PTSC closed at 0.149 is a bullish start. Chart is looking very good, with the possibility that 8K be released today or tomorrow in regard to revenue sharing on patents with TPL, it could give a nice boost to the next leg. Can you see the recent chart mirrors its past before the big jump to 0.29 in early Feb? I can see it, I hope it's coming:
ICDT- GSHF NEWS Both of these closed + 50%,So becareful..
Incode Announces Reduction of Debt PR Newswire - June 14, 2005 08:01
MOUNT ARLINGTON, N.J., June 14, 2005 /PRNewswire-FirstCall via COMTEX/ -- Incode Technologies Corporation (the "Company") (OTC Bulletin Board: ICDT) today announced that it has reduced its debt by $400,000 through its receipt of a favourable investment from GreenShift Corporation (OTC Bulletin Board: GSHF), a business development company that owns a 70% stake in the Company.
GreenShift had loaned the Company $50,000 last month in connection with the Company's closing of its acquisition of Warnecke Design Services, Inc. GreenShift agreed to convert this debt and to assume and convert another $350,000 of the Company's debt into a new class of preferred stock in the Company with a face value of $400,000, a fixed conversion price of $0.01 and a 5% coupon. The 5% coupon is lower than the current ICDT-WDS note which is at prime plus one.
"We have some very exciting plans for Incode that we believe are best served by eliminating some of its debt in a manner that is accretive to shareholder wealth," said Kevin Kreisler, chairman and chief executive officer of GreenShift and chairman of the Company. "As a business development company, GreenShift's chief goal is to enhance its own value by helping to drive the value of its portfolio companies. Our immediate focus with Incode therefore will be on the reduction of debt both through the favourable use of Incode's equity, as we have done here with this investment, and the acquisition of companies that strengthen Incode's balance sheet sufficiently to allow us to refinance Incode's current convertible debts with standard conventional credit."
About Incode Technologies Corporation
Incode Technologies Corporation is a development stage company that was formed to acquire, develop and commercialize eBusinesses with integrated on -- and offline operations. Incode's core focus during 2005 has since been the completion of its restructuring plans to best position the Company for growth. In addition to deploying the planned portal during 2005, Incode intends to acquire and integrate a series of strategically compatible companies during 2005.
Incode expects to complete a reincorporation merger with its wholly owned subsidiary, Inseq Corporation, and change its corporate brand identity to the same name in June 2005. The new company will be marketed under the brand Inseq, or International Secondary Commodities Exchange. Inseq's mission will be to facilitate the efficient utilization of primary and secondary commodities including metals, chemicals, fuels and plastics.
Incode is 70% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and contribute to the resolution of environmental challenges.
Safe Harbor Statement
This press release contains statements, which may constitute "forward- looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Incode Technologies Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE Incode Technologies Corporation
Jim Grainer, President and Chief Financial Officer of Inseq Corporation, +1-973-398-8183, investorrelations@inseq.com; or Michael Cimini, +1-212-896-1233, mcimini@kcsa.com, or Garth Russell +1-212-896-1250, grussell@kcsa.com, both of KCSA Worldwide
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