Latest News

Posted: Fri May 04, 2007 2:26 am

Quote:

ITS News Update May 3rd, 2007

The following update has just been received from the management team.

We post it here in the same form it came in to us.

Regards,

System Admin
ITS Corp. - the IndEXperts

----------------------------------

A too long time has passed since our last update was forwarded to you as stockholding members, but there was good reason for this long timeframe.

We are very sorry to not be able to bring you good news this time.

Over a number of years, ITS Corp. has built up (or so it seemed) an offline business relationship with an individual who had been the head (and still is?) of a number of organizations which should - in return for ITS Corp.'s financial participation - provide substantial returns for our company.

ITS Corp. management has not been aware of the fact that this individual - some 15 months ago - launched some online participation schemes, collecting further investment funds from all over the world.

It now appears the individual in question has fraudulently deceived the ITS Corp. management team, and consequently all stockholding members. It also appears that he has full control of all the assets that were to provide profits to ITS Corp. (and possibly further participants in his ventures).

To make things even more difficult, this individual has just recently been sentenced to 10 years imprisonment for an earlier indictment plus been served with a Restitution Fine of USD 3.47 million. The bad news here is the latter part, as any recovery of assets up to that amount would be legally forfeited. The good news is that this person will not be able to go anywhere in the near future, leaving us time to investigate any possibilities for recovery of funds. As we learned a few weeks ago, there are other groups of interested parties, which we will join forces with, investigating this as well.

As a company we do have to write off this project, resulting in the current negative stock performance of both IEP and IEX stock. A correction will be made if and when we receive further information indicating a different outcome, or funds from any liquidation of assets or profits in case of a business takeover by a successor, although to be honest, the latter seems to be highly improbable.

Fortunately, this large project is not the only one ITS Corp. has been involved with over the past years. One of our other ventures develops rather nicely, and we expect that some cash flow will begin in the middle to the end of July.

As a consequence of the current developments, and in the light of the financial strains being put on the company, ITS Corp. will currently not buy back company stock from its stock holders until the financial situation will have changed. Of course, stockholding members are free to trade their units with interested parties via the stock transfer feature. We know that some of you have made use of this feature since its introduction, and still do so now.

As soon as those revenues out of one of our bigger projects start coming in, ITS Corp. will begin to buy back its company stock, as it has always done since the year 2002.

Again - we are deeply sorry for not being able to bring better news, but these are challenging times for all of us. We are confident in that ITS Corp. as a company will overcome the hurdles and prosper as before.

We will keep you informed as we move forward.

Sincerely,

Management Team
ITS Corp. - the IndEXperts

This is the reason why there are so many scams. These people piggyback on other programs while leading members to believe that they do the actual trading.

Levaz

Posted: Fri May 04, 2007 7:01 am

Quote:

ITS Corp. management has not been aware of the fact that this individual - some 15 months ago - launched some online participation schemes, collecting further investment funds from all over the world.

LOOOOOL!

Well said Levaz.