Epicus Communications Reports Second Quarter 2007 Results.WEST PALM BEACH, Fla. -- Epicus Communications Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :EPCG EPCG Elektroprivreda Crne Gore (Electric Power Industry of Montenegro) EPCG Elektropivreda Crne Gore (electric power utility of Montenegro) ) today reported results for its second quarter ended November 30, 2006. Revenues for the second quarter of 2007 were $2,207,000, compared to $2,571,000 in the first quarter of 2007 and $3,367,000 for the second quarter of 2006. Net loss for the second quarter of 2007 was $754,000 as compared to a net loss of $953,000 in the first quarter of 2007 and a net loss of $1,479,000 in the second quarter of 2006. Gross margin was 25% of net revenues in the second quarter of 2007, compared to 25% in the first quarter of 2007 and 19% in the second quarter of 2006. As of January 11, 2007, Epicus Communications had 21,885,000 common shares outstanding. In the second quarter of 2007, Epicus Communications entered into an agreement to acquire the long distance customer base of Lexitel Communications, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Under the terms of the agreement, Epicus Communications added additional Florida business and residential subscribers to its existing customer base. Also, Lexitel agreed to offer telecom services provided by Epicus Communications directly to its customers through Epicus Communications' agent program. Additionally, Epicus Communications issued $675,000 in convertible debentures to its primary institutional lender to improve its financial position and provide the company with working capital to further implement and refine its business plan. Epicus Communications' board of directors received majority consent to increase its number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of common stock to facilitate future capital raising opportunities. In recent months, Epicus announced the appointments of Richard Reiss as senior business development consultant and Kenneth Koller as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. (COO). Reiss supports Epicus Communications' management team and board of directors in areas of sales and marketing. Koller's initial focus as COO includes a product launch in January 2007 of two VoIP Internet phone service See VoIP. plans to business and residential customers and the completion of prior reorganization measures directed at narrowing operating costs operating costs npl → gastos mpl operacionales and expenses. Commenting on the second quarter, Mark Schaftlein, Epicus' CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said, "Our second quarter presented a number of operating challenges, yet we closed on a favorable note. Quarterly milestones included our Lexitel Communications agreement, which broadened our customer base, and progress in offering a VoIP Internet phone service, soon-to-be released." Schaftlein continued, "We welcomed additional talent to our team during the quarter. While we made headway on key cost management initiatives and increased our customer retention rate through a new program, we saw a modest revenue decline over our first quarter. Growing our business remains a priority in the current quarter and we aim to deliver improved top line results in the second half." ECG ECG electrocardiogram. ECG abbr. 1. electrocardiogram 2. electrocardiograph ECG Also called an electrocardiogram, it records the electrical activity of the heart. has filed its quarterly report for the period ending November 30, 2006 with the Securities and Exchange Commission pursuant to Form 10-QSB, which is available for free on the SEC's website at http://www.sec.gov. About Epicus Communications Group, Inc. Epicus Communications Group, Inc. operates as a telecommunications company See telecom company. that provides local and long distance services in 7 southeastern states. Epicus Communications, one of the first licensed CLECs in Florida, is a leader in offering bundled "one bill" local services. The company offers a full suite of telecommunication services for residential and small business customers through its Freedom Rings services brands. For additional business information, please visit http://www.epicus.com. This press release contains forward-looking statements that involve risks and uncertainties. Actual events may differ from forward-looking statements for a number of reasons as well as other factors discussed from time to time in our SEC filings (available on EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. or for free at www.sec.gov). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. All forward-looking statements included in this document are made as of the date hereof, based on information available to Epicus Communications Group, Inc. on the date thereof. |
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