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ORGANIZATION AND BUSINESS:
9 Months Ended
Jun. 30, 2011
ORGANIZATION AND BUSINESS:  
ORGANIZATION AND BUSINESS:

(1)      ORGANIZATION AND BUSINESS:

 

TeamStaff, Inc. and its subsidiaries (“TeamStaff” or the “Company”, also referred to as “we,” “us” and “our”), provide a range of logistics, healthcare support and technical services to the United States Department of Veterans Affairs (“DVA”), the United States Department of Defense (“DoD”) and other US governmental entities. TeamStaff’s primary operations are conducted through its subsidiary TeamStaff Government Solutions, Inc. (“TeamStaff GS”), located in Loganville, Georgia and its principal executive office is located at 1776 Peachtree Street, NW, Atlanta, Georgia 30309, where its telephone number is (866) 952-1647.

 

Company History

 

TeamStaff is a New Jersey corporation that was founded in 1969.  Today, TeamStaff is a national provider and prime contractor of logistics, healthcare delivery and other technical services to Federal Agencies, including the DVA and the DoD with over 800 employees performing in over 20 states throughout the country.  In early 2010, the Company took important steps toward enhancing the value of TeamStaff by completing the divestiture of its commercial staffing business (TeamStaff Rx) and fully focusing its efforts on the government services market. The closing of this transaction occurred on January 4, 2010. As discussed in Note 3 to these consolidated financial statements, where additional information about this transaction is provided, the results of operations, cash flows and related assets and liabilities of TeamStaff Rx have been reclassified in the accompanying consolidated financial statements as a discontinued operation.  In connection with the refocusing of its operations, the Company completed a national search and appointed Zachary Parker as its President and Chief Executive Officer.  Mr. Parker has subsequently transitioned the Company’s executive and senior management team as well as its corporate infrastructure to better position the Company as a government services provider.

 

At present, TeamStaff GS, is the Company’s only operating subsidiary.  TeamStaff’s other wholly-owned subsidiaries include DSI Staff ConnXions Northeast, Inc., DSI Staff ConnXions Southwest, Inc., TeamStaff Solutions, Inc., TeamStaff I, Inc., TeamStaff II, Inc., TeamStaff III, Inc., TeamStaff IV, Inc., TeamStaff VIII, Inc., TeamStaff IX, Inc., TeamStaff Rx, Inc., Digital Insurance Services, Inc., HR2, Inc. and BrightLane.com, Inc. As a result of the sale of our Professional Employer Organization (“PEO”) business in fiscal year 2004 and other Company business changes, these “other” subsidiaries are inactive.