“This acquisition will be good for the inventor community,” Inventbay.com’s President Keith Hammack said. “IdeaTango’s award-winning Web-based service mix will add new technology to InventBay.com’s new Web site in the near future, reinforcing InventBay.com’s position as America’s pre-eminent integrated one-stop shop for inventors seeking assistance, resources and capital with investors, service providers or manufacturers who can help in the development of their projects.

The acquisition makes IdeaTango a wholly-owned subsidiary of InventBay.com and it will continue to operate as IdeaTango. Hammack noted that this is an acquisition, not a merger, with the purchase paid in a combination of cash, and stock.

“IdeaTango fills an important Web-market niche for inventors, and for those who support inventors in their efforts to bring their creations to market,” Daigle said. “However, there was an inherent limit to our growth – the very thing that made us so strong as a Web-based company, limited our “bricks-and-mortar” efforts. Our acquisition by InventBay.com not only adds our strengths to InventBay.com, but also allows IdeaTango to capitalize on InventBay.com’s dominant position in the inventor-support industry.”

“Our acquisition of IdeaTango sets the stage for our future growth,” Hammack explained. “All future acquisitions, as well as all of our future strategic growth, will be focused on providing benefits to the inventor. At InventBay.com, everything we do is for the inventor – we know our market niche and we intend to dominate it.”

IdeaTango is – in essence – three websites in one. It has sub-sites aimed at inventors, at inventor-support service providers, and at businesses looking to acquire new inventions and bring them to market.

• Inventors are offered education and resource libraries, contests and a bulletin board where they can ask other inventors for help and guidance.
• Service providers are offered invention listings, a support business directory, discussion forums and advertising platforms
• Businesses have directories of products and inventions, as well as a platform where they can solicit inventions that meet their business models.

For each group, IdeaTango has created a vibrant “virtual community” that facilitates electronic networking and provides a “marketplace” where inventors, businesses and service providers can meet, exchange information and strike bargains – all designed to assist inventors to bring the fruits of their creative genius to market.

Hammack noted that the acquisition of IdeaTango is a clear signal of InventBay.com’s intent to become a market-dominating force to be reckoned with. “IdeaTango is one of the top Websites that serves inventors, and was recently listed as a top resource by social networking news website Mashable.com, and it was the only invention-oriented Website to earn the coveted Rice Alliance Most Promising Web 2.0 Company award in 2007. With IdeaTango now firmly an integral part of InventBay.com, one whose presence will be felt before year’s end in InventBay.com’s own Website, we are poised to “blow it out” at our First Annual International New Product and Invention Expo, scheduled for October 18-19 this year at the Las Vegas Sands Expo and Convention Center,” he added.

About InventBay.com: InventBay.com, Inc. brings together inventors seeking assistance with capital, along with all of the other resources needs that will help inventors to bring their projects to market. InventBay.com connects inventors with capital resources, and service industry professionals such as patent attorneys, designers, prototype developers, consultants and other inventors with a variety of free services to aid the invention community. Inventors can post descriptions of their projects, status, and needs to a database that is made available to all site visitors. Listings currently include inventions with at least some level of intellectual property protection. InventBay.com is also a member of the United Inventors Association and the Better Business Bureau.

InventBay.com employs a low cost overhead, high volume, "first to view" business model that supports the development of the invention industry worldwide. InventBay.com selectively participates in potentially highly successful listed inventions. For more information, please visit www.inventbay.com, email mailto:info@inventbay.com, or call 713-533-8114.

Safe Harbor Statement

This press release includes certain statements that fall within the definition of "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties, overall economic and market conditions, competitors' and clients' actions, and financial conditions, which could cause actual results to differ materially from those anticipated. Accordingly, such statements should be considered in light of these risks. Any prediction contained herein is only a statement of management's belief at the time the prediction is made. There can be no assurance that any prediction once made will continue thereafter to reflect management's belief, and the Company does not undertake to update publicly its predictions, whether as a result of new information, future events or otherwise.

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