STERLING BUSINESS SOLUTIONS, INC.

STERLING BUSINESS SOLUTIONS, INC.

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Company Overview
Sterling Business Solutions, Inc., formerly known as Virtual Reality Inc., is an American company that operates as a professional employment organization. It is publicly traded company listed on the Other OTC Market, USA under the ticker symbol STLB. The company was established in October of 1981. The registered head office of the company is located in Long Island City, New York.
Sterling Business Solutions focuses on payroll, workers’ compensation, financing, credit card processing, commercial insurance, and funds administration services. The company owns Technology Innovation Group, Inc., which specializes in the development and manufacture of new technology and systems for aerospace applications in technical disciplines such as electro-optical systems for space flight, helmet-mounted displays, artificial intelligence, holographic optical designs, and engineering and training simulation.
Business Summary
Sterling Business Solutions, Inc., formerly known as Virtual Reality Inc., is a Professional Employer and Finance Organization (PEFO), that provides Payroll Administration, Human Resources Benefits, Financing, Funds Administration, Credit Card Processing and Equipment Leasing. The Company owns Technology Innovation Group Inc., which specializes in the development and manufacturing of new technology and systems for aerospace applications in technical disciplines such as electro-optical systems for space flight, helmet-mounted displays, artificial intelligence, holographic optical designs, and engineering and training simulation. The Company is set to acquire Intellashop.com, which is designed to meet all of the consumer’s shopping needs. By allowing consumers to personalize their shopping preferences, Intellashop provides the tools to source products and product information, check real-time availability, compare price and quality of merchants, and obtain price and availability alerts.
Description and history
Sterling Business Solutions, Inc., formerly known as Virtual Reality Inc., is a Professional Employer and Finance Organization (PEFO), that provides Payroll Administration, Human Resources Benefits, Financing, Funds Administration, Credit Card Processing and Equipment Leasing. The Company was originally organized on October 9, 1981 under the name Stepro Inc. On December 31, 1991, the Company acquired Technology Innovation Group Inc. (TIG), which was then specializing in the development and manufacturing of new technology and systems for aerospace applications in technical disciplines such as electro-optical systems for space flight, helmet-mounted displays, artificial intelligence, holographic optical designs and engineering and training simulation. Through its TIG subsidiary, the Company was able to create and manufacture unique virtual display systems for advanced aerospace applications such as electro-optical systems for space flight, helmet-mounted displays, holographic optical designs, artificial intelligence and training simulation. Purchasers included the Air Force, Naval Ocean Systems Command, Martin-Marietta, United Technologies, Northrop and CAE.

Confronted with older technology, an expired patent and the unavailability of adequate financing, in 1999, the Company began exploring opportunities to utilize its management’s contacts and relationships, as well as its goodwill in connection with high technology, in order to enter into the world of Internet technology. As a result, in February 2000, the Company reached an agreement, in principle, with Zorro Systems Inc. (Zorro Systems), a leader in developing sophisticated real-time search technologies, for the acquisition of a 100% interest in its subsidiary, Intellashop.com (the Acquisition). As a result, on February 23, 2000, the Company and Zorro Systems executed a Letter of Intent contemplating, in part, that the Company issues 200,000, 000 shares of its common stock to Zorro Systems, for the acquisition of Intellashop.com. The Acquisition is subject to the satisfactory due diligence of both the Company and Zorro, the successful amendment of the Company’s Articles of Incorporation in order to increase the amount of shares authorized to be issued by the Company, as well as the successful negotiations and execution of a definitive agreement.

Intellashop is a personal shopping agent that will meet all of the consumer’s shopping needs. By allowing consumers to personalize their shopping preferences, Intellashop provides the tools to source products and product information, check real-time availability, compare price and quality of merchants, and obtain price and availability alerts. Intellashop is designed to provide three primary services to consumers. Product Locator services allow consumers to identify products of interest by using keywords or selected category criteria. Order Optimization services organize and group products based on client criteria such as lowest price, quickest delivery or merchant service rating. Order Placement services allow consumers to add product selections to a “shopping cart” and be guided through a “checkout” process that standardizes and simplifies the interface to the numerous vendors available.

Initial product offerings through Intellashop are purposefully limited in order to provide for high quality managed growth of the business. Startup offerings include books, movies, DVDs and music. New product categories will be added monthly based on market demand and vendor reliability. Intellashop.com intends to eventually service books, music/video/movies, computer software, computer hardware/peripherals, consumer electronics, toys/collectibles, flowers/gifts, travel services, home and garden tools and supplies, office supplies, entertainment/sports ticketing, clothing/apparel, fitness/sports equipment, family/health/beauty, gourmet foods/groceries, and hobby and leisure.

Dedicated to helping consumers, Intellashop will aim to source and provide timely information and an evaluation and comparison of products and merchants available on the Internet. Intellashop’s evaluation is based on important consumer-specific criteria such as price, delivery time frame and quality of the merchant’s service. In essence, Intellashop.com will offer consumers a singularly dedicated, unbiased one-stop, user-friendly shopping service with their best interest in mind, while facilitating instantaneous, easy, current and reliable comparisons of prices, products and vendors from around the world.

The Company shall compete directly for e-commerce merchants, shoppers, advertisers and other affiliates with numerous Internet and non-Internet businesses. These include providers of e-commerce and online direct marketing services, such as Go2Net, Xoom and DoubleClick; providers of e-commerce outsourcing services such as Digital River, US Web and CyberSource; providers of Web directories and search and information services, all of whom offer online shopping, including America Online, Microsoft, Yahoo!, Excite, Lycos and Infoseek; online shopping destination Websites, such as iMall and Shopping.com; Internet service providers, Web development firms and systems integrators, as well as companies offering products that address specific aspects of e-commerce.

Formerly known as Virtual Reality Inc

Business Line
Operates as a professional employment organization
Subsidiary

Advisor
LAZAR- LEVINE & CO.
IPO date

US SIC Code
6799
Company Address
25-21, 49th Street

City province or state postal code
11103, LONG ISLAND CITY, NY
Phone: +1 718 956 7350
Fax: +1 718 728 4431
Country address: UNITED STATES OF AMERICA
Website url: