Science & Technology
Science and Technology
Science and Technology
Thu, November 12, 2009 Updated Letter to Shareholders on B GREEN INNOVATIONS, INC.
MATAWAN, NJ--(Marketwire - November 12, 2009) - iVoice Technology, Inc., d/b/a I Green Innovations, Inc. (
Dear I Green Innovations Shareholder:
Over the past few weeks, many of you have contacted the company for an update on our progress. B Green Innovations, Inc. ("B Green"), a wholly owned subsidiary of I Green, "Go Green" mission from its inception, is to create a "Green" company for the development of solutions to eliminate waste from the world's environment. B Green offers consumers a realistic and necessary solution to the problem of waste around the world. We believe that to truly have an impact on the planet, one must be committed to the environment and seek out environmentally-friendly products.
Update Sales & Marketing:
B Green Innovations, Inc. signed a distribution agreement with Whirlpool Corporation to sell VibeAway®, an anti-vibration pad made from 100% recycled tires. Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion.
B Green Innovations, Inc. has completed a reseller agreement with RC Willey Inc., owned by the investment giant Warren Buffett of Berkshire Hathaway, to sell its VibeAway® anti vibration pads made from 100% recycled tires. RC Willey operates 14 branches in Utah, Idaho, Nevada and California.
B Green Innovations, Inc. has completed a reseller agreement with Reliable Parts to sell its VibeAway® anti-vibration pads made from 100% recycled tires. Reliable Parts operates over 30 branches in the US and Canada.
B Green Innovations, Inc., and Johnstone Supply, a recognized national leader in the HVAC industry will distribute our EcoPod® anti-vibration pads made from 100% recycled tires.
The VibeAway® is currently being tested and evaluated for distribution by one of the largest big box retailers in the country and also by several of largest manufacturers of washing machines in the world.
I Green Innovations is Debt Free:
The Company has instituted a number of actions by removing the ability of holders of convertible debentures and preferred stock to convert these securities into Common Stock thereby eliminating the further dilution of the Common Stock and the shareholders' position in the Company:
-- The Company filed an Information Statement to change the name of the corporation to B Green Innovations, Inc. by filing an amendment to the certificate of incorporation, and change trading symbol. Prior to changing its corporate name to B Green Innovations, Inc., iVoice Technology will merge its wholly owned subsidiary, B Green Innovations, Inc., into itself and thereafter, will adopt the former name of its wholly owned subsidiary, B Green Innovations, Inc. The official name and symbol change will be the week of November 16th. -- By combining the companies together we can review various strategic alternatives and are negotiating with several potential candidates about a transaction that would enable B Green to expand its revenue and asset base. -- The Company has adopted a Share Buyback Program (the "Program"). Under the terms of the Program, the Board of Directors has authorized the management of the Company to make open market purchases of up to $75,000 from time to time during the next twelve months
Patent Filings & Technology Developments:
The Company will continue its research and development to generate new and improved product offerings while strengthening its intellectual property portfolio. The company has filed 2 new patents and plans to file additional patents in the near future.
New Products:
-- B Green has commenced prototype development for products made from recycled plastic and from compressed flat composite recycled bottle sheets that retain the visible display of the recycled bottles.
All of the milestones referenced above have been accomplished within the past sixteen months. With our rapidly increasing manufacturing capacities, distribution of our products, our stock buy-back program, the Company being debt free and the potential in the market for "Green" opportunities, we believe the Company is in a great position to deliver on its prospects, I would like to thank you for your continued support.
Sincerely,
Jerry Mahoney President and Chief Executive Officer
Certain information included in this letter to shareholders, 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.
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