PHOENIX, June 22, 2004 – LAWFUEL – iBIZ Technology Corp.
(OTC Bulletin Board: IBZT), an innovative manufacturer and distributor of
accessories for personal digital assistants (PDAs) and other handheld devices,
announced today it filed a suit in Tel Aviv, Israel against Pangea Investments
GmbH, Enterprise Capital AG, Enterprise Capital AG Israel Ltd., Mr. Sam
(Shlomo) Elimelech and Mr. Gai Mar-Chaim.
iBIZ’s claims in the law suit include one against Enterprise Capital AG
Israel for breach of contract and claims against all of the defendants for
fraud/misrepresentation, unjust enrichment, and business torts (unfair
Since January the defendants have caused recurring delays in production;
these delays were coupled with the defendants’ demand for prepayment of goods.
After several demand notices issued by iBIZ for information and assurances
were not responded to, iBIZ was forced to take legal action in the Magistrates
Court of Tel-Aviv – Jaffa, and a suit was filed today. iBIZ is represented
by, Adv. Eric Sherby, 3 Abba Hillel Silver Street, Ramat Gan, Israel. A copy
of the statement of claim (complaint) will be available on our web site
June 23, 2004.
About iBIZ Technology Corp.:
iBIZ Technology Corp. is a leading manufacturer and distributor of
accessories for personal digital assistant (PDA) and other handheld devices.
iBIZ is recognized for innovative, high-quality, competitively priced products
that are available through major retailers. For more information on iBIZ
products and services, please visit http://www.ibizcorp.com or call 1-800 234-0707.
For further information, please contact: Media, Belinda Banks of S&S
Public Relations, +1-718-320-4898, Belinda@sspr.com , or Investor Relations,
Ed Lewis of CEOcast +1-212-732-4300
“Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act of 1933
and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to
the safe harbor created by those rules. All statements, other than statements
of fact, included in this release, including, without limitation, statements
regarding potential future plans and objectives of the company, are forward-
looking statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in such
Technical complications that may arise could prevent the prompt
implementation of any strategically significant plan(s) outlined above. The
company cautions that these forward looking statements are further qualified
by other factors including, but not limited to those, set forth in the
company’s Form 10-KSB filing and other filings with the United States
Securities and Exchange Commission (available at http://www.sec.gov ). The company
undertakes no obligation to publicly update or revise any statements in this
release, whether as a result of new information, future events or otherwise.”