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Non-Tech : The WOLF PACK -- Ignore unavailable to you. Want to Upgrade?

To: Mike Perras who wrote (1101)	7/29/1999 12:04:00 PM
From: Boolish	Respond to of 1692

Good little article on the OTC BB. A move to clean up the OTC Bulletin Board by requiring the small companies quoted there to disclose basic financial information has left the companies scrambling to comply, and investors in a bind. The first phase of the plan, which is being implemented by the National Association of Securities Dealers over the next year, begins July 1. Companies that fail to comply will be dopped from the OTC Bulletin Board, and the NASD says that so far, two-thirds of the 94 companies facing the first deadline don't meet the eligibility requirements. By the time the plan is fully implemented, half the 6,700 OTC Bulletin Board companies could be booted. (The NASD also operates the Nasdaq Stock Market.) A place on the OTC Bulletin Board is important because the service -- along with its updated stock quotes readily available on the Internet -- has helped many otherwise unknown companies attract legions of shareholders and achieve heavy trading volume. Without the OTC Bulletin Board, price quotes would be harder to find,and volume -- and potentially stock prices -- could drop dramatically. Many OTC Bulletin Board companies find themselves in a difficult position: trying to calm investors worried over the new eligibility rules, while at the same time facing what regulators say is an insurmountable challenge to file the paperwork and win approval before July 1. Many investors didn't know American Benefits Group was facing eligibility trouble until some postings on an Internet message board noted that an "E" had been appended to the company's stock symbol -- a designation used by the NASD to identify companies that are within 30 days of being dropped. The company, which was once involved in viatical settlements but now says it operates an Internet shopping mall and several mining operations in Madagascar, issued a press release June 4 assuring investors that it was "committed to file the documents on June 11" and maiintain its place on the OTC Bulletin Board. (Viatical settlements let terminally ill individuals collect a portion of their life-insurance benefits before they die.) But as of Friday, the Deerfield Beach, Fla., company still hadn't filed with the U.S. Securities and Exchange Commission. "Actually, we said the soonest we could do it was June 11," Jerry G. Mikolajczyk, American's chief executive, said in an interview. "At this time we won't be able to comment on the exact date. Our official stance is no comment on everything." But even if American Benefits Group had mailed the filings when promised, it still would have been dropped from the OTC Bulletin Board. That's because the SEC gets a 60-day comment period before the filings go into effect, and a company's eligibility could be delayed significantly if the SEC has questions about the filing -- facts that some OTC companies failed to mention when they assured investors they would meet the deadlines. "It's not realistic to think that in 30 days or even 60 days these companies could get the nessary filings together," says Adena Friedman, director of trading and market services for Nasdaq. "If these companies didn't start working on this several months ago, there's no way they're going to make it." Ms. Friedman admits that investors could have difficulty unloading stock in companies that are dropped from the OTC Bulletin Board. "We've been telling people this was happening since January, and I think the companies bear the responsibility here for what happens in the trading of their stock," she says. Many of the companies that become ineligible will likely move to the Pink Sheets, a daily publication of quotations distributed by National Quotation Bureau Inc., New York. NQB plans to launch an online, real-time version of the Pink Sheets in mid-July, but those quotes will be accessible only on a subscription basis to brokers and market makers, and won't be directly vailable to investors. Companies are being phased into the new rules alphabetically by ticker symbol. Only 94 securities are up for review for July 1 (65 of those are currently scheduled to drop off), but in later months as many as 700 securities will be reviewed at once. The new rules require companies to file a Form 10 with the SEC that contains audited financial information, and to file quarterly financial statements. The Internet has helped turn the OTC Bulletin Board into a popular playground for investors looking for big returns. Lured by cheap prices -- many shares trade for less than $1 -- and volatility that can send a company soaring 500% in a single day, investors have flocked to the service, where average daily volume has tripled since 1995 (volume on the larger Nasdaq doubled over the same period). But because many of the most popular OTC Bulletin Board stocks don't report to the SEC, investors have been left to get information on such securities from often dubious sources, including paid stock promoters. And the OTC Bulletin Board has also proved to be fertile ground for investment scams -- almost all of the Internet stock-fraud cases brought by the SEC have involved companies quoted on the OTC Bulletin Board. "These are companies you never would have heard of before the Internet, and in many cases that would have been a good thing," says William McDonald, director of enforcement the California Department of Corporations, the state securities regulator. "I hope the public understands that these delisted securities create a road map that we're going to use to find fraudulent companies." To be sure, SEC filings can be burdensome for small companies. Access Power, a Jacksonville, Fla., provider of telephone service over the Internet, is among the companies that were certified "eligible" in this first round. The company began filing with the SEC before the new rule went into effect and estimates it spent about $20,000 to complete its filings -- and that was with minimal use of outside accountants and lawyers. "It probably took us four or five months to get things together at first, including about four weeks just to get the financials audited," says Glenn Smith, Access Power's chief executive. The company now has one full-time employee -- out of its staff of 10 --who does nothing but deal with SEC filings. "It's a strain, yes," says Mr. Smith. "But if you're a public company, you owe this to your investors, period.

