-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DilEKksZJW4XTdEc2x5d9Qp7mpVC4slgVBNkFs2nEf0skyTW59zFtM7XBwLWHyUP DRMt9zFu1TemVQDhqjihTA== 0000950153-01-000067.txt : 20010123 0000950153-01-000067.hdr.sgml : 20010123 ACCESSION NUMBER: 0000950153-01-000067 CONFORMED SUBMISSION TYPE: POS EX PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20010119 EFFECTIVENESS DATE: 20010119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IBIZ TECHNOLOGY CORP CENTRAL INDEX KEY: 0001079893 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER TERMINALS [3575] IRS NUMBER: 860933890 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: POS EX SEC ACT: SEC FILE NUMBER: 333-34936 FILM NUMBER: 1511999 BUSINESS ADDRESS: STREET 1: 1919 WEST LONE CACTUS CITY: PHOENIX STATE: AZ ZIP: 85201 BUSINESS PHONE: 6239200 MAIL ADDRESS: STREET 1: 1919 WEST LONE CACTUS CITY: PHOENIX STATE: AZ ZIP: 85201 POS EX 1 p64473cposex.txt POS EX 1 SEC File No. 333-34936, Filed 4/17/2000 U. S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 POST-EFFECTIVE AMENDMENT NO. 1 FORM SB-2 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 iBIZ TECHNOLOGY CORP. (NAME OF SMALL BUSINESS ISSUER IN ITS CHARTER) FLORIDA 7379 86-0933890 (STATE OR JURISDICTION OF (PRIMARY STANDARD INDUSTRIAL (I.R.S. EMPLOYER INCORPORATION OR CLASSIFICATION CODE NUMBER) IDENTIFICATION NO.) ORGANIZATION) 1919 WEST LONE CACTUS DRIVE, PHOENIX, ARIZONA 85021, (623) 492-9200 ------------------------------------------------------------------- (ADDRESS AND TELEPHONE NUMBER OF PRINCIPAL EXECUTIVE OFFICES) 1919 WEST LONE CACTUS DRIVE, PHOENIX, ARIZONA 85021 --------------------------------------------------- (ADDRESS OF PRINCIPAL PLACE OF BUSINESS OR INTENDED PRINCIPAL PLACE OF BUSINESS) ROBERT L. LANE, LANE & EHRLICH, LTD - -------------------------------------------------------------------------------- 4001 N. THIRD ST., SUITE 400, PHOENIX, ARIZONA 85012-2065 (602) 264-4442 - -------------------------------------------------------------------------------- (NAME, ADDRESS AND TELEPHONE NUMBER OF AGENT FOR SERVICE) COPY TO: STEPHEN R. BOATWRIGHT, ESQ. DANIEL A. LARSON, ESQ. GAMMAGE & BURNHAM, PLC TWO NORTH CENTRAL AVENUE, 18TH FLOOR PHOENIX, ARIZONA 85004 (602) 256-0566 Approximate date of proposed sale to the public: June 17, 2000 If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. |_|______________ If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. |_|______________ If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. |_|______________ If delivery of the prospectus is expected to be made pursuant to Rule 434, please check the following box. |_|______________ 2 CALCULATION OF REGISTRATION FEE
- ------------------------------------------------------------------------------------------------------------- TITLE OF EACH CLASS OF SECURITIES TO Amount to be Proposed Proposed maximum Amount of BE REGISTERED registered(1) maximum aggregate registration offering price offering price fee per share - ------------------------------------------------------------------------------------------------------------- Common stock, $.001 par value 2,221,616(2) $1.21 (5) $2,688,155 (5) $709.67 - ------------------------------------------------------------------------------------------------------------- Common stock, $.001 par value 1,346,250(3) $1.21 (5) $1,628,963 (5) $430.04 - ------------------------------------------------------------------------------------------------------------- Common stock, $.001 par value 350,000(4) $1.21 (5) $423,500 (5) $111.80 - -------------------------------------------------------------------------------------------------------------
