IVOT - share buyback, no debt, green company

[Jack_Aster]

IVOICE TECHNOLOGY A
Symbol IVOT



I GREEN INNOVATIONS, INC. Announces Board of Directors Consideration Adopting a Share Buyback Program, Company Believes Share Price Is Very Undervalued


2009-03-17 06:07 ET - News Release

MATAWAN, NJ -- (MARKET WIRE) -- 03/17/09


iVoice Technology, Inc., d/b/a I GREEN INNOVATIONS, Inc. (OTCBB: IVOT), announced today its Board of Directors has adopted a Share Buyback Program (the "Program"). Under the terms of the Program, the Board of Directors has authorized the management of the Company to make open market purchases of up to $75,000 from time to time during the next twelve months. At the present market price, this amounts to an anticipated purchase of approximately thirty five percent (35%) of the current common stock outstanding. The potential "Green industry" will be propelled by America's drive towards energy independence and global warming solutions that our customers, colleagues, investors and competitors desire now. The scale and growing pace of the "green collar economy" creates opportunities for our business to grow revenues, enhance our brand and save our customers money.

Jerry Mahoney, Chairman and Chief Executive Officer of I Green Innovations, Inc., stated, "The Company has taken this action as an indication of its commitment to its shareholders as the Company believes that its share price is non-reflective of the Company's true value. With our recent payoff of the outstanding convertible debentures, the Company having no debt is positioned for growth with 'Green' products."

The Company does not intend to change its capital structure in any fashion, except this reduction of issued and outstanding common shares to better reflect and bolster the true value of the Company through its share price.

About B Green Innovations:

B Green Innovations, Inc. ("B Green"), a Matawan, New Jersey-based Corporation is dedicated to becoming a "green" technology company, focused on acquiring and identifying promising technologies that address environmental issues. The first technology will be used to create new products from recycled tire rubber. Recently, we announced that we had filed a new Patent Application for a process it described as "paver blocks and patio blocks made from recycled tire crumb rubber." B Green Innovations, Inc. has also filed 3 additional patents on products made using 100% recycled tires.

Certain information included in this press release, may contain forward-looking statements about our current and expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the Securities and Exchange Commission, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

For more information on I Green Innovations, please visit






Contact:
Dolores Serafin
732-696-9333