Information Technology and Solution Business in Illinois

Sale of Assets of Quadrant 4 System Corporation consisting of five (5) of the business units commonly known as "U.S. Solutions", "Hybrid Solutions'5, "Legacy Staffing", "QEDX Education Platform", and "India Solutions".

(1) "U.S. Solutions" ($2.2 million): The "U.S. Solutions" Business Unit provides information technology solutions (consulting, outsourcing and project delivery) serving customers all located in the United States in a variety of industries through service contracts which are typically short term engagements (i.e. 90 days). The Debtor's employees servicing U.S. Solutions customers are generally placed at client locations. As of the Petition Date, U.S. Solutions utilized the services of approximately 34 billable employees, and 5 sales, general and administrative, "SG&A", employees (although these numbers are subject to frequent change based on customer engagements). Projected annual revenues for 2017 are approximately $6 million.
(2) "Hybrid Solutions" ($2 million): The "Hybrid Solutions" Business Unit also provides information technology solutions (consulting, outsourcing and project delivery) serving customers only located in the United States in a variety of industries through service contracts which are typically short term engagements (i.e. 90 days). Hybrid Solutions uses employees of the Debtor in the U.S. and outsources some of the labor needed for Hybrid Solutions customers through a third party subcontractor, Quadrantfour Software Solutions (Pvt) Limited, an Indian limited company ("Q4 India"). Q4 India is a separate and distinct Indian corporation under different ownership and management from the Debtor. Most of the labor force utilized for Hybrid Solutions customers are placed at client locations. The Debtor employees approximately 28 billable employees in the U.S. for the Hybrid Solutions Business Unit. The Debtor also uses the subcontracting services of Q-4 India employees who are generally based in Chennai, India (approximately 248 billable and 60 SG&A employees - some billable and SG&A employees also provide sendees to India Solutions), also subject to frequent change in headcount). Projected annual revenues for 2017 are approximately S8 million.
(3) "Legacy Staffing" ($2 million): The "Legacy Staffing" Business Unit provides U.S. based consulting services, using employees of the Debtor and third party subcontractors, with back-office operations in Hyderabad, India. Staff is generally placed at client locations, with the Debtor's U.S. based employees totaling approximately 94 billable, and 4 SG&A employees. There are approximately 19 Q4 India employees utilized for SG&A purposes. All headcounts are subject to frequent change. Projected annual revenues for 2017 arc approximately $13 million.
(4) "QEDX Education Platform" ($700,000): The "QEDX Education Platform" Business Unit consists of a cloud based education information technology platform and products with applications for students, teachers, school administrators, school districts administrators, consultants and vendor partners. The Debtor uses a development team of Q4 India employees based in Chennai, India (approximately 19 SG&A employees). The Debtor's sales staff and management team, all in the in U.S. are approximately 24 SG&A employees. This Business Unit utilizes third party educational content and includes sales of the Brainchild™ "Study Buddy" educational/learning hardware. Projected annual revenues for 2017 are approximately $2.2 million.
(5) "India Solutions" ($500,000): The "India Solutions" Business Unit also provides information technology solutions (consulting, outsourcing and project delivery) serving only U.S. based customers in a variety of industries through service contracts which are typically short term engagements (i.e. 90 days). India Solutions also outsources almost all of the labor needed for India Solutions customers through Q4 India. All Q4 employees utilized are based in Chennai, India. The Debtor employs approximately 3 billable employees in the U.S. for the India Solutions Business Unit. The Debtor's use of Q-4 India employees also work for Hybrid Solutions customers (see above). Projected annual revenues for 2017 are approximately $2 million.

The Sale Assets are more described from “Page 12-13” on the attached PDF.