IPVoice Communications Inc. Name Change to NewMarket Technology Inc. Accepted by the Secretary of State of Nevada
FRIDAY, JULY 09, 2004 11:43 AM
- BusinessWire
DALLAS, Jul 9, 2004 (BUSINESS WIRE) -- NewMarket Technology Inc. (IPVO) today announced receiving notification from the Secretary of State of Nevada that the name change to NewMarket Technology Inc. has been accepted. The Company will proceed immediately with submitting the approved name change to NASDAQ to affect a ticker symbol and CUSIP number change on the OTC Bulletin Board.
The corporate name change is part of an overall communication plan to convey the Company's expanding business in various market sectors. NewMarket Technology Inc. sells emerging communication technology solutions and services. NewMarket's initial technology offering is a Voice over Internet Protocol (VoIP) solution. Over the last six months the Company has added emerging communication technology offerings specifically for the healthcare and homeland security industries.
The Company generates additional revenue and exercises an economy of scale strategy by including a comprehensive emerging technology service and support offering as a critical component of the overall business plan. The Company has already won lucrative service contracts to support the emerging technology plans of high tech companies in addition to providing a cost effective support for their own emerging communication solutions.
"The name change reflects the Company's notable advances toward the 2004 business plan objectives of rapidly building its revenue base along with a focus on profitability," said Philip Verges, CEO of NewMarket. "We are already approaching the annualized revenue run rate previously announced as the year end objective. Recent organic sales and the profitability of pending acquisitions are accelerating the Company's profitability schedule. We also expect the ticker symbol and CUSIP change to interfere with suspected short stock sellers that are not complying with regulatory timeframe requirements to purchase stock to fill short positions. We encourage shareholders to contact their brokers and request a confirmation that IPVoice certificates have been replaced with NewMarket certificates once the ticker symbol change has been affected with the OTCBB. Please do not hesitate to contact the Company for more information."
About NewMarket Technology Inc. (www.newmarkettechnology.com)
In 2002, NewMarket (currently undergoing a corporate name change from IPVoice Communications Inc.) launched a business plan to continuously introduce emerging communication technologies to market. The plan included a financing model for early technologies and an approach to creating economies of scale through a specialized service and support organization intended specifically for the emerging technology industry. The Company posted six consecutive profitable quarters through 2003 and established an annualized $15 million in revenue. In 2003, NewMarket 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) . In 2004, the Company diversified its communications technology offering into the healthcare and homeland security industries with the respective acquisitions of Medical Office Software Inc. and Digital Computer Integration Corp. RKM IT Solutions of Caracas, Venezuela was also recently acquired as NewMarket'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 of 1995. Actual results may differ materially from those projected as a result of certain 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.
SOURCE: IPVoice Communications Inc.
NewMarket Technology, Inc., Dallas
Investor Relations, 972-386-3372 ext. 211
ir@ipvoice.com
www.newmarkettechnology.com
www.ipvoice.com
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.
Copyright (C) 2004 Business Wire. All rights reserved.
AI
