Oryx Technology Corp. is the successor of Advanced Technology, Inc., which was incorporated on April 21, 1976 in New Jersey. On July 25, 1993, Advanced Technology formed Oryx as a wholly-owned Delaware subsidiary, and on September 29, 1993, Advanced Technology merged with and into Oryx Technology Corp. References to "Oryx," "we," "our" and "us" refer to Oryx Technology Corp. and its consolidated subsidiary.

As of February 28, 2005 we had an accumulated deficit of approximately $28 million. We incurred net losses of approximately $1.2 million for the fiscal year ended February 28, 2005 and $1.0 million for fiscal 2004. We expect to continue to...