BlackBerry has no acquisition offers on the table as chief executive John Chen seeks to remake the company. The handset and mobile software and services provider is instead focused on turning its ailing business around independently, and its chances of success were "better than 80/20", Chen said. Since taking over the company in November last year, Chen has been winning over investors with a turnaround strategy that has included cutting costs, selling most of the company's property in Canada and building revenue from business services and its BBM instant-messaging service to compensate for declining handset sales. "I don't have any offers on my desk," he said. "If people would like to talk, I mean, talk is not an offer." The recovery may be threatened by a pact between Apple and International Business Machines Corp to collaborate on business services. That encroaches on a key component of Chen's overhaul: shifting the company from flagging smartphone sales towards software-based services for corporations, which generate higher margins. BlackBerry shares, which had increased 52 per cent this year before the Apple-IBM deal was announced on July 15, slumped 12 per cent the following day. As cost cuts, asset sales and cash preservation help drive Chen's turnaround, the company is still planning to reach break-even cash flow by the end of this fiscal year. Chen also expects to return to profitability during the year that will end in March 2016. "I am comfortable with where the company is today, how we managed our technology, our businesses, the margins, the distribution channel or the new products that are coming out," Chen said. "Whether it's going to be good enough to be iconic again, OK, that's something I need to chew on. I don't know the answer to that question."