Initio, Inc was principally, through its wholly-owned subsidiary, Initio Consulting Corp. (Formerly Deerskin Trading Post, Inc.), a specialty retailer via direct response including e-commerce, catalogs, and media advertising. In April 1999, the Company entered into an agreement with America’s Shopping Mall, Inc. to sell substantially all of the assets of its operating business.
In May 1999, the transaction closed resulting in a pre-tax gain.
Since that time, Initio instituted a search for suitable acquisitions. In connection with this activity, it became apparent to the Company that there were a significant number of small companies at strategic inflection points in need of significant structural, financial, organizational, and marketing assistance. During the fiscal year ended April 30, 2002, Initio decided to offer management and consulting services to small, but established late-stage companies at a significant inflection point.