More TXCI News- Released on their web site.
TOTALAXCESS.COM, INC. REPORTS 264% REVENUE INCREASE IN FOURTH QUARTER
- Continued Upswing in Quarterly Revenues Reflect Solid Progression with Company's Distribution Partners
San Francisco, CA (July 28, 1999): TotalAxcess.com, Inc. (OTC BB: TXCI) today reported financial results for the fourth quarter ended June 30, 1999 indicating a 264% increase in revenue over third quarter earnings. These results reflect revenues generated in part by the Company's $9.6 million pre-paid phone card sales previously reported by the Company (Business Wire April 20). The Company's $700,000 fourth quarter revenue posting represents a 75% increase from the same period last year and does not reflect the Company's orders received in July or the revenue anticipated from the agreement with Data Transmission Telecommunication, S.A. (DTT).
The quarter's revenue expectations were revealed by TotalAxcess.com President and Chief Executive Officer, Joseph Monterosso during the Company's inaugural "State of the Business" teleconference held on Thursday, July 22, 1999. Given the positive response to the teleconference, and the extent of news to report, the Company is considering holding further teleconferences.
Monterosso reported to the teleconference participants that the Company's solid sales performance has been further enhanced by the Company's increase in telecommunication capacity configuration. TXCI's switches and debit platforms once fully installed will support in excess of 100 million minutes per month required to accommodate its many newly reported distribution agreements.
Monterosso stated, "Our fourth quarter earnings are only beginning to reflect the expansion of the Company's pre-paid and one plus customer billing, as well as the Company's headway in improving profitability through efficient and effective business management."
The Company reported on July 13 that it has received a new order anticipated to yield $35 million in revenue.
On July 22, the Company also announced a strategic alliance with Paraguay based Data Transmission Telecommunication, S.A. (DTT) to further expand their international calling network opening significant international transport revenue opportunities for the Company. The initial $2 million contract calls for TXCI to terminate both voice and fax traffic from the U.S. beginning in September.
Fourth quarter consolidated results: As a result of a pre-paid phone card distribution agreement worth approximately $8.5 million in sales, effective April 1 1999, and $1.1 million in pre-paid sales for Worldwide Prepaid, Inc. the Company reported revenues of $700,000 for its fourth quarter compared to $399,711 revenues during the same period last year, or a 75% increase.
Highlights from the quarter include the Company's 500 percent expansion in telecommunications capacity to support the HitLoTTo® program (Business Wire June 10) in anticipation of high volume E-commerce sales driven in part by the Company's joint venture with CPNM/Internet Marketing and distribution agreements with the IMC (Internet Marketing Consortium). The consortium is expected to carry the on-line version of the HitLoTTo Club Card on all its affiliated leading retail websites beginning in mid-September, exposing HitLoTTo to more than two hundred million hits per month.
The Company also announced that the New York State lottery, North America's largest lottery retailer, would be available for HitLoTTo Club Card play beginning September 1, 1999. TotalAxcess.com's proprietary HitLoTTo Club Card is the only pre-paid phone card that offers free lottery plays as a purchase incentive.
TotalAxcess.com has indicated a heightened focus and expansion of its lottery related market segment with increased web marketing. The Company has expressed plans for www.hitlotto.com to become a dominant destination for lottery-related information, statistics and shortly direct sales of the HitLoTTo product. The Company has reported a strategic implementation of a new E-commerce website Lotteryticket.com (April 22). The Company unveiled plans to utilize this website exclusively for future on-line lottery ticket sales. This move positions the Company to take advantage of a direct consumer retail sales channel, when made available by U.S. State lotteries and acknowledged operational details would be released when appropriate.
Operationally the Company has completed the consolidation of all its subsidiary operations and expects that installation of the Company's switches and debit platforms in Southern California will be completed within 60 days. Effective August 1 the Company's central office will be relocated to Oakland, CA.
As a fully reporting San Francisco-based telecommunications and internet marketing company, TotalAxcess.com has been in operation for more than 14 years specializing in pre-paid telecommunication, one plus long distance and telephonic and internet based lottery participation. The Company officially changed its name from Group V Corporation to TotalAxcess.com on May 17th, reflecting the Company's progression and focus into Internet marketing and E-commerce to promote and market its pre-paid telecommunications products and services, including the innovative HitLoTTo Club Card.
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