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OneLink Needs Cash Fast

OneLink Inc., an Eden Prairie, Minn.-based ASP that offers telecommunications-based business intelligence services, announced today that it will be unable to continue operation beyond the end of May unless its receive additional funding in the next 30 days.

"OneLink's ability to generate cash flow has been severely compromised by the general downturn in the telecommunications market. This downturn has resulted in significant delays in deployment of our TeleSmart Web and TeleMetrics products by the Regional Bell Operating Companies (RBOCs,)" said Paul Lidsky, OneLink's president and CEO, in a statement released today.

"We took a number of aggressive cost reduction steps in the last half of fiscal year 2001 and have continued these efforts, as part of our plan to continue to operate through the current economic and technology sector downturns," said Lidsky. "Unfortunately, product launch delays are creating negative cash flow in excess of what we projected and our cost reduction efforts will not be enough to swing us into positive cash flow."

TeleSmart Web is designed to transform raw incoming and outgoing telecommunications data visual call management reports. The graphical reports are designed to give businesses a picture of marketing and operational issues, such as measuring promotional campaign results and adjusting work schedules. Maps, graphs and charts reveal when calls are received, when they go unanswered, when they're busy, how long they last and so on and are tracked by phone number and zip code.

The cash-strapped OneLink also announced that it has been unable to prepare or file its annual report on Form 10-KSB with the Securities and Exchange Commission. The report will be filed if OneLink obtains sufficient funding to do so, the company reports.


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