To: Mike Perras who wrote (1101)	7/31/1999 2:23:00 PM
From: Mike Perras	Read Replies (1) \| Respond to of 1692

What a true gem of a company this may well become At these prices, float or no float, it's a steal IMO. IVOC - REPOST FROM RAGING BULL Look at the products and technology these two companies brought together into iVoice.com, look at the companies that are interested AND doing business with them (including DoD), look at the people working with/for the Company, i.e., Mr. Giordano (retired DoD Division Chief), Mr. Pudlo (former VP of Computer Associates), realize both companies came together with positive revenues and have picked up additional revenues ("adding to our already strong second quarter revenues") I think you'll find a great company. Looking to do $100 million within 2 years (listen to the audio) RECENT NEWS RELEASES iVoice.com, Inc. Introduces Universal Messaging 1) ABERDEEN, N.J., July 30 /PRNewswire/ -- iVoice.com, Inc. (OTC Bulletin Board: IVOC - news) has developed and has begun marketing its revolutionary ''Universal Inbox'' application for their Windows NT auto attendant/voice mail system and their Windows NT Interactive Voice Response (IVR) system. How important is this? Just ask Bill Gates, Microsoft's Chairman. Speaking a week ago Thursday at the Company's annual financial analysts meeting in Seattle, the theme of Gates presentation was the necessity to create the paperless office ''Collaboration with coworkers will change with better and fewer meetings, more work done in teams and less time wasted.'' biz.yahoo.com 2) iVoice.Com, Inc. Launches National Marketing of Free Medical Outdial Patient Reminder Software ABERDEEN, N.J., July 21 /PRNewswire/ -- iVoice.Com, Inc. (OTC Bulletin Board: IVOC - news) has introduced its Windows 95, 98 or Windows NT-based OUTDIAL PATIENT REMINDER software and will begin to offer it FREE to any physician, chiropractor, physical therapist or dentist in exchange for switching their telephone company to one of the top providers of local, regional and long distance services. This $1,500.00 package includes a complete Graphical User Interface and works on any existing PC. biz.yahoo.com 3) iVoice.com to Open First Satellite Office ABERDEEN, N.J., July 13 /PRNewswire/ -- iVoice.com, Inc. (OTC Bulletin Board: IVOC - news) announced today that as part of its expansion program, it is opening its first ''satellite'' sales office in Northern New Jersey. Two Telemarketers and four Sales Reps will work out of the offices at 69 Wesley Street, South Hackensack, New Jersey, sharing the facilities with Communications Research, Inc., the manufacturer of the Visual EZ product line. biz.yahoo.com 4) iVoice.com, Inc. Launches User-Friendly Internet Access Tool ABERDEEN, N.J., June 25 /PRNewswire/ -- iVoice.com, Inc. (OTC Bulletin Board: IVOC - news) iVoice.com's new, fully-featured MICROSOFT Windows NT based Interactive Voice Response (IVR) system with built-in application generator, has now been enhanced to combine an INTERNET ACCESS TOOL which can be connected to its IVR SYSTEM, or run standalone, with a Graphical User Interface. biz.yahoo.com 5) Dover Air Force Base Awards Contract to iVoice.com, Inc. ABERDEEN, N.J., June 21 /PRNewswire/ -- iVoice.com, Inc. (OTC Bulletin Board: IVOC - news) announced today that it has been awarded a contract to install its Windows NT Voice Processing platform at the Dover Air Force Base in Dover, Delaware. This system has been designed to handle a heavy volume of incoming and outgoing calls simultaneously. biz.yahoo.com 6) iVoice.com, Inc. and Telrad Announce INSIGHT IVR Certification ABERDEEN, N.J., June 11 /PRNewswire/ -- iVoice.com, Inc. (OTC