Tuesday, June 22, 2010 7:45:14 AM
Yup..
don't forget to read it all....
Here's an article potential shareholder's should read:
How to make $4.8 million one penny at a time
iVoice's CEO is selling billions of shares, turning stock to cash, but posting no profit
Sunday, August 21, 2005
BY GREG SAITZ
Star-Ledger Staff
By every measure, Bill Gates and his company, Microsoft, dwarfs Jerome Mahoney and his business, iVoice.
Microsoft, the software behemoth, had revenue approaching $37 billion last year. Sales at Matawan-based iVoice, which makes voice recognition software, did not break $360,000. Gates' company pulled in more than $8.1 billion in profit; Mahoney's lost $2.9 million.
But there's one area in which Mahoney far surpasses Gates and hundreds of other top executives at major public companies -- the amount of company stock he's sold.
Since 2003, according to regulatory filings, Mahoney has disposed of more than 2.5 billion shares of iVoice.
Welcome to the world of pinny stock trading on the over-the-counter bulletin board.
It's a place where hundreds of millions of shares are traded each day -- often for just fractions of a penny -- where legitimate businesses mingle with fraudulent operators, and where detailed information about companies can be hard to find.
It's also a place where unwitting investors have been scammed out of millions of dollars by swindlers promoting dreams of quick and easy profits. New Jersey's Robert Brennan, now serving a nine-year prison term, is one of the most notorious penny stock criminals.
No one has accused Mahoney or iVoice of any wrongdoing. But their case opens a window into a murky realm where public companies can have little or no income and yet make a few investors millions of dollars, where the fundamental laws of business and economics are turned on their head.
"You don't buy a penny stock for the same reason you buy your local utility," said Gregory Miller, an associate accounting professor at Harvard Business School. "The people on the other end are looking for a big payoff."
Mahoney, 45, has run iVoice since May 1999, when his private company, International Voice Technologies, merged with a publicly traded firm, Visual Telephone International. The resulting company eventually became known as iVoice.
The deal gave Mahoney 10 million shares of Class A stock and 1 million shares of Class B stock, each of which can be converted into thousands of shares of Class A stock.
A month later, Mahoney, a Colts Neck resident, predicted in a New Jersey business publication: "This will be a very profitable year."
It wasn't. And it never has been. iVoice has lost millions of dollars every year since 1999. Between then and 2004, the company has lost $19.4 million, regulatory filings show.
For years, iVoice's auditors have looked at the company's financial statements and concluded there was substantial doubt about its ability to continue operating as a viable business. The reasons are myriad: not enough cash on hand, negative working capital and a failure to generate enough revenue to cover costs.
Without actual cash to pay vendors, consultants and others for services, iVoice has turned its stock into currency. The practice is used frequently by companies, often small, bulletin-board stocks, that have limited cash flow.
Mahoney and a company attorney explained stock sales by noting Mahoney loaned iVoice significant sums of money by selling personal stock and putting the proceeds into the company. Regulatory filings show iVoice owed Mahoney about $2 million in September 2002, although it appears about half of that was for unpaid salary, income taxes, interest and other compensation.
"I didn't take a salary for five years to keep the company going," Mahoney said during a brief interview. "I could count on one finger the number of people who did what I did."
He is entitled to $705,000 in annual salary from iVoice and related companies. Lawrence Muenz, an attorney for iVoice, said Mahoney took only about 60 percent of the salary he was entitled to between 1999 and 2004. His stock sales in the past two and a half years have netted nearly $4.8 million.
iVoice has partially repaid the loans from Mahoney not in cash, but in more shares of stock. As of earlier this year, he essentially owned the rights to more than 37.8 billion shares. (Gates owns a little more than 1 billion shares of Microsoft.) The sale of some of Mahoney's iVoice stock has been an effort to recoup the loans and unpaid compensation, Mahoney said.
"He's just maintaining his own liquidity," Muenz said.
When Mahoney and iVoice needed to pay a bill, they generally issued shares of stock. The company has given Cornell Capital Partners, a hedge fund in Jersey City, billions of shares in exchange for millions of dollars in loans.
When iVoice needed more stock to hand out, it just increased the number of shares available. In 2000, there were about 101 million shares of common stock issued; last month the number stood at nearly 10 billion.
(The discrepancy between the number of outstanding shares and shares Mahoney technically owns -- 37.8 billion -- has to do with his rights to convert Class B shares into common stock.)
The result has been a continued dilution of iVoice's stock and its price. Since early 2000, when the price peaked at $5.94, the share price has plummeted to its current levels measured in hundredths of a penny. It closed Friday at six-thousandsth of a penny .
Mahoney has been selling shares during much of that time. Filings made with the Securities and Exchange Commission documenting his transactions only cover the period from March 2003 forward.
That year, he sold 623 million shares for $2.7 million. In 2004, Mahoney sold 1.3 billion shares for $1.7 million and so far this year, during trades almost exclusively in March, he sold nearly 606 million shares for $242,000.
In addition, Mahoney has been selling shares of Trey Resources, a one-time subsidiary of iVoice that was spun off to become its own public company last year. Since November 2004, Mahoney has sold 5.4 million shares for $157,639.
"People know he's in the market. It's not like it's a secret," attorney Muenz said of Mahoney's sales. "They know he has a ton of stock. They know he has shares he's received from these loans."
Mahoney, who is paid $180,000 to act as Trey's chairman, and Trey Chief Executive Mark Meller had nearly identical stock sales in 2004 and so far this year. Muenz said the two trade in tandem, but that their broker is the one who decides when to sell and how many shares.
Often, their trades accounted for large portions of the overall volume traded on a particular day. On some days, the combined number of shares Mahoney and Meller indicated they had sold exceeded the total volume. Muenz could not explain the discrepancy.
Regulatory filings indicate Trey has assumed a $250,000 debt from iVoice that is due to Mahoney. Filings also note both executives have deferred payment of their salaries, other compensation and a $350,000 bonus for the successful spinoff, but may take shares of stock as payment. Mahoney earns $270,000 a year from iVoice, holding the titles of chairman, CEO, president and chief financial officer.
"It's very common for executives increasingly compensated with stock to sell off and turn their stock into dollars," said Darren Roulstone, an associate accounting professor at the University of Chicago's Graduate School of Business who has studied trading of company insiders.
But who's buying is anybody's guess, said Brian Bushee, an accounting professor at the University of Pennsylvania's Wharton School.
"It's still the case with most large institutional investors, they're going to stay away from the market altogether," said Bushee, who has studied the over-the-counter marketplace. "It always has mystified me who trades in this market."
