VANCOUVER, British Columbia, Oct. 13, 2004 (PRIMEZONE) -- VoIPMDU.COM (Pink Sheets:VPMD) today announced several new developments involving its financing activities and the worldwide marketing of its VoIP telephone bundles.
The Company is currently proceeding with a corporate audit, which will enable it to become a fully reporting company as per exchange requirements and is also the initial step for financing arrangements required by Ascot Investments to structure a series of tranches totaling $ 5,000,000 USD. (See Press Release dated September 16th, 2004, VoIPMDU.COM Engages Ascot Investments To Structure $ 5,000,000 USD Investment . . . "). In conjunction with this release, the Company will delay the amalgamation of Unity Voice's VoIP package features until early 2005. (See Press Release dated September 15th, 2004)
"For the time being, we're quite satisfied with our Platinum Package which provides our subscribers with free worldwide calling to our other subscribers, 16 hours per month of North American calls and access to discounted international rates of up to 70%," stated Richard Kipping, Chairman & CEO. "The platform combining all of the features of both companies will take us slightly more time than we originally calculated," he added.
In another financing opportunity development, the Company has been approached by a prominent European investment group with an additional $ 10,000,000 USD financing proposal, which would include a dual listing on a European exchange. This revenue would greatly assist the Company in fast tracking its current projects, as well as expanding into the lucrative European market. This would also include several European sports event pay-per-view opportunities.
VoIPMDU.COM is now focusing on its previously announced projects, including the Points.com Project (See Press Release August 20th, 2004) involving the marketing of its VoIP suite of products to more than 400,000 current loyalty points subscribers, scheduled for a November 15th, 2004 launch; the marketing of a VoIP link to Vietnam to 400,000 California customers (See Press Release dated July 7th, 2004), scheduled for a launch in the spring of 2005; and, a rapid expansion of the Company's pay-per-view activities (See Press Release dated June 28th, 2004.) This involvement would feature a focus on the mushrooming pay-per-view sports event industry throughout Canada (junior level hockey) and the professional hockey leagues in Europe, which are now filling the void left by the lockout/strike in the National Hockey League.
The Company will not proceed with its previously announced acquisition of Sports, Entertainment & Leisure Inc. (See Press Release dated June 15th, 2004). After the required due diligence, it was felt that the project was not financially viable for the time and revenues required.
VoIPMDU.COM (www.voipmdu.com) is a broadband telecom company offering local and long distance VoIP services, video on demand and pay-per-view services to consumers, business owners and multiple dwelling unit buildings with its joint partner, INSINC (www.insinc.com). The two companies offer turnkey solutions for all of their voice/video/data applications including a state-of-the-art billing platform. For more information contact Richard Kipping at 604-723-8750 or email at info@voipmdu.com.
Safe Harbor:
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.