Science & Technology
Science and Technology
Science and Technology
Fri, March 20, 2009
Thu, March 19, 2009 I Green Innovations, Inc.: I GREEN INNOVATIONS, INC. Eliminates the Convertible Feature Into Common Stock From Its Preferred S
MATAWAN, NJ--(Marketwire - March 19, 2009) - iVoice Technology, Inc., d/b/a I GREEN INNOVATIONS, Inc. (
Jerry Mahoney, Chairman of I GREEN INNOVATIONS, said, "We have shown that we are committed to maximizing shareholder value for I Green Innovations by removing the last vestige of any potentially dilutive instrument from our balance sheet. We were able to accomplish this by showing our Preferred Stock holders the Company's potential for the future. Upon review, they agreed to the removal of the convertible feature from the Preferred Stock. This eliminates a massive overhang on the Common Stock, as the Preferred Stock can no longer have an effect upon the number of outstanding Common Stock shares and cannot be dilutive to Common Stock shareholders."
Mahoney continued, "With our rapidly increasing distribution of our products, our stock buy-back program, and the potential in the market for 'Green' opportunities, we believe the Company is in a great position to deliver on its prospects. We are excited about the future, and look forward to making additional announcements on further developments in the coming weeks."
About B Green Innovations:
B Green Innovations, Inc. ("B Green"), a wholly owned subsidiary of I GREEN INNOVATIONS, a Matawan, and New Jersey-based corporation, is dedicated to becoming a "Green" technology company, focused on acquiring and identifying promising technologies that address environmental issues. The first technology will be used to create new products from recycled tire rubber. Recently, we announced that we had filed a new patent application for a process it described as "paver blocks and patio blocks made from recycled tire crumb rubber." B Green Innovations, Inc. has also filed 3 additional patents applications on products using 100% recycled tires.
Certain information included in this press release, may contain forward-looking statements about our current and expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the Securities and Exchange Commission, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
For more information on I GREEN INNOVATIONS, please visit