The buyers of iVoice may not be clear, but the stock always is changing hands by the cratefull. The company frequently is among the most heavily traded stocks on the OTC bulletin board, with tens of millions of shares in play. On occasion, more than 1 billion shares have traded in a single day.
Both Mahoney and Muenz said they didn't know why so many shares of iVoice are bought and sold each day.
It's unclear whether volume will decrease once trading commences on three new companies, which are subsidiaries iVoice created last year and recently spun off into publicly traded entities. iVoice investors received shares of the three companies -- iVoice Technology, Deep Field Technologies and SpeechSwitch.
Mahoney acts as non-executive chairman for the new firms and receives a base salary of $85,000 from each. Muenz said the purpose of the spinoffs, which will acquire certain business assets from iVoice, was "to maximize shareholder value." The changes leave iVoice with no remaining businesses.
Those companies, meanwhile, also will take on certain liabilities -namely $190,000 of indebtedness to Mahoney. He will have the right to convert that into at least 190,000 Class B shares of each company.
The Class B shares, in turn, are convertible into an unknown amount of Class A common shares. "There is no limitation on the number of shares of Class A common stock we may be required to issue to Mr. Mahoney," company filings state.
Stock, of course, which he can then sell on the open market.
Greg Saitz may be reached at gsaitz@starledger.com or (973) 392-7946.
******************************************************************
Now here's some information you're REALLY going to want to read if you're thinking of buying here.
Nov 27, 2007 MAHONEY JEROME R
Officer direct Sell 0.0018 2,947,922
Nov 23, 2007 MAHONEY JEROME R
Officer direct Sell 0.0022 1,224,995
Nov 21, 2007 MAHONEY JEROME R
Officer direct Sell 0.0020 to 0.0172 5,040,000
Nov 20, 2007 MAHONEY JEROME R
Officer direct Sell 0.0018 2,257,500
Nov 16, 2007 MAHONEY JEROME R
Officer direct Sell 0.0020 3,358,200
Nov 15, 2007 MAHONEY JEROME R
Officer direct Sell 0.0027 575,683
Oct 30, 2007 MAHONEY JEROME R
Officer direct Sell 0.0018 330,000
Oct 26, 2007 MAHONEY JEROME R
Officer direct Sell 0.0017 5,262,700
May 22, 2007 MAHONEY JEROME R
Officer direct Sell 0.0090 1,131,441
Apr 30, 2007 MAHONEY JEROME R
Officer direct Sell 0.0105 443,400
Apr 18, 2007 MAHONEY JEROME R
Officer direct Sell 0.0160 439,239
Page data updated on 22 April 2007.
Individuals (Insiders) Holding
View By: All transactions Buys Sells Options Exercises Planned Sales
Transaction Date Name Transaction Num. of Shares Price Proceeds
11 January 2007 Mahoney Jerome R Sell 9,709,000 0.0175 to 0.04 $223,709
17 November 2006 Mahoney Jerome R Exercise 4,746,970 0.006 to 0.012 $38,964
14 August 2006 Mahoney Jerome R Sell 2,015,979 0.06 to 0.0951 $154,047
17 May 2006 Mahoney Jerome R Exercise 2,081,680 0.01 to 0.01 $20,817
1 April 2005 Mahoney Jerome R Sell 605,999,200 0.0004 to 0.0004 $242,400
28 October 2004 Mahoney Jerome R Sell 181,000,000 0.0006 to 0.0008 $125,450
19 October 2004 Mahoney Jerome R Sell 524,200,000 0.0006 to 0.0009 $400,940
20 September 2004 Mahoney Jerome R Sell 435,500,000 0.0009 to 0.0022 $506,000
30 March 2004 Mahoney Jerome R Sell 49,963,000 0.0028 to 0.0031 $145,096
19 March 2004 Mahoney Jerome R Sell 117,300,000 0.003 to 0.0044 $434,180
30 December 2003 Mahoney Jerome R Sell 21,800,000 0.0026 to 0.0035 $66,690
25 September 2003 Mahoney Jerome R Sell 276,282,000 0.0054 to 0.0144 $2,759,784
3 September 2003 Mahoney Jerome R Sell 325,264,020 0.0003 to 0.0031 $356,629
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Trade Currencies as of 5’000 USD $7 Trades
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insider selling. Date range 8-24-06 to 1-11-07
IVOI -- iVoice, Inc.
Class A Com ($0.0001)(New)
FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2008
Estimated average burden
hours per response... 0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
MAHONEY JEROME R 2. Issuer Name and Ticker or Trading Symbol
IVOICE, INC /NJ [ IVOC ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director __ X __ 10% Owner
__ X __ Officer (give title below) _____ Other (specify below)
President, Secretary and CEO
(Last) (First) (Middle)
C/O IVOICE, INC., 750 HIGHWAY 34 3. Date of Earliest Transaction (MM/DD/YYYY)
8/24/2006
(Street)
MATAWAN, NJ 07747
(City) (State) (Zip)
Common Stock, no par value per share 8/24/2006 A 1746965 A $.012 219421998 D
Common Stock, no par value per share 11/3/2006 S 500000 D $.04 218921998 D
Common Stock, no par value per share 11/17/2006 A 3000000 D $.006 218921998 D
Common Stock, no par value per share 11/20/2006 S 755000 D $.0255 218166998 D
Common Stock, no par value per share 11/20/2006 S 755000 D $.026 217411998 D
Common Stock, no par value per share 11/20/2006 S 755000 D $.0261 216656998 D
Common Stock, no par value per share 11/27/2006 S 244000 D $.03 216412998 D
Common Stock, no par value per share 12/6/2006 S 3000000 D $.0209 213412998 D
Common Stock, no par value per share 12/19/2006 S 863892 D $.02 212549106 D
Common Stock, no par value per share 12/22/2006 S 1059600 D $.02 211489506 D
Common Stock, no par value per share 12/26/2006 S 576508 D $.02 210912998 D
Common Stock, no par value per share 12/29/2006 S 366990 D $.021 210546008 D
Common Stock, no par value per share 1/9/2007 S 209400 D $.0193 210336608 D
Common Stock, no par value per share 1/11/2007 S 623610 D $.0175 209712998 D
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2008
Estimated average burden
hours per response 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*MAHONEY JEROME R
------------------------------------------------------------------
(Last) (First) (Middle)
C/O IVOICE, INC., 750 HIGHWAY 34
-------------------------------------------------------------------
(Street)MATAWAN NJ 07747
-------------------------------------------------------------------
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
IVOICE, INC /DE [IVOC] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)X Director X 10% Owner
X Officer (give title below) Other (specify below)
President, Secretary and CEO
3. Date of Earliest Transaction (Month/Day/Year)
05/17/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, no par value per share 05/17/2006 A 2,081,679 A $ 0.01 144,180,224 D
Common Stock, no par value per share 05/31/2006 S 51,500 D $ 0.0951 144,128,724 D
Common Stock, no par value per share 06/05/2006 S 7,300 D $ 0.099 144,055,724 D
Common Stock, no par value per share 06/09/2006 S 50,000 D $ 0.09 144,005,724 D
Common Stock, no par value per share 06/13/2006 S 23,000 D $ 0.09 143,982,724 D
Common Stock, no par value per share 06/15/2006 S 157,000 D $ 0.0777 143,825,724 D
Common Stock, no par value per share 06/20/2006 S 55,000 D $ 0.0781 143,770,724 D
Common Stock, no par value per share 06/27/2006 S 60,000 D $ 0.0763 143,710,724 D
Common Stock, no par value per share 06/28/2006 S 50,000 D $ 0.065 143,660,724 D
Common Stock, no par value per share 06/30/2006 S 50,000 D $ 0.064 143,610,724 D
Common Stock, no par value per share 07/10/2006 S 46,000 D $ 0.06 143,564,724 D
Common Stock, no par value per share 07/11/2006 S 350,000 D $ 0.0719 143,214,724 D
Common Stock, no par value per share 07/12/2006 S 140,000 D $ 0.0816 143,074,724 D
Common Stock, no par value per share 07/14/2006 S 300,000 D $ 0.0799 142,774,724 D
Common Stock, no par value per share 07/19/2006 S 90,000 D $ 0.078 142,684,724 D
Common Stock, no par value per share 07/20/2006 S 50,000 D $ 0.078 142,634,724 D
Common Stock, no par value per share 07/26/2006 S 187,000 D $ 0.0739 142,447,724 D
Common Stock, no par value per share 08/14/2006 S 349,179 D $ 0.086 142,098,545 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date
(Month/Day/Year) 7. Title and Amount of Underlying Securities
(Instr. 3 and 4) 8. Price of Derivative Security
(Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock $ 0.01 05/17/2006 C 20,817 05/17/2006 (1) Class A Common Stock 2,081,679 $ 0 1,644,310 D
