ITASCA, ILL.-Equine Data Systems International, Inc. (EDSI) purchased the Equine Data Management Software (EDMS) and all of its related materials.
ITASCA, ILL.—Equine Data Systems International, Inc. (EDSI) purchased the Equine Data Management Software (EDMS) and all of its related materials.
The new proprietor of EDMS hopes to be able to offer support beginning this month with a complete program rewrite and update accomplished in the near future, according to James R. Hume, DVM and president of EDSI.
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The purchase ends a more than year-long ordeal after the late Randy Travnick, then proprietor of EDMS, committed suicide and reportedly embezzled $1.5 million from at least 120 veterinarians, horse breeders and trainers in at least nine states. After the suicide, the state Attorney General granted an injunction prohibiting any further investor actions and froze the estate's assets, including a $1 million life insurance policy taken out in Travnick's name as well as bank accounts.
At the time, Travnick developed and marketed the software systems designed for the horse breeding and boarding industries. While the system was sound, the investment side of Travnick's business has been likened to the illegal "Ponzi scheme" of the 1920s. This scheme, considered an offshoot of the modern-day pyramid scheme, involves recruiting people to invest in something for a guaranteed rate of return and using the money of later investors to pay earlier investor's off.
The latest move by the court allows the purchase of EDMS by EDSI.
Hume reports that EDSI will offer the most current programs for sale to new users as well as the most recent update for those who are using the program now.
Hume says he realizes the difficulties that EDMS users have gone through in the past year, "but is confident that this exceptional software will once again be the preferred program for all aspects of the equine industry." Hume adds in a prepared statement, "EDSI will do everything in its power to provide hands-on service to all current EDMS users."
For more information, contact EDSI at 300 Park Blvd.; Suite 303; Itasca, IL 60143; (630) 250-7777; fax (630) 250-7778.