Replies to post #1028 on Wall $t Banker$$ (BANKZ)

[micasey123]

Maybe i'm out too early but profit is good

[micasey123]

I reloaded SMTR for the bounce.

[micasey123]

IDCT NEWS CORNELL is taking over .

Incode Executes Agreements for $10 Million in New Financing
PR Newswire - June 15, 2005 10:39
Company Restructures Convertible Debentures Relating to Former Operations


MOUNT ARLINGTON, N.J., June 15, 2005 /PRNewswire-FirstCall via COMTEX/ -- Incode Technologies Corporation (the "Company") (OTC Bulletin Board: ICDT) today announced the restructuring of its various convertible debentures totalling approximately $800,000 and its execution of agreements with Cornell Capital Partners for $10 million in equity financing under a Standby Equity Distribution Agreement ("SEDA").

The restructured debentures relate to the Company's former operations. The Company expects that the restructuring will facilitate the Company's intended future refinancing of its equity-based convertible debentures with standard conventional credit in line with its intended acquisition of companies that strengthen the Incode's balance sheet.

Additionally, under the SEDA agreements, Cornell has committed to provide the Company with up to $10 million in equity financing to be drawn down over the term of the agreements at the Company's discretion. The Company may use the funds as it sees fit once a registration statement is filed by the Company and declared effective by the Securities and Exchange Commission ("SEC").

"We view Cornell's SEDA structure as an innovative, flexible and extremely effective means of managing Incode's cost of capital as we help Incode target and complete acquisitions that are accretive to earnings and strengthen its balance sheet," said Kevin Kreisler, chairman of the Company and the chairman and chief executive officer of GreenShift Corporation (OTC Bulletin Board: GSHF), a business development company that owns a 70% stake in the Company.

"The key to the SEDA structure is performance -- Incode has to execute in order for it to optimally manage its cost of capital in a manner that maximizes shareholder value," said Kreisler. "It is critical for Incode to deliver on its acquisition and technology development plans, and we have every intention of succeeding."

"Additionally, we believe that allowing the conversion of Incode's debt at current market levels would be counter-productive to Incode's ability to use its capital structure effectively. The restructuring of Incode's debentures effectively prevents conversion into equity in the near term and gives Incode time to relieve pressure in its balance sheet by targeting and completing accretive acquisitions using conventional credit. The SEDA becomes essential on the back end of these transactions because it gives Incode valuable opportunities to service and reduce its planned, new conventional debt and provide additional working capital at conceivably far lower costs to shareholders," continued Kreisler.

"Finally, as relevant to GreenShift's ambition to enhance its own value by helping to drive the performance of its portfolio companies, we believe that the intelligent use by Incode of the SEDA will not only be accretive to Incode's shareholder value, but it will also enhance the net asset value of GreenShift given its 70% stake in Incode."

In its May 2005 Shareholder Letter, the Company announced that its strategic plans for 2005 are based on rational growth through acquisition and include the following key tactics:

* Target and complete acquisitions that add revenue and profits, and
strengthen the Company's balance sheet;

* Use favourable and cost-effective sources of financing that minimize the
Company's cost of capital and maximize the Company's long-term
shareholder wealth; and,

* Focus on acquisitions that specifically enhance the Company's
capabilities in each of the Company's intended new operational groups:
(a) manufacturing, (b) distribution and (c) technology design and
development.

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.

More information on Inseq is available online at http://www.inseq.com.

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, Inseq Corporation,
[phone], Fax: [phone], [e-mail]; KCSA Worldwide
Michael Cimini, [phone], [e-mail], or Garth Russell, [phone]
[e-mail], for Incode Technologies Corporation

http://www.prnewswire.com

Copyright (C) 2005 PR Newswire. All rights reserved.



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[micasey123]

IDCT is out of steam.Traders are scared of CORNELL.