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ActiveCore Announces Improved Financial Results for Fiscal 2003 TORONTO, May 7, 2004 /PRNewswire-FirstCall via COMTEX/ -- IVP Technology Corp. (OTC Bulletin Board: TALL), d.b.a. ActiveCore Technologies, Inc., has announced significantly improved financial results for the 2003 fiscal year in its 10KSB filing to be made today with the SEC.
In the 10KSB filing for December 31, 2003, ActiveCore revealed that revenues almost doubled to $612,953 over the $314,063 recorded in the fiscal year ended December 31, 2002. Primary reasons for the increase were the ongoing success of the company's MDI Solutions group, which specializes in healthcare data integration services and software, and recent inroads into the financial services market. The net loss for the most recent fiscal year was $1,845,984 or $(0.01) per share versus fiscal 2002's loss of $21,831,664 or $(0.32) per share. The weighted number of shares outstanding at December 31, 2003 was 190,536,415 versus 66,013,725 in the fiscal 2002 period.
The company also marked a major turnaround on its balance sheet with assets rising to $1,256,370 in the 2003 fiscal year from $637,117 at the fiscal year ended 2002. Liabilities fell from $15,121,769 at the end of December, 2002 to $2,392,173 on December 31, 2003. Total stockholder deficiency also decreased to $1,135,803 from $14,484,653.
Brian MacDonald, Chairman and CEO of ActiveCore said, "we expect further improvements in our financial statements as we progress through the 2004 fiscal year. In the first quarter of 2004 we sold certain assets associated with of our cell phone game/ring tone development staff and our attendant game/ring tone distribution portals to concentrate on our mission of selling Smart Enterprise Suite software and services. Our Smart Enterprise products and services are sold tactically and "integrate, enable and extend" internal applications and processes in healthcare, financial services, education and government sectors. Proceeds from the sale of the game assets, details of which were previously announced, will be recorded in this year's first quarter financials and result in ongoing interest and royalty revenues which will extend out for several years. Our debt/equity position will be favorably impacted by the sale, which, in turn, should allow us to expand our operations and grow our sales and marketing activities into other areas within our overall technology and business roadmap."
About ActiveCore Technologies, Inc.
IVP Technology Corporation, d.b.a. ActiveCore Technologies, Inc. develops, sells and implements its "Smart Enterprise" suite of products. These products consist of web portal, enterprise and mobile components and applications which provide organizations of all sizes the capability to "integrate, enable and extend" back office systems to connect to customers and stakeholders. ActiveCore also operates under the name MDI Solutions, an IT and specialized integration service primarily to the healthcare industry.
For information about ActiveCore contact Brian MacDonald at (416) 252-6200. Detailed information about ActiveCore can be found on the website www.activecore.com.
Statements contained in this news release regarding IVP Technology and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond IVP Technology'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 IVP Technology's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on December 24, 2003. 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.
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ActiveCore Announces Acquisition of C Comm Network Corporation TORONTO, May 7, 2004 /PRNewswire-FirstCall via COMTEX/ -- IVP Technology Corp. (OTC Bulletin Board: TALL), d.b.a. ActiveCore Technologies, Inc., announced today that it has acquired all the issued shares of C Comm Network Corporation, a privately held Toronto based company, effective May 6, 2004. The purchase price, approximately USD 475,000, will be satisfied by issuance of ActiveCore shares.
C Comm is a corporate message broadcasting service which employs communication media such as Facsimile, Voice, SMS text, MMS graphics and e-mail to deliver dedicated messages to an organization's customers, partners, employees and other stakeholders in the mode preferred by the recipient. C Comm's outbound messaging capability provides ActiveCore with a key technology infrastructure platform which will combine with the capabilities of its DynaPortal and ActiveLink products. The company will begin marketing C Comm's capabilities under the product category "ActiveCast". Using ActiveCast the company will begin to offer a complete range of inbound data capture, legacy data base access, and outbound messaging products and services.
Brian MacDonald, Chairman and CEO of ActiveCore said "We believe that the addition of C Comm's existing customer base will allow our revenue from this portion of our business to reach approximately USD 1 million by the end of the current fiscal year. Revenue from this division will be recurring and brings with it a high profit margin. In the last week we also added four additional experienced sales personnel to augment C Comm's existing sales force."
Robert Schieren, spokesman for C Comm Network Corporation commented "we are very excited by the purchase of our company by ActiveCore and by the ability to link our technology and customers with ActiveCore's portal and data base integration capabilities. Companies such as J2 Global and Xpedite have already demonstrated that linking back office systems through specialty portals to outbound communication media is a powerful tool for creating truly "Smart" enterprises. ActiveCore's growing customer base in health care, financial services and government provide the perfect market sectors for rapid expansion."
