iVoice, Inc., Announces 1-for-200 Reverse Stock Split and Change of Trading Symbol to IVOI Wednesday April 26, 4:30 pm ET
MATAWAN, N.J.--(BUSINESS WIRE)--April 26, 2006--iVoice, Inc (OTCBB:IVOC - News), announced today that its common stock will split 1-for-200. Each 200 shares of common stock will be converted into one new share of common stock. Shareholders of iVoice may retain their present certificates and do not have to submit them for replacement. The new trading symbol of iVoice, Inc. will be: IVOI
The shareholders of iVoice, Inc. approved this reverse split at the Company's Annual Meeting of Shareholders that was held on March 31, 2006.
The shareholders of iVoice also approved the following proposals:
1. The grant of discretionary authority for the Board of Directors to declare a cash dividend to Class A Common Stock shareholders of $1.5 million.
2. The grant of discretionary authority for the Board of Directors to effect the repurchase of sixty percent (60%) of the issued and outstanding Class B Common Stock shares for $1.5 million.
3. The re-authorization of 10 billion of Class A Common Stock.
4. The grant of discretionary authority for the Board of Directors to effect the buyback by the Company of up to $1 million of the Class A Common Stock.
7. The re-election of two members of the Board of Directors: Jerome Mahoney and Frank Esser
8. Approval of the iVoice, Inc. 2005 Stock Incentive Plan.
9. The ratification our Board of Directors' selection of Bagell Josephs Levine & Company, LCC to audit our financial statements for the fiscal year ending December 31, 2005.
10. The grant of discretionary authority for the Board of Directors to file an amendment to our Certificate of Incorporation to change our name to ARX Emerge, Inc.
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 offer long term growth prospects to increase shareholder value. 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. Factors that could cause or contribute to such differences include, but are not limited to those risk factors that are set forth in the section entitled "Forward Looking Statements - Cautionary Factors" in the Company's Form 10-KSB for fiscal year ended December 31, 2005 and other filings with the Securities and Exchange Commission from time to time. 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.
Contact: iVoice, Inc. Dolores Serafin, 732-441-7700 Just say "Investor Relations" investors*ivoice.com http://www.ivoice.com
-------------------------------------------------------------------------------- Source: iVoice, Inc.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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So what exactly does this mean for me and my pocket full of IVOC shares? DO they loose value or get bought back? I just got hosed by JPHC, I can't take to much more bad news.
-------------------- If ignorance is bliss, why aren't more people happy? Posts: 2647 | From: MN | Registered: Feb 2006
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The stock will/should go up in value by 200 times. If it will retain that value is the question. With the addition of a dividend and buyback we should be in good shape. I'm in this for the long run. Ivoc has been good in the past and I expect it to be that in the future.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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it means if you have 1 million shares now tommarrow you will have 5 thousand, should open at .18 ( .0009 x 200, todays close )how long it stays there is anyones guess. actualy i dont know if this split takes effect thursday or not.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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This RS is part of a planned change. Ivoice gave plenty of notice of the RS so those who wanted to could sell out. Most RS's are a surprise and usually mean the company is in trouble. This is NOT the case here. For every 200 shares you have you will have one new share worth 200 times the value of the old share.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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The way I read this is they raised the authorized shares to 10 billion and then the RS takes the AS to 50 million. Apply the 1.5 million dividend and you get .03 a share. The 1 million dollar buy back at .20 would take 5 million shares (10%) off the table and that might raise the value too. If the pps falls before the buyback, that many more shares would be shelved.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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I have never gained from a R/S what usually happens this that once the shares have been settled there is a sell off and now you have fewer shares at the same price before the R/S which means you lose. There is a reason why they are doing a R/S. Usually the company isn't doing as well as they say, they were duliting there shares for the last few years etc... I hope you experience this doesn't happen but experience tells me... OUCH!
