PORTLAND Ore., July 7, 2005 (PRIMEZONE) -- VoIP Labs Holdings Inc. (Pink Sheets:VPBH) subsidiary, POPstar Communications Inc., announced today it has completed a reverse stock split of 1:100. The Company now trades under symbol POPC.PK (Pink Sheets:POPC). Approximately 500,000 shares are issued and outstanding, approximately 50,000 are free trading shares. POPstar is audited by KMPG through Y/E 2004. The Company is taking steps to audit up to the present day.
About POPstar Communications Corp.
POPstar Communications Corp. (Pink Sheets:POPC) was established in 1998 to develop and market FoIP, VoIP products and services to Service Providers. In 2004 the Company launched a brand of Local IP phone services for residential and small business users in the Vancouver B.C. area. Customers of POPstar Communications Corp include Turner Construction, Merrill Lynch, General Motors Bell Labs and Halliburton Engineering & Construction. To learn more about POPstar please visit www.pop-star.net
About VOIP Labs Holdings Inc.
VoIP Labs Holdings, Inc. is a multi-national Internet Communications Holding Company developing cost-effective telecommunications through Voice over Internet Protocol (VOIP) technologies. The Company plans on targeting: 1) National fixed line II & III Tier carriers which are effectively competing with the dominant carrier in their marketplace, 2) Offering multinational corporations which need to have a western presence by having, (for example), a New York phone number ringing in their offices in Brazil or Frankfurt, 3) Offering immigrants in North America, a means of significantly lowering their communication expense with their relatives in their country of origin. The Company is headquartered in Portland OR with administrative offices in Vancouver. To learn more about VOIP Labs, please visit www.voip-labs.com
Forward Looking Statement
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of VOIP Labs Holdings Inc ("VPBH") that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry and in various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market; the timing of orders and manufacturing lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; the ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; increased competition in the networking industry; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters; the ability to recruit and retain key personnel; our ability to manage financial risk; currency fluctuations and other international factors; potential volatility in operating results and other factors listed in VPBH most recent reports. VPBH results of operations are not necessarily indicative of VPBH operating results for any future periods. Any projections in this release are based on limited information currently available to VPBH, which is subject to change. Although any such projections and the factors influencing them will likely change, VPBH will not necessarily update the information, since VPBH will only provide guidance at certain points during the year. Such information speaks only as of the date of this release.