwhelming demand, BaselineAgent IPO underwriters will exercise the Green Shoe Option or over-allotment option which gives them the right to sell investors more shares than originally planned.
At the current offering price, BaselineAgent, Inc. stands to see a $50+ billion valuation. A valuation at this level is not uncommon for technology companies, particularly those who are profitable and have no competition. BaselineAgent, Inc. is one of the only companies offering an IPO this year to be profitable. In fact, BaselineAgent is very profitable. The company's balance sheets are pristine and revenues have grown steadily in the past five quarters.
"We attribute our success to good management and a little luck", commented Mr. Nathan. "Our business model is solid and we continue to develop and expand at an extraordinarily fast pace."
BaselineAgent is currently the world's largest sports management company and the leader in the field of IT services for the sports industry. BaselineAgent became the pioneer in the field with the launch of BaselineAgent.com, the world's first and only online sports management application for tennis players. Since then they have introduced BaselineAgent for iPhone and a number of other proprietary applications.
A registration statement relating to the common shares to be sold in the BaselineAgent IPO is expected to be filed with the Securities and Exchange Commission, but has not been filed or become effective. The common shares may not be sold and offers may not be accepted prior to the time the registration statement becomes effective. This release does not constitute an offer to sell or the solicitation of any offer to buy, and there shall not be any sale of the common shares in any state in which such offer, solicitation or sale would be unlawful prior the registration or qualification under the securities laws of any such state.
This release contains "forward-looking statements" as defined under the Federal Securities Laws including, but not limited to, statements regarding BaselineAgent's intention to conduct an IPO of BaselineAgent's stock. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: adverse changes in general economic or market conditions, the inability to manage successfully and complete the IPO, including the ability to retain and attract key employees, the risk that the IPO of BaselineAgent may not occur in its expected timeframe or at all, and other one-time events and other important factors disclosed previously and from time to time in BaselineAgent's filings with the U.S. Securities and Exchange Commission. BaselineAgent disclaims any obligation to update any such forward-looking statements after the date of this release.
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