TALL kewl beans :-)
otcnn.com
IVP Secures $1.25 million in Financing
By Peter Lim
Published by OTCNN.com
10/05/2000 11:05 AM EST
IVP Technology Corporation (OTCBB: TALL), has secured a $1.25 million equity line with a private financier. The financing will
allow IVP to close contracts currently in negotiation and to execute its business plan, a company spokesperson said. The company did
not disclose the identity of the financier.
“The money that we’re raising will be sufficient to get us over the hump in terms of starting a very aggressive marketing campaign and
putting employees in place to really speed up the process,” said IVP president John Maxwell. “Up until now we’ve been held back
by a lack of adequate funding.”
The company never had a problem attracting investors per se, Maxwell said, although identifying the right investors has been somewhat
of a challenge. “There are many groups who have wanted to provide financing for us,” Maxwell said. “But we have to be very careful
as to who we get money from and we have to protect shareholder interest.”
IVP Technology markets and distributes PowerAudit by virtue of a software distribution agreement with the developer, Orchestral
Corporation. PowerAudit is an enterprise-oriented, remote market-intelligence, data collection, management and reporting system. It
enables timely decision-making by quickly supplying useable data through widely available hardware, the Internet and intuitive,
easy-to-use software. The PowerAudit competitive edge, Maxwell said, comes from both the software's architecture and its ability to
be customized for utilization by virtually any industry. “You can have three companies, for instance, in the same industry and each one
of them could program it specific to their own needs,” Maxwell said.
The United States, Switzerland and countries of the European Union represent IVP’s target market for PowerAudit. Although Europe
has a huge potential customer base for the PowerAudit since Europeans are generally tech savvy, more so than Americans, marketing
the product there has presented certain challenges for the company, Maxwell said.
“In North America, because the cultures are essentially the same between Canada and the United States, we can set up marketing
centrally here,” Maxwell said. “In Europe we would probably have to have different people in place in the different countries because
the languages are different and the way business is done is different from country to country. But the European market is much more
advanced in terms of technology. The hand-held wireless area is way ahead of the United States at this point in time. They’re very
familiar with the technology and (PowerAudit) has had very good acceptance in Europe thus far.
“Our immediate task is to identify the management teams who are going to be running (the operations) for us. That’s part of the game
plan, part of what the reserves of the financing is being used for; to put people in place on the frontlines in Europe and North America.”
Obtaining a listing on a national exchange has been a goal for the Ontario-based company since its inception, Maxwell said. “The
(OTC) bulletin board is a terrible place to be, with the market maker environment,” he said. “Obviously we’re trying to get the financial
house in order, trying to sell the product and make the income statement very strong; that’s where the long-term security comes from.
The game plan is to get off the bulletin board and on the small cap NASDAQ as soon as possible.”
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