³We are hoping to announce the details before Christmas,² Mr Sharp said.
Trading in Computronics on the Australian Stock Exchange was suspended two weeks ago when the company announced it had gone into voluntary receiver-ship.
Mr Sharp said software faults with its new Farmlap 2 system, combined with a depressed market and a $2 million debtors list, had led to cashflow problems.
³Our decision effectively protects creditors, our staff and shareholders,² he said.
³We have a strong equity position and with our proposed new partnership our plans will be accelerated to develop a global platform product.
³At the same time we will meet supply commitments in Australia for the 2007 season and will retain our key staff members.
³We realise farmers and man-ufacturers are on tenterhooks because of our situation but I want to assure the industry that we have resolved the software issues and we have product successfully operating in the field. ³Our decision to go into voluntary receivership gives us the ability to complete supply for the 2007.²
Mr Sharp said new partnership negotiations included Computronics remaining in Perth to manufacture product and continue with research and development because the company was highly regarded for its technology.
Apart from application control technology, research already was being planned for real time farming which allowed a farmer to view machines in operation on his farm from a computer anywhere in the world.
³Our aim is to remain the number one player in the agricultural electronics industry,² Mr Sharp said.
He expected Computronics to trade its way out of difficulties within two months, depending on advice from the receivership.