15/09/2006 - FinRep Newsletter Volume 1 Issue 1

Our first newsletter is finished and out. Titled FinRep News and Dated September 2006 Volume 1 Issue 1. This is another channel for us to better keep you informed of all the changes and updates that happen within our company and letting you see of all new ways that we can better serve your needs.

We will make every attempt possible to continue issuing our Newsletter on a quarterly basis and we hope that you will keep finding its content useful as you did for this first version.

If you have not received a copy of our Newsletter and you would like to receive one please do not hesitate to contact us either by phone or email and we will make every possible arrangement to add you to our email list.

29/03/2006 - COREP and FINREP

As we had correctly identified a few months ago the next big project coming out from the CBoC would deal with XBRL and would be related to Base II. In a circular issued by CBoC on the 27th of March 2006 relevant banks were notified of the COREP (Common Solvency Ration Reporting Framework) project and the original instructions were given about deadlines and relevant material.

During the next morning we joined the COREP group and started our reading, analysis and design working towards the development of a COREP solution to assist our clients meet the requirements of the new directive and simplify all the technical issues that could be created by XBRL.

In the back of our minds there always exists the idea that whatever solution gets designed should also be able to be extended easily to include the FINREP (Financial Reporting for Credit Institutions that use IAS/IFRS for their published financial statements) project requirements as well as it is obvious that this will be the next project under this same XBRL / Basel II set of directives.

02/02/2006 - We have Doubled in Numbers

Today is a very important date because after two years of operations we have managed to achieve steady growth and increase our operations so as to double in size. Our company today employees 8 professionals eager to meet our client's needs and provide the best possible services and solutions to them.

We acknowledge that none of this would have been possible without your support and trust and we would like to express our thanks for allowing us to serve you and grow with you.

21/12/2005 - And Now XBRL

Although anyone serious enough can easily see that there will be a lot of work to be carried out during the next months as additional changes and updates to the MBSR (Monthly Balance Sheet Return) project we have also identified that the next big project down the horizon will need to be handled as well and the only way to make it on time is to start early. This new project will have to do with the Basel II and will entail XBRL.

XBRL is an exciting new technology claiming to revolutionalize business reporting. At Prognosys we have been following the evolution of XBRL very closely and we are delighted that we are finally going to be given the opportunity to start a real life project on this new technology altough we are certain it will not be easy.

With this (XBRL) the only known fact at this point in time we will start our learning and development and await for something more specific in order to direct our development efforts.