(1) Represents the shares of common stock being registered for resale by the selling securityholders. (2) Pursuant to a registration rights agreement between us and a selling securityholder, the number of shares represents 200% of the maximum number of shares which would be issuable as of April 7, 2000 upon conversion of one of our seven percent convertible debentures. Pursuant to Rule 416, the shares of common stock offered hereby also include such presently indeterminate number of shares of common stock as shall be issued by us to the selling securityholder upon conversion of the debentures. That number of shares is subject to adjustment under anti-dilution provisions included in the debentures covering the additional issuance of shares by iBIZ resulting from stock splits, stock dividends or similar transactions. This presentation is not intended to constitute a prediction as to the future market price of the common stock or as to the number of shares of common stock issuable upon conversion of the debentures. (3) Pursuant to a registration rights agreement among us and a selling securityholder, the number of shares includes 200% of the maximum number of shares which would be issuable as of the date of filing this registration statement upon exercise of a warrant to purchase 375,000 shares of common stock. Pursuant to Rule 416, the shares of common stock offered hereby also include such presently indeterminate number of shares of common stock as shall be issued by us to the selling securityholder upon exercise of the warrants. That number of shares is subject to adjustment under anti-dilution provisions included in the warrants covering the additional issuance of shares by iBIZ resulting from stock splits, stock dividends or similar transactions. This presentation is not intended to constitute a prediction as to the future market price of the common stock or as to the number of shares of common stock issuable upon exercise of the warrants. (4) These shares are being registered pursuant to our obligations to the selling securityholder. (5) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) and (g) of the Securities Act, based on the average ($1.21) of the bid ($1.16) and asked ($1.25) price on the NASD OTC Bulletin Board on April 12, 2000. The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to Section 8(a), may determine. 3 PART II INFORMATION NOT REQUIRED IN PROSPECTUS ITEM 24. INDEMNIFICATION OF DIRECTORS AND OFFICERS Limitation of Liability and Indemnification Matters. iBIZ's Articles of Incorporation, as amended, provide to the fullest extent permitted by Florida law, a director or officer of iBIZ shall not be personally liable to iBIZ or its shareholders for damages for breach of such director's or officer's fiduciary duty. The effect of this provision of iBIZ's Articles of Incorporation, as amended, is to eliminate the right of iBIZ and its shareholders (through shareholders' derivative suits on behalf of iBIZ) to recover damages against a director or officer for breach of the fiduciary duty of care as a director or officer (including breaches resulting from negligent or grossly negligent behavior), except under certain situations defined by statute. iBIZ believes that the indemnification provisions in its Articles of Incorporation, as amended, are necessary to attract and retain qualified persons as directors and officers. Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the "Securities Act") may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. ITEM 25. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION The follow table sets forth the estimated costs and expenses incurred by the selling securityholders in connection with this Offering. SEC Registration Fee $ 1,251.51 Legal Fees and Expenses $22,000 Printing Expenses $5,000 Blue Sky Fees and Expenses $6,000 TOTAL(1) $34,251.51
1. Except for the SEC registration fee, all fees and expenses are estimates. II-1 4 ITEM 26. RECENT SALES OF UNREGISTERED SECURITIES iBIZ Technology Corp. On July 10, 1998, iBIZ issued 3,000,000 shares of common stock, $.001 par value, at a sales price of $.05 per share totaling $150,000. iBIZ relied upon Regulation D, Rule 504 promulgated under the Securities Act with respect to these sales. Between November 13, 1998 and January 13, 1999, iBIZ issued 540,318 shares of common stock, $.001 par value, at a sales price of $.35 per share totaling $189,111.30. iBIZ relied upon Regulation D, Rule 506 promulgated under the Securities Act with respect to these sales. Effective January 1, 1999, iBIZ entered into a Plan of Reorganization and Share Exchange Agreement with INVNSYS and the below referenced individuals. Pursuant to the Reorganization, iBIZ issued 16,000,000 shares of common stock, $.001 par value, in exchange for one hundred percent (100%) of the outstanding shares of INVNSYS. The shares were allocated as follows:
