IPVoice Communications Inc. and TekVoice Communications Inc. Launch Latin America Merger and Acquisition Campaign.Business Editors/High-Tech Writers
DALLAS--(BUSINESS WIRE)--June 9, 2004
Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. Joint Venture Kicks Off with $3 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 Revenue and $20 Million in Sales Revenue under Letter
of Intent for Acquisition
IPVoice Communications, Inc. (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). :IPVO) and TekVoice Communications, Inc. announced today a Latin America merger and acquisition campaign that is part of an overall plan to duplicate the IPVoice business model in the Latin American market.
IPVoice and TekVoice have worked in partnership for more than a year selling IP communication products and services specifically designed for the Latin American market. Recently, the two Companies agreed to convert an IPVoice note into a twenty percent equity stake in TekVoice. IPVoice had previously provided debt financing Debt Financing
When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay to TekVoice to support the joint Latin American market development.
Currently TekVoice Communications, Inc. serves an ever-growing Hispanic community in the U.S., and has carrier customers in Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and the Caribbean. Together, the two Companies intend to obtain a public listing for TekVoice by September 2004. TekVoice already has over $20 million in revenue under a Letter of Intent (LOI LOI Letter of Indemnity (international trade and carriage business)
LOI Letter Of Intent
LOI Loss On Ignition
LOI Letter of Inquiry
LOI Lack Of Information
LOI Lack of Interest
LOI Letter of Invitation
LOI List Of Items ) agreement for acquisition, in addition to a core $3 million revenue run rate. TekVoice will concentrate on strategic acquisitions specific to the Latin American market in Voice over Internet Protocol See Internet and TCP/IP.
(networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (VoIP), Online Banking and Electronic Security.
Mr. Henryk Dabrowski, 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. of Tekvoice, stated, "We are enthusiastic about duplicating the IPVoice business model for the Latin American market. In addition to helping TekVoice accelerate the process toward establishing an independent public listing, IPVoice will continue to provide TekVoice with support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services they have delivered to TekVoice over the last year. We, of course, see the recently acquired subsidiary in Latin America, RKM RKM - Rom Kernel Manual IT Solutions, as a valuable addition to IPVoice's overall value as a Latin America business partner."
"We believe small companies are the best platform for funding new technologies and winning the initial sales for those new technologies," stated Philip Verges, CEO of IPVoice. "Small companies can provide investors exceptional return potential for these first-to-market successes, whereas the first-to-market success in a larger company is likely to have a minimal impact on stock appreciation. That is provided the larger company can even overcome typical corporate bureaucracy and realize that first-to-market success. With our 20% equity stake in TekVoice, this initiative with TekVoice is intended to expand the overall opportunity for IPVoice shareholders to benefit from first-to-market opportunities in keeping with a small company approach."
About TekVoice Communications, Inc.
TekVoice Communications, Inc. was founded in 2002. It currently provides services in Miami, Fla. and Dallas, to a large number of Hispanic corporate and residential customers. It also provides a complete outsourced billing and call accounting solution to small and medium carriers, with full support for VoIP and WiFi services, as well as providing wholesale carrier services and technologies. Its current market footprint covers almost all countries between Mexico and Argentina, including the Caribbean. (www.tekvoice.com)
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
See: New York Stock Exchange :Q). The Company recently acquired Medical Office Software Inc., diversifying its communications technology offering into the healthcare industry. RKM 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.