First Amended Disclosure Statement Approved for Prologic Management Systems Inc.

Prologic Management Systems, Inc. was engaged in providing systems integration services, technology products and related services. The Company and its former wholly owned subsidiary, BASIS, Inc., were subject to foreclosure action in February 2004. As a result of the foreclosure, Prologic Management Systems, Inc. ceased to have any operating business or sources of revenue. As of March 31, 2006, the Company had no operations and no sources of revenue.