Explanation of Responses:
1. No expiration date.
/s/ Jerome R. Mahoney 09/20/2006
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
Copyright © 2006 QuoteMedia. All rights reserved. Terms of Use.
Market Data powered by QuoteMedia, www.quotemedia.com, SEC filings by 10kWizard.
=================================================================
INSIDER & RULE 144 TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Type Transaction Value*
26-Sep-05 MAHONEY, JEROME R.
Chief Executive Officer 16,474,628 Direct Sale at $0.0004 per share. $6,589
14-Sep-05 MAHONEY, JEROME R.
Chief Executive Officer 12,744,000 Direct Sale at $0.0004 per share. $5,097
2-Sep-05 MAHONEY, JEROME R.
Chief Executive Officer 3,162,858 Direct Sale at $0.0005 per share. $1,581
26-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 15,000,000 Direct Sale at $0.0005 per share. $7,500
24-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 21,204,500 Direct Sale at $0.0005 per share. $10,602
22-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 21,054,015 Direct Sale at $0.0006 per share. $12,632
15-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0006 per share. $2,999
12-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0006 per share. $2,999
11-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0005 per share. $5,000
10-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 360,000 Direct Sale at $0.0006 per share. $215
7-Jul-05 MAHONEY, JEROME R.
Chief Executive Officer 110,000,000 Direct Acquisition (Non Open Market) at $0.0001 per share. $11,000
1-Apr-05 MAHONEY, JEROME R.
Chief Executive Officer 76,904,230 Direct Sale at $0.0004 per share. $30,761
31-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0004 per share. $20,000
30-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0004 per share. $20,000
29-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 40,052,000 Direct Sale at $0.0004 per share. $16,020
28-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0004 per share. $20,000
24-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 2,210,000 Direct Sale at $0.0004 per share. $884
23-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 22,050,000 Direct Sale at $0.0004 per share. $8,820
22-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 83,963,000 Direct Sale at $0.0004 per share. $33,585
21-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 20,719,970 Direct Sale at $0.0004 per share. $8,287
18-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0004 per share. $16,000
17-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 25,000,000 Direct Sale at $0.0004 per share. $10,000
16-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 39,100,000 Direct Sale at $0.0004 per share. $15,640
15-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0004 per share. $20,000
14-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 14,000,000 Direct Sale at $0.0004 per share. $5,600
11-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 42,000,000 Direct Sale at $0.0004 per share. $16,800
1-Feb-05 MAHONEY, JEROME R.
Chief Executive Officer 606,000,000 Direct Planned Sale $300,0001
28-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 23,000,000 Direct Sale at $0.0007 per share. $16,100
26-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0006 - $0.0007 per share. $33,0002
25-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0006 - $0.0007 per share. $6,5002
22-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 17,500,000 Direct Sale at $0.0006 per share. $10,499
21-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 75,500,000 Direct Sale at $0.0007 - $0.0008 per share. $57,0002
20-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0007 per share. $3,500
19-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 9,000,000 Direct Sale at $0.0007 per share. $6,300
18-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 33,000,000 Direct Sale at $0.0007 per share. $23,100
15-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 1,700,000 Direct Sale at $0.0007 per share. $1,190
14-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 19,500,000 Direct Sale at $0.0006 - $0.0007 per share. $13,0002
13-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 18,500,000 Direct Sale at $0.0007 per share. $12,950
12-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 12,000,000 Direct Sale at $0.0007 per share. $8,400
11-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 55,000,000 Direct Sale at $0.0007 per share. $38,500
8-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 52,000,000 Direct Sale at $0.0007 per share. $36,400
7-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 35,000,000 Direct Sale at $0.0007 per share. $24,500
6-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 20,000,000 Direct Sale at $0.0007 per share. $14,000
5-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 15,000,000 Direct Sale at $0.0007 - $0.0008 per share. $11,0002
4-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0008 per share. $4,000
30-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0008 per share. $32,000
29-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 30,000,000 Direct Sale at $0.0008 per share. $24,000
28-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 36,000,000 Direct Sale at $0.0008 - $0.0009 per share. $31,0002
24-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 22,500,000 Direct Sale at $0.0009 per share. $20,250
23-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0008 - $0.0009 per share. $34,0002
22-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.009 per share. $90,000
21-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0009 per share. $36,000
20-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 3,000,000 Direct Sale at $0.0009 per share. $2,700
20-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 30,000,000 Direct Sale at $0.0008 per share. $24,000
17-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 7,500,000 Direct Sale at $0.0009 per share. $6,750
16-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0009 per share. $36,000
15-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 39,000,000 Direct Sale at $0.0009 - $0.001 per share. $37,0002
15-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 290,000,000 Direct Planned Sale $600,0001
14-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 27,000,000 Direct Sale at $0.0009 per share. $24,300
14-Sep-04 STONE STREET ADVISORS
50,000,000 Direct Planned Sale $50,0001
13-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 20,000,000 Direct Sale at $0.0009 per share. $18,000
21-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Private Sale at $0.0011 per share. $5,500
21-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 63,000,000 Direct Sale at $0.001 per share. $63,000
17-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.001 per share. $50,000
16-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Private Sale at $0.0011 per share. $5,500
15-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Private Sale at $0.0011 per share. $5,500
10-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 2,000,000 Direct Private Sale at $0.0012 per share. $2,400
9-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 2,000,000 Direct Private Sale at $0.0013 per share. $2,600
8-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 70,000,000 Direct Sale at $0.0012 - $0.0013 per share. $87,0002
4-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 16,000,000 Direct Sale at $0.0012 - $0.0013 per share. $20,0002
3-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 14,000,000 Direct Private Sale at $0.0012 per share. $16,800
2-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 3,000,000 Direct Sale at $0.0014 per share. $4,200
25-May-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0015 per share. $7,500
20-May-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0017 per share. $8,500
19-May-04 MAHONEY, JEROME R.