NO. OF SHARES ------------- Moorea Trust dated December 18, 1991 12,120,000 Terry Ratliff 1,771,200 Mark Perkins 1,771,200 Paul Russo 46,400 Frank Ligammari 33,600 Richard Bielfelt 28,800 Terry Neild 228,800
The shares issued by iBIZ were issued pursuant to the exemption provided by Section 4(2) of the Securities Act. From March 8, 1999 through November 18, 1999, iBIZ issued 1,730,100 shares of common stock, $.001 par value, at a sales price of $.50 per share and 640,318 shares of common stock, $.001 par value, at a sales price of $.35 totaling an aggregate of $1,089,161. iBIZ relied upon Regulation D, Rule 506 promulgated under the Securities Act with respect to these sales. From April 22, 1999 through March 9, 2000, iBIZ issued options or warrants to purchase an aggregate of 4,375,000 shares of common stock, $.001 par value to employees and various consultants. The exercise price of the options or warrants is the fair market value on the date of grant, which ranged from $0.75 to $2.00 per share. iBIZ relied upon either Rule 701 or Section 4(2) with respect to the granting of these options and warrants. On June 30, 1999, iBIZ issued Two Hundred Thousand Dollars ($200,000.00) of 8% Convertible Debentures. Upon the effectiveness of iBIZ's registration statement on Form SB-2, File No. 333-94409, dated January 11, 2000, as II-2 5 amended January 31, 2000, the 8% Debentures automatically converted to 300,000 fully paid and nonassessable shares of common stock, $.001 par value. Between November 1999 and March 2000 iBIZ issued a series of three 7% Debentures totaling an aggregate of $3.2 million. In November 1999, iBIZ issued Six Hundred Thousand Dollars ($600,000.00) of 7% Debentures (the "$600k 7% Debentures") to Globe United Holdings, Inc. Thereafter, in December 1999, iBIZ issued to Globe an additional One Million Dollars ($1,000,000.00) of 7% Debentures (the "$1000k 7% Debentures). On March 27, 2000, iBIZ issued One Million Six Hundred Thousand Dollars ($1,600,000.00) of 7% Debentures (the "$1600k 7% Debentures) to Lites Trading, Co. On December 6, 1999, Globe converted $200,000 of the $600k 7% Debentures, plus accrued interest to date, on March 2, 2000, Globe converted $1,000,000 of the $1000k 7% Debentures, plus accrued interest to date and on April 14, 2000, Globe converted $50,000 of the $600k 7% Debentures, plus accrued interest to date. Pursuant to the applicable conversion formula, iBIZ issued 300,962 shares of common stock, 1,292,481 shares of common stock and 88,938 shares of common stock, respectively. Accordingly, as of the date of this registration statement, Globe's remaining $600k 7% Debentures totaled $350,000, plus accrued interest. In connection with the issuance of the $600k 7% Debentures, iBIZ issued a warrant to purchase 100,000 shares of common stock at a purchase price of $0.94 per share. The warrant is immediately exercisable and expires November 9, 2004. In connection with the issuance of the $1000k 7% Debentures, iBIZ issued a warrant to purchase 200,000 shares of common stock at a purchase price of $0.94 per share. The warrant is immediately exercisable and expires December 28, 2004 In connection with the issuance of the $1600k 7% Debentures, iBIZ issued a warrant to purchase 375,000 shares of common stock at a purchase price of $1.45 per share. The warrant is immediately exercisable and expires March 27, 2004 (collectively the "Warrants). iBIZ relied upon Regulation D, Rule 506 promulgated under the Securities Act with respect to the issuance of the 7% Debentures and the Warrants. On December 14, 2000, iBIZ issued a warrant to purchase an aggregate of 75,000 shares of common stock at a purchase price of $1.66 per share. The warrant is immediately exercisable and expires December 14, 2004. iBIZ relied upon either Section 4(2) or Regulation D, Rule 506 promulgated under the Securities Act with respect this warrant. On January 7, 2000, iBIZ issued 250,000 