Message #7 From:
Stock News Bot Date: December 14, 2005 05:26:00 AM
IBDI News Interactive Brand Development, Inc. (IBDI) Relocating Corporate Headquarters and Saving $800k, Annually
DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--Dec. 14, 2005--Interactive Brand Development, Inc. (IBDI) (OTCBB:IBDI) and its subsidiary, Internet Billing Company, LLC (iBill) announced that it will be relocating its operations to more cost-efficient facilities in January, 2006. The move comes as part of an overall strategy to streamline the company's operating costs and continue toward its ultimate goal of returning the company to profitability. The company successfully negotiated an early termination of its present lease, which was originally for 10 years, at a cost of $76k per month.
"It's all part of our vision for the future," said Gary Spaniak, President of IBDI. "This should allow us to concentrate on fulfilling our outstanding obligations and forward with the process of turning this company around."
In July, 2004, when IBDI entered into contract negotiations to purchase iBill, the company's staff numbered nearly 280. Over the next six months the staff was drastically reduced. When IBDI took over management in March, 2005 the number of employees was further reduced to its present level of 60 people. It was no longer necessary for the company to occupy a 50,000 square foot space. The search began for a building that could house the new, more efficient team, and be able to facilitate the immense computer mainframes necessary to operate the business.
Another criterion for the new headquarters was location. iBill's management did not want to place any further undo strain on its staff by requiring anyone to commute a significantly longer distance. After several months, a match was made and a deal was struck. The new facilities are less than 4 miles from the present location, in Deerfield Beach.
Management believes that the relocation will have no ill effects on the timeliness of transactions and payouts. "Our credit card processing should continue seamlessly," said Steve Markley, IBDI's CEO. "Through management's implementation of newly adopted technology, iBill's clients should not expect any type of down-time or a diminished ability to provide excellent customer service, during or after the move."
About Interactive Brand Development, Inc:
Interactive Brand Development, Inc. (IBDI) is a media company that owns interests in online and offline media properties. IBDI processes online credit card payments and manages consumer databases through its wholly owned subsidiary; Internet Billing Company, LLC. IBDI owns a minority interest in Penthouse Media Group (PMG), publisher of Penthouse Magazine, a brand-driven global entertainment business founded in 1965 by Robert C. Guccione. PMG's flagship PENTHOUSE(TM) brand is one of the most recognized consumer brands in the world and is widely identified with premium entertainment for adult audiences. IBDI also has minority ownership of Radium Ventures (OTCBB:RDIU), owner of Interactive Television Networks, Inc., formerly XTV, a video over IP new media company that broadcasts video to standard television sets and operates a pay-TV on-demand network.
About iBill:
iBill (Internet Billing Company, LLC.) is the premier provider of turnkey e-commerce solutions for leading businesses around the world. The company, which was acquired by Interactive Brand Development (OTCBB:IBDI), is focused on enabling businesses to market and sell their products over the Internet, including online subscriptions. iBill also manages back-office functions including reporting, tracking and customer service. Its products are powered by technology that integrates online payment processing, fraud control, affiliate management and financial reporting and tracking.
This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Additional information concerning these statements and other important factors can be found within our filings with the Securities and Exchange Commission. Statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Given these uncertainties, the forward-looking statements discussed in this press release might not occur.
