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ActiveCore Signs Worldwide Agreement for Use of Its ePocket Digital Coin Technology in the On-Line Gambling Market 7:31a ET January 16, 2007 (Market Wire) ActiveCore Technologies, Inc. (OTCBB: ATVE), a Company that operates as a payment technology solution provider, is pleased to announce that it has signed three binding agreements with E-COIN Limited (E-COIN), a private UK and Spanish-based gaming group. The three agreements were signed on January 12th, 2007 and they define the terms under which the companies plan to operate together in the on-line gambling industry. Worldwide revenue from online gambling is expected to double over the next five years to more than $20 billion USD. E-COIN will use the safer, more secure, anonymous and cost-effective ePocket technology to take market share away from other higher risk and more expensive solutions currently offered to online gamblers. With the signing of these agreements, ActiveCore earns a one-time advance royalty fee, an implementation fee and a perpetual royalty fee from each transaction processed. ActiveCore expects to be receiving an annual royalty run rate of between $5-6 million USD from E-COIN by the end of 2007.
Peter Hamilton, Chief Executive Officer of ActiveCore, stated, "The online gambling industry is a huge market with more than 2300 internet gambling sites across the world. In Europe alone, there are more than 3.5 million online gamblers each betting more than $1500 USD on average per year." Mr. Hamilton went on to say that, "E-COIN, a UK-based company with offices in Spain, is ideally positioned to take advantage of the growing European gambling market and recent changes in UK government legislation to encourage more online gambling companies to base their operations in Britain. We are thrilled to be entering into this business relationship with E-COIN as it allows ActiveCore to simultaneously gain exposure in the on-line gambling market while continuing to focus its energies on other potential verticals as well."
Mr. John Clarke, Founding Director of E-COIN stated, "We anticipate that the implementation of the ePocket technology will propel E-COIN to the forefront of the on-line gambling market by offering its customers a unique payment solution that protects their anonymity. The elimination of identity theft and fraud results in a simpler, more cost effective payment for online transactions. We strongly believe that these key attributes will make it the payment method of choice for both the consumer and gambling merchant."
This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit ActiveCore IR Hub located at http://www.Agoracom.com/IR/ActiveCore.
About ActiveCore Technologies, Inc. (www.activecore.com)
ActiveCore Technologies, Inc. operates as a payment technology solution provider, primarily in the on-line payment market. Our products encompass a variety of payment technologies as well as our own integration tool kit and direct marketing software platform that allows us to better support our payment technology clients.
About ePocket Digital Coin Technology (www.ePocket.com)
ePocket brings true electronic cash to the world for the first time, making purchases over the Internet as secure and simple as handing cash to a clerk in a store. ePocket enables banks to provide their customers with the ability to withdraw electronic cash in any currency from their regular deposit accounts, and send this electronic cash to merchants or other consumers in order to make payments. Cash created electronically is just like real cash, except there are no coins, bills, or plastic cards -- it is entirely electronic. Just like real cash, electronic cash does not require the identification of a payer. This provides privacy for consumers, and eliminates fraud and identity theft, making ePocket the most cost-effective payment solution for Internet commerce. In contrast to other payment schemes, consumers do not have to open additional accounts with a payment intermediary. Consumers do not have to give up any identity or credit information in order to accomplish a payment. This makes ePocket payments completely secure and provides complete privacy for consumers.
About E-COIN Limited
E-COIN is a private UK Company with operations in Spain. The Company was founded by a group of European-based investors who have experience in the on-line Gaming/Gambling industry. The Company was formed to introduce innovative technology to the on-line Gaming/Gambling market.
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.
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz) Posts: 719 | From: Leesburg, VA | Registered: Jul 2005
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