326 1st Street, Suite 38
Annapolis, MD 21403
Ph: (410) 626-9773
Fax: (410) 626-9774
Pierce Quinlan, Chairman & CEO
Gary Almond, Executive VP & Chief Technology Officer
Product Line or Service LearnScape offers a portfolio of
computer-based education and training programs and services in the following categories:
1) Basic Skills in reading, math and work habits; 2) Career skills such as communications
and sales skills and telecommunications fundamentals; 3) Workplace and regulatory skills
such as safety & health, team building, affirmative action, and ISO 9000 standards; 4)
Learning Management through an Internet ready product and 5) Training services including
customized software development and the outsourced management of corporate training.
Technology/Proprietary Rights LearnScape has licensed the Job
Skills Education Program from the US Army and is in the process of converting this program
into the Windows format and LearnScape is advance marketing the program under the name
skillsCOMPASS. The product will be completed in the Fall of 1998. LearnScape also
owns the rights to its Learning Management Product. Other products are licensed for resale
from the manufacturers.
Market Opportunities The computer based training market is
growing at a 35% annual rate according to Smith-Barney. Robertson Stephens & Co.
estimates the total market will grow to $5B annually by 2001. The National Alliance of
Business estimates that over 50% of training will be technology based in 1998. LearnScape
is focusing on the corporate and community college markets initially and has developed
joint ventures with community colleges.
Marketing/Sales and Distribution LearnScape markets through
direct sales staff to mid and large sized corporations, through distributors to public
agencies, schools and prisons, and over the Internet through our joint venture with the
CyberChalk Learning Network. The skillsCOMPASS product will be marketed heavily to
public agencies and welfare to work programs. Presently over $2 million in prospects are
being worked by the limited direct sales staff.
Competition The principal competition is from individual
trainers who provide instructor-led training. The corporate competition is from TRO (TUTR)
Learning with $35M in sales and the Industrial Training Corporation (ITCC) with sales of
$22M. Instructor led training is quickly being replaced with technology based training
because of lower cost and better learning retention.
Manufacturing Not applicable.
Financial Revenues in 1997 were $100,000, projections for 1998
are $500,000 and $2,561,000 in 1999. In five years, LearnScape will be a $35M Corporation
with net margins of nearly 30%.