SOURCE: ActiveCore Technologies, Inc.

October 31, 2006 18:00 ET

ActiveCore Reduces Debt and Solidifies Payment Technology Direction

TORONTO -- (MARKET WIRE) -- October 31, 2006 -- ActiveCore Technologies, Inc. (OTCBB: ATVE), a Company that now operates as a payment technology solution provider, has filed an S8 that will convert 1.7 million USD of debt into equity and position the Company to execute an aggressive payment technology market entry strategy.

Peter Hamilton, ActiveCore CEO, stated, "The significant restructuring required to convert ActiveCore into a pure play payment technology solution provider has resulted in a reduction of staff, facilities and existing revenue. These changes have resulted in the crystallization of direct labor, legal and consulting costs that must be dealt with now to position the Company for success in the payment technology market. Therefore, I felt that it was appropriate to inform shareholders that an S8 has been filed and that common shares have been issued to convert the costs associated with this restructuring into equity. This reduction of debt will also allow the use of funds from new sources to be used to support the growth of ActiveCore in the payment technology market."

ActiveCore/GSPS Status

The Company has made a commitment to focus all of its resources and energy on becoming a successful payment technology solution provider. The planned acquisition of GSPS, the UK parent company of ePocket, has recently been approved by the Boards of both GSPS and ActiveCore and the Companies expect to sign a binding Purchase and Sale agreement by the end of October 2006. Completion of the GSPS acquisition will provide ActiveCore with a very exciting next-generation payment technology solution for the world wide web.

ePocket Marketing Update

GSPS has completed Version 1.1 of the ePocket product and is now ready to implement the technology. ActiveCore has supported GSPS in its marketing efforts and has consulting agreements in place with both North American and European parties to assist GSPS in finding a strategic partner that is willing to invest both time and money to implement the ePocket technology. With several initiatives underway, GSPS believes they will secure such a partner/customer in the very near future.


Mr. Hamilton stated: "The significant debt reduction achieved as a result of the S8 removes a huge burden from the Company and will allow the new management team that will result from the merger with GSPS to focus its energy and spending on generating success in the payment technology market rather than cleaning up past debts."

As stated in a previous press release: "Our initial investment in ePocket was predicated on the belief that ActiveCore would benefit, not only from an incredible investment in a revolutionary payment technology, but more importantly, would create a strategic relationship with ePocket, who would inevitably require an integration specialist for their technology. We are now at the point where the acquisition of GSPS/ePocket will complete our move into the payment solution provider marketplace and allow us to grow into a successful public company."

This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit ActiveCore IR Hub located at Alternatively, investors can e-mail AGORA Investor Relations directly at

About ActiveCore Technologies, Inc. (

ActiveCore Technologies, Inc. now operates as a payment technology solution provider. Our products encompass web portals, 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, MDI Solutions. The Corporate Disclosure and Messaging Division of ActiveCore operates under the trade names C Comm Network Corporation, DisclosurePlus, and ActiveCast. ActiveCore services clients in healthcare, financial services, government, and manufacturing worldwide.

About GSPS/ePocket Inc. (

GSPS/ePocket brings true electronic cash to the world for the first time, making purchases over the Internet as secure and simple as handing cash to a clerk in a store. ePocket enables banks to provide their customers with the ability to withdraw electronic cash in any currency from their regular deposit accounts, and send this electronic cash to merchants or other consumers in order to make payments. Cash created electronically is just like cash, except there are no coins, bills, or plastic cards -- it is entirely electronic. Just like cash, electronic cash does not require the identification of a payer. This provides privacy for consumers, and eliminates fraud and identity theft, making ePocket the most cost-effective payment solution for Internet commerce. ePocket payments cost merchants less than any other payment technologies. Their extraordinary cost-effectiveness enables merchants to profitably accept very small payments of just one or two dollars. In contrast to other payment schemes, consumers do not have to open additional accounts with a payment intermediary. Consumers do not have to give up any identity or credit information in order to accomplish a payment. This makes ePocket payments completely secure and provides complete privacy for consumers.

Statements contained in this news release regarding ActiveCore Technologies, Inc. (formerly IVP Technology) and planned events are forward-looking statements, 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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