IBZT
iBIZ Technology Corp. Files Annual Report 10-KSB for 2003
February 13, 2004 6:25:00 PM ET
PHOENIX, Feb. 13 /PRNewswire-FirstCall/ -- Phoenix, Arizona, iBIZ Technology Corp. (OTC Bulletin Board: IBZT) today filed its annual report 10-KSB for the year ended October 31, 2003.
Commenting on the annual report, Ken Schilling, iBIZ President and Chief Executive Officer stated, "Since the beginning of fiscal year 2003, our team has been actively involved in redefining our product offering as well as our distribution venues. Fiscal year 2003 became a pivotal year in all aspects. We released several new ground breaking products including our revolutionary virtual keyboard, which has garnered national media attention. The company has also restructured its debt and placed its entire focus on bringing iBIZ Technology Corp. to a new level of leadership in the handheld computer accessory industry.
"Late in our fiscal period beginning September 1, 2003, iBIZ has seen a dramatic improvement in sales and orders for our products. New retailers have emerged and continue to demonstrate interest with new orders to place our products in their retail venues.
"Throughout fiscal 2003 and through today, we have been retiring both convertible debt as well as accounts payable. Today, iBIZ has retired all convertible debt with the exception of one debt holder, which has been entirely restructured affording manageability to our capital structure."
Schilling further commented, "today iBIZ Technology Corp. has emerged into a company that can continue to grow through innovations in technology, increasing revenue and a manageable debt structure. Steering the company from this point forward will be an exciting time for all of us and we look forward to the future."
About iBIZ Technology:
iBIZ is a leading manufacturer and distributor of accessories for personal digital assistant (PDA) and hand-held devices. iBIZ is recognized for innovative, high-quality, competitively priced products available through major retailers. For more information on iBIZ products and services, please visit www.ibizpda.com , email sales@ibizcorp.com , or call 1-800 234-0707.
Press Contact:
Belinda Banks/S&S Public Relations/718 320 4898 - Belinda@sspr.com
Investor Relations Contact:
Cormac Glynn, CEOcast, Inc./ 212 732 4300 - cg@ceocast.com
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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