CHICAGO, Dec. 5, 2012 /PRNewswire/ -- Epazz Inc., (OTCQB: EPAZ) a leading provider of cloud based business software solutions announced today that Project Flex, which is a patent pending new technology that will change the way cooling technology is used is passing the initial tests and is well on track for completion. We will begin to move forward with the next stage which will lead us toward a spin-off.
Within the next few months, an effective date of the spinoff will be announced to shareholders and the investment community. By completing the S-1 registration and Form 10 through the SEC, Project Flex will have a clean publicly traded entity going forward. The spinoff of Project Flex will pay shareholders of Epazz's common stock a dividend initially and quarterly dividend from that point on.
"All of the tests with 'Project Flex' have been successful. We are ready to move to the next level which is beta testing which is actually already underway and securing the patent. We have a substantial business plan in place for the monetization of the project," said Shaun Passley, CEO of Epazz, Inc.
About Epazz Inc.
Epazz Inc. is a leading cloud based software company that specializes in providing customized cloud applications to the corporate world, higher education institutions and the public sector. Epazz BoxesOS™v3.0 is the complete business web-based software package for small to mid-size businesses, Fortune 500 enterprises, government agencies and higher education institutions. BoxesOS provides many of the web-based applications organizations would have to otherwise buy separately. Epazz's other products are AgentPower™, a workforce management software and AutoHire™, an applicant tracking system.
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"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking statements such as "may," "expect," "intend," "estimate," "anticipate," "believe," or "continue" (or the negative thereof) or similar terminology. Such forward-looking statements are subject to risk, uncertainties and other factors that could cause actual results to differ materially from future results or implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz assumes no obligation and does not intend to update these forward-looking statements and takes no obligation to update or correct information prepared by third parties that is not paid for by Epazz. Investors are encouraged to review Epazz's public filings on SEC.gov, including its unaudited and audited financial statements, and its Registration Statement, Form 10-K's and Form 10-Q's, which contain general business information about the Company's operations, results of operations and risks associated with the Company and its operations. Penny stock picks need to be research. Do your homework. Please review all of our filings.
SOURCE Epazz Inc.