American Independence Corp. (AIC), formerly SoftNet Systems, Inc., was previously a holding company principally engaged in providing Internet services. The Company discontinued the businesses of ISP Channel, Inc., Intelligent Communications, Inc. and Aerzone Corporation, including Laptop Lane Limited. As of September 30, 2002, the wind down of ISP Channel, Intellicom and Aerzone, including Laptop Lane, were substantially complete. Upon the closing of the transactions contemplated by AICs agreement, dated July 30, 2002, to acquire Independence American Holdings Corporation (IAHC) from SSH Corp. and Independence Holding Company (IHC), AIC will become an insurance holding company.