StockTalkJournal: Who is China Voice?
BOCA RATON, Fla.–China Voice Holding Corporation, announced today that it has entered into a partnership and revenue sharing agreement with China Netcom. The previously announced original agreement has been amended to provide for a true partnership with CHVC. The changes to the agreement include the use of allocated funds originally targeted for Candidsoft Software licenses to be used to provide connectivity, network expansion, installation, billing, collection and on-going support of CHVC’s government contracts. The initial phase of the new agreement is for the GuangXi Autonomous Region where CHVC has contracts for the installation of its SKY O/A integrated Office Automation and VoIP solution to approximately 55,000 seats, or over half of its current contracts which consist of 103,000 seats. China Netcom’s private label version of SKY O/A will be marketed following the installation of CHVC’s government contracts.
CHVC’s President and CEO, Bill Burbank said, “This is a major win for CHVC. China Netcom began installing our government contracts this week and is responsible for all costs associated with the Data Center, hosting of our application, internet connectivity, installation, billing, collection and first level customer support. China Netcom branded its services for this project as ICT Business. CHVC is responsible for providing, monitoring and maintaining its SKY O/A application and servers, the supply of VoIP end devices, and continuing education for technical and installation training of China Netcom personnel. This agreement does three major things for the company; it enables CHVC to rapidly deploy its SKY O/A contracts within China which dramatically improves the rate at which CHVC can achieve recurring revenue targets, it virtually eliminates the front-end out-of-pocket expenses associated with the application hosting, installation, and on-going support of our contracts and it ensures quality of service (QOS) to our customers.”
Burbank added, “We are very much focused on taking advantage of our enormous opportunity in China for the benefit of CHVC shareholders. With this revised China Netcom contract, our projected revenue numbers of $49.8 million for 2008, 167.1 million for 2009, and $327 million for 2010, have now been further solidified.”
China Netcom is China’s number two broadband communications and fixed-line telecommunications operator. CNC employs over 140,000 people, trades on the New York and Hong Kong Stock Exchanges and has annual revenues approaching $12 billion. China Netcom services every Province in China. In the Beijing Municipality, Tianjin Municipality, Hebei Province, Henan Province, Shandong Province, Liaoning Province, Heilongjiang Province, Jilin Province, Neimenggu Autonomous Region and Shanxi Province, CNC is a dominant provider of fixed-line telephone services, broadband and other Internet-related services, as well as business and data communications services.
CandidSoft is an international software company based in the Zhong-Guan-Cun Science and Technology Park in Beijing, China. CandidSoft has used local expertise to research, develop, and establish information and communication platforms for business and government applications. CandidSoft uses “SKY O/A” as the product trademark and separates products into three general categories: O/A Cooperative Office Solutions, O/A Integrated Office Solutions, and O/A Unified Processing Solutions. The Company provides office automation and integration services to government, academic and commercial customers and has developed China’s first patented Office Automation application, in large part guided by the needs of Chinese Government Agencies. This platform was designed for flexibility and may be easily modified or extended to meet the specific needs of each Chinese Government Agency or Large Enterprise Company. SKY O/A™ uses a web-based technology and allows multiple workers to collaborate on a single project. The SKY O/A™ Office Automation platform currently supports over one million users within China.
China Voice Holding Corp. (”CHVC”) is a U.S. public holding company headquartered in South Florida with a portfolio of next-generation communications products and services doing business in the People’s Republic of China and the U.S. Through its subsidiaries, the Company provides Voice over Internet Protocol (”VoIP”) telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services in China, where the Company has obtained full legal status as a licensed telecommunications company. The Chinese telecommunications market is the largest and fastest growing in the world. CHVC’s focus is on providing its innovative and patented voice and data solutions to government agencies and large enterprises in China. China Voice Holding Corp. trades Over-the-Counter and is listed in the Pink Sheets under the symbol “CHVC”. Upon obtaining audits of prior fiscal years, the Company plans to file with the Securities & Exchange Commission (”SEC”) to become a full-reporting company, at which time it will apply for a listing on the NASDAQ or the AMEX; and is on schedule to complete these filings in early 2008. Prior to the filing of periodic reports to the SEC, the Company is providing publicly-available financial statements and other current information at the pinksheets.com website. Additional information may be found at www.chvc.com.
Forward-Looking Statements
The foregoing, including any discussion regarding the Company’s future prospects, contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company’s actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company’s anticipated filings with the Securities and Exchange Commission.
Contact:
The Eversull Group, Inc.
Jack Eversull, 972-378-7917
972-378-7981 (fax)
jack@theeversullgroup.com
ir@chvcmail.com
Source: China Voice Holding Corporation
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