Intelligent Business Systems Group International |
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Company description::
News Release
For Immediate Release:
March 18, 2004
IBSG International Announces Appointment of New Board Members and Senior Management to Facilitate Corporate Growth
CELEBRATION, Fla., Mar 18, 2004 - IBSG International Inc. (IGII), a digital commerce solution company, is pleased to announce that it has appointed new management and board members to facilitate the fast paced growth of the company. The company is currently expanding market share in its core market of Small Business Development Centers. IBSG, a wholly owned subsidiary of IBSG International Inc., is in its fifth straight year of profitable operations, selling enterprise solutions that greatly enhance the operating efficiency and create revenue for its customers.
Mr. Geoffrey Birch of the UK and Mr. Robert Jolly have been appointed to the Board of Directors, as independent directors. "Mr. Birch and Mr. Jolly brings a wealth of knowledge and experience to assist in managing the rapid growth of the company," stated Dr. Michael Rivers.
Mr. Birch built an international pharmaceutical company over a 25-year period and sold his company to the Pfizer Pharmaceutical Corporation in the early 1990s. Mr. Birch currently has been serving on the board of directors for several European Venture capital firms. Mr. Birch, through 3 of these firms, has provided substantial capital for the continued growth and operation of the company. "I am very pleased to be a part of such an exciting corporation. The exponential growth potential of this company and the possible expansion into the European markets, which I will be directly involved in, is tremendous," stated Mr. Birch.
Mr. Jolly is a Certified Public Accountant and has been serving as the Chief Financial Officer of a large multi-million dollar corporation in Florida for the last 20 years. He is responsible for overseeing the overall fiscal management of the corporation and has been involved with overseeing the merger and acquisitions for the company. Mr. Jolly is also directly responsible for overseeing the audits for the company and presenting the annual report to the board. Mr. Jolly will serve IBSG as it head of the audit committee. "With the type of revenue growth that the Company is generating through the signing of new contracts and the extension of existing contracts, the Company is poised for long term growth in its expanding marketplace. Our committee will ensure that the Company has the management and financial controls in place to be able to handle this significant growth," stated Mr. Jolly.
The Company is also pleased to announce the following additions to its senior management team. As part of the company's announced business development expansion efforts, the company appointed Ms. Crystal Stacks as VP of Business Development and Dr. Stephen L. Huber as IT Director. IBSG, Inc. announces the addition of Crystal A. Stacks, Vice President of Business Development. In this role, Ms. Stacks will be responsible for the development of market positioning, partnering strategies, and capturing new contracting opportunities across IBSG's vertical and horizontal markets.
Ms. Stacks brings to IBSG's management team a balanced blend of expertise in strategic partnering and technology marketing. A recognized leader in marketing and corporate development, Crystal's expertise spans a range of managerial and operational roles for professional service firms, financial institutions, non-profit organizations, and governmental entities. In her last position as Vice President of Sales for a large engineering firm, she increased sales over a 3 year period of time in excess of $8 million dollars or 140% increase in sales. Ms. Stacks holds a BA in Psychology from Columbia College in Columbia, Missouri.
Mr. Huber is an advanced information technology innovator and strategic leader for major software development programs and computing architectures using leading edge Object-Oriented (OO) languages, including JAVA, VB.net, Visual Studio.net, C++ and C# to integrate applications into Internet, Intranet and extranet client environments. His commercial experience has included leadership in OO projects for Lockheed Martin, Walt Disney Company, London Fog and Florida Hospital. Federal clients have included USDA, EPA, SERI, USPS and Walter Reed Army Hospital. Dr. Huber holds a BS in Applied Economic Statistics, an MS in Management Information Systems and a Ph.D. in Computer Information Sciences. He is also an adjunct professor for Webster Graduate School where he teaches Networking & Telecommunications, Database Management, Distributed Computing Systems, Project Management for Software Development and MIS Strategic Applications.
About IBSG:
IBSG, a wholly owned subsidiary of IBSG International Inc., commenced business in 1997, and is now in its fifth straight year of profitable operations selling enterprise solutions that greatly enhance the operating efficiency and create revenue for State Small Business Development Centers, business associations (e.g. Chambers of Commerce) and Fortune 1000 corporations through the licensing of its unique turnkey digital service center software, which provides a broad range of digital budgetary, administrative and commercial services (B2B, e-commerce, government to business and enterprise business services) on a single platform known as the NetPool Data System (copyrighted).
As a software provider, system integrator and Application Service Provider, IBSG generates its revenue from license sales, system modifications, system support, and a percentage of monthly customer fees. The typical IBSG license agreement has a five-year term, but, being updated on an annual basis, is almost invariably renewed upon expiration (to date the Company has had only one licensee not renew, which was due to the expiry of the licensee's contract with their client).
IBSG's revenues have grown significantly from $517,954 in 1998 to $5.3 million in 2001. Despite a slower economy and a move into a new vertical market, IBSG's 2002 revenues were approximately $4.5 million, with EBITDA of about $1.95 million, and the Company expects to the soon report 2003 results with an increase in gross revenues and net profits of approximately 20% over its 2002 results.
Forward-Looking Statements:
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. Investor ideas (Econ Investor Relations, Inc.) are paid investor relations experts. The company pays Investor Ideas $3,000 per month and 10,000 shares per month with a 30 day cancellation clause. The Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release, the Company will appropriately inform the public.
SOURCE: Intellectual Business Systems Group International Inc.
Contact:
ECON Investor Relations, Inc.
Dawn Van Zant, 800-665-0411
dvanzant@investorideas.com
or
Trevor Ruehs, 866-730-1151
truehs@investorideas.com
Web Site: http://www.InvestorIdeas.com
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About Redbows Ltd
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Rob Roberts
Redbows Ltd - Registered in England and Wales 5185125 - VAT 850 5646 22
Registered Office: Merlin Court, 24 Bryntirion Drive, Prestatyn LL19 9NU, United Kingdom Tel: 0845 8386 368 or +44-(0)1745 85 25 20 - Fax: 0845 8386 369
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