The Golden Lounge

[excel]

More reasons in bold why I think holding some IPVO long term is a good move.
Todays news with some insight to near future announcements.


IPVoice Communications Inc Opens in Latin America Adding $2 Million in Annual Revenue with Acquisition of RKM IT Solutions
1/29/2004 9:52:00 AM
IPVoice Aggressively Expanding into Developing Economies with Current Business Development in Venezuela, China and Southeast Asia

DALLAS, Jan 29, 2004 (BUSINESS WIRE) -- IPVoice Communications, Inc. ( IPVO ) and RKM IT Solutions of Caracas, Venezuela, today announced finalizing terms for the acquisition of RKM by IPVoice by March 1. CEO 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 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 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 ( CSCO ), Novell ( NOVL ), Sun Microsystems ( SUNW ), Computer Associates ( CA ), IBM ( IBM ) and Microsoft ( MSFT ). 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 of Qwest Communications ( Q ). IPVoice plans to acquire additional companies similar to Infotel and IP Global Voice.