DALLAS, May 12, 2006 (PRIMEZONE) -- IElement Corporation (OTCBB:IELM) (Frankfurt:SZQ1) (Frankfurt:IELM), a nationwide provider of advanced communications services and Voice over Internet Protocol (VoIP) solutions, announced today that its fiscal fourth quarter (ending March 31) customer renewal and new sales numbers beat expectations for the third straight quarter and totaled $520,166. The company will earn this contracted revenue over the next 12-36 months and this amount does not represent or approximate the company's aggregate revenue in any particular quarter.
Renewing customers comprised a vast majority of the fiscal fourth quarter new sales and renewals for a total of $420,146. We believe this shows the customers' satisfaction with IElement's first class customer service and growing line of business solutions.
In addition to customer renewals, IElement secured $100,020 in contracted revenue with new customers during the quarter.
The customer renewal and new sales numbers do not represent or approximate IElement's revenue and are strictly to be used as an evaluation of how effectively the company is retaining customers and generating new business. The company will release its fiscal fourth quarter and fiscal year revenue numbers in its annual 10-K filing with the SEC in the coming weeks.
You can find other IElement news at www.ielement.com/news.htm.
About IElement Corporation
IElement is a facilities-based nationwide communications service provider that provides state-of-the-art telecommunications services to small and medium sized businesses ("SMBs"). IElement provides broadband data, voice and wireless services by offering integrated T-1 lines as well as a Layer 2 Private Network and VOIP solutions. These solutions provide SMBs with dedicated internet access, customizable business solutions for voice, data, wireless, internet, and secure communications channels between the SMB offices, partners, vendors, customers and employees without the use of a firewall or encryption device. IElement has a network presence in 18 major markets in the United States, including facilities in Los Angeles, Dallas and Chicago.
The IElement Corporation logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2233
This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our limited operating history; (2) our ability to pay down existing debt; (3) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (4) unforeseen costs and expenses; (5) potential litigation with our shareholders and/or former or current investors; (6) the Company's ability to comply with federal, state and local government regulations; and (7) other factors over which we have little or no control.
For more information on IElement, please visit www.ielement.com.