SOURCE: ActiveCore Technologies Inc.

December 20, 2006 08:30 ET

ActiveCore Technologies Inc. Files Form 10QSB, Resets the Company and Its Sights on the Electronic Payment Market

TORONTO -- (MARKET WIRE) -- December 20, 2006 -- ActiveCore Technologies Inc. (OTCBB: ATVE), a Company that now operates as a payment technology solution provider, has filed its 3rd quarter form 10QSB. This 10QSB reflects the restructuring costs and reduced revenues associated with the Company's move to the electronic payment industry.

Peter Hamilton, ActiveCore CEO, stated, "The significant restructuring required to convert ActiveCore into a pure play payment technology solution provider triggered the write off of certain Goodwill, Accounts Receivable and Fixed Assets and the discontinuance of MDI, Cratos and DisclosurePlus operations. These actions resulted in an initial decline in revenue and the creation of a significant loss in the 3rd quarter and on a year to date basis. I felt that it was appropriate to inform shareholders that the Company chose to take this aggressive approach so that ActiveCore could begin to re-brand and reposition itself without having to carry the baggage associated with its past."

ActiveCore/GSPS Status

The planned acquisition of GSPS, the UK parent company of ePocket, has entered into the final stage with shareholder consent being sought this week. A majority vote of the ActiveCore shareholders in favor of the GSPS acquisition is assured. This is the last requirement needed to complete the transaction. The issuance of the unregistered ActiveCore common shares to the GSPS shareholders will occur upon closing.

Mr. Hamilton went on to say, "Our transition to a payment technology company has been a long and challenging one. The past quarter has tested our resolve but we have remained committed to making the move to the payment technology space. We have made the necessary decisions and adjustments required to foster a fresh start for our business. As a result of these decisions, the Company will provide the new management team with an environment that promotes the future direction and positions the Company for success in the payment technology marketplace."

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. operates as a payment technology solution provider, primarily in the on-line payment market. Our products encompass a variety of payment technologies as well as our own integration tool kit and direct marketing messaging platform that allows us to better support our payment technology clients.

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. 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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