(OTCBB:PCYG) Park City Group, Inc

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Park City Group Completes Acquisition of Prescient Applied Intelligence

(OTCBB:PCYG) Park City Group, Inc.

Thursday January 15, 8:19 am ET

With All Business Integration Items Substantially Completed, the Combined Company is Already Providing to Retailers and Suppliers One of the Most Comprehensive Inventory and Labor Management Solutions

PARK CITY, Utah-Park City Group, Inc. , a developer of patented retail supply chain solutions and services, recently announced that it has completed the acquisition of Prescient Applied Intelligence following the shareholder vote yesterday approving the merger at a special meeting of Prescient shareholders. Park City Group has also completed the purchase of the remaining outstanding common stock and preferred shares of Prescient. As previously announced, Randall K. Fields, Chairman and Chief Executive Officer of Park City Group, had been appointed Chief Executive Officer of Prescient.

 

 

Financing for completion of the acquisition was accomplished with a combination of bank financing, operating capital, loans from Park City Group?s CEO and one of its Board members, and an investment made by a group of investors. All of the business integration items have already been completed since the merger plan was announced in September. Prescient has merged with a newly formed subsidiary of Park City Group and now operates as a wholly owned subsidiary.

Business Model Transition

It is important to note that Park City Group has now transitioned its business model from one that historically generated approximately 70% of its revenues from license-related business to one that now generates approximately 70% of revenues from recurring subscription-based customers. ?When this change in business model and its continued revenue stream are demonstrated to Wall Street, it is reasonable for us to expect that it will have a significantly positive effect on the valuation of the Company,? said Fields.

Full Business Integration Complete

Profile for Park City Group, Inc.

Park City Group, Inc., together with its subsidiaries, engages in the design, development, and marketing of application software products to supermarkets, convenience stores, and other retailers. It offers Fresh Market Manager, a suite of software product applications designed to help manage perishable food departments, including bakery, deli, seafood, produce, meat, home meal replacement, dairy, frozen food, and floral. This product provides profitability data on a corporate, regional, store-by-store, and item-by-item basis. The company also provides ActionManager, a suite of solutions that forecast labor demand, schedules staff resources, and provides store managers with the necessary tool... Detailed PCYG Company Description...

LAST $1.49 USD

SAFE HARBOR STATEMENT

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the Company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may



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