IPVoice.com, Inc., Deploys Gateways, Network; IPVoice.com, Inc. In Process of Fully Reporting Status
August 9, 1999 08:19 AM
LITTLETON, Colo.--(BUSINESS WIRE)--Aug. 9, 1999--IPVoice.com BB announced today that they are deploying the first IPVoice Telephony Gateways in New York, Louisville, Los Angeles and Denver as a first step in the Flat25 and international IPVoice telephony network.
The international IP Telephony market worldwide has been estimated as being a potential $3 billion -- $7 billion by the year 2003.
The IPVoice gateways will now be stress tested in accordance with usual telecom practice, before the additional IPVoice gateways are released.
Barbara S. Will, President and COO, said, "After much hard work, our proprietary IP Telephony system has taken our first step to being truly operational. With our unique real-time billing and "BackOffice" software, we are ahead of our competition. As an example of the interest in our products, we have signed over $10 million of new business in the last 60 days. We are building gateways as fast as we can, in order to meet the demand."
Anthony K. Welch, Cofounder and Vice President, said, "We have maintained our technological advantage over the competition, and we are thrilled to see the fruits of our labor materialize in a professional telecommunications network utilizing IP Telephony."
Barbara S. Will continued, "Our recently announced partnership arrangements that include MetroPlus and Firstnet, are all set to receive their gateways shortly. This will provide IPVoice with a truly international IP Telephony network system, thus providing millions of customers with low rate telephone calls. The potential is staggering."
IPVoice also reported they are continuing with the formalities to become a fully reporting company, thus complying with the recent changes announced by the SEC and the NASD. Peter M. Stazzone, IPVoice CFO, commented, "Right now, we are in the midst of our financial audit and other formalities as required by the various regulatory bodies. This will bring us in compliance with the new rules of the OTC BB. We intend to publicize this information just as soon as everything is completed."
IPVoice.com is the developer and producer of unique proprietary state-of-the-art software and hardware solution for use in IP Telephony. IPVoice.com's premier product is an Internet Gateway named "TrueConnect(TM)", a fully Y2K compliant gateway that allows users to conduct real-time full-duplex, high quality two-way voice communication over the Internet.
To support TrueConnect, IPVoice.com has developed proprietary support products in the areas of order entry, billing, customer service, agent management and a switching network management system. Their system is poised to compete and surpass other Gateway manufacturers such as VocalTec VOCLF and other Voice over the internet services such as the one offered by NetSpeak NSPK .
Note: This press release contains certain "forward-looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995 and information relating to the Company and its subsidiaries that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management.
Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors, the interest rate environment, governmental regulation and supervision, seasonality, distribution networks, product introductions and acceptance, technological change, changes in industry practices, and one-time events.
Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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