Business History

1990

1991

1992

1993

The Saudi sale is promised but does not generate cash until September of 1993. In the

meantimethe Saudi consulting operation is transferred to Abdulla Fouad Corporation, the

Saudi Agent. Landmark stock comes back up to $20 per share and the bank loan is payed

off. Roice's ownership goes from 50% to 80%. The Saudi sale allows all other debts to be

paid. The Landmark Consultant Network is born and HMC goes to its second SEG. An

interrum contract is signed to support the Global Basins Research Network (GBRN).

The hypermedia software goes into a cocoon, and Roice Nelson starts negotiations

to transfer title to Walden 3-D, Inc. This is complete in September of 1990. The day

after, Roice and Bill Rollwitz have breakfast at the Denny's at I-10 and Highway 6,

and start working on a business plan.

The software product is immature, there is not enough capital to compete as a products

company, and anticipated sales do not materialize. A single license is sold to Exxon

Production Research. Landmark stock goes from $26 per share to $8 per share and

the line-of-credit is way under capitalized. The company is cut back to 10 employees

and then back to 2 employees by mid-summer. The consulting contract with Saudi

Aramco is used to attempt to sell a software site license.

Hypermedia eXchange Corporation is formed on the day the United States bombs

Iraq, 16January 1991. Bill Rollwitz starts working full-time for HXC and leaves

Price-Waterhouse. John Mouton and Alex Massad invest and join the Board of

Directors. A technology trading contract is signed with NASA and work is started

to support the AUTOLIB. Attempts to raise Venture Capital Money are not successful.

About $350,000 dollars are invested by indivuals and Roice Nelson guarantees a line

of credit with founders shares of Landmark Graphics stock. The company has a good

show at the SEG, grows to 17 employees and gets the first contract for software and

services with Saudi Aramco.