PORTLAND, Ore., Aug. 19, 2005 (PRIMEZONE) -- VoIP Labs Holdings, Inc. (Pink Sheets:VPBH) announced that the Company's preferred shareholders who exercise voting control have executed an effective rescission of the acquisition of POPstar Communications Inc & all wholly and partially owned subsidiaries. VPBH cites POPstar's inability to close and deliver standard medallion stamped stock certificates and stock tacking agreements as called for in the Memorandum of Understanding.
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 is headquartered in Portland, OR.
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") and all wholly owned or majority owned subsidiaries 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.