Company is focusing on improving fundamentals, increasing sales, reducing operational expenses and increasing income
CHICAGO, May 23, 2018 (GLOBE NEWSWIRE) -- Epazz, Inc . (OTC: EPAZ), a leading provider of cloud-based business software solutions, has reported its unaudited first quarter results for 2018. The company reported revenue of $474,145 compared with $473,974 for the first quarter of 2017. The company reported a net income of $15,050. This is a substantial turnaround in the company’s financial position. Additionally, the company’s interest expense has substantially decreased, dropping from $73,462 for the first quarter of 2017 to just $34,771 for the first quarter of 2018.
Epazz, Inc.’s CEO, Shaun Passley, Ph.D., said, “Our valuation in the marketplace is not reflecting our true value. We expected our new versions of our cloud business software to assist in growing our revenues and increasing our profits.”
“As we go on in 2018,” continued Passley, “we expect our Zenapay and other blockchain apps to begin to generate revenues. Zenapay is our blockchain payment solution for companies to accept cryptocurrencies like Bitcoin and Ethereum.”
In October 2017 and prior to Zenapay’s release, the company announced that it saw an opportunity for Zenapay in fantasy sports. The Supreme Court recently decided to allow states to legalize sports betting, so there is now a major opportunity to push forward with plans to add fantasy sport features and functionality to Zenapay and other blockchain apps such as Tap Bitcoin.
Future Features Releases
Fantasy Sport Module
The Zenapay development team is working on adding fantasy sport features into its wallet. The Tap Bitcoin game will include the software in development for Zenapay.
Vendor and Payroll Payment Solution
ZenaPay’s development team is also working on a vendor payment solution that will allow merchant businesses to pay vendors and employees using cryptocurrencies.
Future features will include the following:
- An e-commerce store
- Seed-to-sale tracking
- Sales reporting and compliance
About ZenaPay ( www.ZenaPay.com ) ZenaPay is being developed to solve a major problem in high-risk industries: getting paid. Traditional banking systems do not allow high-risk industries to access their payment systems. ZenaPay offers a cutting-edge payment solution that gives consumers a way to buy items online or in stores using Bitcoin. The new Bitcoin payment software will allow consumers to use digital currency to make online or in-store purchases with ease. The process will also be anonymous because all transaction details are encrypted through Bitcoin, which will enable stores to accept digital currency instead of only cash. ZenaPay is available on the App Store and Play Store.
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 otherwise need to purchase separately. Epazz's other products are DeskFlex™ (a room scheduling software ) and DeskFlex™ (an applicant-tracking system ).
SAFE HARBOR
"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 can generally be identified by the use of forward-looking statements such as "may," "expect," "intend," "estimate," "anticipate," "believe" and "continue" (or the negative thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those 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, Inc. assumes no obligation and has no intention of updating these forward-looking statements, and it has no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz, Inc.’s public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC markets filings, which contain general business information about the company’s operations, results of operations and risks associated with the company and its operations.
For more information, please contact:
Investor Relations
mailto:investors@epazz.net
(312) 955-8161
www.epazz.com
