iVoice, Inc.(fka IVOI)

[Blackjay]

I think it helps how they have done it in the past !

NEWS-IVOC iVoice, Inc. Announces Intention to Spin Off IVR Software Subsidiary to Shareholders

http://money.iwon.com/jsp/nw/nwdt_ge.jsp?news_id=cmt-251p5501&feed=cmt&date=20040907


MATAWAN, N.J., Sep 7, 2004 /PRNewswire-FirstCall via COMTEX/ -- iVoice, Inc. (OTC Bulletin Board: IVOC), a leader in speech recognition technology, announced today that it intends to distribute to the company's shareholders all common stock shares of its newly formed subsidiary iVoice Technology, Inc. This would be the second common stock subsidiary dividend issued by the company to shareholders when completed.

The iVoice board of directors authorized management to pursue a strategy designed to unlock the value in the company's interactive voice recognition (IVR) software technology by spinning it off into a new independent public company, iVoice Technology. The new company will initially focus on building a new business around the technology.



Subject to final review by the SEC, holders of iVoice common stock will receive shares of iVoice Technology, Inc. common stock on the record date, which has been tentatively set by the iVoice Board of Directors as November 1, 2004. The payment date will be as soon as practicable after the U.S. Securities and Exchange Commission declares the iVoice Technology SB-2 registration statement effective. The ex-dividend date will be established by the NASD pursuant to their authority over the OTC-Bulletin Board. The stock dividend will be detailed in a Form SB-2 to be filed with the SEC in the near future. The spin off transaction is not a reverse split of iVoice stock. iVoice Technology, Inc. plans to list its shares on the OTC Bulletin Board.

Earlier this year, iVoice spun off Trey Resources, which closed on its first acquisition in June 2004 by acquiring an operating company with sales of over $2 million. iVoice has determined that the best way to create shareholder value, separate and apart from the operating performance of iVoice, is to implement spin-offs by distributing shares of these newly formed subsidiaries. The successful Trey Resources spin-off demonstrated that the mechanism works and established further opportunities for both entities.

iVoice Chairman and CEO Jerry Mahoney said, "We are confident that this transaction will provide the two separated companies both the capital structure and the management focus required for long-term growth and success, which will offer compelling value to the market and enhanced opportunities for both companies."

iVoice IVR is the latest version of open interactive voice response tools from iVoice, Inc. IVR applications enable callers to query and modify database information over their telephone using their own human speech or by dialing digits on their telephone. Callers can either verbalize or use their touch- tone pad to make requests, such as ordering a product, obtaining a work schedule, or requesting account balance information. The database speaks information back to the caller using Text-to-Speech. IVR offers customers and businesses a new level of freedom by enabling them to conduct transactions 24 hours a day, seven days a week. Businesses of all sizes are realizing the tremendous benefits of IVR applications for their call processing and

information delivery needs. iVoice IVR represents the next generation of IVR tools, which utilize open development languages and powerful platforms.