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Author Topic: IVOT - Green company with 35% buyback
chiliandrillman
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IVOICE TECHNOLOGY A
Symbol IVOT



I GREEN INNOVATIONS, INC. Announces Board of Directors Consideration Adopting a Share Buyback Program, Company Believes Share Price Is Very Undervalued


2009-03-17 06:07 ET - News Release

MATAWAN, NJ -- (MARKET WIRE) -- 03/17/09


iVoice Technology, Inc., d/b/a I GREEN INNOVATIONS, Inc. (OTCBB: IVOT), announced today its Board of Directors has adopted a Share Buyback Program (the "Program"). Under the terms of the Program, the Board of Directors has authorized the management of the Company to make open market purchases of up to $75,000 from time to time during the next twelve months. At the present market price, this amounts to an anticipated purchase of approximately thirty five percent (35%) of the current common stock outstanding. The potential "Green industry" will be propelled by America's drive towards energy independence and global warming solutions that our customers, colleagues, investors and competitors desire now. The scale and growing pace of the "green collar economy" creates opportunities for our business to grow revenues, enhance our brand and save our customers money.

Jerry Mahoney, Chairman and Chief Executive Officer of I Green Innovations, Inc., stated, "The Company has taken this action as an indication of its commitment to its shareholders as the Company believes that its share price is non-reflective of the Company's true value. With our recent payoff of the outstanding convertible debentures, the Company having no debt is positioned for growth with 'Green' products."

The Company does not intend to change its capital structure in any fashion, except this reduction of issued and outstanding common shares to better reflect and bolster the true value of the Company through its share price.

About B Green Innovations:

B Green Innovations, Inc. ("B Green"), a Matawan, New Jersey-based Corporation is dedicated to becoming a "green" technology company, focused on acquiring and identifying promising technologies that address environmental issues. The first technology will be used to create new products from recycled tire rubber. Recently, we announced that we had filed a new Patent Application for a process it described as "paver blocks and patio blocks made from recycled tire crumb rubber." B Green Innovations, Inc. has also filed 3 additional patents on products made using 100% recycled tires.

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.

For more information on I Green Innovations, please visit

http://www.bgreeninnovations.com/

http://www.igreeninnovations.com


Contact:
Dolores Serafin
732-696-9333

--------------------
A proper due diligence will lead you into prosperity

Posts: 52 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
infrared
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A nice pullback today. Perfect buying opportunity tomorrow!

I GREEN INNOVATIONS, INC. Eliminates the Convertible Feature Into Common Stock From Its Preferred Stock, Removing Dilutive Instrument From Its Balance Sheet
B Green Innovations, Inc. Continues to Attract Re-Sellers, Now With Partners Nationwide and Canada Selling Its "Green" VibeAway(TM) & ECOPOD(TM) Products"Recycling the Planet One Product at a Time."

* Thursday March 19, 2009, 6:06 am EDT

*
Buzz up!
* Print

Related:

* iVoice Technology Inc.

MATAWAN, NJ--(MARKET WIRE)--Mar 19, 2009 -- iVoice Technology, Inc., d/b/a I GREEN INNOVATIONS, Inc. (OTC BB:IVOT.OB - News) announced today that the Company has amended the rights of the holders of its Series A Secured Preferred Stock ("Preferred Stock") and has removed the right for holders to convert the Preferred Stock into the Company's Common Stock. The Company has $1.44 million of Preferred Stock issued and outstanding. Additionally, the Company also removed the right for holders of the Preferred Stock to vote their stock as Common Stock.
Related Quotes
Symbol Price Change
IVOT.OB 0.00 0.00
Chart for IVOICE TECH CL A
{"s" : "ivot.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Jerry Mahoney, Chairman of I GREEN INNOVATIONS, said, "We have shown that we are committed to maximizing shareholder value for I Green Innovations by removing the last vestige of any potentially dilutive instrument from our balance sheet. We were able to accomplish this by showing our Preferred Stock holders the Company's potential for the future. Upon review, they agreed to the removal of the convertible feature from the Preferred Stock. This eliminates a massive overhang on the Common Stock, as the Preferred Stock can no longer have an effect upon the number of outstanding Common Stock shares and cannot be dilutive to Common Stock shareholders."

Mahoney continued, "With our rapidly increasing distribution of our products, our stock buy-back program, and the potential in the market for 'Green' opportunities, we believe the Company is in a great position to deliver on its prospects. We are excited about the future, and look forward to making additional announcements on further developments in the coming weeks."

About B Green Innovations:

B Green Innovations, Inc. ("B Green"), a wholly owned subsidiary of I GREEN INNOVATIONS, a Matawan, and New Jersey-based corporation, is dedicated to becoming a "Green" technology company, focused on acquiring and identifying promising technologies that address environmental issues. The first technology will be used to create new products from recycled tire rubber. Recently, we announced that we had filed a new patent application for a process it described as "paver blocks and patio blocks made from recycled tire crumb rubber." B Green Innovations, Inc. has also filed 3 additional patents applications on products using 100% recycled tires.

Posts: 14 | Registered: Feb 2009  |  IP: Logged | Report this post to a Moderator
   

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