ActiveCore Announces Preliminary Q1 Results.TORONTO -- ActiveCore Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ATVE), a Company that operates a group of subsidiaries and divisions in the US and Canada that offer a Smart Enterprise Suite of products, today announced preliminary financial results for the quarter ended March 31, 2006. The Company expects to file its Quarterly Report on Form 10-QSB during the extension period which it will file for on May 15, 2006. Preliminary Results For the quarter ended March 31, 2006, the Company announced that it expects to report revenues in the range of $1.4 million - $1.7 million. From a profitability perspective, the Company expects to report a net loss in the range of $1.25 million to $1.5 million. The Company cautioned, however, that the above results are preliminary and are not yet finalized with the Company's auditors. AcitveCore Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Peter Hamilton Peter Hamilton may refer to:
Restructuring Initiatives The Company announced that in anticipation of its change in strategy, it has already begun to restructure its operations and that this process will continue over the next several weeks. This restructuring will allow the Company to better position itself to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the opportunity that is developing and will impact all businesses and functions within the organization. Efrem Ainsley, CFO See Chief Financial Officer. stated, "Obviously, the first quarter's loss puts added financial pressure on the organization. While we go through a transition phase with respect to the Company's strategy and direction, it is imperative that we continue to reduce our operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. as much as possible." Acquisition Update The Company has previously discussed its intention to pursue an acquisition on the messaging side of its business. The Company has now concluded that reaching a satisfactory financing arrangement on this contemplated transaction is not feasible. As a result, the successful completion of such a transaction is not likely, and that new strategic alternatives will take it in different directions. Peter Hamilton added, "I know that our shareholders are eager for further details about what direction ActiveCore will take, and we are equally eager to get to the point where these plans can be shared. However, at this time any disclosure would not be appropriate. That said, be assured that as soon as we are able we will be back in touch with our shareholders." This press release is available on the company's official online investor relations Investor relations The process by which the corporation communicates with its investors. site for investor commentary, feedback and questions. Investors are asked to visit ActiveCore IR Hub located at http://www.Agoracom.com/IR/ActiveCore. About ActiveCore Technologies, Inc. (www.ActiveCore.com) ActiveCore Technologies, Inc., operates a group of subsidiaries and divisions in the U.S. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems. Our products encompass web portals See portal. , enterprise middleware, mobile data access, data management and system migration applications. The Systems Integration & Modernization Division of ActiveCore operates under the trade names of CRATOS CRATOS Centro di Ricerca Sulle Applicazioni della Telematica alle Organizzazioni e Alla Società (Italy) , MDI (1) (Multiple Document Interface) A Windows function that allows an application to display and lets the user work with more than one document at the same time. Solutions and DisclosurePlus. The Corporate Disclosure and Messaging Division of ActiveCore operates under the trade names C Comm Network Corporation, DisclosurePlus and ActiveCast. ActiveCore services clients in health care, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , government and manufacturing worldwide. Statements contained in this news release regarding ActiveCore Technologies, Inc. formerly IVP IVP abbr. intravenous pyelogram IVP (Intravenous pyelogram) The use of a dye, injected into the veins, used to locate kidney stones. Also used to determine the anatomy of the urinary system. Technology and planned events are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Risk Factors" in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 4, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above. |
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