FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act of 1934
For the Month of August, 2001
Commission File Number 0-30040
-------
VoiceIQ Inc., formerly BCB VOICE SYSTEMS INC.
---------------------------------------------
(Translation of Registrant's name into English)
240 Riviera Drive, Markham, Ontario I3R 5M1 Canada
--------------------------------------------------
(Address of principal executive offices)
[Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.]
Form 20-F [X] Form 40-F [ ]
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes [ ] No [X]
This Form 6-K consists of a copy of the news release of the Registrant issued
on August 30, 2001.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
VoiceIQ INC.
By: /s/ Larry Beard
--------------------
[Name: Larry Beard]
[Title: Chief Financial Officer]
Date: September 4, 2001
For Immediate Release VIQ:CDNX
VOICEIQ REPORTS THIRD QUARTER RESULTS
Markham, Ontario - August XX, 2001 - VoiceIQ Inc. (VIQ:CDNX) today announced
that sales revenue for the nine months ended June 30, 2001 totalled $4,326,958,
as compared with $5,119,496 reported for the same period one year ago. The net
loss for the period was ($6,433,256) or ($0.30) per share versus a loss of
($994,278) for the nine months ended June 30, 2000. Gross margins declined to
41.81% vs. 66.07% a year ago. Cash on hand at June 30 was $1,311,877.00.
Terry Graham, Chairman & CEO commented, "The increased loss for the period
reflects the lower sales volume and weaker gross margins than previously
achieved. Continued customer related delays in major order fulfilment continue
to contribute to slower revenue growth at VoiceIQ. In early June, we made
substantial cuts to supporting infrastructure. Settlements and severances
associated with these cuts had a significant impact on this quarter but allow us
to meet growth expectations for Q4 and fiscal 2002."
"We are very positive about the sales opportunities for our core VoiceFLOW and
CourtFLOW products over the next several months. Earlier this month we attended
the 7th National Court Technology Conference, which is the world's pre-eminent
technology conference and exhibition for courts and court technology leaders.
Our enhanced CourtFLOW offering, powered by the technology from recently
acquired INM, attracted considerable attention and a significant number of sales
prospects for the coming fiscal year. New partnerships with DOAR and Court
Reporting Consultants have extended the company's distribution channels and
enhanced our profile in the marketplace".
The company will hold a conference call on Tuesday September 4, 2001 at 4:00PM
to discuss the results and provide guidance for the remainder of the year. The
call can be accessed by dialling 888-571-5411 or 416-646-3096 (no passcode
required). The call will also be available live and archived on-line at the
VoiceIQ corporate web site at www.voiceiq.com or at www.viavid.com.
VoiceIQ provides voice capture, management and processing functions on common
framework application tools that run on virtually any hardware. VoiceIQ's
e-business platform is XML based, scaleable and accomodates voice
authentication, keyword spotting and voice recognition in an Internet/Intranet
multimedia environment. This technology treats voice as data, using artificial
intelligence for information interactions through data mining and natural
language understanding. VoiceIQ has partnered with leading transcription,
consulting-IT providers-systems integrators and services the legislative, court
and healthcare sectors in 7 countries with ongoing testing in the
telecommunications and government sectors.
For more information contact:
Investor Relations
Alphus Inc.
(416) 323-3888 or (877) 699-9166
VOICEIQ INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
NINE MONTHS ENDING JUNE 30, 2001 AND 2000
2001 2000
Revnue $4,326,958 $5,119,496
Cost of Sales 2,517,664 1,737,056
---------- ----------
Gross Profit 1,809,294 3,382,440
---------- ----------
Margin 41.81% 66.07%
Operational Expenses:
Selling, marketing & administration expenses 6,997,916 3,756,829
Software & product development 1,021,839 641,649
---------- ----------
Total operational expenses 8,019,555 4,398,478
---------- ----------
---------- ----------
Loss from operations (6,210,261) (1,016,038)
---------- ----------
Interest income 94,212 21,780
Loss on investment disposal 161,222
Loss from Equity Investment 155,985
---------- ----------
Net Loss For the Period $(6,433,256) $(994,278)
========== ==========
Net Loss Per Common Share Issued & Outstanding $(0.30) $(0.10)
Common Shares Issued & Outstanding 21,822,058 10,333,919
VOICEIQ INC.
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)
CASH PROVIDED (USED)
NINE MONTHS ENDING JUNE 30, 2001 AND 2000
2001 2000
Cash Derived From (Applied To)
Operating
Net Loss $(6,433,256) $(994,278)
Depreciation & Amortization 215,419 148,136
Investment Write Down 161,222
Loss from equity investment 155,985
Net Accrued interest on debentures payable 26,887
and receivable added to book values
Other non-cash interest expense 40,331 121,498
----------- ----------
(5,833,412) (724,644)
----------- ----------
Cange in Non Cash Working Capital (837,435) (990,734)
----------- ----------
(6,670,847) (1,715,378)
Financing
10% convertible debenture payments (601,400)
Proceeds from shares issued for cash 10,205,133 954,104
Loan Repayments (504,300)
Other payments on long term debt (3,447)
Share Issue Costs (913,266)
Conversion of Note to Equity 553,368
Private Placement (net) 4,067,000
Rights Issue (Net) 1,319,575
----------- ----------
8,667,020 6,389,747
----------- ----------
Investing
Acquisition/Investment (1,322,480) (1,250,000)
Purchase of Capital Assets (148,909) (13,881)
Deferred development costs (16,895)
Notes Receivable (20,305)
Negotiable Securities (689,000)
----------- ----------
(1,508,589) (1,952,681)
----------- ----------
Foreign Exchange loss on cash held in foregin currencies (462)
Net Increase (Decrease in Cash) 507,122 2,721,688
Opening Cash (Loans) 804,755 (1,118,869)
----------- ----------
Closing Cash (Loans) $1,311,877 $1,602,819
=========== ===========