OREM, Utah, Aug 19,
2004 (BUSINESS WIRE) -- iMergent, Inc., (AMEX: IIG
- News)
a leading provider of eCommerce and software for small businesses and
entrepreneurs, announced a new two year, $5 million line of credit with
Bank One. The new line of credit replaces its previous credit facility
with Zions First National Bank and will provide accessible working capital
to support the company's growth initiatives. The agreement allows iMergent
to borrow up to $5 million at LIBOR plus 2 percent.
Rob Lewis, chief financial officer, stated, "This new line of credit
with Bank One bolsters our financial position and allows iMergent to
pursue our growth opportunities at a reduced cost of capital. The line
of credit's improved terms over our previous line of credit offers us
a more attractive financing platform which is not contingent upon accounts
receivable."
About iMergent
iMergent provides eCommerce solutions to entrepreneurs and small businesses
enabling them to market and sell their business product or idea via
the Internet. Headquartered in Orem, Utah the company sells its proprietary
StoresOnline software and training services, helping users build a successful
Internet strategy to market products, accept online orders, analyze
marketing performance, and manage pricing and customers. In addition
to software, iMergent offers site development, web hosting, marketing
and mentoring products. iMergent typically reaches its target audience
through a concentrated direct marketing effort to fill Preview Sessions,
in which a StoresOnline expert reviews the product opportunities and
costs. These sessions lead to a follow-up Workshop Conference, where
product and technology experts train potential users on the software
and encourage them to make purchases.
iMergent, Inc. and StoresOnline are trademarks of iMergent, Inc.
Statements made in this press release that are not historical in nature
constitute forward-looking statements within the meaning of the Safe
Harbor Provision of the Private Securities Litigation Reform Act of
1995. Such statements are based on the current expectations and beliefs
of the management of iMergent and are subject to a number of factors
and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Such risks and
uncertainties include, without limitation, the Company's continued ability
to increase revenue; continue to increase earnings; continue to expand
business internationally; continue to increase the number of workshops;
continue to decrease bad debt expense; continue to maintain/increase
training events; the success of the MIT relationship; the continued
ability to use loans to increase liquidity and capital resources; the
continued acceptance of new customer services practices; the Company's
ability to attract and retain key management and other personnel. For
a more detailed discussion of factors that affect iMergent's operating
results, please refer to its SEC reports including its most recent Form
10-K and Form 10-Q. The Company undertakes no obligation to update this
forward-looking information. SOURCE: iMergent, Inc.