Chief Executive Officer 5,500,000 Direct Private Sale at $0.0017 per share. $9,350
17-May-04 MAHONEY, JEROME R.
Chief Executive Officer 7,500,000 Direct Private Sale at $0.0016 - $0.0019 per share. $13,0002
14-May-04 MAHONEY, JEROME R.
Chief Executive Officer 20,000,000 Direct Private Sale at $0.0019 per share. $38,000
14-May-04 MAHONEY, JEROME R.
Chief Executive Officer 20,000,000 Direct Sale at $0.0021 - $0.0022 per share. $43,0002
30-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 18,963,000 Direct Sale at $0.0028 per share. $53,096
30-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 18,963,000 Direct Private Sale at $0.0028 per share. $53,096
29-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 7,000,000 Direct Sale at $0.0028 per share. $19,600
26-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0029 per share. $14,499
24-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 9,000,000 Direct Sale at $0.0031 per share. $27,900
23-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0029 - $0.0031 per share. $30,0002
19-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 3,000,000 Direct Sale at $0.0032 per share. $9,600
18-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 8,200,000 Direct Sale at $0.0031 - $0.0032 per share. $26,0002
17-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 5,500,000 Direct Sale at $0.003 - $0.0031 per share. $17,0002
15-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 3,500,000 Direct Sale at $0.0034 per share. $11,900
12-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 2,500,000 Direct Sale at $0.0035 per share. $8,750
11-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 10,500,000 Direct Sale at $0.0034 - $0.0035 per share. $36,0002
10-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 6,000,000 Direct Sale at $0.0035 per share. $21,000
9-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 9,000,000 Direct Sale at $0.0036 - $0.0037 per share. $33,0002
8-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 1,000,000 Direct Sale at $0.0036 per share. $3,600
4-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 2,500,000 Direct Sale at $0.0038 per share. $9,500
3-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0036 - $0.0038 per share. $37,0002
2-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 6,500,000 Direct Sale at $0.0037 - $0.0038 per share. $24,0002
23-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0036 per share. $36,000
20-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 3,000,000 Direct Sale at $0.0039 per share. $11,700
19-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.004 per share. $20,000
18-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 14,000,000 Direct Sale at $0.004 per share. $56,000
17-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0043 per share. $21,500
13-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 12,100,000 Direct Sale at $0.0042 - $0.0044 per share. $52,0002
Data provided by EDGAR Online
* = Where indicated, some values are estimates.
1 = Potential proceeds estimated by the filer.
2 = Estimated based on the average of multiple prices reported.
3 = Multiple dates reported. Most recent date shown.
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• Today's SEC Filings • Mergers & Acquisitions
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A little research on the above dates shows that a large percentage of this selling onslaught occured immediately after bspr's were released, most of which had to do with so called "free" shares. Oh yeah, the guy doing the selling is also the one releasing the bspr's. Check the July 7 2005 purchase of 110,000,000 shares (at 25% of the pps at the time) which IMMEDIATELY preceded the free share bspr including deep field, and speechswitch. And then add it up.............tada, 110,000,000 sold IMMEDIATELY afterward.
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And here's another tidbit of information for potential shareholders. ivoi releases spinoff pr's as their own (especially bspr's from trey). The spinoffs have ZERO effect on ivoi.
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Here's a little taste of 6th grade wordplay from ivoi.
Form 10QSB for IVOICE, INC /NJ
15-May-2007
Quarterly Report
PLAN OF OPERATION.
To date, we have incurred substantial losses and do not produce enough cash from operations to cover our operating cash requirements. We raise our necessary working capital from financing transactions that include the issuance of common stock or instruments that are convertible into common stock, which have a dilutive effect on current shareholders.
=============================================================
SB2- OK, NOW JUST TAKE A MOMENT AND THINK ABOUT WHAT THESE TWO PARAGRAPHS SAY. THE TOP PARAGRAPH STATES ,BASICALLY, IS THAT THE COMPANY CAN'T MAKE MONEY AND THE PPS IS GOING TO GO DOWN BECAUSE THEY HAVE TO BORROW MONEY. IN THE VERY NEXT PARAGRAPH, THEY STATE THEIR "STRATEGY" FOR YOU IS TO HAVE YOU BUY IVOI (WHICH THEY ALREADY ACKNOWLEDGE WILL GO DOWN) SO YOU CAN ACQUIRE "FREE" SPINOFF SHARES. OK, NOW WHO HERE WANTS TO BUY STOCKS THAT WILL DECREASE IN VALUE TO ACQUIRE OTHER STOCKS? WOULDN'T THE LOSS I SUSTAIN BUYING AND HOLDING IVOI STOCK = "BUYING" THE "FREE" SPINOFF STOCKS??????????
==============================================================
We have determined that the best way to create shareholder value, separate and apart from our operating performance, is by spinning off and distributing shares of our wholly owned subsidiaries in the form of a special dividend to our shareholders. The common stock distributions are part of a broader strategy relating to our transition into a company focused on the development and licensing of proprietary technologies. We will also continue to search for potential merger candidates with or without compatible technology and products, in a further attempt to increase shareholder value. See the discussions below regarding our ongoing activities
don't forget to read it all....
