Quadrant 4 Systems Corp. (fka QFORQ)

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$QFOR Quadrant 4's Education Exchange Chosen by Port Arthur Independent School District

May 04, 2016 08:30:00 (ET)


Quadrant 4's Education Exchange Chosen by Port Arthur Independent School District

Texas District Taking on New Tech to Level Playing Field for its Students

SCHAUMBURG, Ill., May 04, 2016 (GLOBE NEWSWIRE) -- Quadrant 4 Education, a division of Quadrant 4 System Corporation, announces it has been selected by Port Arthur Independent School District (ISD) to deploy EmpowerED Solutions(TM), a new-to-market platform enabling seamless academic assessment and intervention. The platform brings students, families, teachers and administrators together to ensure a student's learning process is meaningful, flexible and complete.

Port Arthur ISD serves the city of Port Arthur, Texas and encompasses over 9,000 students and 1,000 teachers across 15 separate campuses. The student population is 90% African American and/or Hispanic with 77% of students receiving free or reduced lunches. The graduation rate in the Port Arthur ISD is 68%.

Port Arthur ISD is led by Superintendent Dr. Mark Porterie, an experienced educator with over 20 years of success in promoting student achievement through identifying, analyzing and implementing innovative programs and procedures.

Dr. Porterie stated, "We are so excited to begin this venture with EmpowerED Solutions. Our goal as educators is to ensure that every child is successful and we truly believe this will be possible through the EmpowerED Solutions platform. It is a statistical fact that parental involvement makes a difference in a child's academic career and this system will enable us, as district administrators, to create a platform that is both welcoming and seamless to all parties involved. This is a great opportunity for Port Arthur ISD and an even better opportunity for our students."

Quadrant 4 Education's President, Shekhar Iyer, stated, "The EmpowerED education platform has again been chosen by another dynamic district Superintendent, Dr. Mark Porterie, who along with his team was looking for an innovative platform to guide the student body to better learning outcomes. We are excited to see how EmpowerED will enable the community of Port Arthur to take ownership of their students' education and monitor and influence their unique learning paths."

About Port Arthur ISD

Port Arthur ISD serves the city of Port Arthur, Texas, located 90 miles east of Houston and reported a population of 54,000 people in the 2013 census. Explore more at www.paisd.org.

About Quadrant 4 Education

Quadrant 4 Education, a division of Quadrant 4 System Corporation, delivers a suite of connected cloud-based applications that brings students, families, teachers and administrators together to ensure a student's learning process is meaningful, flexible and complete. EmpowerED Solutions(TM) is a central, secure platform that combines and transforms data from multiple databases into highly usable information that supports effective academic assessment and intervention, real-time reporting and decision support. Explore more at http://quadrant4edu.com/.

Quadrant 4 System Corporation (Ticker: QFOR) empowers digital transformation in education and healthcare through robust Software-as-a-Service (SaaS) platforms and highly specialized professional services. Explore more at http://qfor.com.

http://www.qfor.com/news/


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May 2, 2016
8k filing
Software Licensing:

The Company signed an agreement to grant a perpetual license for the source code of its QHIX platform (‘Licensed Software’) to a major software and services firm (‘Licensee’) who will serve as the Company’s channel partner. The Licensee provides health claims processing systems to over 400 health plans/payors and health care providers across the country covering over 150 million members. This agreement provides an exclusivity to the licensee in certain segments of the market, provided the licensee meets certain performance requirements. Under this agreement, the licensee will pay the Company an upfront cash payment of $3.1 million in addition to quarterly royalty payments based on the revenues they generate by deploying the Licensed Software. The Royalty payment agreement calls for the licensee to pay up to $90 million to the Company by sharing revenue generated from sale of Licensed Software. The perpetual license will be considered fully paid when the Company receives from the licensee a total of $90 million in royalties. In addition to the upfront payment and royalty per this agreement, the Company will also receive annual fees for maintenance, support and upgrades; and professional fees for services such as implementation of QHIX and other related services. While upfront payment is guaranteed, the Company may not receive the full stipulated maximum royalty payments from this agreement. Certain market conditions, performance of the Licensee, and that of the Company’s QHIX platform will determine the total royalty payments the Company will receive. This licensing agreement will become effective upon completion of due diligence being currently performed by the Licensee.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11353617