The Company therefore had no revenues from operations nor conducted any operating activities from October, 1990 until consummating the Merger. Effective January 1, 2002, the Company, as the surviving corporation in the Merger, succeeded to the business of V-GPO Delaware, which was a supply chain management consulting and B-2-B commerce corporation servicing the healthcare industry. V-GPO Delaware was incorporated in May 2000 and was the successor as a result of a reincorporation merger with IHI Associates, Inc., a Florida corporation, which commenced operations in November 1997.

In April, 2002, the Company organized a wholly-owned subsidiary, International Healthcare...