InvestSource Inc.: IVI Communications Announces Intention to Complete a 400 for 1 Reverse Stock Split Plan

Jul 07, 2008 (M2 PRESSWIRE via COMTEX) -- VM | Quote | Chart | News | PowerRating -- Stocks in the News: IVI Communications, Inc. (OTCBB:IVCM), Internet Initiative Japan Inc. (NASDAQ: IIJI), Mobile TeleSystems OJSC (NYSE: MBT), Virgin Mobile USA, Inc. (NYSE:VM)

Jul 03, 2008 -- IVI Communications, Inc. (OTCBB:IVCM) announced today that it has filed a Preliminary Information Statement with the Securities and Exchange Commission. The Preliminary Information Statement states IVI's intention to complete a 400 for 1 reverse stock split. Titan Global Holdings, Inc.recently acquired all of IVI's outstanding Series A and B Preferred Stock (the "Preferred Stock") from the former holders. The Preferred Stock includes the right to vote a majority of IVI's shares for any action to be taken by shareholders. Titan has cast its support for the reverse stock split pursuant to which 399,999,991 currently outstanding shares of Common Stock (the "Old Shares") would be automatically converted into approximately 1,000,000 shares of Common Stock (the "New Shares"). The New Shares issued pursuant to the reverse stock split will be fully paid and non-assessable. All New Shares will have the same par value, voting rights and other rights as Old Shares. Stockholders of the Company do not have preemptive rights to acquire additional shares of Common Stock, which may be issued. The reverse stock split will not alter any shareholder's percentage interest in the Company's equity, except to the extent that the reverse stock split results in any of the Company's shareholders owning a fractional share. No fractional shares shall be issued. Any shareholder, who beneficially owns a fractional share of the Company's Common Stock after the reverse stock split, will receive an additional share in lieu of such fractional share. In addition, commencing with the effective date of the reverse stock split, all outstanding options entitling the holders thereof to purchase shares of the Company's Common Stock will entitle such holders to receive, upon exercise of their options, one-four hundredth of the number of shares of the Company's Common Stock which such holders may purchase upon exercise of their options. In addition, commencing on the effective date of the reverse stock split, the exercise price of all outstanding options will be increased by 400. There are no current plans with respect to any specific changes in IVI's business, however, it is contemplated that Titan will assist IVI in acquiring or developing business operations in complimentary communication businesses.

Jul 03, 2008 -- Internet Initiative Japan Inc. (NASDAQ: IIJI), one of Japan's leading Internet access and comprehensive network solutions providers, today announced the August 29 launch of IIJ Mobile Access Service Type DS, a new option for the high-speed mobile data communications service for corporate customers -- IIJ Mobile -- that allows fixed IP addresses. IIJ Mobile is provided through the Mobile Virtual Network Operator (MVNO) method, and provides high-speed data communications services to corporate customers. Until now, the two types of IIJ Mobile Access Service -- Type D compatible with NTT DoCoMo's FOMA, and Type E compatible with EMOBILE -- both used global IP addresses that were dynamically assigned. The new IIJ Mobile Access Service Type DS works with NTT DoCoMo's FOMA and uses a fixed global IP address for each access line. With a fixed global IP address on a mobile access line, communications devices such as routers can be paired up with the IIJ Mobile Access Service Type DS to provide more advance applications and flexibility than dynamically assigned IP addresses, such as the creation of wireless VPNs. In comparison with wired access lines, mobile broadband allows easier and faster expansion of the network, which will enable new and varied corporate network configurations. IIJ will continue to support corporate mobile broadband networks.

