iVoice Provides Update: Corporate Strategies Files SB2 Registration for iVoice Dividend
PR Newswire - September 27, 2004 08:43MATAWAN, N.J., Sep 27, 2004 /PRNewswire-FirstCall via COMTEX/ -- iVoice, Inc. (OTC Bulletin Board: IVOC), a leader in speech recognition technology, said today that Corporate Strategies, Inc. has filed an SB2 registration with the Securities and Exchange Commission (SEC). The filing was agreed to as part of the recent funding of Corporate Strategies by iVoice.
iVoice previously announced a dividend to shareholders of record as of October 20, 2004 that provides for the 7,500,000 shares included in the registration to be distributed to iVoice shareholders once the registration goes effective. iVoice and Corporate Strategies are unable to assure investors of either the timing of the effective date or trading of the shares. That is solely at the determination of the SEC.
iVoice Chairman and CEO Jerry Mahoney said, "iVoice is distributing 7.5 million shares of Corporate Strategies to our shareholder base. As we said earlier, we have determined the best way to create shareholder value, separate and apart from the operating performance of iVoice, is to implement spinoffs of subsidiary companies or distributions of non-affiliated entities by distributing shares of our various subsidiaries or non-affiliated entities to the iVoice shareholders The distribution of shares will take place upon final approval by the board of directors of the terms and conditions of the distribution and the effectiveness of required SEC filings."
Tim Connolly, CEO of Corporate Strategies, said, "We are pleased to announce the fulfillment of our contractual obligations to the iVoice shareholders. We look forward to a continuing beneficial relationship with them."
Corporate Strategies recorded sales in excess of $1.7 million in 2003 and pre-tax income in excess of $130,000. The foregoing description of this transaction is qualified in its entirety by reference as filed with the SEC.
About Corporate Strategies
Corporate Strategies, Inc. is a merchant bank in the traditional European sense of the word. As the term has evolved from the 18th century to today, merchant banking describes an enterprise that not only finances a company's product or services, but also assists in developing a comprehensive business strategy. Corporate Strategies is comprised of seasoned executives with extensive experience in merchant banking, including business development and strategy, public and private company corporate finance, capital markets research, human resources, due diligence and transaction negotiation and execution. Corporate Strategies believes that solving near-term cash requirements of small businesses is a critically needed service but is rarely the total solution. The company provides consulting services, working capital financing and, in select cases, makes direct equity investments in client companies.
About iVoice
iVoice, Inc. designs, manufactures and markets innovative speech-enabled applications and computer telephony communications systems. Customers include ADP, Michael's Stores, BJ's Wholesale Club, American Red Cross and JVC. Through a single integrated solution capable of processing thousands of interactions per hour, the company's products provide cohesive, easy voice access to messaging systems, including telephone calls, e-mails, faxes and voice mail. Interactive Voice Response products developed by iVoice allow PC databases to be accessed via voice or from a standard touch-tone telephone.
For more information on iVoice, please visit http://www.ivoice.com .
A profile for investors on iVoice may be found at the website http://www.hawkassociates.com/ivoice/profile.htm .
An online investor kit containing iVoice press releases, SEC filings, current price Level II quotes, interactive Java stock charts and other useful information for investors can be found at http://www.hawkassociates.com and http://www.hawkmicrocaps.com . Investors may contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383, e-mail:info@hawkassociates.com .
This news release includes 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, as amended, regarding among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated" and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to iVoice, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
SOURCE iVoice, Inc.
Frank Hawkins or Julie Marshall, both of Hawk Associates,
+1-305-852-2383, or info@hawkassociates.com
http://www.ivoice.com
Copyright (C) 2004 PR Newswire. All rights reserved.
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