Livingston, NJ, March 13, 2008 -- Trey Resources, Inc. (OTC Bulletin Board: TYRIA), the premier total solutions provider specializing in business software for the small- and medium-sized business market, today reported that it has terminated the previously announced letter of intent to sell its subsidiary, SWK Technologies, Inc.
Mark Meller, CEO of Trey Resources, said, “We were unable to come to final terms with the buyout group. Enough was enough, and it is now time to get back to work. Trey has grown in a short period of time from a company with no revenue, (back in May 2004), to a Company which today is reporting sales results at a run rate in excess of $7 million per year. We are immediately refocusing our energy away from the sale and back towards increasing the profitability of SWK. We will provide our shareholders with updates in the coming weeks about new developments.”
About Trey Resources
Trey Resources is involved in the acquisition and build-out of technology and software companies. The Company’s growth strategy is to acquire firms in this extensive and expanding, but highly fragmented segment, as it seeks to create substantial value for shareholders. Since June 2004, Trey has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, and AMP-BEST Consulting, Inc. For more information, visit www.treyresources.com, www.swktech.com, www.mapadoc.com, www.amp-best.com, or contact Trey Resources CEO Mark Meller at (973) 758-9555 or by e-mail at mark.meller@swktech.com. Trey Resources was a recent spin-off of iVoice, Inc. (OTCBB: “IVOI”).
This news release includes 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, as amended, regarding among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to Trey Resources, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.