TORONTO, April 1, 2005 (PRIMEZONE) -- ActiveCore Technologies, Inc. (OTCBB:ATVE) announced today that it has filed for a financial reporting extension with the SEC for its 10KSB for the year ended December 31, 2004.
ActiveCore, being a multi-national corporation, until recently relied upon three different accounting firms in three different countries (U.S., U.K. & Canada) to complete audits and other financial reporting obligations. This has often resulted in filing delays in the past. Having acknowledged this shortcoming, management pro actively sought out a single source solution and hired the firm of BDO Dunwoody LLP to audit the 2004 annual consolidated financial statements.
ActiveCore President & CEO, Mr. Peter Hamilton stated, "As with any company experiencing ActiveCore's incredible growth rate, there are bound to be some growing pains. We have identified a problem which has led to some late filings in the past and believe that moving forward our decision to move to a single source for all of our audit and related regulatory compliance needs will inevitably lead to consistently timely filings in the future. While the timing of our move to a new independent registered public accounting firm has resulted in our current 10KSB extension, we firmly believe that the short-term pain of the delay will be worth the long term gain to be reaped by all shareholders. We thank shareholders for their continued support of ActiveCore and can assure each and every one of you that your trust in ActiveCore and its management will be rewarded."
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 http://www.agoracom.com and view the "ActiveCore" IR Hub. Alternatively, investors can e-mail AGORA Investor Relations directly at ATVE@Agoracom.com.
About ActiveCore Technologies, Inc. (http://www.activecore.com )
ActiveCore Technologies, Inc. operates a group of subsidiaries and divisions in the US, UK and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems and facilitate mass corporate messaging through our ActiveCast product set. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. ActiveCore operates under the trade names of MDI Solutions, C Comm Communications Inc. Twincentric Limited and Disclosureplus. ActiveCore services clients in healthcare, financial services, government and manufacturing worldwide.
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.