Here's an article potential shareholder's should read:
How to make $4.8 million one penny at a time
iVoice's CEO is selling billions of shares, turning stock to cash, but posting no profit
Sunday, August 21, 2005
BY GREG SAITZ
Star-Ledger Staff
By every measure, Bill Gates and his company, Microsoft, dwarfs Jerome Mahoney and his business, iVoice.
Microsoft, the software behemoth, had revenue approaching $37 billion last year. Sales at Matawan-based iVoice, which makes voice recognition software, did not break $360,000. Gates' company pulled in more than $8.1 billion in profit; Mahoney's lost $2.9 million.
But there's one area in which Mahoney far surpasses Gates and hundreds of other top executives at major public companies -- the amount of company stock he's sold.
Since 2003, according to regulatory filings, Mahoney has disposed of more than 2.5 billion shares of iVoice.
Welcome to the world of pinny stock trading on the over-the-counter bulletin board.
It's a place where hundreds of millions of shares are traded each day -- often for just fractions of a penny -- where legitimate businesses mingle with fraudulent operators, and where detailed information about companies can be hard to find.
It's also a place where unwitting investors have been scammed out of millions of dollars by swindlers promoting dreams of quick and easy profits. New Jersey's Robert Brennan, now serving a nine-year prison term, is one of the most notorious penny stock criminals.
No one has accused Mahoney or iVoice of any wrongdoing. But their case opens a window into a murky realm where public companies can have little or no income and yet make a few investors millions of dollars, where the fundamental laws of business and economics are turned on their head.
"You don't buy a penny stock for the same reason you buy your local utility," said Gregory Miller, an associate accounting professor at Harvard Business School. "The people on the other end are looking for a big payoff."
Mahoney, 45, has run iVoice since May 1999, when his private company, International Voice Technologies, merged with a publicly traded firm, Visual Telephone International. The resulting company eventually became known as iVoice.
The deal gave Mahoney 10 million shares of Class A stock and 1 million shares of Class B stock, each of which can be converted into thousands of shares of Class A stock.
A month later, Mahoney, a Colts Neck resident, predicted in a New Jersey business publication: "This will be a very profitable year."
It wasn't. And it never has been. iVoice has lost millions of dollars every year since 1999. Between then and 2004, the company has lost $19.4 million, regulatory filings show.
For years, iVoice's auditors have looked at the company's financial statements and concluded there was substantial doubt about its ability to continue operating as a viable business. The reasons are myriad: not enough cash on hand, negative working capital and a failure to generate enough revenue to cover costs.
Without actual cash to pay vendors, consultants and others for services, iVoice has turned its stock into currency. The practice is used frequently by companies, often small, bulletin-board stocks, that have limited cash flow.
Mahoney and a company attorney explained stock sales by noting Mahoney loaned iVoice significant sums of money by selling personal stock and putting the proceeds into the company. Regulatory filings show iVoice owed Mahoney about $2 million in September 2002, although it appears about half of that was for unpaid salary, income taxes, interest and other compensation.
"I didn't take a salary for five years to keep the company going," Mahoney said during a brief interview. "I could count on one finger the number of people who did what I did."
He is entitled to $705,000 in annual salary from iVoice and related companies. Lawrence Muenz, an attorney for iVoice, said Mahoney took only about 60 percent of the salary he was entitled to between 1999 and 2004. His stock sales in the past two and a half years have netted nearly $4.8 million.
iVoice has partially repaid the loans from Mahoney not in cash, but in more shares of stock. As of earlier this year, he essentially owned the rights to more than 37.8 billion shares. (Gates owns a little more than 1 billion shares of Microsoft.) The sale of some of Mahoney's iVoice stock has been an effort to recoup the loans and unpaid compensation, Mahoney said.
"He's just maintaining his own liquidity," Muenz said.
When Mahoney and iVoice needed to pay a bill, they generally issued shares of stock. The company has given Cornell Capital Partners, a hedge fund in Jersey City, billions of shares in exchange for millions of dollars in loans.
When iVoice needed more stock to hand out, it just increased the number of shares available. In 2000, there were about 101 million shares of common stock issued; last month the number stood at nearly 10 billion.
(The discrepancy between the number of outstanding shares and shares Mahoney technically owns -- 37.8 billion -- has to do with his rights to convert Class B shares into common stock.)
The result has been a continued dilution of iVoice's stock and its price. Since early 2000, when the price peaked at $5.94, the share price has plummeted to its current levels measured in hundredths of a penny. It closed Friday at six-thousandsth of a penny .
Mahoney has been selling shares during much of that time. Filings made with the Securities and Exchange Commission documenting his transactions only cover the period from March 2003 forward.
That year, he sold 623 million shares for $2.7 million. In 2004, Mahoney sold 1.3 billion shares for $1.7 million and so far this year, during trades almost exclusively in March, he sold nearly 606 million shares for $242,000.
In addition, Mahoney has been selling shares of Trey Resources, a one-time subsidiary of iVoice that was spun off to become its own public company last year. Since November 2004, Mahoney has sold 5.4 million shares for $157,639.
"People know he's in the market. It's not like it's a secret," attorney Muenz said of Mahoney's sales. "They know he has a ton of stock. They know he has shares he's received from these loans."
Mahoney, who is paid $180,000 to act as Trey's chairman, and Trey Chief Executive Mark Meller had nearly identical stock sales in 2004 and so far this year. Muenz said the two trade in tandem, but that their broker is the one who decides when to sell and how many shares.
Often, their trades accounted for large portions of the overall volume traded on a particular day. On some days, the combined number of shares Mahoney and Meller indicated they had sold exceeded the total volume. Muenz could not explain the discrepancy.
Regulatory filings indicate Trey has assumed a $250,000 debt from iVoice that is due to Mahoney. Filings also note both executives have deferred payment of their salaries, other compensation and a $350,000 bonus for the successful spinoff, but may take shares of stock as payment. Mahoney earns $270,000 a year from iVoice, holding the titles of chairman, CEO, president and chief financial officer.
"It's very common for executives increasingly compensated with stock to sell off and turn their stock into dollars," said Darren Roulstone, an associate accounting professor at the University of Chicago's Graduate School of Business who has studied trading of company insiders.
But who's buying is anybody's guess, said Brian Bushee, an accounting professor at the University of Pennsylvania's Wharton School.
"It's still the case with most large institutional investors, they're going to stay away from the market altogether," said Bushee, who has studied the over-the-counter marketplace. "It always has mystified me who trades in this market."
The buyers of iVoice may not be clear, but the stock always is changing hands by the cratefull. The company frequently is among the most heavily traded stocks on the OTC bulletin board, with tens of millions of shares in play. On occasion, more than 1 billion shares have traded in a single day.
Both Mahoney and Muenz said they didn't know why so many shares of iVoice are bought and sold each day.