About ActiveCore Technologies, Inc.
IVP Technology Corporation, d.b.a. ActiveCore Technologies, Inc. develops, sells and implements its own "Smart Enterprise" suite of products. These products consist of web portal, enterprise and mobile components and applications which give organizations of all sizes the capability to "integrate, enable and extend" back office systems to connect to customers and stakeholders. ActiveCore also operates under the name MDI Solutions, as an IT and specialized integration service primarily to the healthcare industry. For information about ActiveCore contact Brian MacDonald at (416) 252-6200. Detailed information about ActiveCore can be found on the website www.activecore.com.
Statements contained in this news release regarding IVP Technology and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond IVP Technology'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 IVP Technology's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on December 24, 2003. 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.
YEAR-END RESULTS Co. also reported Year-End results ended December 2003. FY Revenues were $0.61M; +95.17% vs yr-ago. FY EPS was (1c); +96.88% vs yr-ago.
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Somewhere next week they will bring on the Q1 reports for 2004.
This should show the continuate improve of the good results of the last quarter of 2003, which showed a positive net EPS of +0.0145.
They sold some expensive divisions during the 1st quarter of 2004 so that should reduce their operational costs and boom the EPS.
Last Friday’s report shows a huge turn around in EPS so IMO the PPS of TALL should go back up to the level where we were at the end of 2002 when the 10K report with EPS of –0,32 was annouced. That report caused the drop in PPS. PPS that time was .20 -.25. Current PPS is 0,0145.
For people who want to get in this undervaluated hidden gem, this week will be THE moment because once they publish Q1 reports 2004 TALL will go north all the way without looking back.
Also do your own DD on this one, you won't regret it.
LIVIOS.
[This message has been edited by Livios (edited May 10, 2004).]
quote:Originally posted by Livios: Already up 10% on high volume.
LIVIOS
We could'nt hold the profit of this morning, probably because we are still trading with an E behind the ticker symbol and that scares potential investors. But that E will dissapear tomorrow so with a little buying pressure this one has to go up. http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=OTCBB&d=05/10/2004
Be aware of the fact that next week we have the earnings report of Q1 of 2004. Once they release this current PPS will be history.
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Very interesting PR dated 26 feb. when they announce the sell of their games division.
Especially the following parts are very interesting to me and these are the things that convince me the 10K of next week will very good.
"an immediate reduction of approximately $1,400,000 in annual overheads"
"we believe we will be able to generate a minimum of $0.01 additional positive earnings per share during the current 2004 fiscal year."
IVP Technology Sells Mobile Games Division TORONTO - PRNewswire-FirstCall - Feb. 26 TORONTO, Feb. 26 /PRNewswire-FirstCall/ -- IVP Technology Corp. (BULLETIN BOARD: TALL) , d.b.a. ActiveCore Technologies Inc., announced today that it has sold majority control of its mobile games division to 1607590 Ontario Limited for approximately $1,750,000 effective March 1, 2004. 1607590 Ontario Limited will be renamed SilverBirch Studios Inc. following completion of legal documentation.
SilverBirch Studios Inc. is currently majority controlled by Kevin Birch, who has resigned from ActiveCore Technologies effective immediately. The games division transaction will proceed as a sale of assets, the terms of which have been approved by the independent members of ActiveCore's board of directors.
The purchase price will be satisfied by a 12% convertible debenture for approximately $750,000 payable over two years plus a 2% royalty on all gross revenues to a cap of $1,000,000 expiring in 5 years. ActiveCore will retain the right to convert the outstanding balance of the $750,000 debenture into equity in 1607590 Ontario Limited prior to the expiry of two years, subject to certain limitations, at the then prevailing share price of 1607590 Ontario Limited. ActiveCore Technologies will retain an initial 5% equity holding in the new company with a right to participate in further equity raising to maintain its ownership level.
Brian MacDonald, chairman and CEO of ActiveCore said, "The sale of the Games Division is a major business focus watershed for ActiveCore. We have built two successful divisions within a short period of time, both of which are poised to deliver immediate and excellent returns. While some of our shareholders will be disappointed by the sale of the games division, the sale will maximize immediate shareholder returns in 2004 and 2005. The overall market for middleware enabled mobile and web based enterprise applications is far larger than for mobile games."
