Millennium Master loses backer
Summary Description The financial backer of Y2K bug-fixing firm MFX Research has resigned from its board.
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Roullas Top10 Simon Vandore

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Editorial InformationArticle Location
Article Topic Y2K
Story Order 1
Story Group 980607
Post Date 05/06/98 11:50 AM Status Posted Entered by Angus Kidman on 05/06/1998 11:50 AM


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Content
Introduction
The financial backer of Y2K bug-fixing firm MFX Research, investment banker John Mitchell of JMT Mitchell & Co, has resigned from its board and the company has left his Sydney offices.

Body
Though JMT Mitchell & Co could not provide a forwarding address or phone number, within the last few hours new contact details appeared on MFX's Web site. The firm is now housed in the Martin Place offices of Ferrier Hodgson, Chartered Accountants. Ferrier Hodgson boss Ian Ferrier is now chairperson of MFX.
MFX's general manager for sales and marketing, Damien Maree, said his company had "an interesting story to tell" , but would not comment further.
MFX Research was reportedly backed to the tune of $5 million by JMT Mitchell & Co for its flagship product, Millennium Master. The software won top honours in the Annual Business Software Awards run by the Nine Network's Small Business Show, and was said to fix year 2000 problems across all levels of IT -- from PCs to mainframes -- by scanning and altering program code.
Received with some scepticism by industry experts, Millennium Master failed to meet its March 1998 retail shipping date. Although a "server version" is advertised for sale on MFX Research's Web site, a review copy could not be provided to APC.


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