It's unclear whether volume will decrease once trading commences on three new companies, which are subsidiaries iVoice created last year and recently spun off into publicly traded entities. iVoice investors received shares of the three companies -- iVoice Technology, Deep Field Technologies and SpeechSwitch.
Mahoney acts as non-executive chairman for the new firms and receives a base salary of $85,000 from each. Muenz said the purpose of the spinoffs, which will acquire certain business assets from iVoice, was "to maximize shareholder value." The changes leave iVoice with no remaining businesses.
Those companies, meanwhile, also will take on certain liabilities -namely $190,000 of indebtedness to Mahoney. He will have the right to convert that into at least 190,000 Class B shares of each company.
The Class B shares, in turn, are convertible into an unknown amount of Class A common shares. "There is no limitation on the number of shares of Class A common stock we may be required to issue to Mr. Mahoney," company filings state.
Stock, of course, which he can then sell on the open market.
Greg Saitz may be reached at gsaitz@starledger.com or (973) 392-7946.
******************************************************************
Now here's some information you're REALLY going to want to read if you're thinking of buying here.
Nov 27, 2007 MAHONEY JEROME R
Officer direct Sell 0.0018 2,947,922
Nov 23, 2007 MAHONEY JEROME R
Officer direct Sell 0.0022 1,224,995
Nov 21, 2007 MAHONEY JEROME R
Officer direct Sell 0.0020 to 0.0172 5,040,000
Nov 20, 2007 MAHONEY JEROME R
Officer direct Sell 0.0018 2,257,500
Nov 16, 2007 MAHONEY JEROME R
Officer direct Sell 0.0020 3,358,200
Nov 15, 2007 MAHONEY JEROME R
Officer direct Sell 0.0027 575,683
Oct 30, 2007 MAHONEY JEROME R
Officer direct Sell 0.0018 330,000
Oct 26, 2007 MAHONEY JEROME R
Officer direct Sell 0.0017 5,262,700
May 22, 2007 MAHONEY JEROME R
Officer direct Sell 0.0090 1,131,441
Apr 30, 2007 MAHONEY JEROME R
Officer direct Sell 0.0105 443,400
Apr 18, 2007 MAHONEY JEROME R
Officer direct Sell 0.0160 439,239
Page data updated on 22 April 2007.
Individuals (Insiders) Holding
View By: All transactions Buys Sells Options Exercises Planned Sales
Transaction Date Name Transaction Num. of Shares Price Proceeds
11 January 2007 Mahoney Jerome R Sell 9,709,000 0.0175 to 0.04 $223,709
17 November 2006 Mahoney Jerome R Exercise 4,746,970 0.006 to 0.012 $38,964
14 August 2006 Mahoney Jerome R Sell 2,015,979 0.06 to 0.0951 $154,047
17 May 2006 Mahoney Jerome R Exercise 2,081,680 0.01 to 0.01 $20,817
1 April 2005 Mahoney Jerome R Sell 605,999,200 0.0004 to 0.0004 $242,400
28 October 2004 Mahoney Jerome R Sell 181,000,000 0.0006 to 0.0008 $125,450
19 October 2004 Mahoney Jerome R Sell 524,200,000 0.0006 to 0.0009 $400,940
20 September 2004 Mahoney Jerome R Sell 435,500,000 0.0009 to 0.0022 $506,000
30 March 2004 Mahoney Jerome R Sell 49,963,000 0.0028 to 0.0031 $145,096
19 March 2004 Mahoney Jerome R Sell 117,300,000 0.003 to 0.0044 $434,180
30 December 2003 Mahoney Jerome R Sell 21,800,000 0.0026 to 0.0035 $66,690
25 September 2003 Mahoney Jerome R Sell 276,282,000 0.0054 to 0.0144 $2,759,784
3 September 2003 Mahoney Jerome R Sell 325,264,020 0.0003 to 0.0031 $356,629
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insider selling. Date range 8-24-06 to 1-11-07
IVOI -- iVoice, Inc.
Class A Com ($0.0001)(New)
FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2008
Estimated average burden
hours per response... 0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
MAHONEY JEROME R 2. Issuer Name and Ticker or Trading Symbol
IVOICE, INC /NJ [ IVOC ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director __ X __ 10% Owner
__ X __ Officer (give title below) _____ Other (specify below)
President, Secretary and CEO
(Last) (First) (Middle)
C/O IVOICE, INC., 750 HIGHWAY 34 3. Date of Earliest Transaction (MM/DD/YYYY)
8/24/2006
(Street)
MATAWAN, NJ 07747
(City) (State) (Zip)
Common Stock, no par value per share 8/24/2006 A 1746965 A $.012 219421998 D
Common Stock, no par value per share 11/3/2006 S 500000 D $.04 218921998 D
Common Stock, no par value per share 11/17/2006 A 3000000 D $.006 218921998 D
Common Stock, no par value per share 11/20/2006 S 755000 D $.0255 218166998 D
Common Stock, no par value per share 11/20/2006 S 755000 D $.026 217411998 D
Common Stock, no par value per share 11/20/2006 S 755000 D $.0261 216656998 D
Common Stock, no par value per share 11/27/2006 S 244000 D $.03 216412998 D
Common Stock, no par value per share 12/6/2006 S 3000000 D $.0209 213412998 D
Common Stock, no par value per share 12/19/2006 S 863892 D $.02 212549106 D
Common Stock, no par value per share 12/22/2006 S 1059600 D $.02 211489506 D
Common Stock, no par value per share 12/26/2006 S 576508 D $.02 210912998 D
Common Stock, no par value per share 12/29/2006 S 366990 D $.021 210546008 D
Common Stock, no par value per share 1/9/2007 S 209400 D $.0193 210336608 D
Common Stock, no par value per share 1/11/2007 S 623610 D $.0175 209712998 D
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2008
Estimated average burden
hours per response 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*MAHONEY JEROME R
------------------------------------------------------------------
(Last) (First) (Middle)
C/O IVOICE, INC., 750 HIGHWAY 34
-------------------------------------------------------------------
(Street)MATAWAN NJ 07747
-------------------------------------------------------------------
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
IVOICE, INC /DE [IVOC] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)X Director X 10% Owner
X Officer (give title below) Other (specify below)
President, Secretary and CEO
3. Date of Earliest Transaction (Month/Day/Year)
05/17/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, no par value per share 05/17/2006 A 2,081,679 A $ 0.01 144,180,224 D
Common Stock, no par value per share 05/31/2006 S 51,500 D $ 0.0951 144,128,724 D
Common Stock, no par value per share 06/05/2006 S 7,300 D $ 0.099 144,055,724 D
Common Stock, no par value per share 06/09/2006 S 50,000 D $ 0.09 144,005,724 D
Common Stock, no par value per share 06/13/2006 S 23,000 D $ 0.09 143,982,724 D
Common Stock, no par value per share 06/15/2006 S 157,000 D $ 0.0777 143,825,724 D
Common Stock, no par value per share 06/20/2006 S 55,000 D $ 0.0781 143,770,724 D
Common Stock, no par value per share 06/27/2006 S 60,000 D $ 0.0763 143,710,724 D
Common Stock, no par value per share 06/28/2006 S 50,000 D $ 0.065 143,660,724 D
Common Stock, no par value per share 06/30/2006 S 50,000 D $ 0.064 143,610,724 D
Common Stock, no par value per share 07/10/2006 S 46,000 D $ 0.06 143,564,724 D
Common Stock, no par value per share 07/11/2006 S 350,000 D $ 0.0719 143,214,724 D
Common Stock, no par value per share 07/12/2006 S 140,000 D $ 0.0816 143,074,724 D
Common Stock, no par value per share 07/14/2006 S 300,000 D $ 0.0799 142,774,724 D
Common Stock, no par value per share 07/19/2006 S 90,000 D $ 0.078 142,684,724 D
Common Stock, no par value per share 07/20/2006 S 50,000 D $ 0.078 142,634,724 D
Common Stock, no par value per share 07/26/2006 S 187,000 D $ 0.0739 142,447,724 D
Common Stock, no par value per share 08/14/2006 S 349,179 D $ 0.086 142,098,545 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date
(Month/Day/Year) 7. Title and Amount of Underlying Securities
(Instr. 3 and 4) 8. Price of Derivative Security
(Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock $ 0.01 05/17/2006 C 20,817 05/17/2006 (1) Class A Common Stock 2,081,679 $ 0 1,644,310 D
Explanation of Responses:
