CHVC Anticipates Continued Growth in 2008-Provides Progress Report and Highlights for 2007 |
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China Voice Holding Corporation
327 Plaza Real
Boca Raton, FL, 33432
USA
Press release date: January 9, 2008
Boca Raton, Florida - January 9, 2008 - China Voice Holding Corporation (CHVC) (OTC:CHVC-News), announced today a progress report and recap of highlights for 2007 to its shareholders.
CHVC's President and CEO Bill Burbank said, "We are grateful to our shareholders, employees and business partners for their support, hard work and confidence in our Company and management team during the past year. Without their commitment to CHVC, none of our progress would have been possible. We are looking forward to continued success and a very strong 2008."
2007 China Recap and Highlights:
Throughout 2007, CHVC announced multiple advances and new contracts that were won through the Company's two Chinese Subsidiaries, Beijing CandidSoft Technology Co. Ltd. (CandidSoft) and Beijing Techview System Engineering Co. LTD (BTSE).
The challenge that the Company faced going into 2007 with Candidsoft was funding the multiple Government Contracts that it had won. During 2007, CHVC is pleased to report that the Company was able to:
o Fund and supply all DELL Servers required to support all its current Government contracts.
o Partner with InterEdge Technologies for the supply of all VoIP Telephony hardware required for all current and future Government Contracts. This relationship eliminated the need for CHVC to raise approximately $8 Million to fund the telephony hardware required to deploy its current contracts alone.
o In cooperation with Beihang University, CHVC developed and deployed its own Carrier Grade VoIP Switch as well as integrated it into the Company's patented SKY O/A Office Automation platform. This saved the Company over $5 Million on 3rd party licenses for its current contracts.
o Began deployment and installation of its SKY O/A voice and data solution for its 5 Chinese Government Contracts. CHVC's current contracts call for the installation of 103,000 seats with an estimated annual revenue of $30 Million.
o Signed Agreements with China's 2nd largest Telecommunications Carrier, China Netcom (CNC) to provide CHVC with preferential rates and cooperation. In addition, China Netcom has chosen Candidsoft's SKY O/A voice and data solution which is being private labeled and sold to the private sector. China Netcom's initial budget for SKY O/A software licenses is $6.5 Million through June, 2008.
o Signed Partnership and Revenue Sharing Agreement with China's Premier Agriculture Network e-Information Provider for China's 800 million farmers. The partnership and revenue sharing agreement with Golden Agriculture Access, doing business as www.agri.com.cn (AgriAccessCn), is for the supply of CandidSoft's SKY O/A Enhanced Services Platform and to manage the transition from an informational website like "GOOGLE" to one that creates significant transactional revenue much like "EBAY." Candidsoft's SKY O/A(TM) solution includes hosting, managed services, systems hardware and application software to support e-information access and e-commerce services. CHVC anticipates multiple revenue sharing streams from the contract, including VoIP telephone services, unified messaging, video conferencing, wireless broadband and other advanced voice and data services, membership fees, payment gateway, logistics commissions, traditional advertising revenues and transaction-based E-fees. AgriAccessCn's website currently receives over one million clicks per day and is growing; it has over 200,000 members and 700 station managers who post and provide updates regionally throughout China daily. AgriAccessCn has 69 pages of customized functions and a database of 19,000 local network, 18,000 information distribution stations and 20,000 agriculture community agents in 40,000 villages. The Company's service covers 760,000 villages, 40,000 counties, 2,800 districts and 300 major cities.
o Moved Beijing Candid Soft Technology Co. Ltd. corporate office to new offices within the Datang Telecom Campus, Research Building, in Beijing, China and added a new branch office to support its Government contracts and CNC business in the city of Nanning, Guang Xi Province.
o Set-up and registered Vastland Holdings (Beijing) Co. Ltd., a Wholly Owned Foreign Enterprise (WOFE) within mainland China. The WOFE is a legal entity that makes it much easier for U.S. based companies to operate within China.
o Achieved funding milestones to support Chinese Government contracts and other on-going programs.
2007 U.S. Recap and Highlights:
Throughout 2007, CHVC announced multiple advances and new contracts that were won through the Company's two Chinese Subsidiaries, Beijing CandidSoft Technology Co. Ltd. (CandidSoft) and Beijing Techview System Engineering Co. LTD (BTSE).
CHVC acquired three companies as well as started two new subsidiary companies. During the last few of months of 2007, the Company also has been aggressively pursuing the acquisition of or exclusive supplier relationships with multiple companies in the Prepaid Calling Card and Prepaid Cellular distribution business. CHVC expects to solidify these relationships during January, 2008 and during the first quarter of 2008 add a minimum of $50 million in annual sales to its U.S. operations.
Current U.S. Operations:
o DTNet Technologies, Inc. is a value-added distributor of advanced broadband products and services. DTNet Tech recently moved from Clearwater, FL into a new Corporate Center location in Tampa, Florida near the airport. CHVC expects significant growth from this subsidiary, as CHVC was recently able to properly fund the operation. More information may be found at www.DTNetTech.com.
o CVC International, Inc was started in January, 2007 and is a Florida-based provider of telecommunications services to CLEC's, ISPs, IXC's, PTT's, Cable companies, large Call Contact Centers and other communication Service Providers. CVC International's focus is to provide high quality and large volume international routes at competitive prices to its customers. During recent months, the Company has added veteran personnel, purchased rather than rented its switch and billing platform and has projected that it will achieve $3.5 Million during 2008. More information may be found at cvcintl.com.
o Phone House, Inc. and Dial Tone Communications are Distributors of Prepaid Calling Cards and Prepaid Cellular products. Both companies were acquired during the summer of 2007. Phone House, Inc. and Dial Tone Communications have moved into a new, secure and larger facility to better serve their wholesale customers approximately two blocks from the old location of Phone House, Inc. in Artesia, CA. In December, 2007, CHVC established StarCom Alliance, Inc. a Florida corporation, as a Master Distributor of prepaid Calling Card and prepaid Cellular products.
o CHVC has completed the sale of the CVC TALK platform. CHVC recently made the decision to discontinue its U.S. retail subscriber based residential VoIP offering (CVC TALK) primarily because it could not offer Chinese telephone numbers outside of China.
Corporate News Update:
o Annualized gross revenues are currently running at approximately $35 Million and growing.
o CHVC has hired an industry veteran to assist our Corporate Executive Team as Chief Operating Officer. The Company will issue a formal detailed announcement in early January. In addition, CHVC is currently interviewing various bi-lingual English/Chinese accounting personnel to support its growth in the U.S. and China.
o Financial Audit update: As previously announced CHVC is going through financial audits to become fully reporting and move to another exchange. The Company has made significant progress in this regard and had hoped to have the Audit completed in December. Because of holidays in the U.S. and during the coming weeks in China, the Company expects to have the Audit completed during the next 4 to 6 weeks. Ron Allen, CHVC's CFO, is managing all audit matters and may be reached at the Dallas office at (972) 248-2665.
About the Company:
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 chvc.com.
Contact:
Investor Relations: Jack Eversull The Eversull Group, Inc. Jack Eversull 972-378-7917 972-378-7981 (fax)
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