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IntelliReady Announces Results of Its 2000 Start-up Year Operations/Receipt of Additional Debt Financing.


Business Editors

AURORA, Colo.--(BUSINESS WIRE)--March 30, 2001

IntelliReady(TM) (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
: IRDI IRDI Industrial Research and Development Institute
IRDI Inter Domain Interface
), Inc., a residential technology integrator and broadband services See broadband and broadband service provider.  provider, today announced that it has been successful in its start-up year, having positioned itself to take advantage of the convergence of technology and bundled digital services in the home and small business. Broadband is the integration of high-speed Internet See broadband.  access, telephony and television as well as other digital services through networks.

For the year ended December 31, 2000, IntelliReady had total revenues of $512,429 and total expenses of $1,775,924. This resulted in a net loss of $1,263,495 for the year ended December 31, 2000, and a net loss of $0.13 per share. Additionally, IntelliReady announced that it has received additional debt financing Debt Financing

When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay
 in the amount of approximately $500,000. These funds were received after closing the first round of financing in the first quarter of 2001. On March 6, 2001, the Company announced that it had completed $3,000,000 of first- round funding. This funding consisted of $2.3 million of equity and $700,000 of debt, which was raised during the second half of 2000, and the first quarter of 2001. With the additional $500,000 of funding, IntelliReady has successfully raised a total of $3,500,000 to date. These monies have been used to fund the start-up of IntelliReady.

The Chief Executive Officer of IntelliReady Inc., Scott Campbell, stated: "The loss was smaller than expected. The company has been aggressive in establishing our business model, yet prudent in our use of capital and other resources. We continue to build an infrastructure to support the anticipated growth of future operations. We are pleased with the accomplishments of our first seven months of operations, particularly when compared to the operations of similar start-ups in technology-based industries. The Company has positioned itself to rapidly grow its operations through acquisitions and increased sales efforts and anticipates this plan will provide a clear path to profitability."

About IntelliReady

IntelliReady, Inc. is a full-service home technology and services provider. Through its network of builder partners, the company installs technology that integrates digital products and services in the home and the small office. Broadband is the integration of high-speed Internet access, telephony and television as well as other digital services through networks providing more choices to consumers. Technology companies like Cisco, Sony and AT&T have spent billions providing the infrastructure to deliver these services, primarily to commercial applications. It was recently reported by Reuter's newswire that during a March 23rd visit to Silicon Valley, Commerce Secretary Donald Evans expressed concern regarding the lack of broadband access See broadband and wireless broadband. . Furthermore, the Yankee Group (the Yankee Group, Boston, MA, www.yankeegroup.com) A major market research, analysis and consulting firm founded in 1970 by Howard Anderson. It provides general consulting and strategic planning in the computer and communications field.  estimates that 24 million homes will be networked in three years, with 160 million residential Internet users by 2003. IDC further estimates that 80 million Internet appliances will be shipped by the year 2004. IntelliReady's business strategy taps these markets by wiring homes, installing integrated consumer electronic systems and delivering bundled digital services like high-speed Internet access, residential telephone service, cable or satellite TV and home security monitoring all on a single monthly bill.

IntelliReady's current service offerings include installation of high-capacity structured wiring, whole-house entertainment systems, security and surveillance systems, advanced telephone systems, environmental and lighting controls, and computer networks. With headquarters in Aurora, Colorado The City of Aurora is the third most populous city in the State of Colorado and the 59th most populous city in the United States.[5] The municipality is split between Arapahoe County and Adams County, with a small portion lying in Douglas County. , IntelliReady plans to expand its operations into multiple cities and states in the high growth areas of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . For more information on IntelliReady's products and services call 303-755-2400 or visit the company's Web site at www.intelliready.com.

The statements included in this press release concerning predictions of economic performance and managements plans and objectives constitute 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.
 made pursuant to the subject of the Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 provisions created by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings; downturns in the Company's primary markets; disruptions in the Company's operations from acts of God or extended maintenance; transportation difficulties and the unavailability of financing to complete management's plans and objectives.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Mar 30, 2001
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