Continuing on Mr. MacDonald also said, "From a financial perspective, ActiveCore will begin to receive royalty, interest and principal payments combined with an immediate reduction of approximately $1,400,000 in annual overheads related to the games division. Some of the overhead savings will be redeployed to boost our successful "smart enterprise" products and services under both the ActiveCore and MDI Solutions names and brands. Solely as a result of the sale of the games division, and based on an estimated 325,000,000 shares outstanding, we believe we will be able to generate a minimum of $0.01 additional positive earnings per share during the current 2004 fiscal year. Our decision to sell the games division substantially reduces the level of operational risk in the company while providing us with an on going stake in the mobile games market as revenues and profits in that market area grow over the next two years."
Brian MacDonald also said, "Our recent strategic partnership with BiznizWeb Inc. of Houston has lead us to concentrate our operations through a major investment in mobile and middleware enabled portals and in MDI Solutions, which in turn, with future acquisitions, will allow us to become a bigger factor and participant in the what the Gartner Group terms 'Smart Enterprise Suites.' We see the ability to focus on the 'smart enterprise' market segment as providing substantially greater shareholder value over the short to medium term than spreading our attention over two increasingly divergent business divisions. Our ability to create and sustain a viable mobile games division over the last year will however continue to contribute to ActiveCore's overall market value through our passive investment in SilverBirch Studios."
Kevin Birch, chairman and CEO of the new SilverBirch Studios Inc., said "Since its inception, IVP's mobile games division has rapidly grown to become a leading, progressive developer of games and ring tones, and we feel that its Recess Games portal is the finest mobile content distribution platform in the industry. This acquisition is validation of our belief in the division, and we are very excited about this transaction and the anticipated benefits for both IVP and SilverBirch. We look forward to an ongoing, mutually beneficial business relationship with ActiveCore."
In other news the company also announced that Hawk Associates will no longer be providing Investor Relations services for ActiveCore, also effective March 1, 2004, although the company will continue to be represented on The American Microcap Institute website at http://www.hawkmicrocaps.com/ where Sarbanes Oxley mandated materials of interest to investors in ActiveCore Technologies Inc. may be accessed.
About BiznizWeb Inc.
BiznizWeb Inc. d.b.a. DynaPortal Software Company is a privately held Texas corporation created by a group of seasoned professionals that combine years of traditional IT and business expertise with the new energy of the Web to produce quality portal software. Since 1995, DynaPortal has been creating Web applications that exploit new communications and information channels. As both business computing and media converge on the Web platform, the company strives to produce innovative new ways to exploit this exciting e-Business environment. More information may be obtained at http://www.dynaportal.com/.
About SilverBirch Studios Inc.
SilverBirch Studios Inc. (http://www.silverbirchstudios.com/) is a newly incorporated Canadian company which has acquired certain assets and operations of ActiveCore Technologies. The company is a developer, publisher and distributor of mobile games and ring tones. More information may be obtained by contacting Kevin Birch at kbirch@silverbirchstudios.com.
About ActiveCore Technologies, Inc.
IVP Technology Corporation, d.b.a. ActiveCore Technologies, Inc. is an emerging, fast-growing software company that develops, distributes and implements middleware enabled mobile and web applications. ActiveCore is rapidly becoming a major participant in Gartner Group's "Smart Enterprise" sector. ActiveCore also owns MDI Solutions, a North American wide IT and specialized integration service primarily to the healthcare industry. Mobile and web solutions sold by ActiveCore Technologies allow business customers to "integrate, enable and extend" back office and legacy systems to meet the needs of customers and staff wherever they may be located.
For investor relations information contact Brian MacDonald at (416) 252-6200 extension 313. Detailed information about ActiveCore can be found on the website http://www.activecore.com/. Copies of ActiveCore press releases, current price quotes, stock charts and other valuable information for investors may be found on the website http://www.hawkmicrocaps.com/
Forward-Looking Statements
Statements contained in this news release regarding IVP Technology and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond IVP Technology'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 IVP Technology's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on December 24, 2003. 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.
quote:Originally posted by OneGreater: Looks good to me. I appreciate your DD. I'll be buying some shares in the am.
I was in on the run in 2002 and it does look like one is brewing now.
Thanks again!
There is definately something brewing with TALL.
Next week we will know more about it. I expect an increase of the PPS in anticipation to the release of the 1st Quarter report. Maybe we already start going up today.!!!
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Nice time to get in, pps is slowly creeping up. Next week should be interesting. Do the DD this company is undervalued. They sold their gaming division and purchased C Comm which is expected to bring in more revenue than the games ever did for them. Add that to their current services which are in demand. This has the potential to go big.
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quote:Originally posted by vclimber: Nice time to get in, pps is slowly creeping up. Next week should be interesting. Do the DD this company is undervalued. They sold their gaming division and purchased C Comm which is expected to bring in more revenue than the games ever did for them. Add that to their current services which are in demand. This has the potential to go big.
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