shares of common stock, $.001 par value, at a sales price of $1.10 per share for a total amount of $275,000. iBIZ relied upon Regulation D, Rule 506 promulgated under the Securities Act with respect this sale. II-3 6 On January 10, 2000, iBIZ issued a warrant to purchase an aggregate of 281,250 shares of common stock at a purchase price of $0.99 per share. The warrant is immediately exercisable and expires December 29, 2004. iBIZ relied upon either Section 4(2) or Regulation D, Rule 506 promulgated under the Securities Act with respect this warrant. On March 27, 2000, iBIZ issued a warrant to purchase an aggregate of 240,000 shares of common stock at a purchase price of $2.05 per share. The warrant is immediately exercisable and expires March 27, 2005. iBIZ relied upon either Section 4(2) or Regulation D, Rule 506 promulgated under the Securities Act with respect this warrant. II-4 7 ITEM 27. EXHIBITS INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION ----------- ----------- 2.01(1) Plan of Reorganization and Stock Exchange Agreement dated January 1, 1999 3.01(1) Articles of Incorporation, as amended 3.02(1) Bylaws 5.04(6) Opinion of Gammage & Burnham, P.L.C. 10.01(1) Citrix Business Alliance Membership Agreement dated February 10, 1999, between INVNSYS and Citrix Systems, Inc. 10.02(1) Client Software License Agreement dated December 30, 1998, between INVNSYS and Citrix Systems, Inc. 10.03(1) iBIZ Technology Corporation Distributed Software License Agreement dated June 2, 1999, between iBIZ and Jeremy Radlow 10.04(1) 3Com Designed for Palm Computing Platform Logo License Agreement, between iBIZ and Palm Computing, Inc. 10.05(1) IBIZ Technology Corp. Stock Option Plan dated January 31, 1999 10.06(1) Form of Stock Option 10.07(1) Lease Agreement dated June 1, 1999, between iBIZ and Lone Cactus Capital Group, L.L.C. 10.08(1) Strategic Teaming and Marketing Agreement dated February 18, 1999, between iBIZ and Global Telephone Communication, Inc. 10.09(1) Form of iBIZ Technology Corp. Common Stock Purchase Warrant 10.10(1) Form of iBIZ Technology Corp. Convertible Debenture 10.11(1) Employment Agreement dated March 5, 1999, as amended, between iBIZ, INVNSYS and Kenneth Schilling 10.12(1) Employment Agreement dated March 5, 1999, as amended, between iBIZ, INVNSYS and Terry Ratliff 10.13(1) Employment Agreement dated March 5, 1999, as amended, between iBIZ, INVNSYS and Mark Perkins 10.14(2) Securities Purchase Agreement dated November 9, 1999, between iBIZ and Globe United Holdings, Inc. 10.15(2) 7% Convertible Debenture Due November 9, 2004, between iBIZ and Globe United Holdings, Inc. 10.16(2) Warrant dated November 9, 1999 10.17(2) Registration Rights Agreement dated November 9, 1999, between iBIZ and Globe United Holdings, Inc. 10.18.(3) Securities Purchase Agreement dated December 29, 1999, between iBIZ and Globe United Holdings, Inc. 10.19.(3) 7% Convertible Debenture Due December 29, 2004, between iBIZ and Globe United Holdings, Inc. 10.20(3) Warrant dated December 29, 1999
II-5 8 10.21(3) Registration Rights Agreement dated December 29, 1999, between iBIZ and Globe United Holdings, Inc. 10.22(3) Subscription Agreement for Common Stock of iBIZ Technology Corp. 10.23(4) Master Distribution Agreement dated January 12, 2000, between iBIZ and Harsper Co. Ltd. 10.24(5) Letter Agreement dated December 14, 1999, between iBIZ and Josephthal & Co., Inc. 10.25(5) Financial Project Management Agreement dated January 20, 2000, between iBIZ and Equinet, Inc. 10.26(6) Securities Purchase Agreement dated March 27, 2000, between iBIZ and Lites Trading, Co. 10.27(6) 7% Convertible Debenture Due March 27, 2000, between iBIZ and Lites Trading, Co. 10.28(6) Warrant dated March 27, 2000 10.29(6) Registration Rights Agreement dated March 27, 2000, between iBIZ and Lites Trading, Co. 10.306 Letter Agreement dated March 27, 2000, from Globe United Holdings to iBIZ 21.01(1) Subsidiaries of Registrant 23.02(6) Consent of Moffitt & Company 27.02(4,5) Financial Data Schedule 99.01(6) Press Release dated January 12, 2001
