TORONTO, June 27, 2005 (PRIMEZONE) -- ActiveCore Technologies, Inc. (OTCBB:ATVE), a Company that operates a group of subsidiaries and divisions in the U.S., U.K. and Canada that offer a Smart Enterprise Suite of products, today announced an update on the status of its financial results for its fiscal quarter ended March 31, 2005.
The Company announced that resolution of certain issues related to the purchase accounting for its acquisition of Cratos Technology Solutions Inc has been reached. This matter has involved discussion and analysis of certain technical accounting pronouncements, and as a result the Company expects to file its Form 10-Q for its March quarter later this week. The Company has been in communication with the NASDAQ with respect to its late filing.
Peter Hamilton, Chairman and CEO of ActiveCore stated: "We appreciate the patience of our shareholder group as we finalize the results for our first quarter. Though our preference would certainly have been to be filed by this time, the Company has placed a priority on accurate financial reporting, and this quarter that has necessitated some additional time. Going forward, our full expectations are that delays of this nature will not occur."
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 http://www.Agoracom.com/IR/ActiveCore Alternatively, investors can e-mail AGORA Investor Relations directly at ATVE@Agoracom.com.
About ActiveCore Technologies, Inc. (www.ActiveCore.com)
ActiveCore Technologies, Inc., operates a group of subsidiaries and divisions in the U.S., U.K. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. The Systems Integration & Modernization Division of ActiveCore operates under the trade names of CRATOS, MDI Solutions and TwinCentric. The Corporate Disclosure and Messaging Division of ActiveCore operates under the trade names C Comm Network Corporation, DisclosurePlus and ActiveCast. ActiveCore services clients in health care, financial services, government and manufacturing worldwide.
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.