|
|
VoIP Completes Sales of
Certain Assets Owned By Its Dallas Division
Other topics: Mobile VoIP
Blocking, VoIP Rebate,
VoIP Assets
VoIP, Inc.
July 9, 2007
Company Receives $400,000 Plus Interest in Continuing Revenue
ORLANDO, Florida - VoIP, Inc. (OTCBB:VOII) announced today that it has
completed the sale of certain assets owned by its Dallas division for
$400,000 plus a percentage of the division’s continuing revenue over
the next three years. The division had revenue for the period ended
March 31, 2007 of $1,392,009 and a loss of $29,098. The sale to WQN,
Inc., a Texas corporation, includes EasyTalk and RocketVoIp, two of
the division’s communications brands, but excludes the intellectual
property owned by the division. |
| |
|
| |
“This transaction
supports our continuing restructuring efforts to divest the Company of
unprofitable units or businesses that are not part of our strategic
focus,” said Anthony J. Cataldo, VoIP, Inc.’s Chairman and CEO. “The
sale will allow us to strengthen our balance sheet, improve operating
results and enhance management’s ability to focus on expanding our
Network and increasing utilization.”
The Company expects to take a non-cash charge during the second
quarter to reflect the sale of the business.
About VoIP, Inc.
VoIP, Inc. is a leading provider of turnkey Voice over Internet
Protocol (VoIP) communications solutions for service providers,
resellers and consumers worldwide. The company is also a certified
Competitive Local Exchange Carrier (CLEC) and Inter Exchange Carrier (IXC).
Through its wholly owned subsidiary, VoiceOne Communications, LLC, the
Company provides a comprehensive portfolio of advanced
telecommunications technologies, enhanced services, broadband
products, and fulfillment services to the VoIP and related
communications industries. Current and targeted customers include IXCs,
CLECs, Internet Telephony and Conventional Telephony Service Providers
(ISPs and ITSPs), cable operators and other VoIP Service Providers in
the United States and countries around the world. The Company enables
these customers to expand their product/service offerings by providing
VoIP's nationwide Multi-Protocol Label Switching (MPLS) and other
services such as voice termination/origination, e911 emergency call
service for VoIP, CALEA, Broadband Voice, IP Centrex and other
advanced communications services and technologies. For information on
VoIP, Inc. please visit the company's web site: http://www.voiceone.com.
|
| |
|