Bulletin Board: IVOC - news), a world leader in developing Windows NT, PC-Based IVR systems and Computer-Telephony Integration (CTI) solutions, announced today that its INSIGHT line of Interactive Voice Response systems has been certified by Telrad Telecommunications, Inc. via Telrad's Developers' Alliance Program. Telrad is Israel's leading corporation in the telecommunications field, and is an owned subsidiary of Koor Industries Ltd. (80%) (NYSE: KOR - news) -- Israel's largest industrial conglomerate and Nortel (20%) (NYSE: NT - news) -- Global resource for digital Network solutions and services. biz.yahoo.com 7) iVoice.com (OTC Bulletin Board: IVOC) Receives Contract from Nortel Networks Corp. ABERDEEN, N.J., June 2 /PRNewswire/ -- iVoice.com (OTC Bulletin Board: IVOC - news) formerly Visual Telephone International (OTC Bulletin Board: VTPI - news), announced today that it has received a contract from Nortel Networks Corp. (NYSE: NT - news) to install an Interactive Voice Response (IVR) system at their headquarters in Richardson, Texas. Nortel is one of the world's largest telecommunication companies. biz.yahoo.com 8) IVOICE.COM, INC. TO OFFER FREE VOICE MAIL SYSTEMS ABERDEEN, N.J., May 27 /PRNewswire/ -- iVoice.Com, Inc. (OTC Bulletin Board: VTPI) has kicked off a special promotion to offer a free VM4 Voice Mail system in exchange for switching local, regional and long distance to 7.9 cents per minute calling plans. In an unprecedented move, iVoice has taken on the "10 cent per minute" companies by providing a Vision 2001 (TM) high-end Voice Mail system that delivers the power of full Voice Mail, Auto Attendant, Audiotext, Spell by Name, Directory Look-Up, 400 Mailboxes, Beeper Notification, Message Waiting Lights, Plug and Play to Phone Systems, 100 Hours Storage, 4 Ports, Wall Mountable, modem and Personalized Greetings. host.cnbc.com 9) iVOICE.COM (OTC BULLETIN BOARD: VTPI) HIRES FORMER VICE PRESIDENT OF COMPUTER ASSOCIATES INTERNATIONAL (NYSE: CA) ABERDEEN, N.J., May 24 /PRNewswire/ -- Initializing its Management Expansion Program, iVoice.com has hired Leo Pudlo as its new Vice President of Operations. Mr. Pudlo's vast experience most recently includes 10 years of consulting in the telephone and computer industry. biz.yahoo.com 10) VISUAL TELEPHONE INTERNATIONAL, INC. Completes Merger With iVOICE.COM And Receives Contract Award With AUTOMATIC DATA PROCESSING ABERDEEN, N.J., May 21 /PRNewswire/ -- Visual Telephone International, Inc. (OTC Bulletin Board: VTPI - news) and INTERNATIONAL VOICE TECHNOLOGIES, CORP. have jointly announced that their merger has been consummated. The Company also announced that it has entered into an initial contract with AUTOMATIC DATA PROCESSING, the largest payroll processing company in the world. iVoice.Com also reported the receipt of an initial contract with AUTOMATIC DATA PROCESSING (ADP) (NYSE: AUD - news). Jerome Mahoney, President, stated, ''We expect to become ADP's primary vendor for specialized Voice and Speech applications in the coming years. This is an enormous boost to our already strong second quarter revenues.'' biz.yahoo.com 11) VISUAL TELEPHONE INTERNATIONAL, INC. ANNOUNCES THE SIGNING OF A DEFINITIVE AGREEMENT TO MERGE WITH INTERNATIONAL VOICE TECHNOLOGIES, CORP. HACKENSACK, N.J., May 17 /PRNewswire/ -- In a major announcement today, VISUAL TELEPHONE INTERNATIONAL, INC. has signed an agreement to merge with an innovative voice technology company located in Aberdeen, New Jersey. host.cnbc.com A MUST LISTEN AUDIO INTERVIEW WITH IVOC'S CEO AND CFO wallstreetreporter.com BLOOMBERG IVOC DD SITE quote.bloomberg.com SHARE INFO (Approx.): Authorized - 75 million Outstanding - 50 mill. Float - 35 mill. WEB SITE and CONTACT INFO: ivoice.com information@ivoice.com vistele@aol.com iVoice.com, Inc. 1230 Highway 34, Aberdeen, NJ 07747 Tel: (732)441-7700 Fax: (732)441-9895 Jerry Mahoney, IVOC President Joel Beagelman, IVOC CFO Leo Pudlo, IVOC Vice President of Operations -------------------------------------------------------------------------------------------------------------------------------- BTW - IVOC has 20 active Market Makers in their stock, a very good sign! otcbb.com REPOST FROM RAGING BULL By: longhorns - Thursday, 29 Jul 1999 at 8:36 PM EDT - Post # of 14836 I posted this already but i have revised it somewhat to take into account the "constructive criticism" heard from some people on this board (im being sarcastic). Some of the numbers i kept and others I changed: The real questions are the following: 1) What is the estimated total market for IVOC's products/services? (sales market) I welcome your thoughts on this. I think IVOC is going global as can be seen in its relations w/ Nortel, ADP, Telrad, and DOD. I have therefore used the global sales market as our "target sales" 2) What is going to be IVOC's "cut" of that estimated market?..In other words, what is the expected penetration or market share? Any thoughts on this. I think .5% is reasonable although in dollar terms its huge. Any thoughts? 3) How much of every sales dollar will trickle to the bottom line? (profit margin). I think 10% is pretty conservative after considering that we are in the highest of high tech industries. I think Kmart has like 5% margin...so 10%, in my opinion, is a joke!! 4) And lastly, what is the expected multiple that the market will assign to IVOC's earnings stream?..Now that it has a ".com" in its name who knows?..But in general the more risky and uncertain the cashflows then the lower the multiple given investors dislike for unpredictable cashflows. Sorry for the lecture, I am just trying to focus a little more on the valuation aspect of the company. Notice how i used the word "expected" in most of my points above. Another thing we need is total shares outstanding...There has been an INCREDIBLE amount of talk concerning the SHARES OUTSTANDING. I will use 75 million to take the worst case scenario (im doing this to play "worst case scenario") This, however, is not true according to the CFO who clearly stated that there are about 50 million shares out. Why do i do this? I want to show everybody that IVOC is a "BUY" even after taking into account the criticism of others!!!! ********************************************** Valuing IVOC Worldwide Sales 20,000,000,000 IVOC's cut .5% IVOC's Sales 100,000,000 Profit Margin 10% Net Income 10,000,000 Multiple 20 Market Cap 200,000,000 Shares Outs. 75,000,000 *Price $2.66 Current Price $0.33 You can see how conservative i have been: .5% market share, 10% PM, and 20 PE....you can obviously play "What-if Queries" all night long. But this is a good way to begin sizing up the company's downside risk by using very conservative numbers. If anyone has some better info. on any of these assumptions lets hear them. The .5% is a joke!! Very coservative!! 10% profit margin??? in this industry?? Will IVOC be able to grasp at least 10% profit margin in the long run, which is what the market uses to discount cash flows ---LONG RUN CASH FLOWS!!!! Again, 10% is a joke! This is technology not retail (Walmart, K-mart, etc.) Why did I use 75 million shares outstanding? Because the bashers are yelling dilution!!! Of course they have not shown me proof of this. ______________________________________________________________________________________