CHICAGO, Feb. 26, 2013 /PRNewswire/ -- Epazz, Inc. (OTCQB: EPAZ), a leading provider of cloud based business software solutions has announced today that in the most recent quarter, Epazz reported a 50 percent and 32.5 percent increase in revenues respectively for the nine month period ending 30 September, 2012. Epazz, Inc. reported revenue of $856,248 versus revenue of $646,023 for the same period in 2011. Additionally, the Company's Asset value grew by 38% to $1,425,248 during the nine month period ending on September 30, 2012.
Additionally, Epazz reported that Project Flex, which is a patent pending new technology that will change the way cooling technology is used has passed all beta tests and is at the next stage which will lead to a spin-off of the new Company with a dividend being paid to shareholders.
An effective date of the spinoff will be announced to shareholders and the investment community soon. The Company is working through taking the Company public via an S-1 registration and Form 10 through the SEC. Through this method, 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.
With regard to growth initiatives, the Company is actively pursuing acquisitions that will be immediately accretive to the Company's revenue stream. A target company for the next acquisition has been identified and details regarding this possible acquisition will be forthcoming. Epazz has been increasing its global distribution channels and continues to search for suitable acquisitions.
Epazz, Inc.'s CEO, Shaun Passley, noted, "We are working on a new acquisition at this time. I expect to be able to announce more detail on Project Flex as well as the new acquisition in the near future."
Epazz, Inc. is in negotiations to acquire several other B2B software companies. Epazz, Inc.'s action is a clear reflection of its long term strategic growth plan to acquire profitable B2B software companies.
About Epazz Inc. (www.epazz.com)
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.
"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.