International Dispensing Corporation Sells Beverage Carafe; Secures Long-Term Funding.NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- International Dispensing Corporation (IDC) (IDND IDND Indianapolis Discovery Network for Dementia .PK) announced today it has sold the Beverage Carafe (BC) to LBP LBP
In currencies, this is the abbreviation for the Lebanese Pound.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. , the market leader in bulk coffee to-go and maker of the Box of Joe. IDC had developed the BC hoping it would bridge short-term operating cash flow Operating cash flow
Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. needs stemming from the long lead times to validate and commercialize its aseptic aseptic /asep·tic/ (-tik) free from infection or septic material.
Of, relating to, or characterized by asepsis. tap. While successful in penetrating a number of end users, including Wegman's, 7-Eleven, Sheetz, Home Depot, and White Hen, the BC's ramp up Ramp Up
To increase a company's operations in anticipation of increased demand.
A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product.
See also: Demand, Economies of Scale proved longer than expected, with manufacturing, inventory, and sales demands more appropriate for a larger staffed company. Marketing the BC consumed management time and resources that the company believes are better spent on The Answer[TM].
Selling the BC assets enables the company to cut its annual operating burn by 50%, sharpen focus on its core business, and efficiently execute its IP business model and branding campaign. For more information on recent marketing developments, please log on to IDC's redesigned website: www.idcdispensing.com.
Concurrently with the sale of the BC, IDC has successfully negotiated a $2.73 million equity capital raise, the majority of which comes from individuals within the Cardinal Investment Company, based in Dallas, TX. The first installment was received in November; the second is due on December 1, with the remainder due on January 20, 2007. The investment enables IDC to: 1) complete its purchase of the tooling and automatic assembly equipment necessary to make The Answer[TM] cost effective and to handle anticipated sales volume, and 2) launch the Don't Call It a Tap[TM]C*Call it The Answer[TM] campaign. With the remainder of the funds, the company believes it will become self-sustainable. "After a lengthy due diligence, we appreciate this vote of confidence by a very savvy and helpful group of investors," said IDC's 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. Greg Abbott. "We are determined that this be our last equity infusion. Based on our leaner structure and assessment of market opportunities, we have good reason to be hopeful."
This release may contain forward-looking statements within the meaning of 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 reflect IDC's current views about future events. Risks, which may cause actual results to differ materially, may include, but are not limited to: the lack of acceptance of IDC's products by potential customers; IDC's failure to continue to develop its product line or to attract and retain customers; its failure to anticipate and adapt to developing markets and the presence of competition, including potential competitors that are larger than IDC, with greater financial, technical, and marketing resources.