Voiceserve Announces Q2 FY'08 Revenue Increased 44% SequentiallyTuesday November 27 12:48 AMVoiceserve CEO Michael Bibelman said, "This was our first quarter reporting as a public company. Although the cost of being public has placed an additional expense burden on our company, we are now able to access the capital markets in order to meet the growth demands we are seeing in our industry. We believe our unique business model will allow us to offer tremendous cost-savings to our customers seeking reliable high quality global phone service." President and Chairman Alexander Ellinson said, "We are very encouraged with the increase in revenues. An impressive approximate 12,000 subscribers have already downloaded Voiceserve's PC-to-phone software. As we continue forward with our business, following the imminent purchase of VoipSwitch Inc., we expect dramatic increases in sales maintaining the momentum through our wide range of products to hit approximately $7 million in revenues by the end of December 2008." The company reported increasing autonomy from reliance on any single dealer. In the six months ended September 30, 2007, one United Kingdom dealer accounted for 19.4% of total operating revenues and one Middle East dealer accounted for 18.5% of total operating revenues, as compared to the six months ended September 30, 2006, where one United Kingdom dealer accounted for 35.6% of total operating revenues. About Voiceserve, Inc. Voiceserve is a UK-based provider of low-cost Pay as You Go and prepaid cell phone services via the Internet to customers primarily in Africa, Europe and the Middle East. Products include Voice over Internet Protocol (VoIP) airtime minutes bundled with optional convenient features, including virtual numbers, direct dial, web callback, call forwarding, Softphone and no roaming. Customers can purchase local virtual numbers, from 29 countries with as many as 50 different cities in a single country, on one VoiceSIM card. Access to Voiceserve's network allows customers savings on average up to 85% on international calls. Voiceserve is in the process of launching its VoiceSIM that will dramatically reduce mobile phone bills for international travelers because users will be exclusively on the Voiceserve network and will not incur roaming rates through other networks. The VoiceSIM can be used from 120 countries and offers free roaming in more than 72 destinations throughout Africa, Asia, Europe and the Middle-East. Voiceserve expects to open satellite field offices in the Middle East and Africa. Additional offices are planned for Belgium, Holland, Israel, South Africa, Switzerland and the U.S. For more information, visit http://www.voiceserve.com. An investment profile about VSRV may be downloaded at http://www.hawkassociates.com/vsrvprofile.aspx. Other information for investors including free e-mail alert notifications, are available at http://www.hawkassociates.com and http://www.americanmicrocaps.com. For investor relations information, contact Ken AuYeung or Frank Hawkins, Hawk Associates, at 305-451-1888, e-mail: info@hawkassociates.com. Safe-Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Contact: Voiceserve, Inc., London Alexander Ellinson, President, 00 44 208 136 6060 Fax: 00 44 207 900 2203 http://www.voiceserve.com or Investor Relations Contact: Hawk Associates, Inc. Frank Hawkins and Ken AuYeung, 305-451-1888 E-mail: info@hawkassociates.com http://www.hawkassociates.com |
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