• IRipple seeks buyers for assets

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    Listed information technology firm iRipple Inc. is negotiating for the sale of its assets as it changes from IT reseller to a holding company.

    In a disclosure to the stock exchange, the company said it will sell cash and cash equivalents, trade and other receivables, inventories, property and equipment and other assets.

    It said the specific terms and manner of the sale are yet to be determined, and that “these terms shall be disclosed immediately upon reaching a concrete agreement with the third-party buyer.”

    For the first nine months of the year, iRippple posted a net income of P7.47 million, reversing a net loss of P583,559 a year ago, as revenues went up to P29.35 million from P16.95 million.

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