- --------------- 1. Incorporated by reference from iBIZ's Form 10-SB, File No. 027619, filed with the SEC on October 13, 1999. 2. Incorporated by reference from iBIZ's Form 10-SB/A, File No. 027619, filed with the SEC on December 1, 1999. 3. Incorporated by reference from iBIZ's Form SB-2, File No. 333-94409, filed with the SEC on January 11, 2000. 4. Incorporated by reference from iBIZ's Form 10-KSB, File No. 027619, filed with the SEC on January 27, 2000. 5. Incorporated by reference from iBIZ's Form 10-QSB, File No. 027619, filed with the SEC on March 16, 2000. 6. Filed herewith. ITEM 28. UNDERTAKINGS (a) The undersigned Registrant hereby undertakes: (1) To file, during any period in which offers or sales are being made of the securities registered hereby, a post-effective amendment to this Registration Statement: (i) To include any prospectus required by Section 10(a)(3) of the Securities Act; (ii) reflect in the prospectus any facts or events which, individually or together, represent a fundamental change in the information set forth in this Registration Statement; and (iii) include any additional or changed material information on the plan of distribution. II-6 9 (2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. (b) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. II-7 10 SIGNATURES In accordance with the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements of filing on Form SB-2 and authorized this registration statement to be signed on its behalf by the undersigned, in the City of Phoenix, State of Arizona on January 19, 2001. iBIZ Technology Corp., a Florida Corporation By: /s/ Kenneth W. Schilling ------------------------------- Kenneth W. Schilling, President, Director By: /s/ Terry S. Ratliff ------------------------------- Terry S. Ratliff, Vice President, Comptroller, Director By: /s/ Mark H. Perkins ------------------------------- Mark H. Perkins, Vice President of Operations, Director II-8 11 INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION ----------- ----------- 2.01(1) Plan of Reorganization and Stock Exchange Agreement dated January 1, 1999 3.01(1) Articles of Incorporation, as amended 3.02(1) Bylaws 5.04(6) Opinion of Gammage & Burnham, P.L.C. 10.01(1) Citrix Business Alliance Membership Agreement dated February 10, 1999, between INVNSYS and Citrix Systems, Inc. 10.02(1) Client Software License Agreement dated December 30, 1998, between INVNSYS and Citrix Systems, Inc. 10.03(1) iBIZ Technology Corporation Distributed Software License Agreement dated June 2, 1999, between iBIZ and Jeremy Radlow 10.04(1) 3Com Designed for Palm Computing Platform Logo License Agreement, between iBIZ and Palm Computing, Inc. 10.05(1) iBIZ Technology Corp. Stock Option Plan dated January 31, 1999 10.06(1) Form of Stock Option 10.07(1) Lease Agreement dated June 1, 1999, between iBIZ and Lone Cactus Capital Group, L.L.C. 10.08(1) Strategic Teaming and Marketing Agreement dated February 18, 1999, between iBIZ and Global Telephone Communication, Inc. 10.09(1) Form of iBIZ Technology Corp. Common Stock Purchase Warrant 10.10(1) Form of iBIZ Technology Corp. Convertible Debenture 10.11(1) Employment Agreement dated March 5, 1999, as amended, between iBIZ, INVNSYS and Kenneth Schilling 10.12(1) Employment Agreement dated March 5, 1999, as amended, between iBIZ, INVNSYS and Terry Ratliff 10.13(1) Employment Agreement dated March 5, 1999, as amended, between iBIZ, INVNSYS and Mark Perkins 10.14(2) Securities Purchase Agreement dated November 9, 1999, between iBIZ and Globe United Holdings, Inc. 10.15(2) 7% Convertible Debenture Due November 9, 2004, between iBIZ and Globe United Holdings, Inc. 10.16(2) Warrant dated November 9, 1999 10.17(2) Registration Rights Agreement dated November 9, 1999, between iBIZ and Globe United Holdings, Inc. 10.18.(3) Securities Purchase Agreement dated December 29, 1999, between iBIZ and Globe United Holdings, Inc. 10.19.(3) 7% Convertible Debenture Due December 29, 2004, between iBIZ and Globe United Holdings, Inc. 10.20(3) Warrant dated December 29, 1999 10.21(3) Registration Rights Agreement dated December 29, 1999, between iBIZ and Globe United Holdings, Inc. 10.22(3) Subscription Agreement for Common Stock of iBIZ Technology Corp.
