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Chairman's Comments


CHAIRMAN'S COMMENTS given at ENHERENT'S annual meeting held on May 23, 2006 at 825 Third Avenue, New York, New York 10022.

 
 
Before we begin a short business presentation, I would like to point out that some of the things we discuss here today will constitute forward looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. We wish to caution you that such statements are predictions, and actual events or results can differ materially. We refer you to the risk factors and cautionary language contained in the company's current filings with the SEC. Those documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward looking statements.
 
As you know, the merger of enherent Corp. and Dynax Solutions, Inc. was completed on April 1, 2005. The focus during our first year as a combined entity was to integrate the staff and business processes to achieve the revenue and expense synergies identified in the Joint Proxy Statement/Prospectus dated February 7, 2005 that was sent to shareholders. We successfully completed the cost synergies through a reduction in administrative personnel and operating expenses, standardization of compensation plans, implementation of common healthcare and 401 (k) programs, consolidation of payroll, billing, accounts payable, collections and financial reporting to a single platform operating from our corporate office located in New York, New York. We also have begun to successfully execute on our cross-selling strategy in our largest client accounts. Our revenues have been stable during our first year of combined operation and we reached profitability in Q3'2005. In addition, we brought on a new Chief Financial Officer (CFO) to strengthen our management team.
 
Our focus continues to be shareholder value. Our business plan includes organic growth while continuing to stabilize our revenue base and completing selective acquisitions. We have limited capital to fund our business plan. Therefore, since the start of the year we have been actively exploring sources of additional capital. We have also identified and are in the process of evaluating a number of acquisition prospects. Our goal is to raise capital to fund a first acquisition that will create a platform for organic revenue and earnings growth and future acquisitions. 
 
As we solidify our business plan we will commence a formal communication plan with our shareholders.
 
Finally, I would like to thank you, our shareholders, for your confidence, support and ownership of enherent Corp. You can be confident that the management team will continue to focus on enhancing your value in the company.