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Time Spot Press Releases

Time Spot and Unitime Systems Enter Into Transaction

SCOTTSDALE, ARIZ., April 13, 2006 ? Time Spot, Inc. and Unitime Systems, Inc., both major providers of automated workforce management solutions, today announced they have completed a transaction whereby Time Spot has divested certain direct sales assets to Unitime Systems. Under the terms of the agreement, Unitime Systems acquired a portion of the Time Spot direct sales maintenance and hosted client base along with specific direct channel sales opportunities and associated intellectual property rights. Financial terms of the transaction were not disclosed.

The transaction affords both organizations the opportunity to focus on those things they do best. Time Spot will continue to build its extensive reseller network and business development channels and will also focus on key enterprise account opportunities and its data collection subsidiary, NetEdge Devices, LLC. Unitime Systems will increase its customer support base and add a proven hosted software solution to its product line. Unitime Systems? business and alliance partner channels are unaffected by the transactions.

?Unitime Systems is a respected competitor in our market. I believe this transaction is advantageous to both parties, and I see opportunity beyond the immediate benefit as the relationship matures,? stated Thomas Bednarik, President and CEO of Time Spot.

Bill Korstad, CEO of Unitime Systems, states, ?Tom and I have been friends as well as friendly competitors for years. We admire what Time Spot has been able to accomplish in the marketplace. This is one of those win-win deals that benefit both companies.?

About Time Spot, Inc.
Time Spot, Inc. (OTCBB: TMAM) has been a leading provider of web-based, client-server and desktop time and labor management solutions since 1988. Time Spot?s family web-based, client-server and desktop solutions deliver a cost-effective, automated means for employee time and attendance tracking, management of labor resources and payroll processing. The Deloitte Technology Fast 500 recognized Time Spot as one of the 500 fastest growing technology companies in North America for 2003 and 2004. For more information, please visit the Time Spot web site at timespothq.com

About Unitime Systems, Inc.
Unitime Systems provides time and attendance software solutions for small to enterprise organizations in nearly every industry. A leading time and attendance software provider for over 12 years, Unitime Systems has helped more than 2,000 organizations in over 7,500 locations enhance the performance of employees, managers, and overall operations. Unitime time and attendance software reduces the amount of time needed to prepare time sheets for payroll, improves workforce management, minimizes errors, and helps track and manage labor expenses.
For more information, please visit the Unitime Systems web site at www.unitime.com.

Certain information and comments contained in this press release may be forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Factors set forth in the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2005, and subsequently filed Form 10-QSBs and Form 8-Ks, together with other factors that appear in this press release or in the Company's other Securities and Exchange Commission filings could affect the Company's actual results and could cause the Company's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of the Company, in this press release.

NETtime is a registered trademark of Time Spot, Inc. All other names are the property of their respective owners.

 

     
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