II-9 12 10.23(4) Master Distribution Agreement dated January 12, 2000, between iBIZ and Harsper Co. Ltd. 10.24(5) Letter Agreement dated December 14, 1999, between iBIZ and Josephthal & Co., Inc. 10.25(5) Financial Project Management Agreement dated January 20, 2000, between iBIZ and Equinet, Inc. 10.26(6) Securities Purchase Agreement dated March 27,2000, between iBIZ and Lites Trading, Co. 10.27(6) 7% Convertible Debenture Due Mach 27, 2000, between iBIZ and Lites Trading, Co. 10.28(6) Warrant dated March 27, 2000 10.29(6) Registration Rights Agreement dated March 27, 2000, between iBIZ and Lites Trading, Co. 10.30(6) Letter Agreement dated March 27, 2000 from Globe United Holdings to iBIZ 21.01(1) Subsidiaries of Registrant 23.02(6) Consent of Moffitt & Company 27.02(4,5) Financial Data Schedule 99.01(6) Press Release dated January 12, 2001
- --------------- 1. Incorporated by reference from iBIZ's Form 10-SB, File No. 027619, filed with the SEC on October 13, 1999. 2. Incorporated by reference from iBIZ's Form 10-SB/A, File No. 027619, filed with the SEC on December 1, 1999. 3. Incorporated by reference from iBIZ's Form SB-2, File No. 333-94409, filed with the SEC on January 11, 2000. 4. Incorporated by reference from iBIZ's Form 10-KSB, File No. 027619, filed with the SEC on January 27, 2000. 5. Incorporated by reference from iBIZ's Form 10-QSB, File No. 027619, filed with the SEC on March 16, 2000. 6. Filed herewith. II-10 EX-99.1 2 p64473cex99-1.txt EX-99.1 1 EXHIBIT 99.01 IBIZ TECHNOLOGIES CORP. ISSUES CORRECTIVE PRESS RELEASE REGARDING SEC ACTION Phoenix, Arizona, January 12, 2001. iBIZ Technologies Corp. ("the Company") (OTCBB:IBIZ) is issuing this press release to clarify its January 8, 2001 press release. For clarification, no formal action has been commenced by the Commission to date. Rather, Commission staff members contacted Company representatives indicating that Ken Schilling and the Company were under investigation for violations of Section 10b of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder. Staff members further indicated that a recommendation would be made that the Commission commence a formal enforcement action. Communications have been held with the SEC staff regarding settlement. Settlement proposals have been signed by both Ken Schilling and the Company, have been submitted to SEC staff members, and are expected to be reviewed by the Commission shortly. The settlement proposals, if approved by the Commission, would enjoin Ken Schilling from committing violations of Section 10b of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder, and would impose a $20,000 civil penalty against Schilling. The proposed settlement would also result in an administrative order being entered prohibiting the Company from committing Section 10b or Rule 10b-5 violations, but would not involve the imposition of a monetary penalty against the Company. -----END PRIVACY-ENHANCED MESSAGE-----