IPVoice Communications Inc. Announces Chinese Joint Venture with $1 Million in Contracted Revenues.Business Editors/High-Tech Writers
DALLAS--(BUSINESS WIRE)--June 1, 2004
IPVoice and GaozhiSoft Open Office to Market
IPVoice Products and Services in China
IPVoice Communications, Inc. (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). :IPVO) today announced a joint venture to market IPVoice products and services in China. This joint venture comes after months of negotiations and business development. The joint venture will market existing IPVoice products and services and pursue the acquisition of Chinese high-tech firms to further expand the IPVoice product line. At the onset of this joint venture, GaozhiSoft has already secured contracts which would realize $1 million in 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. sales of IPVoice products and services. The initial contracts involve the customization and integration of telecommunications software. The two companies are currently working on a sales forecast Sales forecast
A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors. beyond the initial $1 million in revenue for release in the near future.
The joint venture calls for GaozhiSoft to represent IPVoice products and services in China for which GaozhiSoft will be paid a management fee. The joint venture also calls for the two Companies to jointly pursue and acquire Chinese emerging technology companies in a fashion consistent with IPVoice's existing strategy in the United States.
"We have been looking for Looking for
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a partner with which to build a merger and acquisition strategy empowered by the United States capital United States capital may mean:
"Finding the right partner in China is essential to any business strategy in China," said Philip Verges, CEO of IPVoice, "as it is culturally very important that business relationships are borne out of long term familiarity and trust. GaozhiSoft is an established and respected company in China committed to a business development and merger and acquisition partnership with a U.S. publicly traded company publicly traded company
A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . The courtship and mutual due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. has been thorough and in best interest of both Companies. With $1 million in initial annual sales around which to initiate this joint venture, this partnership is more than a piece of paper and wishful thinking wishful thinking Psychology Dereitic thought that a thing or event should have a specified outcome . We have high expectations for both organic sales growth and acquisition opportunities as we establish a local presence in China, one of the most rapidly growing markets in the world."
GaozhiSoft is a software engineering firm headquartered in Shanghai, China. GaozhiSoft specializes in communications software solutions for the Telecommunications industry. GaozhiSoft customers include notable incumbent Chinese Telecommunications Providers. GaozhiSoft is committed to expansion through merger and acquisition and selling GaozhiSoft products and services in the United States.
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 resulted in the Company posting six consecutive profitable quarters through 2003 and establishing an annualized $15 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 NYSE
See: New York Stock Exchange : Q - News). The Company recently acquired Medical Office Software Inc. diversifying its communications technology offering into the healthcare industry. RKM RKM - Rom Kernel Manual IT Solutions of Caracas, Venezuela was also recently acquired as IPVO's entry into the Latin American market.
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.