IBSG INTERNATIONAL INC Financials

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IBSG INTERNATIONAL INC Files SEC form 8-K/A, Non-Reliance on Previous Financials, Audits or Interim Review

Show all filings for IBSG INTERNATIONAL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K/A for IBSG INTERNATIONAL INC 2-Feb-2009Non-Reliance on Previous Financials, Audits or Interim Review Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" ...
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Levi & Korsinsky, LLP Files Class Action Lawsuit Against IBSG International, Inc. -- IBIN

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IBSG International Announces First European Project: Hungary Provides Approval to Purchase License for Trade Platform BizWorld Pro System

CELEBRATION, FL--(MARKET WIRE)--Jan 5, 2009 -- IBSG International, Inc. (OTC BB:IBIN.OB - News), a holding company for four technology and software subsidiaries, announced today that its BizWorld Pro© digital commerce platform has been selected by the Hungarian Ministry of Economic Affairs to serve as the digital commerce service center for its small-, micro- and mid-size enterprise [SME] development program. The value of the license is approximately US$7.7 million over 4 years and the total possible projected subscribers over 5 million. Eszter Rumbold-Molnar, First Secretary Economic Affairs, said, "We strongly believe that the SME sector is the key to Finland's future commercial growth. Offering a fully integrated platform that will assist SMEs to be more competitive on the international market has been a goal of the government. To be able to provide the foundation, through the BizWorld Pro platform, ensures long term success. The European Union (EU) has allocated over E26BB specifically for this purpose. With global markets facing significant challenges the need to implement platform's such as BizWorld is essential to ensure continued growth in this vital sector."Dr. Michael Rivers, CEO of IBSG International, said, "We are honored to be included by Hungary's government as part of the nation's trade strategy. This latest contract demonstrates how we are achieving expansion throughout the world. Most countries have already been focused on trade acceleration and competitiveness within the SME sectors. Procurement and o...
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IBSG International Announces Appointment of CFO

CELEBRATION, FL--(MARKET WIRE)--Jan 5, 2009 -- IBSG International, Inc. (OTC BB:IBIN.OB - News), a holding company for four technology and software subsidiaries, announced today that it has selected Ms. Renata Sirota as the Company's full time CFO. This is an important step in the expansion of the Company. Ms. Sirota has an impressive biography. Since 2007, Ms. Sirota has served as a principal of Tatum, LLC, and an executive services firm. From 1997 through 2007, Ms. Sirota served in the roles of Director of Financial Planning and Analysis, Director of Operations and Financial Analysis and Director of Budget and Financial Analysis of SI International, Inc., a technology company. Ms. Sirota has a Master of Business Administration from Johns Hopkins University and a Bachelor of Science in Accounting from Susquehanna University. Ms. Sirota brings a wealth of public company experience. She has managed IPO teams, been involved with multiple mergers and acquisitions and has an extensive background in money management with a particular strength in IT companies.Dr. Michael Rivers, CEO of IBSG International, said, "We are very pleased that Renata has agreed to join our company. She has the perfect background for our business and comes with a wealth of experience. We have spoken on more than one occasion over the past year about our intentions to expand our management team, particularly a full time CFO. The CFO position was the first critical position to fill as we continue to expand. Renata will bring a wealth of experience particul...
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IBSG International Announces Expansion Into East African Community

CELEBRATION, FL--(MARKET WIRE)--Dec 10, 2008 -- IBSG International, Inc. (the "Company") (OTC BB:IBIN.OB - News) announced today that it will begin the expansion of its BizWorld Pro commerce platform into the additional other four member countries of the Eastern African Community ("EAC"). License fees for the remaining members of the EAC are estimated to be approximately $2.8 million per member over the next 4 years. Management believes, but cannot provide assurances, that the Company will receive $5 million in first year license fees in 2009. This figure does not reflect possible subscriptions among the estimated additional 4 million small-mid size businesses. The Company is currently working with Kenya's Ministry of Trade and Industry on a contract that has already recorded over $2 million of revenues. The contract will continue to focus on support of the Small-Mid Size Enterprises (SMMEs) and facilitate trade among the EAC countries. Additionally the project will include creating greater opportunity for all EAC-based businesses through the platform's Bid Management Center, which will centralize and standardized procurement. The EAC has agreed to establish a free trade zone among the EAC members and to create a more unified commerce region in Africa, positioning itself as a substantial economic force on the African continent.Dr. Michael Rivers, CEO of IBSG International, said, "This opportunity came through the former Kenyan Permanent Secretary for the Ministry and recently appointed Minister of Trade for the EAC, Mr. Dav...
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IBSG International, Inc. Reports Three Month Results

CELEBRATION, FL--(MARKET WIRE)--Nov 19, 2008 -- IBSG International, Inc. (the "Company") (OTC BB:IBIN.OB - News), a developer and marketer of BizWorld Pro©, a comprehensive, Internet-based Commerce Platform that operates as a digital service centre for government ministry-departments and business enterprises, announced today its financial results for the nine and three months ending September 30, 2008.Revenue increased approximately $2.8 million, or 27%, from approximately $10.1 million for the nine months ended September 30, 2007 to approximately $12.9 million for the same period in 2008. Net income before taxes decreased approximately $567,000, or 10%, from approximately $5.5 million for the nine months ended September 30, 2007 to approximately $5.0 million for the same period in 2008. Net income after taxes decreased approximately $246,000, or 7%, from approximately $3.4 million, or $0.43 per diluted earnings per share for the nine months ended September 30, 2007 to approximately $3.1 million or $0.29 per fully diluted earnings per share for the same period in 2008. The number of weighted average shares outstanding on a fully diluted basis, used in the calculation of earnings per share, for the nine months ended September 30, 2008 was 10,694,051 as compared to 7,740,306 for the same period of 2007. The decrease was due to taxes, an increase in professional services including any commissions and an increase in the average weighted stock number.Net cash provided by operating activities for the nine months ended September 30, 2008 was $6.3 million as compared to net cash used in operating activities of $493,000 for th...
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