IVOC....News:iVoice Forms iVoice Technology, Inc. to Facilitate Transactions
Business Wire - April 28, 2004 08:00
MATAWAN, N.J., Apr 28, 2004 (BUSINESS WIRE) -- iVoice, Inc. (OTCBB:IVOC), a leader in speech recognition technology, announced the formation of iVoice Technology, Inc. iVoice Technology will be used as a vehicle to either acquire other operating companies, or for a potential spin-off of an existing iVoice asset similar to the recent spin-off of Trey Resources (OTCBB:TYRIA), in which case iVoice paid a dividend to its shareholders in the form of Trey Resources common stock. iVoice's current cash reserves of over $7 million will assist in the execution of either strategy.
The newly formed wholly-owned subsidiary, iVoice Technology, Inc., has been formed in the State of Nevada and will be used to facilitate future potential acquisition transactions in accordance with iVoice's stated acquisition strategy, which is designed to acquire acquisition candidates with low industry valuations in combination with weak IPO market. iVoice is in the process of evaluating several potential acquisitions.
Jerry Mahoney, Chief Executive Officer of iVoice, stated, "At the present time, no specific transaction is pending, nor do we have immediate plans for a spin-off. We are, however, currently reviewing various strategic alternatives and are negotiating with several potential candidates about a transaction that would enable iVoice to expand its revenue and asset base. The formation of the new subsidiary provides a vehicle to consummate a transaction, spin-off an asset to our shareholders and/or to facilitate the financing of such a transaction."
iVoice is interested in acquisition candidates that provide excellent growth potential, are in a viable and stable market segment, and employ a current management team committed to the organization's long-term success. Our prospective acquisitions may or may not be in the same industry as iVoice.
About iVoice, Inc.
iVoice, Inc. designs, manufactures and markets innovative voice and computer telephony communications systems for businesses and corporate departments. The Interactive Voice Response (IVR) products developed by iVoice allow information in PC databases to be accessed via voice or from a standard touch-tone telephone. iVoice products are designed to be simple for the end user and provide a cohesive system to access messaging systems.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to iVoice, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
SOURCE: iVoice, Inc.
iVoice, Inc.
Investor Relations
Dolores Serafin-Sloboda, 732-441-7700 and
say "Investor Relations"
investors@ivoice.com
www.ivoice.com
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