IPVoice Communications Inc Opens in Latin America Adding $2 Million in Annual Revenue with Acquisition of RKM IT Solutions.Business Editors/High-Tech Writers DALLAS--(BUSINESS WIRE)--Jan. 29, 2004 IPVoice Aggressively Expanding into Developing Economies with Current Business Development in Venezuela, China and Southeast Asia IPVoice Communications, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IPVO) and RKM RKM - Rom Kernel Manual IT Solutions of Caracas, Venezuela, today announced finalizing terms for the acquisition of RKM by IPVoice by March 1. 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. Philip Verges traveled to Caracas last week to review RKM financials and meet with employees and customers. The acquisition will add U.S. $2 million to IPVoice's overall annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue and contribute to IPVoice's overall $15 Million in forecasted annualized revenue by the end of first quarter 2004. The RKM acquisition is representative of IPVoice's overall efforts to establish a sales foothold in multiple developing economies. "IPVoice is working diligently to establish sales channels for emerging communication products in developing economic environments," states Philip Verges, CEO of IPVoice. "Developing economies have a high demand for new technology and minimal competition from incumbent brand name providers selling last generation solutions. Last week in Venezuela, through the hard work of the RKM team, we were able to identify a number of new substantial revenue opportunities in the sales pipeline. Next week we return to China where we are close to consummating our first business development opportunities from efforts started late last year. The following week we return to Singapore where we have recently enjoyed over U.S. $2 million in new sales and continue in our efforts to realize similar ongoing revenue growth." About RKM IT Solutions RKM is a sixteen year old systems integration and IT outsourcing services firm recognized in Venezuela and throughout northern South America Northern South America is a region in the continent South America. This region has a rich range of natural resources exploited to European explorers over the past couple of centuries. Most of the most populous cities, such as Bogotá, are located temperate conditions of the Andes. as a leading provider of voice, data and video network solutions, as well as systems and help desk support. Clients include the Top 50 international corporations in the country, as well as a strong presence in the Oil and Gas, Banking and Manufacturing industry. RKM is also a regionally certified partner for Cisco Systems (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ), Novell (Nasdaq:NOVL NOVL Novell, Inc. (stock abbreviation, AMEX) ), Sun Microsystems (Nasdaq:SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA) SUNW Stanford University Network Workstation (Sun Microsystems, Inc) ), Computer Associates (NYSE NYSE See: New York Stock Exchange :CA), IBM (NYSE:IBM) and Microsoft (Nasdaq:MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ). RKM has won the 2003 Microsoft Infrastructure Solution of the Year in Venezuela and has been recognized as a Gold Partner. The company is expanding its system integration and IT outsourcing services in the Caribbean, Colombia, Ecuador, Peru and Mexico. About IPVoice Communications Inc. IPVoice is a six-year-old company that has reported as a research and development concern for most of its history. In 2002, IPVoice launched a new business plan, which has resulted in the Company posting five consecutive profitable quarters and establishing an annualized $10 million in revenue. The Company is actively acquiring early-stage proprietary technology companies and financially distressed systems integration companies in specific global markets. In 2003, IPVoice acquired Infotel Technologies in Singapore and IP Global Voice, led by CEO Peter Geddis, a former Executive Vice President and 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. of Qwest Communications (NYSE:Q). IPVoice plans to acquire additional companies similar to Infotel and IP Global Voice. This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the risks inherent in the integration of Infotel Technologies into IPVoice Communications, Inc business, the ability of IPVoice to restore and stabilize the client base of Infotel and re-establish relationships with key suppliers, the development and market acceptance of the products and services of the combined companies, demand for the telecommunication and other products and related services, domestic and foreign government spending, budgetary and trade policies, economic and political changes in the domestic and international markets where the Company competes, successful deployment of advanced technologies, competitive product and pricing pressures as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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