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iVoice Enters into Letter of Intent To Acquire Pharmaceutical Company; Thomas Pharmaceuticals To Become Wholly-Owned Subsidiary 12/1/05
MATAWAN, N.J., Dec 01, 2005 (BUSINESS WIRE) -- iVoice, Inc (OTCBB: IVOC) announced today that it signed a non-binding letter of intent to acquire Thomas Pharmaceuticals Ltd. ("Thomas"). The transaction, which is subject to due diligence and the usual and customary conditions, is expected to close in December 2005. It is anticipated that Thomas will merge into a wholly owned subsidiary of iVoice.
Thomas Pharmaceuticals Ltd. develops and markets over the counter healthcare products. Thomas focuses on high-end, branded consumables. Its first product, Acid+All "TM", is a calcium-enriched, sugar free, anti-gas antacid tablet targeted to travelers, executives and baby boomers requiring antacid relief. The product is fully developed, and sample quantities have been submitted by an FDA approved contract manufacturer who can deliver production quantities within 60 days of receipt of a purchase order.
Tom Thomas, President of Thomas Pharmaceuticals, stated, "The Company anticipates that Acid+All will be sold through specialty drug stores, national chain drug stores, international airport shops and luxury hotels, primarily through point of purchase displays."
Jerry Mahoney, CEO of iVoice, remarked, "The Company recognizes that there are several antacid tablets on the market manufactured by large companies with substantial sales and marketing resources. The Company has no intention of competing directly with Tums(R) or Rolaids(R), for example. Management believes, however, that its creative marketing strategy, which includes unique packaging, an eye catching point of purchase display and creative sales promotion will enable Thomas to achieve its goals."
About iVoice, Inc.
iVoice has determined that the best way to create shareholder value, separate and apart from the operating performance of iVoice, is to implement new business opportunities by distributing shares of spin-offs to the company's shareholders. The common stock distributions are part of a broader strategy relating to the transition of iVoice into a company focused on the development and licensing of proprietary technologies. We also continue to search for potential merger candidates with or without compatible technology and products, which management feels may make financing more appealing to potential investors. For more information, contact CEO Jerry Mahoney at (732) 441 7700 or by e-mail at jerrym*ivoice.com.
Certain information included in this press release, may contain forward-looking statements about our current and expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the Securities and Exchange Commission, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. Information set forth in this press release contains various "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. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
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