IBSG International Announces Agreement with Taylor Wessing for NYSE Euronext-Alternext Exchange in Europe
December 20 2007 - 11:31AM
Business Wire
IBSG International, Inc., (the �Company�), (OTC BB: IBIN) announced
today that it has reached agreement with the European law firm
Taylor Wessing to file its application for the New York Stock
Exchange�s Euronext-Alternext Exchange, headquartered in Paris.
Both parties expect to file the application with the exchange in
early 2008. The NYSE, Euronext directors have indicated that IBSGI
will be the first US Company admitted onto the Euronext-Alternext
exchange. �This is exactly the type of opportunity the Company
seeks to create for its investors. The Euronext-Alternext exchange
has out-performed other European exchanges over the last 3 years.
With the continued expansion of our international business, we will
now provide an opportunity for foreign investors to participate in
the Company�s success, which provides potential greater liquidity
for all of our shareholders. Taylor Wessing is one of the foremost
firms in Paris with a proven track record for success. We look
forward to working with them,� stated Dr. Michael Rivers, CEO of
IBSG International. �IBSG International is an exciting, rapid
growth company and exactly the type of company the
Euronext-Alternext exchange is looking for. We are very pleased to
be part of this history making transaction,� stated Allain de
Foucaud, Partner of Taylor Wessing. IBSGI also announced that is
has nearly achieved its capitalization goals for 2007 and closed
$300,000 financing of common stock and warrants with CantraSwiss,
as a segment of its financing. This is part of the Company�s 2007
capitalization strategy discussed during the end of the 3rd quarter
conference call. The Company will focus the capital on expansion to
meet the demands of new business and increase its cash reserves to
secure larger projects such as entire national development for
Small to Mid-size Enterprises domestically and abroad. Pursuant to
this financing, the Company sold 200,000 shares of common stock
together with three-year warrants to purchase 50,000 shares of
common stock to an institutional investor. The warrants have an
exercise price of $2.00 per share. The Company has agreed to
register these shares for resale pursuant to the terms of a
customary registration rights agreement. About Taylor-Wessing
Taylor Wessing offers a full service to its clients offering a
powerful source of legal support for commercial organizations doing
business in Europe. They advise major corporations, medium-sized
companies, financial and public institutions as well as growing
enterprises. They offer specialist services in all aspects of
national and international commercial law, in particular,
corporate/M&A, various European exchanges, tax, finance and
projects. About IBSG International, Inc. (www.ibsgi.com) IBSG
International, Inc. is a holding company for four technology and
software subsidiaries: Intelligent Business Systems Group, Inc.
(IBSG), a provider of turnkey digital service center software;
Secure Blue, Inc., a Sarbanes-Oxley and security software solution
provider; Intelligent Business Systems Development (IBSD), a
software development, maintenance and data storage company; and
IBSGI - UK, a consultant company focused on development of IT
projects for Governmental bodies and multinational corporations.
IBS Group offers enterprise solutions designed to enhance the
operating efficiency and create revenue for State Small Business
Development Centers, business associations (e.g., business
associations) and Fortune 1000 corporations by licensing its unique
turnkey digital service center software, which provides a broad
range of digital budgetary, administrative and commercial services
(B2B, e-commerce, government to business and enterprise business
services) on a single platform known as the BizWorldPro�. Secure
Blue, Inc. provides a robust economical Sarbanes-Oxley (SOX)
compliance and security software suite, Secure Blue SOX Pro. It is
targeted at small- and mid-cap public companies as well as private
companies requiring SOX compliance to enable them to continue
working with public companies. As software providers, system
integrators and Application Service Providers, IBS Group, Inc. and
Secure Blue, Inc. generate revenue from license sales, system
modifications, systems support and a percentage of monthly customer
fees. The typical IBS Group/Secure Blue license agreement has a
five-year term which is updated on an annual basis. IBS
Development, Inc. will provide ongoing support of International�s
other subsidiaries, IBS Group and Secure Blue. The company provides
development, system support and secure data storage, and will
maintain offices in the US and India, where its current offshore
development and support team is located. IBSGI - UK establishes IT
projects for various countries and multi-national corporations
around the world. IBSGI - UK has already introduced the BizWorldPro
platform to a number of countries and continues to provide
demonstrations of the system on an international scale. For
multinational corporations, the projects are normally recognized
offset program qualified and provide a required contractual
obligation of these corporations. IBSGI � UK maintains
relationships with various multinational corporations and operates
from centrally located offices in London. Safe Harbor
Forward-Looking Statements Except for historical information
contained herein, the statements in this release are
forward-looking statements that are made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995. The above information does not guarantee any successful
closing of new business. No assurances can be given that any
projections related to gross revenues or profit margins will be
realized. Forward-looking statements involve known and unknown
risks and uncertainties that may cause the companies� actual
results in future periods to differ materially from forecasted
results. Such risks and uncertainties include, but are not limited
to, market conditions, competitive factors, the ability to
successfully complete additional financings and other risks.
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