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Innovatier Emerges From Chapter 11, Ships In Excess of 1MM Cards 3Q09 Lakeland, Fla. October 7, 2009 – Innovatier announced the confirmation of its Plan of Reorganization and emergence from Chapter 11 bankruptcy proceedings effective September 23, 2009 pursuant to court order. All creditors will be paid 100% of the amount owed at the time of the initial filing, February 3, 2009. During the reorganization, Innovatier was able to continue the implementation of its business plan to deliver new innovative cards to the market place, and as in 2Q09, again delivered in excess of 1MM powered and gift cards in 3Q09. “Once again, our accomplishment over the last two quarters validates the capabilities of our high speed manufacturing line” stated Robert Singleton, President. “During this start up phase we have been able to exceed our targeted manufacturing rates and efficiencies”. “Our customers and majority of our creditors provided us the time and opportunity to prove ourselves” stated Lawrence J. Keim, CFO. “We have attained profitability and positive EBITDA within a very short time and expect continued growth throughout 4Q09 and 2010”. Innovatier’s Reaction Injection Embedding® technology encapsulates active electronic components into unique and reliable packaging solutions while offering the integration of its ProTeCut® technology to deliver maximum component protection. The company’s simple and scalable manufacturing processes are easy and inexpensive compared to more conventional methods. The processes have the capability of realizing 3-dimensional shapes such as exact-parameter cards, circular wrist bracelets, or other desired forms. Innovatier’s Reaction Injection Embedding® technology encapsulates active electronic components into unique and reliable packaging solutions while offering the integration of its ProTeCut® technology to deliver maximum component protection. The company’s simple and scalable manufacturing processes are easy and inexpensive compared to more conventional methods. In addition, the processes have the capability of realizing any 3-dimensional shape such as exact-parameter cards, circular wrist bracelets, or other desired forms.
Innovatier – Endless Possibilities Limited Only by The Imagination™ This release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause Innovatier, Inc's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. Innovatier, Inc. assumes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the industries in which it operates, and changes in domestic and international market conditions, and foreign exchange rates. For more information: ### |