1. No expiration date.
/s/ Jerome R. Mahoney 09/20/2006
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
Copyright © 2006 QuoteMedia. All rights reserved. Terms of Use.
Market Data powered by QuoteMedia, www.quotemedia.com, SEC filings by 10kWizard.
=================================================================
INSIDER & RULE 144 TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Type Transaction Value*
26-Sep-05 MAHONEY, JEROME R.
Chief Executive Officer 16,474,628 Direct Sale at $0.0004 per share. $6,589
14-Sep-05 MAHONEY, JEROME R.
Chief Executive Officer 12,744,000 Direct Sale at $0.0004 per share. $5,097
2-Sep-05 MAHONEY, JEROME R.
Chief Executive Officer 3,162,858 Direct Sale at $0.0005 per share. $1,581
26-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 15,000,000 Direct Sale at $0.0005 per share. $7,500
24-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 21,204,500 Direct Sale at $0.0005 per share. $10,602
22-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 21,054,015 Direct Sale at $0.0006 per share. $12,632
15-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0006 per share. $2,999
12-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0006 per share. $2,999
11-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0005 per share. $5,000
10-Aug-05 MAHONEY, JEROME R.
Chief Executive Officer 360,000 Direct Sale at $0.0006 per share. $215
7-Jul-05 MAHONEY, JEROME R.
Chief Executive Officer 110,000,000 Direct Acquisition (Non Open Market) at $0.0001 per share. $11,000
1-Apr-05 MAHONEY, JEROME R.
Chief Executive Officer 76,904,230 Direct Sale at $0.0004 per share. $30,761
31-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0004 per share. $20,000
30-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0004 per share. $20,000
29-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 40,052,000 Direct Sale at $0.0004 per share. $16,020
28-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0004 per share. $20,000
24-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 2,210,000 Direct Sale at $0.0004 per share. $884
23-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 22,050,000 Direct Sale at $0.0004 per share. $8,820
22-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 83,963,000 Direct Sale at $0.0004 per share. $33,585
21-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 20,719,970 Direct Sale at $0.0004 per share. $8,287
18-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0004 per share. $16,000
17-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 25,000,000 Direct Sale at $0.0004 per share. $10,000
16-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 39,100,000 Direct Sale at $0.0004 per share. $15,640
15-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0004 per share. $20,000
14-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 14,000,000 Direct Sale at $0.0004 per share. $5,600
11-Mar-05 MAHONEY, JEROME R.
Chief Executive Officer 42,000,000 Direct Sale at $0.0004 per share. $16,800
1-Feb-05 MAHONEY, JEROME R.
Chief Executive Officer 606,000,000 Direct Planned Sale $300,0001
28-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 23,000,000 Direct Sale at $0.0007 per share. $16,100
26-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.0006 - $0.0007 per share. $33,0002
25-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0006 - $0.0007 per share. $6,5002
22-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 17,500,000 Direct Sale at $0.0006 per share. $10,499
21-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 75,500,000 Direct Sale at $0.0007 - $0.0008 per share. $57,0002
20-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0007 per share. $3,500
19-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 9,000,000 Direct Sale at $0.0007 per share. $6,300
18-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 33,000,000 Direct Sale at $0.0007 per share. $23,100
15-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 1,700,000 Direct Sale at $0.0007 per share. $1,190
14-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 19,500,000 Direct Sale at $0.0006 - $0.0007 per share. $13,0002
13-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 18,500,000 Direct Sale at $0.0007 per share. $12,950
12-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 12,000,000 Direct Sale at $0.0007 per share. $8,400
11-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 55,000,000 Direct Sale at $0.0007 per share. $38,500
8-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 52,000,000 Direct Sale at $0.0007 per share. $36,400
7-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 35,000,000 Direct Sale at $0.0007 per share. $24,500
6-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 20,000,000 Direct Sale at $0.0007 per share. $14,000
5-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 15,000,000 Direct Sale at $0.0007 - $0.0008 per share. $11,0002
4-Oct-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0008 per share. $4,000
30-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0008 per share. $32,000
29-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 30,000,000 Direct Sale at $0.0008 per share. $24,000
28-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 36,000,000 Direct Sale at $0.0008 - $0.0009 per share. $31,0002
24-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 22,500,000 Direct Sale at $0.0009 per share. $20,250
23-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0008 - $0.0009 per share. $34,0002
22-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.009 per share. $90,000
21-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0009 per share. $36,000
20-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 3,000,000 Direct Sale at $0.0009 per share. $2,700
20-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 30,000,000 Direct Sale at $0.0008 per share. $24,000
17-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 7,500,000 Direct Sale at $0.0009 per share. $6,750
16-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 40,000,000 Direct Sale at $0.0009 per share. $36,000
15-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 39,000,000 Direct Sale at $0.0009 - $0.001 per share. $37,0002
15-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 290,000,000 Direct Planned Sale $600,0001
14-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 27,000,000 Direct Sale at $0.0009 per share. $24,300
14-Sep-04 STONE STREET ADVISORS
50,000,000 Direct Planned Sale $50,0001
13-Sep-04 MAHONEY, JEROME R.
