[August 19, 2004] iMergent Announces $5 Million Line of Credit with Bank One; Replaces Zions First National Bank Line of Credit OREM, Utah --(Business Wire)-- Aug. 19, 2004 -- iMergent, Inc., (AMEX:IIG) 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. [ Back To TMCnet.com's Homepage ]