IPVoice Communications Inc. Advances Voice Over IP Strategy With Near Term Potential Of Over 1000 VoIP Phones In Service By February 2004
Business Wire - November 19, 2003 10:28
4th Quarter Sales Include Estimated 20% Quarter-to-Quarter Organic Growth From VoIP Sales On Top Of 100% Growth From Infotel Technology Acquisition
DALLAS, Nov 19, 2003 (BUSINESS WIRE) -- IPVoice Communications, Inc. (OTCBB:IPVO) (
www.ipvoice.com) today announced recent progress in the development and execution of the Company's Voice over Internet Protocol Strategy (VoiP).
Recently, IPVoice acquired a 51% interest in IP Global Voice, Inc., headquartered in San Francisco and led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications (NYSE:Q).
Subsequently, IPVoice announced the reassignment of VoIP customers from a TekVoice Communications Inc. to IPVoice Communications as part of a first step in a more strategic overall opportunity with IPVoice. Today, IPVoice is adding to the base of reassigned VoIP customers at a rate of 20% month to month.
TekVoice and IPVoice are also in negotiations regarding the sale of additional TekVoice assets to IPVoice. Specifically, TekVoice and IPVoice are discussing the sale of TekVoice's billing technology solution and customer base throughout the United States and Latin America. TekVoice currently bills over $65,000 per month in recurring revenue with an additional $15,000 per month in revenue under contract. The billing solution would add to IPVoice's portfolio of propriety software products aimed at offering an end-to-end VoIP solution on either a turnkey or service provider basis.
IPVoice is currently on the short list of potential vendors for a number of large VoIP projects that would place over 1000 VoIP phones in service. The contract opportunities have a very narrow vendor eligibility requirement that IPVoice fulfills with its unique solution capability.
"IPVoice will soon begin announcing more details of our strategy for rapidly expanding our VoIP business," states Philip Verges, CEO of IPVoice Communications. "We are confident our plan will produce exponential VoIP sales growth as we build our reference base. We believe the execution of our VoIP strategy has been optimally timed with the marketplace's receptivity to a VoIP solution. Being an active participant in this high profile sector can only help IPVoice in building corporate awareness and sales momentum going forward."
About IPVoice Communications Inc
IPVoice is a six-year-old company that has reported as a research and development concern for most of its history. Just over one year ago, IPVoice launched a business plan to reinvent itself. Since then the Company has posted five consecutive profitable quarters and has booked over $2 million in revenue. The Company is actively acquiring early-stage proprietary technology companies and financially-distressed systems integration companies in specific global markets. In addition to the Infotel acquisition which brought the IPVoice annualized revenue rate from $2 million to over $7 million, IPVoice recently announced the acquisition of IP Global Voice, an early stage emerging technology company led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications (NYSE:Q). IPVoice plans to acquire additional companies similar to Infotel and IP Global Voice.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the risks inherent in the integration of Infotel Technologies into IPVoice Communications, Inc. business, the ability of IPVoice to restore and stabilize the client base of Infotel and re-establish relationships with key suppliers, the development and market acceptance of the products and services of the combined companies, demand for the telecommunication and other products and related services, domestic and foreign government spending, budgetary and trade policies, economic and political changes in the domestic and international markets where the Company competes, successful deployment of advanced technologies, competitive product and pricing pressures as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
المفضلات