SOURCE: ActiveCore Technologies, Inc.

March 07, 2007 12:06 ET

ActiveCore Uses Equity to Reduce Liabilities & Launches Major Sales, Marketing and Acquisition Initiatives

TORONTO -- (MARKET WIRE) -- March 7, 2007 --ActiveCore Technologies, Inc. (OTCBB: ATVE), a Company that now operates as a payment technology solution provider, has filed an S8 that will convert 1.0 million USD of debt into equity and has signed several sales and marketing contracts to accelerate the Company's market entry strategy for both the ePocket and CyBux Cash Card product sets. The debt conversion program also positions the Company to secure the funding required to enable the completion of the recently announced planned acquisition of Collective Point of Sale (CollectivePOS) as well as provide sufficient working capital to support the rollout of the Company's complete range of payment solutions into both the North American and European markets.

Mr. Hamilton, ActiveCore CEO, stated, "The recent completion of both the ePocket and CyBux acquisitions has provided the Company with a comprehensive range of payment solutions, which when combined with the proposed acquisition of CollectivePOS will allow the company to address both the online world of Internet transactions and the more traditional 'Bricks and Mortar' businesses. In order to achieve this end goal it has been necessary to use equity to remove debt to facilitate the closure of the planned CollectivePOS acquisition and to hire consultants that can accelerate the go to market strategy for the company."

Mr. Hamilton went on to say that, "The Company would have preferred not to use common shares for the purposes stated above but the long delay in the planned funding for the acquisition of ePocket from the Tower Group PLC(Tower) left us no alternative. Therefore, I wanted to inform shareholders that an S8 has been filed with the SEC and that common shares have been issued to further reduce Company debt and to immediately expand our Sales and Marketing efforts."

Mr. Hamilton also stated that, "Despite the long delay with Tower based funding the Companies have continued to work together on a revised Business Plan and financing strategy for ePocket. Tower believes that this renewed initiative will result in the release of additional funds to be delivered to GSPS/ePocket over the next 6 months."

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 software platform that allows us to better support our payment technology clients.

About Collective Point of Sale Solutions Ltd. (

Established in 2001, Collective Point of Sale Solutions Ltd. (CollectivePOS) is a leading Canadian provider of debit & credit payment processing services and secure point-of-sale solutions. The Company services more than 9,000 small and medium sized businesses and processes more than $1 billion dollars annually. CollectivePOS offers payment processing solutions for dial-up, high-speed internet, e-commerce and mobile environments in both Canadian & US funds. CollectivePOS is based in Toronto, Canada.

About ePocket Digital Coin Technolgy (

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 real cash, except there are no coins, bills, or plastic cards -- it is entirely electronic. Just like real 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.

About CyBux Cash Card Company (

CyBux has created an integrated online payment system across Canada involving most of the major banks and credit unions. This network encompasses thousands of financial institutions and provides a highly secure account-based payment system for use on the Internet. Consumers do not have to give up any credit information in order to accomplish a payment and can set-up an account and begin using the system with simply providing an email account. The system is low cost, making it ideal for micro-payments and a replacement for existing online payment methods and subscription systems.

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.

Contact Information