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Last $0.10 USD
Change Today 0.00 / 0.00%
Volume 184.5K
As of 8:10 PM 10/9/15 All times are local (Market data is delayed by at least 15 minutes). inc (VPLM) Key Developments

Voip-Pal.Com Inc. Appoints D. Barry Lee as Chief Financial Officer

Voip-Pal.Com Inc. announced the appointment of D. Barry Lee as Chief Financial Officer. Mr. Lee has over 30 years of experience working with public and private companies with particular expertise in financial management, mergers and acquisitions, and public company compliance. Lee will oversee the audit and will also handle due diligence inquiries for the company.

VOIP, Inc. Announces Change of Directors

VOIP, Inc. announced that Dr. Thomas Sawyer has resigned as a director. The company's in-house counsel, Dr. Ryan Thomas has been appointed to serve on the board of directors in his place. Dr. Ryan Thomas has served as Voip-Pal's in-house counsel for the past two years. He has been practicing law since 1979 and has over 35 years experience as a litigator. Over the course of his career he has served on many business and professional boards and held several key administrative positions. He is also a teacher of law and business.

VPLM Eyes Acquisitions

VOIP, Inc. (OTCPK:VPLM) is looking for acquisition opportunities. Emil Malak, Chief Executive Officer of VPLM, stated, "We are confident that our technology is such that whichever company acquires our patent suite will hold the keys to controlling VoIP calling. The Board knew that selling the Company is not something that happens overnight. We have taken all necessary steps in order to conclude a possible acquisition and continue to work towards achieving this goal. I believe that the present depressed share value does not properly reflect the tremendous upside that Voip-Pal technology and patents will provide the purchaser." Announces Management Changes Inc. announced that due to personal reasons Dr. Thomas Sawyer has stepped down as Chairman and CEO of Voip-Pal. Dr. Sawyer will remain with the Company as a Director and will oversee specific projects. Vice-Chairman Colin Tucker has been appointed Chairman of the Board. Majority shareholder and Special Advisor to the Board of Directors Emil Malak has been appointed to the Board of Directors and named CEO. Dr. Tucker was a founding member of Orange plc, a company he helped grow into a mobile network leader, generating billions in annual revenues and operating in six countries. Orange was sold to France Telecom for GBP 25 billion (approximately $38 billion). Dr. Tucker has served as a Director and CEO of Hutchison 3G where in 2003, he oversaw the deployment of the first 3G mobile network in the UK. Newly appointed CEO, Emil Malak is the larger single shareholder of Voip-Pal stock. He was a co-founder of Digifonica in 2003 and oversaw the development of the patents which were acquired by Voip-Pal in 2013. Mr. Malak also serves as Chairman of the Board for a biotech company currently conducting cancer research in Germany. Announces Aggressive Continuation of Initiatives Aimed at Securing Patent Licensing Agreements and Monetizing its Intellectual Property Inc. announced they have renewed initiatives geared towards securing non-exclusive licensing agreements for its proprietary patent suite of VoIP related intellectual property. Management has begun the process of notifying targeted companies of highly probable and perceived past, present and potential future patent infringement. Each of the targeted companies will receive written notification from Voip-Pal attorneys and given an opportunity to negotiate a non-exclusive licensing agreement. Failure to secure proper licensing of Voip-Pal's technology will result in legal action initiated by Voip-Pal in order to fully protect the integrity of its intellectual property and the best interests of its shareholders. Management is hopeful that companies receiving these notifications will give Voip-Pal's intellectual property the same level of respect and consideration as they demand for their own. The company has identified four telecommunications sectors in which they consider their patented technology has been and is currently being utilized, Cell Phone Operators, Internet Providers, Hardware Vendors, and Social Network Providers. Voip-Pal management strongly believes its patents are foundational to the future of VoIP and will play a key role in the expansion of Internet telecommunications. The Board of Directors has spent much of the past year developing a business plan for monetization of its patents while simultaneously discussing the prospects of being acquired directly with potential interested suitors. Pursuing non-exclusive licensing agreements is a concurrent effort in which Voip-Pal is engaged, along with their ongoing activities to realize the main objective of selling the Company. Voip-Pal remains in discussions with potential buyers and hopes to provide its shareholders an acceptable acquisition offer in the near future. Management feels Voip-Pal's value would be significantly enhanced by securing non-exclusive licensing agreements with companies in the aforementioned sectors. The company is also assisting Southbank Capital in their efforts to present Voip-Pal for sale to their existing relationships. Southbank has provided Voip-Pal with excellent exposure to key international groups that have expressed interest in acquiring the Company and its patented technology. Southbank's progress thus far is very encouraging. The Company hopes to provide shareholders with a report of this progress in the near future.


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