iBIZ Issues Corporate Update
Tuesday, January 25, 4:30 pm ET
PHOENIX, January 25th, 2005 /PRNewswire-FirstCall/ -- iBIZ Technology
Corp. (OTC Bulletin Board:
IBZT -
News), an innovative manufacturer and
distributor of accessories for personal digital assistants (PDAs) and
other handheld devices, issues a corporate update.
“The last twelve months has presented
new obstacles and challenges,“ commented Ken Schilling, iBIZ President
and CEO. We are diligently working to overcome these issues and are in
the process of restructuring iBIZ in an effort to reposition the company
for profitability. IBIZ is exploring options to create growth in revenue
this year, which has been and continues to remain our number one
priority. As part of our plan, thus far we have successfully
implemented various positive changes resulting in the elimination of all
of our outstanding convertible debt and in the reduction of the
company’s overhead by laying-off all non-essential personnel, delaying
officer’s salaries, and temporarily delaying all cost intensive projects
which include, The Bluedock by Synosphere and the virtual keyboard by
VDI.
Mr. Schilling continued, “Anticipated
changes shall encompass our board of directors, our executive team, as
well as our sales and marketing initiatives. To date, we have doubled
our product offering, created a new partner program for resellers, we
have changed our website for easier navigation and have revised our
pricing structure for our partners. Our staff is highly focused on
revenue oriented growth and we look forward to the changes that will
take place in the coming months. We are enthusiastic about our
strategic growth plans and further announcements shall be released as
they become available.”
About iBIZ Technology Corp.:
iBIZ Technology Corp. is a leading
manufacturer and distributor of accessories for personal digital
assistant (PDA) and other handheld devices. iBIZ is recognized for
innovative, high-quality, competitively priced products. For more
information on iBIZ products and services, please visit
www.ibizcorp.com.
For further information, please contact:
Investor Relations, Ed Lewis of CEOcast +1-212-732-4300, for iBIZ
Technology Corp.
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are
subject to the safe harbor created by those rules. All statements, other
than statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and objectives
of the company, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Technical
complications that may arise could prevent the prompt implementation of
any strategically significant plan(s) outlined above. The company
cautions that these forward looking statements are further qualified by
other factors including, but not limited to those, set forth in the
company's Form 10-KSB filing and other filings with the United States
Securities and Exchange Commission (available at
www.sec.gov).
The company undertakes no obligation to publicly update or revise any
statements in this release, whether as a result of new information,
future events or otherwise.
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