Introduces New Version of its StoresOnline Software
Continues to Execute on Aggressive Growth Strategy
StoresOnline Express Distribution Model Expands Sales Opportunity
OREM, Utah--Nov. 6, 2007--iMergent, Inc. (AMEX:IIG), a leading provider of eCommerce software for small businesses and entrepreneurs, unveiled StoresOnline(TM) Express, the company`s newest offering that provides a scalable, simplified, single website solution.
"We believe the launch of StoresOnline Express will enable us to expand the number of customers we serve and our scope," said Brandon Lewis, president of iMergent. "By leveraging our technology and scalable eCommerce infrastructure we expect to be able to deliver our solutions to a larger segment of the market, which we have not addressed in the past. StoresOnline Express also enables us to consider new distribution channels, including online direct sales and other opportunities. We anticipate a broader, larger product launch in the near future."
-- Features award-wining 24/7 chat support
-- Professional customizable page designs
-- WYSIWYG drag and drop page editor
-- VeriSign secured eCommerce environment
-- Integrated real-time credit card processing
"Entrepreneurs and small businesses have used eCommerce to become a key part of the economy worldwide," Lewis added. "The Small Business Administration reports there are nearly 27 million small businesses in the United States and millions more worldwide. Recent polling suggests nearly 90 percent of small businesses in the United States either had no website or had a website with no e-commerce functionality. Our goal is to expand our reach into the huge entrepreneur and small business marketplace."
"We saw an opportunity to provide an excellent solution to a segment of the eCommerce market," said Donald Danks, CEO of iMergent. "We believe by introducing StoresOnline Express, a scalable version of our cutting-edge, best of breed technology, we have the potential to expand our business."
"StoresOnline Express provides online entrepreneurs flexibility and control over their approach to eCommerce," said David Rosenvall, CTO of iMergent. "We designed StoresOnline Express as a top of the line solution in this particular market. This solution also provides an upgrade path to StoresOnline Pro."
"As you know, we conduct preview conferences that host hundreds of thousands of potential buyers each year followed by workshops that host only a small portion of those people," Lewis continued. "By offering StoresOnline Express to preview conference attendees we hope to expand our potential customer base while growing our recurring revenue through hosting and support fees. StoresOnline Express is a perfect launch point for most online entrepreneurs. Now, our preview conferences can also generate revenue from StoresOnline Express, and our workshops will continue delivering the value added solutions and functions of StoresOnline Pro."
Pricing and Availability
Following its proven model, iMergent began testing at a limited set of workshops in September and at its preview conferences in late October. The company plans on continuing to test its offer of StoresOnline Express to potential customers at the company`s previews and workshops and hopes to roll out this offering in all of its conferences by the end of March 2008, if not sooner. The company also intends to offer StoresOnline Express online through various channels including the "New Features" section of the StoresOnline web site. The software will initially retail for $199 with $24.95 per month for hosting and customer support.
Danks concluded, "We continuously invest in research and innovation to offer cost effective, sophisticated and highly competitive, yet user-friendly technologies. Our philosophy is to provide solutions to entrepreneurs and small companies, at every stage of development, to better manage and maximize their businesses. We are following that philosophy with StoresOnline Express. As the marketplace continues to expand we are poised to lead out and capture this growth with innovative technologies."
The company`s First Quarter Fiscal 2008 conference call will be broadcast live over the Internet at www.imergentinc.com. If you do not have Internet access, the telephone dial-in number is 800-639-0297 for domestic participants and 706-634-7417 for international participants. Please dial in five to ten minutes prior to the beginning of the call at 1:30 p.m. PT (4:30 p.m. ET). A telephone replay will be available three hours after the call through November 8, 2007 by dialing 800-642-1687 for domestic callers or 706-645-9291 for international callers and entering access code 19978945.
Statements made in this press release regarding iMergent`s product StoresOnline Express and other statements that are not historical in nature constitute forward-looking statements within the meaning of the Safe Harbor Provisions 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 risks 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, (1) that express provides a scalable, simplified, single web site solution. (2) that the Company in releasing express is expanding in size and scope, (3) that the Company in releasing Express is able to provide a better solution in a segment of the eCommerce market (4) that Express will provide a scalable version of the Companies cutting-edge, best of breed technology (5) that the Company will leveraging its technology and scalable eCommerce infrastructure and accordingly will be able to deliver its solutions to a larger segment of the market which the Company has not addressed in the past (6) that the Company distributes Express at preview sessions, at workshops and, eventually, online, (7) that the Company continually evaluates market trends and is developing new product offerings which will enable the Company to reach its target audiences, (8) that the Company can expand its reach into the huge small business and entrepreneur market place as a useful top of the line solution in this particular market (8) that Express provides an upgrade path to StoresOnline Pro (9) that the introduction of Express allows the Company to expand its reach to potential buyers at preview conferences and online, (10) that the Company plans on continuing to test its Express to potential customers at the company`s previews and workshops and can roll out this offering to all customers (11) that Express will have the enumerated feature set, (12) that the Company does and will continue to conduct preview conferences which host hundreds of thousands of potential buyers each year followed by workshops (13) that the offer of Express for sale at the preview session will expand the potential customer base of the Company (14) that the Company will continue to offer cost effective, sophisticated and highly competitive, yet user-friendly technologies to help entrepreneurs and small companies better manage their businesses (14) that in offering Express to preview attendees the Company will increase its customer and accelerate recurring revenue and (15) that the market for the Company will continue to grow and it is poised to capture this growth with innovative technologies. For a more detailed discussion of factors that affect iMergent`s operations, please refer to the Company`s Form 10-K for the year ended June 30, 2006 and its Form 10-Q for the quarterly period ended September 30, 2006. The Company undertakes no obligation to update this forward-looking information.