epho a 22 cent stock...lmao
Subject:
Date:
Thu, 4 Apr 2002 08:15:39 -0800
NEWS RELEASE
ePHONE Telecom Produces in Excess of $1.8M in March
- Also Generates Cash Influx of $700,000 Through Warrant Exercise-
HERNDON, Va. - April 04, 2002 - ePHONE Telecom, Inc. (OTCBB: EPHO) a global
Internet telephony services carrier for businesses and individuals, today
announced that results from service offerings for the month of March were in
excess of $1.8 million. This represents a substantial increase of $200,000
over February as the company continued to expand its customer and product
base.
The Company also reported that cash proceeds of $700,000 were received into
Treasury through the exercise of share purchase warrants. These share
purchase warrants were granted as part of the special warrant financing
completed in April 2000 and expired on March 30 2002. Subsequent to the new
shares being issued the company will have approximately 35 million shares
issued and outstanding, and 40 million fully diluted. The warrants were
exercised by current shareholders at no cost to the company. The proceeds
will be used to grow the business by accelerating products to market and
expanding the network.
"These are two very significant accomplishments for ePHONE," commented
Carmine Taglialatela Jr., ePHONE President and CEO. "These results for March
are tremendous, we continue to grow our business at a phenomenal rate
compared to the industry. The solid performance of our team and the
efficiency of our calling network can be directly attributed to this
success. Overall the first quarter has produced exceptional results which we
anticipate releasing in early May."
Taglialatela continued, "We are thrilled to have generated this much
interest from our current shareholders in exercising the share purchase
warrants. This strong show of support is a ringing endorsement of investor
confidence in the company, our strategic vision and the progress to date. We
intend to use these funds judiciously to capitalize on the opportunities
that exist in the Telecommunications industry and continue to aggressively
grow the business and build shareholder value."
About ePHONE Telecom
ePHONE Telecom provides next-generation, voice and data communication
solutions to businesses and residential customers worldwide. The Company
provides a growing suite of innovative retail products and services
including branded and private label pre-paid calling cards, pre-paid
domestic calling plans and leading edge 1+ pre-paid services as well as
wholesale (carrier-to-carrier) solutions. ePHONE's retail products can
provide consumers dramatic savings of 50% to 70% versus traditional
carriers. ePHONE delivers these services via a high-quality, scaleable,
Tier-1 grade, Cisco-based VoIP network supported by a 24/7 network operating
center in Herndon, VA. The Company is focused on expanding its
points-of-presence on a global basis to support every existing and emerging
telephony protocol. For more information on ePHONE Telecom and its products
and services please visit www.ephonetelecom.com.
For investor information visit www.otcfn.com/epho.
Investor Relations Contacts:
OTC Financial Network
1-866-825-3405 |
