IPVC obtains financing:
biz.yahoo.com
Wednesday May 5, 8:03 am Eastern Time
Company Press Release
IPVoice.Com Inc. - IPVC - Obtains Additional Funding for Deployment of
'TrueConnect' IP Gateways
IP Gateways Now Ready for Deployment
LITTLETON, Colo.--(BUSINESS WIRE)--May 5, 1999-- IPVoice.Com Inc.(tm) (OTC BB:IPVC - news) announced Wednesday that it has successfully obtained additional the additional funding for deployment of its IP Gateways.
President and Chairperson Barbara S. Will stated: ''We arevery grateful for the support of the investors who have shown confidence in our company by participating in this latest round of financing. The fact that many of the investors have prior knowledge of the company and its operations and have decided to invest once again, shows the excitement in the company and confidence in its future success.''
Anthony Welch, co founder, said, ''With these funds, IPVoice.com(tm) plans to immediately install Gateways in Europe and Asia in addition to those to be installed in the U.S. for the IPVoice.com Flat25(tm) plan.''
In an earlier news release, IPVoice.com introduced its Flat25 Plan which will make available its Voice Over the Internet product for as low as $25 per month flat rate to households in the U.S. and Canada.
Residential customers will be able to make phone calls over the Internet using a regular telephone and realize savings over traditional long distance carriers such as AT&T (NYSE:T - news), MCI WorldCom (NYSE:WCOM - news) and Sprint (NYSE:FON - news).
Peter M. Stazzone, senior VP and CFO of IPVoice said: ''Some of these funds will be used to support our business plan expenses. Management expects to successfully realize its revenue expectations.''
A private debt offering will raise $2.6 million, which is to be repaid in two years with either cash or stock, at the company's option. This offer will enable the company to produce a minimum of $90 million of sales revenues, which should produce $20 million at the pre-tax profit line.
IPVoice.com is the developer and producer of unique proprietary state-of-the-art software and hardware solutions for use in IP Telephony. IPVoice.com's premier product is an Internet Gateway named ''TrueConnect(tm)'', a fully Y2K compliant gateway that allows user 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 (Nasdaq:VOCLF - news) and other Voice over the Internet services such as the ones offered by IDT (Nasdaq:IDTC - news) and NetSpeak (Nasdaq:NSPK - news).
This material was prepared by Buying Power Network (''BPN''), for the
company discussed herein, based upon information supplied by the client or other sources believed to be reliable. The company's actual results could differ materially from those described in the forward-looking statements discussed in this press release. This material is for information purposes and should not be construed as an offer or solicitation of an offer to buy or sell the securities. BPN, its affiliates, and/or its officers, directors, and employees may from time to time have a position in these securities. BPN has received
compensation for preparation of this press release.
For further information contact: IPVoice at 800/556-2583 or visit their website: www.IPVoice.com |
