ORLANDO, Fla., Sept. 6, 2005 (PRIMEZONE) -- IDS Worldwide Solutions, Inc. (Pink Sheets:IDWS) announced today that the company, under its previously announced stock buyback program, has repurchased 10 million shares of IDS common stock in a series of open market and private purchases. IDS' stock buyback program has reduced the outstanding common shares of the company by approximately 20 percent.
IDS' CEO, Patrick Downs, stated, "IDS chose to repurchase these shares due to market conditions that enabled the company to repurchase these shares at extremely undervalued prices. IDS believes that the current stock price did not truly reflect the growth in the company's Homeland Defense Division and the exemplary growth of IDS' leading online sales portal, 995ad.com." IDS has achieved a 2,600 percent growth in orders in its Homeland Defense Division this quarter. IDS' leading Internet portal, 995ad.com, (http://www.995ad.com) has become the second-largest online car site in the world, with over 557,500 cars and 12,900 dealers in its first quarter of operation.
IDS previously announced its guidance for the company's first year as a publicly traded company with revenues of $25 million - $30 million and EPS of $.21 - $.23.
The 10 million shares of IDS common stock will be retired to the treasury as authorized but not outstanding shares. In the future, IDS may use these shares for a number of current objectives including, but not limited to, acquisitions and a common stock dividend.
IDS has retained counsel to file a registration statement for its wholly owned subsidiary, 995ad.com. Upon effective registration statement, 995ad.com will trade on the OTCBB as a wholly owned, publicly traded subsidiary of IDS Worldwide Solutions, Inc. (Pink Sheets:IDWS) (http://www.ids-worldwide.com). Common stockholders of IDS Worldwide Solutions, Inc. will receive a pro-rata number of shares of 995ad.com pursuant to each individual investors holdings as of the effective date of the registration statement of 995ad.com.
IDS' CEO, Patrick Downs, further stated, "IDS believes that due to the diverse holdings of the company, it is appropriate to separate the Homeland Defense Division and the 995ad.com Portal and Data Centers into two separate public entities. IDS feels this will greatly enhance shareholder value in both stocks and provide a clearer picture to the investment community of IDS diverse operations."
For further information: http://www.ids-worldwide.com and http://www.995ad.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.