Company Also Announces Definitive Materials to Complete a 400 for 1 Reverse Stock Split
July 31, 2008
IVI Communications, Inc. (OTCBB:IVCM)(OTCBB:IVCME) ("IVI") announced today that it has filed its annual report on Form 10-K for the year ended March 31, 2008. The filing of the annual report had been delayed in part due to limited working capital and the recent transition in management, following the acquisition of a controlling interest of IVI by Titan Global Holdings, Inc (Pink Sheets:TTGL). The filing of the annual report brings IVI back in compliance with all of its securities law and OTC BB reporting obligations.
IVI also completed the filing of the definitive Information Statement with the Securities and Exchange Commission to effectuate a 400 for 1 reverse stock split. IVI expects to complete the reverse stock within approximately 30 days.
Titan Global Holdings, Inc. recently acquired all of IVI's outstanding Series A and B Preferred Stock (the "Preferred Stock") from the former holders. The Preferred Stock includes the right to vote a majority of IVI's shares for any action to be taken by shareholders.
There are no current plans with respect to any specific changes in IVI's business, however, it is contemplated that Titan will assist IVI in acquiring or developing business operations in complimentary communication businesses.
"We are pleased to file our Form 10-K and definitive Information Statement," said Kurt Jensen, President of IVI Communications. "With these steps now taken and with the support and assistance of Titan Global Holdings, IVI's controlling shareholder, we will focus our effort on acquiring or developing business operations in promising communication businesses."
About IVI Communications, Inc.:
IVI's objective is to be an ex-urban provider of highly focused broadband services for businesses, schools, libraries and residential consumers. Our products include high-speed broadband access that is comparable to DSL and cable-based broadband products and offerings that scale from 128 kbps (residential opportunities) to 155 Mbps (OC3 equivalent) for customers with very large bandwidth needs. In addition to providing high-speed access, we intend to offer a complete suite of telecom products by serving as a full service Internet Service Provider (ISP), and providing toll grade (where applicable) voice over Internet protocol ("VoIP"), local and long distance services, and other aggregated value added services that management believes will improve our competitive position.
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources and distribution.
Titan's operating divisions include the following:
The Titan Global Energy Division owns and operates traditional and next-generation renewable energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
Titan's Communications Division serves the communication needs of those individuals that have emigrated from their host country to the United States or other countries and plans to addresses a range of high-growth markets in the international telecommunication segments, including communication technology, platform management, international wholesale communication and the distribution of prepaid international telecommunication products.
Titan Global Brands designs, develops, and distributes consumer products from value categories to high end branded categories, through its existing distribution channels and new ones suitable for such products. Together, it integrates, protects and expands its consumer brand management capabilities to leverage and optimize growth across Titan's worldwide distribution channels.
Titan Card Services plans to capitalize on the burgeoning multibillion-dollar international prepaid money transfer sector. Titan Card Services' proprietary technology provides for convenient and efficient international money transfers.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc., Titan Electronics Inc., and NEO EMS, Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers, and other high-tech clients.
For more information, please visit: www.titanglobalholdings.com.
For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/titan/ or http://www.b2i.us/irpass.asp?BzID=1314&to=ea&s=0.
To view current news, visit http://www.trilogy-capital.com/tcp/titan/quote.html. To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/titan/factsheet.html.
Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
Trilogy Capital Partners
Financial Communications:
Ryon Harms, Toll-free: 800-592-6067
info@trilogy-capital.com
