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Updated: 11:57 p.m. Tuesday, Jan. 19, 2010 | Posted: 10:33 p.m. Tuesday, Jan. 19, 2010
By Thomas Gnau
Staff Writer
The future of an ailing Qbase Inc. is at stake as shareholders weigh an offer from investors with ties to the federal government information technology market.
At stake as well may be Qbase’s presence in Beavercreek and Springfield.
According to a proxy statement to Qbase shareholders, a vote on the $5 million offer is scheduled this morning, Jan. 20, at Qbase’s Commons Boulevard offices. The offer comes from Steve Baldwin, former chief executive of Apptis Inc., a Virginia IT firm, and three colleagues.
The proxy also says Qbase — which offers IT services and helps clients organize data — is beyond payment terms to more than 50 of its suppliers, some of whom have threatened legal action.
Qbase CEO Bill Pardue declined to comment Tuesday.
Ohio government has loaned Qbase $2 million in recent years. Springfield’s Turner Foundation gave the company $4 million in its early days.
Baldwin has a track record around the nation’s capital, and the Qbase proxy points to a need to establish a presence in the Washington, D.C., area.
Baldwin declined to comment Tuesday. Pardue and other Qbase leaders would enter into one-year employment agreements with the reorganized company, the proxy says.
Former U.S. Rep. Dave Hobson said he isn’t aware of Qbase’s current dealings. Hobson was neither an investor nor a director, although Pardue has credited Hobson with his decision to base the company in Ohio in 2005.
“Like a lot of companies, they’ve had a hard time in this (economic) climate,” Hobson said. “I think it speaks well of the product that someone is willing to invest in the company.”
Kevin Carver, a Southwestern Ohio representative for the Ohio Department of Development, said if Qbase gets stronger by expanding in other markets, that may be good for the company overall.
“We will be checking this as we do every company” to which the state gives incentives, Carver said.
Keep reading;
QBase to get $5 million investment, reorganize
Contact this reporter at (937) 225-2390 or tgnau@DaytonDaily News.com.
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