RENO, Nev., Feb. 22, 2005 (PRIMEZONE) -- ICM Telecommunications Inc. (Pink Sheets:ICMH) reported today that its President & CEO, Doug Hamby, has issued the company's latest operational report to shareholders. The full text of his message follows:
February 22, 2005
Dear Fellow Shareholders:
During the month of February, ICM Telecommunications, after overcoming several operating roadblocks common to any early stage company, particularly with a newly launched business plan, began selling its stored value debit cards. At this time, we expect that by month's end the company will have put in operation approximately 15,000 to 20,000 cards, at an average revenue level of $4 per card.
In addition to our domestic working relationship with Ohio-based Sutton Bank, the company earlier this month was proudly able to commence offering international VISA electronic cards through the Global Bank of Commerce, headquartered in Antigua, in the West Indies. To better differentiate our product lines, especially since we may invest in telecommunications-related projects in the future, we have chosen to identify our card offerings as ICM Network, and set up a separate web site at www.icmnetwork.com where consumers may access a broad range of services.
Approximately 20 Independent Sales Organizations (ISOs) are helping us to penetrate stored value debit card markets internationally. The cards currently being issued are for users in Canada, the United Kingdom, Australia, the Philippines and China.
We anticipate revenues of $50,000 to $75,000 for the month of February 2005. Thereafter, we anticipate the March revenue level to approximate $150,000 to $200,000, and by April to be above $300,000 per month. This number should level out to some 50,000 cards per month issued, with residual income derived from the reloading of previously issued cards. A significant portion of new and re-occurring revenues will be reflected in our company's bottom line performance.
We sincerely appreciate the patience of shareholders as we work 24/7 to implement programs that hold the promise of significantly higher revenue levels on a monthly basis. During the fine-tuning periods the past six weeks, we are pleased to report that demand has remained constant, with no lost orders of any consequence, merely postponed.
Our sales partners believe in our program, and in the potential of ICM Network, to meet and exceed their needs, and we are especially grateful to our network of ISOs for their unflagging support of our exceptional product offerings in the debit card marketplace.
We intend to report regularly on significant new card program business, as well as its impact on our company's top and bottom line performance in the months ahead. We appreciate your continued support, and believe it will be handsomely rewarded as we move forward in executing our business plan.
Sincerely, Doug Hamby President & CEO ICM Telecommunications Inc.
ICM Telecommunications Inc. is the exclusive distributor of debit instruments through Ohio-based Sutton Bank and Antigua-based Global Bank of Commerce. ICM also is developing other international banking relationships to broaden the base of its suite of stored value debit cards worldwide. Stored value debit cards give card users several hundred thousand places where their cards can be immediately accepted and honored.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.