News out today !! AND it's trading.......
Convergence Technologies Group Inc. UK Subsidiary Extends Sales Pipeline to over $2M
In the weeks between filing for quotation on Pink Sheets and approval, Convergence Technologies Group Inc subsidiary Voice 2 Voice Limited has further extended its sales pipeline to a value in excess of $2M.
The sales pipeline consists of contracts that Voice 2 Voice for which Voice 2 Voice has been asked to quote and is actively pursuing. The Company is forecasted to grow sales by 58% quarter on quarter following its Pink Sheets debut.
Voice 2 Voice Limited is a leading UK provider of converged communications solutions, and a partner to equipment suppliers Avaya and Splicecom. Established in 2003 by Warren Stroud the Company moved into profitability in June 2007 and has targeted controlled growth and expansion for 2007-2008.
Stroud comments “The significant extension to the sales pipeline that has been achieved in a manner of weeks underlines the future potential of the Group. Voice 2 Voice UK continues to grow month-on-month, quarter-on-quarter, delivering a profitable and stable base for future growth.”
Voice 2 Voice summary:
• Designs, supplies, installs, maintains and consults on specialist Converged communications systems for voice, date, mobile, video and line of business applications
• Profitable as of June 2007
• Voice 2 Voice turnover forecast to grow 58% July 2007 – September 2007, further 89% growth October 2007 – December 2007.
• Negligible debt, total of $35,833.56.
• Sales pipeline now valued in excess of $2M
• IDC Western European VOIP Applications forecast for Western European VOIP Market Value will be $2.25 billion by 2011.
A full corporate overview including current financial and sales pipeline information is available on the Investor Relations page at www.convergencetechnologygroup.com
For more information please visit
www.convergencetechnologygroup.com
To contact the company, please use the online contact form.
ENDS
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Convergence Technologies Group Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
