360Vision Announcement

Bart Snell Heads 360Vision Software, Inc.
360Vision Launches Revolutionary New Version of Flooring Software

Effective September 21, 2018

MFC has grown over the last several years, and undergone significant changes in its mix of customers. We made a significant investment in preparing an exciting new version of the flooring industry software previously known as FloorPro. Along with fifteen other flooring industry companies, we used FloorPro to manage all aspects of our operations. In 2015, we negotiated licensing and development rights to the intellectual property. For the last couple years we developed and extensively tested Floors360℠, and a number of enhancements and improvements have been included in the production version, now available to the market as of 9/24.

Bart Snell has worked alongside me the last four years, and he played a critical role in the company’s progress. With his assistance, we have implemented and documented efficiencies in our business processes that have permitted growth without the matching increases in our back-office support. We have become more effective in collecting receivables, and our average aging of A/R has been reduced.

We planned for Bart to transition into the full-time role of leading the software business, now called 360Vision. He has extensive experience with software-based technology companies, complemented by his business process engineering and enterprise resource planning software implementations. We have been using Floors360℠ progressively across most of our internal departments for the last year as various modules were completed. Floors360℠ replaces FloorPro (the prior version), and FloorPro has been in service for over 20 years with flooring customers in the retail, home construction, commercial, property management, and new construction segments.

Bart has completed his transition from the MFC flooring business, and will focus his time exclusively as the CEO of 360Vision Software, Inc., a stand-alone company dedicated to meeting the enterprise software needs of flooring industry companies. Bart will lead the team to expand the customer base, build strategic partnerships, and as needed raise capital to support the business plan. Bart will remain a Board member of MFC, and he will provide his advice and counsel as needed on strategic and financial issues.

We are excited with the transition of Floors360℠ from the development and beta-testing phase to production and sales. We wish Bart and his 360Vision team the best of luck. We are proud to be the initial investor sponsor of 360Vision, and first customer of the new version.

About MFC
MFC is celebrating its 30th anniversary in 2018, and is a privately-held company operating in the following states along the Atlantic seaboard: Florida, Georgia, North Carolina, Virginia, District of Columbia, Maryland, New Jersey, New York, Connecticut, Rhode Island, Massachusetts, and Maine. The company provides all flooring surface solutions to retail, commercial, new construction multifamily, and property management customers. Headquartered in Chantilly, Virginia, the company has nine locations serving customer in each market, and whenever possible applies technology to reduce defects and reduce costs.

About 360Vision Software, Inc.
360Vision Software is a full-service software company delivering an enterprise resource process (ERP) software solution to floor-covering businesses as a complete workflow management system. Floors360℠ is the flagship product, along with supporting applications. The company offers three choices of the Floors360℠ software product line that are suited for flooring companies in the a() retail, (b) builder and home improvement subcontractor segments, and (c) companies providing property management services, commercial, and new construction flooring solutions. Floors360℠ is also easily adaptable for other contractor segments.