Posts: 806 | From: CT | Registered: Dec 2005
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At the old ticker this is 9.7 million so far.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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From what everyone is saying, it takes a while for your broker to change em over. Not sure how long. but it seems once everybody gets there IVOI shares there will be a big selloff.
-------------------- May The Force be us!! Posts: 249 | From: Pittsburgh | Registered: Feb 2006
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quote:Originally posted by Darth Vader: From what everyone is saying, it takes a while for your broker to change em over. Not sure how long. but it seems once everybody gets there IVOI shares there will be a big selloff.
it wouldve been smarter to sell before the split same thing happened with svxa... now the bench mark of .18 is blown out expect little to no volume next week...
Posts: 3086 | From: miami | Registered: Nov 2005
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LOL...anyone that was stupid enough to wait until after the split to sell deserves what they get......
Let it tank...I'll load up.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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quote:Originally posted by BlindMellonChitlin: The stock will/should go up in value by 200 times. If it will retain that value is the question. With the addition of a dividend and buyback we should be in good shape. I'm in this for the long run. Ivoc has been good in the past and I expect it to be that in the future.
Your posts dont make sense. Obviously your still in and you didn't sell off before the split. According to this post.
-------------------- May The Force be us!! Posts: 249 | From: Pittsburgh | Registered: Feb 2006
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No I didn't sell. I'm in it for the long run...come what may. I've made good money with Ivoice and expect to again.
There is more to this than just the RS.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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Do we know if they have bought back the shares yet?
I would think that would improve their pps. At this point I'm in it long now as well. Since I don't have that much in this stock to begin with I just plan to ride it out and see what happens. What's a few hundred bucks for a little education. Who knows maybe they'll release some good news regarding their deals in China and the thing will fly.
-------------------- Up Up and Away! Posts: 225 | From: Minneapolis | Registered: Jan 2006
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This stock does not gyrate up and down like most pennies. It's one of the few I feel is worth 'investing' and then wait for it to go....or get some free shares from spin-offs.
Most traders here are just looking to get rich. They expect to go into a stock and then sell a few hours/days later for a big gain. That happens ...but not very often.
I am not pumping this stock. Do your DD and make your own mind up.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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Looks like they're changing their collective mind about the stock buy back. I have a bad feeling that will caust the pps to fall significantly.
Posts: 73 | From: Oklahoma City | Registered: Dec 2005
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iVoice Announces Results of Proxy Vote, Update To Shareholders; May Use Cash on Hand for Acquisitions and Not for a Contemplated Stock Buyback of Any Class of Company Stock
MATAWAN, N.J., Apr 28, 2006 (BUSINESS WIRE) -- iVoice, Inc. (IVOI, Trade), announced today the results of its recent proxy solicitation. The shareholders of iVoice approved all the proposals submitted with overwhelming support at the Company's Annual Meeting of Shareholders that was held on March 31, 2006.
On April 27, 2006, the Company implemented the 1 for 200 reverse stock split of the Company's Class A Common Stock that was approved by shareholders at the recent Annual Meeting of Shareholders. The new trading symbol of iVoice, Inc. is: "IVOI."
While the shareholders of iVoice also approved all the additional proposals, with a large voting majority, all remaining proposals that were passed by shareholders are subject to the discretionary authority of the Board of Directors. The Board is continuing to carefully review these proposals, but has not decided at this time whether to implement any of these other proposals passed by shareholders. The Board has 90 days to decide which, if any, of the proposals are to be implemented.
With over $10 million of cash on its balance sheet and the availability of additional financing at hand, the Company is looking to implement a roll-up strategy by acquiring the best and brightest companies and bringing them together under the umbrella of a single organization. Our principal interest is in companies with proprietary intellectual property serving a significant market segment, or an entity which otherwise has a defensible market position in its space. Therefore, the Board of Directors may decide to use the cash on hand for acquisitions and not for a contemplated stock buyback of any class of Company stock, although no firm decision has been made at this time.
The Board of Directors will keep the shareholders apprised of any decisions in the future.