Chief Executive Officer 20,000,000 Direct Sale at $0.0009 per share. $18,000
21-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Private Sale at $0.0011 per share. $5,500
21-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 63,000,000 Direct Sale at $0.001 per share. $63,000
17-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 50,000,000 Direct Sale at $0.001 per share. $50,000
16-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Private Sale at $0.0011 per share. $5,500
15-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Private Sale at $0.0011 per share. $5,500
10-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 2,000,000 Direct Private Sale at $0.0012 per share. $2,400
9-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 2,000,000 Direct Private Sale at $0.0013 per share. $2,600
8-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 70,000,000 Direct Sale at $0.0012 - $0.0013 per share. $87,0002
4-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 16,000,000 Direct Sale at $0.0012 - $0.0013 per share. $20,0002
3-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 14,000,000 Direct Private Sale at $0.0012 per share. $16,800
2-Jun-04 MAHONEY, JEROME R.
Chief Executive Officer 3,000,000 Direct Sale at $0.0014 per share. $4,200
25-May-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0015 per share. $7,500
20-May-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0017 per share. $8,500
19-May-04 MAHONEY, JEROME R.
Chief Executive Officer 5,500,000 Direct Private Sale at $0.0017 per share. $9,350
17-May-04 MAHONEY, JEROME R.
Chief Executive Officer 7,500,000 Direct Private Sale at $0.0016 - $0.0019 per share. $13,0002
14-May-04 MAHONEY, JEROME R.
Chief Executive Officer 20,000,000 Direct Private Sale at $0.0019 per share. $38,000
14-May-04 MAHONEY, JEROME R.
Chief Executive Officer 20,000,000 Direct Sale at $0.0021 - $0.0022 per share. $43,0002
30-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 18,963,000 Direct Sale at $0.0028 per share. $53,096
30-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 18,963,000 Direct Private Sale at $0.0028 per share. $53,096
29-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 7,000,000 Direct Sale at $0.0028 per share. $19,600
26-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0029 per share. $14,499
24-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 9,000,000 Direct Sale at $0.0031 per share. $27,900
23-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0029 - $0.0031 per share. $30,0002
19-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 3,000,000 Direct Sale at $0.0032 per share. $9,600
18-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 8,200,000 Direct Sale at $0.0031 - $0.0032 per share. $26,0002
17-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 5,500,000 Direct Sale at $0.003 - $0.0031 per share. $17,0002
15-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 3,500,000 Direct Sale at $0.0034 per share. $11,900
12-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 2,500,000 Direct Sale at $0.0035 per share. $8,750
11-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 10,500,000 Direct Sale at $0.0034 - $0.0035 per share. $36,0002
10-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 6,000,000 Direct Sale at $0.0035 per share. $21,000
9-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 9,000,000 Direct Sale at $0.0036 - $0.0037 per share. $33,0002
8-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 1,000,000 Direct Sale at $0.0036 per share. $3,600
4-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 2,500,000 Direct Sale at $0.0038 per share. $9,500
3-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0036 - $0.0038 per share. $37,0002
2-Mar-04 MAHONEY, JEROME R.
Chief Executive Officer 6,500,000 Direct Sale at $0.0037 - $0.0038 per share. $24,0002
23-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 10,000,000 Direct Sale at $0.0036 per share. $36,000
20-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 3,000,000 Direct Sale at $0.0039 per share. $11,700
19-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.004 per share. $20,000
18-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 14,000,000 Direct Sale at $0.004 per share. $56,000
17-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 5,000,000 Direct Sale at $0.0043 per share. $21,500
13-Feb-04 MAHONEY, JEROME R.
Chief Executive Officer 12,100,000 Direct Sale at $0.0042 - $0.0044 per share. $52,0002
Data provided by EDGAR Online
* = Where indicated, some values are estimates.
1 = Potential proceeds estimated by the filer.
2 = Estimated based on the average of multiple prices reported.
3 = Multiple dates reported. Most recent date shown.
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A little research on the above dates shows that a large percentage of this selling onslaught occured immediately after bspr's were released, most of which had to do with so called "free" shares. Oh yeah, the guy doing the selling is also the one releasing the bspr's. Check the July 7 2005 purchase of 110,000,000 shares (at 25% of the pps at the time) which IMMEDIATELY preceded the free share bspr including deep field, and speechswitch. And then add it up.............tada, 110,000,000 sold IMMEDIATELY afterward.
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And here's another tidbit of information for potential shareholders. ivoi releases spinoff pr's as their own (especially bspr's from trey). The spinoffs have ZERO effect on ivoi.
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Here's a little taste of 6th grade wordplay from ivoi.
Form 10QSB for IVOICE, INC /NJ
15-May-2007
Quarterly Report
PLAN OF OPERATION.
To date, we have incurred substantial losses and do not produce enough cash from operations to cover our operating cash requirements. We raise our necessary working capital from financing transactions that include the issuance of common stock or instruments that are convertible into common stock, which have a dilutive effect on current shareholders.
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SB2- OK, NOW JUST TAKE A MOMENT AND THINK ABOUT WHAT THESE TWO PARAGRAPHS SAY. THE TOP PARAGRAPH STATES ,BASICALLY, IS THAT THE COMPANY CAN'T MAKE MONEY AND THE PPS IS GOING TO GO DOWN BECAUSE THEY HAVE TO BORROW MONEY. IN THE VERY NEXT PARAGRAPH, THEY STATE THEIR "STRATEGY" FOR YOU IS TO HAVE YOU BUY IVOI (WHICH THEY ALREADY ACKNOWLEDGE WILL GO DOWN) SO YOU CAN ACQUIRE "FREE" SPINOFF SHARES. OK, NOW WHO HERE WANTS TO BUY STOCKS THAT WILL DECREASE IN VALUE TO ACQUIRE OTHER STOCKS? WOULDN'T THE LOSS I SUSTAIN BUYING AND HOLDING IVOI STOCK = "BUYING" THE "FREE" SPINOFF STOCKS??????????
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We have determined that the best way to create shareholder value, separate and apart from our operating performance, is by spinning off and distributing shares of our wholly owned subsidiaries in the form of a special dividend to our shareholders. The common stock distributions are part of a broader strategy relating to our transition into a company focused on the development and licensing of proprietary technologies. We will also continue to search for potential merger candidates with or without compatible technology and products, in a further attempt to increase shareholder value. See the discussions below regarding our ongoing activities
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