July 03, 2008 -- Mobile TeleSystems OJSC (NYSE: MBT), the largest mobile phone operator in Russia and the CIS, and MySpace Russia, the local version of the leading international social network, today announced a partnership to develop and promote solutions for the subscribers of MTS Russia. Under the terms of the partnership, MTS and MySpace will develop an exclusive service for the subscribers of MTS Russia that will become part of MTS' WAP-portal. In addition, the companies are planning to launch an MTS-branded community on MySpace Russia website to drive usage and support the partnership. "We are looking forward to introducing over 60 million customers of MTS in Russia, the largest subscriber base in the country, to the leading social network, MySpace," said Pavel Roytberg, product and service development director of MTS Russia. Roytberg continued, "This partnership fits well into our strategy of providing Web 2.0 and social networking capabilities for our subscribers. The new service from MySpace on our WAP-portal will also allow us to explore innovative marketing initiatives, such as viral marketing. The pairing of the leading mobile and social networking brands will bring increased portability and greater access to customers of both MTS and MySpace and enrich the mobile user experience." Aleksandr Turkot, general director of MySpace Russia, noted, "MySpace is known for its networking and creative solutions which revolutionized social networking. It is a place for everyone - whether you are a global celebrity or an aspiring artist. "This partnership with MTS is a key strategic move for MySpace, allowing us to give Russian customers unprecedented access to networking via their mobile phones. Our brands are built on providing high quality communication and networking experience and our partnership will allow us to develop many new exciting services for our customers."

Jul 03, 2008 -- Virgin Mobile USA, Inc. (NYSE:VM), a leading national provider of prepaid and hybrid wireless plans, today signed a services agreement for Information Technology operations and new applications development with IBM. The agreement will allow Virgin Mobile USA to enhance its technology capabilities and improve its product portfolio for new and existing customers by affording the Company access to IBM's significant telecommunications industry experience and state-of-the-art IT resources. Under the terms of the new services agreement, IBM will begin transitioning Virgin Mobile USA's existing IT infrastructure and application suite into its own environment. Simultaneously and continuing over the course of the next five years, IBM will work with Virgin Mobile USA to develop new and differentiated wireless applications and service offerings. Specifically, IBM will provide Virgin Mobile USA with data center outsourcing and application management services including maintenance and development. The Company expects the transition of its existing IT infrastructure and application suite to IBM to be completed by December 31, 2008. "We have built our success as a customer-centric innovator, and always seek to enhance our product and service offerings," said Jonathan Marchbank, Chief Operations Officer, Virgin Mobile USA. "These steps will continue to raise the standards in the prepaid market overall and allow us to stay current with, and ahead of, trends and evolutions in the overall wireless industry. With over 5 million customers, the scale we've achieved now puts us in a position to take advantage of IBM's proven best practices, scope and unparalleled experience in running and building IT infrastructure."

Market Wrap for July 3rd

After opening appreciably higher, the stock market closed Thursday just above the unchanged mark as participants traded listlessly in a shortened session just ahead of the Independence Day holiday. The Nasdaq, however, finished with a loss as weakness in the semiconductor industry weighed on the index. Notably, the latest batch of economic data also failed to spur buying interest. The stock market fell to just above the 1250 mark shortly after opening bell, but was able to climb into positive ground amid broad-based gains. Still, the advance was limited as leadership failed to emerge. Action in the largest sector, technology (+0.1%), was offset by energy (-0.5%), which is the second-largest economic sector. While economic news did little to kick start buying, it did not turn participants away. The unemployment rate for June came in at 5.5%, exceeding the 5.4% rate that was expected. Nonfarm payrolls fell by 62,000 during the month, unchanged from the prior month, but a bit more than economists expected. Jobless claims for the week ending June 28 totaled 404,000, reflecting a loosening labor market. The week's claims topped the 385,000 claims economists expected and were up from the prior week. Importantly, the data are consistent with a modestly growing economy and are not far enough from expectations to alter such an economic outlook. As a side note, the European Central Bank increased its benchmark lending rate 25 basis points to 4.25%, but comments by the ECB's president led participants to believe another rate hike is unlikely for the time being. That notion helped the dollar gain strength, as indicated by the dollar index, which advanced 1%. The dollar's advance helped cut into oil's gains; crude futures had come close to $146 per barrel in electronic trading earlier in the morning.

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