This is why-->>ActiveCore Forecasts Significant Revenue for the Four Quarters Ended June 30, 2008 Press Release Source: ActiveCore Technologies, Inc.
ActiveCore Forecasts Significant Revenue for the Four Quarters Ended June 30, 2008 Thursday August 2, 10:35 am ET
TORONTO, Aug. 2 /PRNewswire-FirstCall/ -- ActiveCore Technologies, Inc. (OTC: ATVE - News), a Company that operates as a payment technology solution provider with online, wireless and POS payment solutions, would like to quantify the projected revenue from the recently announced transactions and issue a statement over forthcoming announcements and bring clarity to the focus of the Company's product, sales and marketing strategy for the foreseeable future. As previously announced ActiveCore has signed transactions with a number of UK entities over the past several weeks and is in the process of implementing a project delivery strategy, which includes the securing of funding required to support the business and projects necessary for a successful rollout. The first three implementations will be:
-- Young Masters Golf -- Business Scene Portal -- Prompt Payer Register
ActiveCore has also been very active in the Ontario K-12 School market where it recently completed a successful one year pilot of the CyBux School Cash Card System at Etobicoke Collegiate Institute. The Company is in negotiations to extend this considerably further into the Ontario school system and expects to close a number of sizeable deals with school boards prior to the commencement of the new school year in September of 2007. This major expansion of the CyBux schools program will significantly extend the reach of the CyBux product and establish ActiveCore in a market with massive opportunities for growth.
Following is the planned Revenue and associated EBITDA from the above transactions and projected School Board business for the cumulative quarters ending June 30, 2008:
Projected Projected Entity Name Revenue EBITDA
Young Masters Golf $600,000 $221,000 Business Scene Portal $866,250 $319,650 Prompt Payer Register $630,000 $232,470 School Boards $5,271,000 $1,945,240
Note: the average EBITDA across all the above deals is 36.9% The announcements and REVENUE/EBITDA figures listed above confirm the growing trend of consumers favoring pre paid debit card solutions over both credit cards and cash and further prove that the CyBux product is ideally placed to succeed in this rapidly growing market.
Mr. Hamilton, CEO of ActiveCore, stated, "Due to the excellent opportunities that have been generated with the CyBux Cash Card product, ActiveCore has decided to reassess its overall product and go to market strategy and after careful consideration and consultation with UK legal counsel, has decided to abandon the ePocket product set and the associated sales and marketing efforts. This decision was necessary in light of the large debt associated with the purchase of the ePocket subsidiary created by Tower Group's failure to provide the promised funding which was then compounded by recent changes to UK tax laws." Mr. Hamilton went on to say that, "Although the demise of ePocket is disappointing, it has allowed the Company to move forward more rapidly and focus solely on the sale of the CyBux product, resulting in the multiple successes listed above. Additionally, the removal of the ePocket division and associated debt has enabled the Company to approach alternative investors to secure funding and we are currently in final negotiations to secure sufficient funds to support the rollout of the CyBux products to the above listed as well as other organizations."
ActiveCore Technologies, Inc. now operates as a payment technology solution provider. Our two core products ActiveLink and ActiveCast combine to provide an integration and messaging platform for our payment technology solutions. This platform enables quick implementation of our payment solutions and a built in marking solution to enhance customer retention and communication. The CRATOS division of ActiveCore acts as the implementation arm for the company's payment solutions.
CyBux has created an integrated online payment system across Canada involving most of the major banks and credit unions. This network encompasses thousands of financial institutions and provides a highly secure account-based payment system for use on the Internet. Consumers do not have to give up any credit information in order to accomplish a payment and can set-up an account and begin using the system with simply providing an email account. The system is low cost, making it ideal for micro-payments and a replacement for existing online payment methods and subscription systems. The Company is now aggressively expanding CyBux to include the UK and USA banking systems.
Investor Relations Contacts: Peter Hamilton 416-252-6200 ext. 312
Brooke Marion 416-252-6200 ext. 308
info@activecore.com
Statements contained in this news release regarding ActiveCore Technologies, Inc. (formerly IVP Technology) and planned events are forward- looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive, or regulatory conditions. These and other applicable risks are summarized under the caption 'Risk Factors' in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 4, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above.
-------------------------------------------------------------------------------- Source: ActiveCore Technologies, Inc.
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