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Posted On: 04/07/2022 1:10:57 PM
Post# of 99259
$EPAZ Epazz Reports 28% Increase in Revenue and 1,168% Increase in EBITDA for 2021, Fueled by the DeskFlex Desk Booking Software That Will Launch the Metaverse Virtual Office Later This Year
https://www.globenewswire.com/news-release/20...s-Yea.html
CHICAGO, April 07, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Epazz, Inc. (OTCPINK: EPAZ), a leading provider of cloud-based business software solutions, announced today that it reported revenues of $1.9 million for 2021 compared to $1.4 million for 2020. It also reported a positive EBITDA of $102,000, compared to an EBITDA of $8,083 for 2021, an increase of 1,168%. The DeskFlex desk booking software, which will be launching its Metaverse Virtual Office later this year, fueled the increase in revenue.
The company started making operational improvements in 2020, and the results started to appear in 2021. The company has been consolidating the services and operations of its subsidiaries for its Chicago operations, resulting in cost savings. The company is also reinvesting its savings back into product development, including for its DeskFlex Metaverse and CryObo NFT technologies. These products will help increase revenue for 2022.
The global pandemic caused the demand for the DeskFlex desk booking software to skyrocket as small to large organizations rushed to implement hybrid work arrangements. However, the shift to remote work comes with reduced social interaction, leading to some employees feeling disconnected and isolated. As the pandemic endures, remote and hybrid work environments are expected to stay.
DeskFlex is developing a Metaverse Office to allow remote employees to work, collaborate, meet, and hold discussions in real time with other office employees. By logging into the DeskFlex Metaverse Office and wearing a virtual reality (VR) headset, remote workers can enter into a visual representation of their office and interact with their co-workers who are working from home as if they were there in person.
The key is the equipment. Current VR headsets are too expensive to be provided to every employee. Epazz is developing a VR Smart Glasses technology for under $100.00 so that every worker can enter into the Metaverse. Epazz’s low-cost VR headset solution will allow team members to experience a complete sensory involvement in VR and augmented reality office meetings or conferences. Epazz will use multiple webcams to create a 3D avatar of each colleague, and real-time conversations and interactions will be made possible through the lightweight VR headset.
“We are increasing our revenues and decreasing our costs, thereby creating a positive EBIDTA,” says Shaun Passley, PhD, CEO of Epazz, Inc.
https://www.globenewswire.com/news-release/20...s-Yea.html
CHICAGO, April 07, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Epazz, Inc. (OTCPINK: EPAZ), a leading provider of cloud-based business software solutions, announced today that it reported revenues of $1.9 million for 2021 compared to $1.4 million for 2020. It also reported a positive EBITDA of $102,000, compared to an EBITDA of $8,083 for 2021, an increase of 1,168%. The DeskFlex desk booking software, which will be launching its Metaverse Virtual Office later this year, fueled the increase in revenue.
The company started making operational improvements in 2020, and the results started to appear in 2021. The company has been consolidating the services and operations of its subsidiaries for its Chicago operations, resulting in cost savings. The company is also reinvesting its savings back into product development, including for its DeskFlex Metaverse and CryObo NFT technologies. These products will help increase revenue for 2022.
The global pandemic caused the demand for the DeskFlex desk booking software to skyrocket as small to large organizations rushed to implement hybrid work arrangements. However, the shift to remote work comes with reduced social interaction, leading to some employees feeling disconnected and isolated. As the pandemic endures, remote and hybrid work environments are expected to stay.
DeskFlex is developing a Metaverse Office to allow remote employees to work, collaborate, meet, and hold discussions in real time with other office employees. By logging into the DeskFlex Metaverse Office and wearing a virtual reality (VR) headset, remote workers can enter into a visual representation of their office and interact with their co-workers who are working from home as if they were there in person.
The key is the equipment. Current VR headsets are too expensive to be provided to every employee. Epazz is developing a VR Smart Glasses technology for under $100.00 so that every worker can enter into the Metaverse. Epazz’s low-cost VR headset solution will allow team members to experience a complete sensory involvement in VR and augmented reality office meetings or conferences. Epazz will use multiple webcams to create a 3D avatar of each colleague, and real-time conversations and interactions will be made possible through the lightweight VR headset.
“We are increasing our revenues and decreasing our costs, thereby creating a positive EBIDTA,” says Shaun Passley, PhD, CEO of Epazz, Inc.
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