Voip-Pal.com Inc. Announces Elimination of Fiscal
Post# of 94181
Posted On: 10/28/2013 6:31:31 AM
Voip-Pal.com Inc. Announces Elimination of Fiscal Year 2013 Debt
Voip-Pal.com Inc. (“Voip-Pal”, Company”) (OTC Pink: VPLM) is pleased to announce that it has eliminated over 95% of the Company’s debt which was accrued to fund its operating expenses and acquisition of Digifonica and its patent portfolio prior to the end of its fiscal year 2013. Elimination of the debt was completed without a significant increase in the outstanding shares from its current published total. The fiscal year-end financial report, which will be filed with OTC Markets, is currently being prepared by the company and is expected to be completed well in advance of the 60 day deadline of November 30, 2013. Additionally the company has secured a funding source commitment to provide any necessary working capital requirements for the first quarter of fiscal year 2014. Voip-Pal believes that beginning the new fiscal year with almost all prior debt cleared from the books greatly improves the Company’s overall financial condition, increases shareholder value, and improves Voip-Pal’s position as a potential acquisition candidate.
Dr. Thomas Sawyer, Chairman and CEO of Voip-Pal stated, “The Board and management of Voip-Pal are making every effort to ensure that the financial improvements of the Company keep pace with the issuance of its portfolio of disruptive patented technology. We are convinced this must be achieved to provide the optimum shareholder value in the Company.”
About Voip-Pal.com Inc.
Voip-Pal.com, Inc. (“Voip-Pal”) is a publicly traded corporation (OTC Pink: VPLM) headquartered in Bellevue, Washington. The Company owns a portfolio of patents relating to Voice-over-Internet Protocol (“VoIP”) technology that it is currently looking to monetize.
Corporate Website: www.voip-pal.com
IR inquiries: IR@voip-pal.com
IR Contact: Rich Inza (954) 495-4600
Voip-Pal.com Inc.
Rich Inza, 954-495-4600
Voip-Pal.com Inc. (“Voip-Pal”, Company”) (OTC Pink: VPLM) is pleased to announce that it has eliminated over 95% of the Company’s debt which was accrued to fund its operating expenses and acquisition of Digifonica and its patent portfolio prior to the end of its fiscal year 2013. Elimination of the debt was completed without a significant increase in the outstanding shares from its current published total. The fiscal year-end financial report, which will be filed with OTC Markets, is currently being prepared by the company and is expected to be completed well in advance of the 60 day deadline of November 30, 2013. Additionally the company has secured a funding source commitment to provide any necessary working capital requirements for the first quarter of fiscal year 2014. Voip-Pal believes that beginning the new fiscal year with almost all prior debt cleared from the books greatly improves the Company’s overall financial condition, increases shareholder value, and improves Voip-Pal’s position as a potential acquisition candidate.
Dr. Thomas Sawyer, Chairman and CEO of Voip-Pal stated, “The Board and management of Voip-Pal are making every effort to ensure that the financial improvements of the Company keep pace with the issuance of its portfolio of disruptive patented technology. We are convinced this must be achieved to provide the optimum shareholder value in the Company.”
About Voip-Pal.com Inc.
Voip-Pal.com, Inc. (“Voip-Pal”) is a publicly traded corporation (OTC Pink: VPLM) headquartered in Bellevue, Washington. The Company owns a portfolio of patents relating to Voice-over-Internet Protocol (“VoIP”) technology that it is currently looking to monetize.
Corporate Website: www.voip-pal.com
IR inquiries: IR@voip-pal.com
IR Contact: Rich Inza (954) 495-4600
Voip-Pal.com Inc.
Rich Inza, 954-495-4600
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