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 offer long term growth prospects to increase shareholder value. 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. Factors that could cause or contribute to such differences include, but are not limited to those risk factors that are set forth in the section entitled "Forward Looking Statements - Cautionary Factors" in the Company's Form 10-KSB for fiscal year ended December 31, 2005 and other filings with the Securities and Exchange Commission from time to time. 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.
posted
Related Quotes Sym. Price Chg. IVOI Trade News 0.11 0 iVoice, Inc. CEO Featured In Exclusive Interview With WallSt.net
May 01, 2006 06:15:01 (ET)
MATAWAN, N.J., May 01, 2006 (BUSINESS WIRE) -- iVoice, Inc. (IVOI, Trade), On April 28, 2006, Jerry Mahoney, CEO of iVoice, Inc. updated the investment community in an all-new, exclusive interview with www.wallst.net. Topics covered in the interview include an overview of the Company and the markets it serves, recent press releases, current capitalization, upcoming strategic and financial milestones.
To hear the interview in its entirety, visit www.wallst.net , and click on "Interviews." Interviews require free registration, and can be accessed either by locating the respective company's ticker symbol under the appropriate exchange on the left-hand column of the "Interviews" section of the site, or by entering the respective company's ticker symbol in the Search Archive window.
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 offer long term growth prospects to increase shareholder value. For more information, contact CEO Jerry Mahoney at (732) 441 7700 or by e-mail at jerrym*ivoice.com.
About WallSt.net:
-------------------- It will feel better when it stops hurting. Posts: 47 | From: Ohio | Registered: Sep 2005
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What's eveyones guess how long it'll take to be sub penny again? I'll have to take my lumps and hope that the future will be better. Providing the 'genius' running this pulls a rabbit out of his ass.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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I gave up on this POCrap. I'm out. Dumped a few poor movers today and bought some TIE, the real deal. They are splitting 2 for 1 Friday and have done nothing but go up last few months.
Posts: 2498 | Registered: Mar 2006
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Im stuck in it, Like I said before I dont have much more to loose in this POS. Might as well stick with it and hope for the best. Already down almost 60% mainly from when it fell off a cliff last week. Its the equivalent of half of what it was when it was a sub-penny last week.
-------------------- "Money, so they say Is the root of all evil today." Posts: 228 | From: NE, PA | Registered: Mar 2006
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iVoice Announces Purchase Order for Thomas Pharmaceutical`s Acid+All(TM) from Major Drugstore Chain; Thomas Pharmaceuticals is a Wholly Owned Subsidiary of iVoice, Inc.
May 02, 2006 06:29:01 (ET)
MATAWAN, N.J., May 02, 2006 (BUSINESS WIRE) -- Thomas Pharmaceuticals, a wholly owned subsidiary of iVoice, Inc. (IVOI, Trade), announced today that it received a purchase order for its Acid+All(TM) consumable product from a major drugstore chain.
The new customer operates over 5,000 stores in 45 states.
Thomas Pharmaceuticals which is giving the over-the-counter antacid category a makeover with the introduction of this sleekly packaged high-end antacid, Acid+All(TM).
Thomas Pharmaceuticals adds a hip retro twist to the otherwise frumpy over-the-counter antacid category. Acid+All(TM) soothes heartburn with flair; its unique blue and white chicly designed tin harkens back to the days when apothecary products were packaged with panache -- a quality that today's upscale consumers are sure to accept. Available since March 2006, the 32-count calcium enriched, spearmint-flavored and sugar free tablets will retail for approximately $2.99. Acid+All(TM) will be sold through independent pharmacies large distributors and major drug chains. Thomas Pharmaceutical plans to introduce Acid+All(TM) line extensions later this year along with other new OTC products.
About Thomas Pharmaceuticals Ltd.
Thomas Pharmaceuticals Ltd., based in New York, N.Y., develops and markets over the counter non-prescription healthcare products. The company focuses on high-end, branded consumables. Its first product, Acid+All(TM), is a calcium-enriched sugar free anti-gas antacid.
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.
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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