ALBUQUERQUE, N.M., Jan. 8, 2007 (PRIME NEWSWIRE) -- iPhone2, Inc. (Pink Sheets:IPHE) today announced an amicable settlement with Cynthia Estes, WardKim LLLP, and Jay Kim, thus resolving disputes between the parties. The parties have signed releases and dropped their respective complaints. Additionally, all disputes between Mr. Namer and Aicon Investments have been resolved and they have been relieved from any future liabilities.
Charles Greenberg, the Company's President and CEO stated, "All the parties involved felt it was in the Shareholders' best interest to settle this matter amicably rather than continue a prolonged litigation. With the upcoming release of new products, and completion of our audit iPhone2 is now well poised for substantial growth this year."
Ms. Estes stated, "With these issues behind us I am confident iPhone2 will grow to be a market leader in its industry."
About iPhone2, Inc.:
iPhone2, Inc. (www.iPhone2.com) (Pink Sheets:IPHE) is an innovative Voice and Video over Internet Protocol communication provider offering residential and business customers user friendly and affordable ways to communicate more effectively. Our proprietary ImagePhone allows customers to make and receive unlimited near broadcast quality video calls right from their computer desktop. They can also make VERY affordable voice calls worldwide to any telephone using our VoIP network ImagePhone was developed to be straightforward and user friend. OfficePhone2.0 replaces your old fashioned, expensive, complex PBX (or standard telephone service) with economical, reliable, and expandable feature rich IP phones. OfficePhone2.0 operates just like a regular phone, yet allows you to do things your old fashioned office phone could never do.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although iPhone2 believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be correct. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by iPhone2 or any other person that the objective and plans of iPhone2 will be achieved.