By Allan Maurer

UPDATED ATLANTA, GA—Dr. George Morris, president of California-based Morris Business Development Co., has acquired a minority interest in Atlanta’s multimedia training company MindIQ Corp. Morris and Associates will help the company prepare to file with the U.S. Securities and Exchange Commission to go public.

Morris tells TechJournal South he is acquiring a 48 percent interest to partner equally with the founder, Louis H. Bernstein, CEO, but the deal involves management services not cash.

“Cash will come from other sources to provide growth as we prepare the company to go public,” he says.

Morris says, “arrangements include providing extensive consulting help from Morris and Associates, which has years of multimedia training creation and sales experience.

Morris and Roger Casas and additional sales and IT staff will join the company. Morris and Casas created a multimedia computer program that sold more than 1 million copies.

Other Southeast acquisitions possible
MindIQ, an Atlanta area company with award winning software, is an on-demand multimedia training company and will be opening a Newport Beach, CA, office to better access West Coast customers, capital and IT resources. The plan for MindIQ is to expand both their program content and customer base.

Bernstein, says, “There is no competitor in the market that has both the flexibility and established presence of our Company.”

MindIQ recently created a computer security training program for Colorado State employees that will be marketed by MindIQ to the other 49 states, 50,000 government agencies and all types of business organizations.

MindIQ will also be preparing audits and registration filings for the SEC with help from Morris to ‘go public’ and grow through continued strategic acquisitions of other profitable private companies, Morris says.

Bridge funding sought
Morris notes he plans to acquire additional Internet training business operations at or near positive cash flow. Sales for the training market were $55 billion in 2006.

“Since we are an Internet on-demand company,” says Morris, “we believe our additional acquisitions can be anywhere in teh country, and especially in the Southeast with MindIQ’s main offices in Norcross.

Morris says the company will seek bridge money from venture funds to carry it through the year and get to the point of going public.

Bernstein founded MindIQ in 1986 and it was one of the Technology Association of Georgia’s Top 40 innovative companies in 2005.

The company lists nine open positions on its Web site, ranging from sales trainee to security consultant.

For more information see: www.morrisbdc.com

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