MATAWAN, N.J., June 15, 2004 (PRIMEZONE) -- iVoice, Inc. (OTCBB:IVOC), a leader in speech recognition technology, today announced that it has signed a letter of intent to invest in a Texas based merchant banking company.
"iVoice intends to bring to bear its total resources to enhance our overall shareholder value," said Jerry Mahoney, CEO of iVoice, Inc. "We recognize the difficulty in obtaining capital funding. By virtue of our very strong cash position, iVoice has been given a unique opportunity to take an equity position in a diversified, well-managed merchant banking company that is involved in a variety of different financial services. We are being solicited on a regular basis to participate in a variety of different transactions, and we will pursue those that management believes represent the greatest opportunity for capital appreciation, so as to maximize and enhance the shareholder value for iVoice investors. iVoice's current cash position enables us to take advantage of numerous opportunities in the marketplace, and we will be exploring different avenues that may be available with which to distribute these equity positions directly to our shareholders"
Mahoney goes on to state: "While the downturn in equity values in the past few years has discouraged many investors and negatively impacted the IPO market, we believe it to be an opportunity for iVoice to expand its asset base. We should be able to announce more definitive deals in the very near future."
In our review and analysis of potential investment or acquisition targets, we are interested in candidates that represent excellent growth potential, are in a viable and stable market segment, and employ a current management team committed to the organization's success. These prospective investments or acquisitions may or may not be in the same industry as iVoice.
About iVoice, Inc.:
iVoice, Inc. designs, manufactures and markets innovative voice and computer telephony communications systems for businesses and corporate departments. The Interactive Voice Response (IVR) products developed by iVoice allow information in PC databases to be accessed via voice or from a standard touch-tone telephone. The products are designed to be simple for the end user and provide a cohesive system to access messaging systems using your voice.
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.