HOUSTON, Nov. 8 /PRNewswire/ -- iVG / iVGCorp, (OTC Bulletin Board: ITVI),
www.ivgcorp.com announced today that its newly formed PEO subsidiary forecasts
year 2000 revenues to exceed $1 Billion based on the acquisition of Simplified
Employment Services, Inc. by iVG.
iVG President Mr. Elorian Landers stated, "iVG has entered into a letter
of Intent to acquire Simplified Employment Services, Inc. of Detroit, MI.
Simplified Employment Services, Inc. that has over $850 Million in projected
1999 revenues. iVG forecasts $1 Billion plus in revenues to be consolidated
in our new PEO subsidiary company for the year 2000. This is just the
beginning as we continue to evaluate other potential PEO acquisition
candidates and continue to roll up Professional Employment Organizations into
the newly formed iVG Subsidiary. This type of acquisition is consistent with
the iVG business model and overall strategy of being at the forefront of the
most cutting edge industries of today."
iVG (www.iVGcorp.com), identifies, acquires and develops early stage
revenue generating businesses that have profits and assets, or those companies
that have a clear plan to achieve significant revenues, profits and assets,
and to assist these companies by providing net enabling technologies to
improve their overall operating efficiencies. iVG also provides iVG
shareholders with a one stock investment in a diversified basket of early
stage revenue generating companies while providing portfolio companies access
to the publicly traded securities and net enabling technologies of iVG.
iVG assists its portfolio companies to leverage their core businesses by
providing financial guidance, business model creation and implementation,
access to equity sources, access to e-commerce enabling technologies, Internet
management; and create long-term value in iVG securities through the ownership
and appreciation of stock in profitable portfolio companies that are
developed, operated and positioned for initial public offerings by iVG. The
company is headquartered in Houston, TX.
Safe Harbor Statement Under the Private Securities Litigation Reform Act
of 1995:
Statements in this press release that are not historical facts, including
statements about plans and expectations regarding businesses and
opportunities, demand and acceptance of new and existing businesses, capital
resources, and future financial condition and results are forward-looking.
Forward-looking statements involve risks and uncertainties, which may cause
actual results in future periods to differ materially and adversely from those
expressed. These uncertainties and risks include changing consumer
preferences, lack of success of new businesses, loss of customers,
competition, and other factors discussed from time to time in filings with the
Securities and Exchange Commission.
Contact: Richard Twardowski of iVGCorp, 713-596-9313, or
richard@iVGcorp.com.
SOURCE iVGCorp
-0- 11/08/2000
/CONTACT: Richard Twardowski of iVGCorp, 713-596-9313, or
richard@iVGcorp.com/
/Web site: ivgcorp.com / |
