China Voice Holding Corp. Rebuilds U.S. Operations and Updates Shareholders
BOCA RATON, Fla., April 8 /PRNewswire-FirstCall/ -- China Voice Holding Corporation (CHVC) (OTC: CHVC), announced today that it has recently established two new subsidiaries to rebuild its U.S. infrastructure.
CHVC's President and CEO, Bill Burbank said, "Because of the fundraising difficulties that Flint Telecom Group, Inc. experienced during 2009 after acquiring six U.S. subsidiaries from our Company, we decided to aggressively rebuild our U.S. operations. Our focus is to quickly establish and acquire synergistic companies that have the ability to drive the company to profitability and enable us to leverage opportunities in China."
Today, in the United States, the Company engages in two related activities; as a provider of Prepaid Calling Products targeted at large ethnic group populations and as a provider of wholesale VoIP telecommunications services focused on selling international termination minutes to Carrier and other Service Provider customers.
Jose Ferrer, CHVC's COO stated, "In a little more than two months, we have ramped sales of our two initial U.S. subsidiaries to an annualized run rate of $6,400,000. With the introduction of the new and innovative prepaid calling products currently underway as well as the addition of new Master Distributors strategically located throughout the U.S., I expect this business to continue its rapid growth during this calendar year."
Burbank continued, "We are off to a good start in re-building a solid foundation from which to grow. We believe that in a short time our efforts will provide significant shareholder value and support. During the last few months we have been "quiet", and going forward we intend to frequently communicate the Company's progress to our shareholders. With this said, the Company expects to soon be in a position to update our shareholders on our business in China and a potential agreement from Flint Telecom Group to restructure and/or settle their debt to us."
China Voice Holding Corp. ("CHVC") is a U.S. publicly-traded holding company headquartered in South Florida with a portfolio of next-generation communications products and services doing business in the U.S. and People's Republic of China. Through its subsidiaries, the Company provides Voice over Internet Protocol ("VoIP") telephone services, office automation, wireless broadband, unified messaging, video conferencing, VoIP wholesale termination services, prepaid calling products and other advanced voice and data services. China Voice Holding Corp. trades Over-the-Counter and is listed in the Pink Sheets under the symbol "CHVC". CHVC files required financial and disclosure reports with the Securities and Exchange Commission. Additional information may be found at www.chvc.com.
Forward-Looking Statements
The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's anticipated filings with the Securities and Exchange Commission.
China Voice Investor Contact: |
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The Eversull Group, Inc. |
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Jack Eversull |
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972-571-1624 |
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SOURCE China Voice Holding Corporation
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