IDND International Dispensing Corporation (PK)

International Dispensing Corporation (IDC) (IDND.PK) announced today it has sold the Beverage Carafe (BC) to LBP, the market leader in bulk coffee to-go and maker of the Box of Joe. IDC had developed the BC hoping it would bridge short-term operating cash flow needs stemming from the long lead times to validate and commercialize its aseptic tap. While successful in penetrating a number of end users, including Wegman�s, 7-Eleven, Sheetz, Home Depot, and White Hen, the BC�s ramp up proved longer than expected, with manufacturing, inventory, and sales demands more appropriate for a larger staffed company. Marketing the BC consumed management time and resources that the company believes are better spent on The Answer�. Selling the BC assets enables the company to cut its annual operating burn by 50%, sharpen focus on its core business, and efficiently execute its IP business model and branding campaign. For more information on recent marketing developments, please log on to IDC�s redesigned website: www.idcdispensing.com. Concurrently with the sale of the BC, IDC has successfully negotiated a $2.73 million equity capital raise, the majority of which comes from individuals within the Cardinal Investment Company, based in Dallas, TX. The first installment was received in November; the second is due on December 1, with the remainder due on January 20, 2007. The investment enables IDC to: 1) complete its purchase of the tooling and automatic assembly equipment necessary to make The Answer� cost effective and to handle anticipated sales volume, and 2) launch the Don�t Call It a Tap��Call it The Answer� campaign. With the remainder of the funds, the company believes it will become self-sustainable. �After a lengthy due diligence, we appreciate this vote of confidence by a very savvy and helpful group of investors,� said IDC�s CEO Greg Abbott. �We are determined that this be our last equity infusion. Based on our leaner structure and assessment of market opportunities, we have good reason to be hopeful.� This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect IDC�s current views about future events. Risks, which may cause actual results to differ materially, may include, but are not limited to: the lack of acceptance of IDC�s products by potential customers; IDC�s failure to continue to develop its product line or to attract and retain customers; its failure to anticipate and adapt to developing markets and the presence of competition, including potential competitors that are larger than IDC, with greater financial, technical, and marketing resources. International Dispensing Corporation (IDC) (IDND.PK) announced today it has sold the Beverage Carafe (BC) to LBP, the market leader in bulk coffee to-go and maker of the Box of Joe. IDC had developed the BC hoping it would bridge short-term operating cash flow needs stemming from the long lead times to validate and commercialize its aseptic tap. While successful in penetrating a number of end users, including Wegman's, 7-Eleven, Sheetz, Home Depot, and White Hen, the BC's ramp up proved longer than expected, with manufacturing, inventory, and sales demands more appropriate for a larger staffed company. Marketing the BC consumed management time and resources that the company believes are better spent on The Answer(TM). Selling the BC assets enables the company to cut its annual operating burn by 50%, sharpen focus on its core business, and efficiently execute its IP business model and branding campaign. For more information on recent marketing developments, please log on to IDC's redesigned website: www.idcdispensing.com. Concurrently with the sale of the BC, IDC has successfully negotiated a $2.73 million equity capital raise, the majority of which comes from individuals within the Cardinal Investment Company, based in Dallas, TX. The first installment was received in November; the second is due on December 1, with the remainder due on January 20, 2007. The investment enables IDC to: 1) complete its purchase of the tooling and automatic assembly equipment necessary to make The Answer(TM) cost effective and to handle anticipated sales volume, and 2) launch the Don't Call It a Tap(TM)...Call it The Answer(TM) campaign. With the remainder of the funds, the company believes it will become self-sustainable. "After a lengthy due diligence, we appreciate this vote of confidence by a very savvy and helpful group of investors," said IDC's CEO Greg Abbott. "We are determined that this be our last equity infusion. Based on our leaner structure and assessment of market opportunities, we have good reason to be hopeful." This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect IDC's current views about future events. Risks, which may cause actual results to differ materially, may include, but are not limited to: the lack of acceptance of IDC's products by potential customers; IDC's failure to continue to develop its product line or to attract and retain customers; its failure to anticipate and adapt to developing markets and the presence of competition, including potential competitors that are larger than IDC, with greater financial, technical, and marketing resources.