Message #40 From:
NewsBot Date: July 10, 2006 05:00:00 AM
ITUI News i2Telecom Awarded Contract for Products and Services with Global Voice Technologies; Agreement to Provide Products and Services to Over 8,000 Agents in More Than 60 Countries
ATLANTA--(BUSINESS WIRE)--July 10, 2006--i2Telecom International, Inc. ("i2Telecom(R)") (OTCBB: ITUI), a pioneer in ultra-portable high quality Voice-over Internet Protocol ("VoIP") products and services, announced today that it has entered into an agreement with Global Voice Technologies, ("GVT") under which i2Telecom has been appointed as the exclusive provider of VoIP services through GVT's global marketing network. GVT expects to have more than 8,000 agents in place prior to the end of the third quarter of 2006.
Under the terms of the agreement, i2Telecom will provide its current product and services on a white-label basis to Global Voice Technologies under the name "VoicePal(TM)". GVT plans to distribute VoicePal products and services through its global network of agents, commencing by the end of September, 2006.
The Chairman and founder of GVT is Don Rackemann, the former Chairman, Chief Executive Officer and co-founder of National Telephone Communications, a direct marketing organization that grew to over 400,000 agents and $160 million in annual long distance revenues within four years. Mr. Rackemann recently formed GVT to capitalize on his experience and expertise in direct sales.
GVT anticipates that it will have over 8,000 agents in place by the expected launch date for the VoicePal program. Through its agent base and shopping center kiosks program, GVT anticipates that over 750,000 subscribers will be generating annualized sales revenues of more than $75 million within the next twelve months. Through experience, the exponential growth of a direct sales organization is projected to recruit over 2 million VoIP customers by the end of the second year. i2Telecom anticipates it will receive a substantial portion of these revenues through global calling termination and product sales.
"After two years of researching global internet providers, we concluded that i2Telecom has, by far, the most impressive combination of services and backbone in the VoIP industry for the direct sales community," stated Mr. Rackemann. "This should allow us to achieve our goals for global expansion and revenue growth. i2Telecom has a scalable platform and the ability to devote the corporate resources that this hyper-growth opportunity demands."
"We are excited about the opportunity to work with GVT to deliver our offering to the global marketplace," stated Paul Arena, Chief Executive Officer of i2Telecom International, Inc. "Don views the current state of the VoIP industry as similar to the long distance industry when he founded National Telephone Communications, and he envisions a similar opportunity for aggressive growth. Having a well-funded customer such as GVT to manage a multi-national retail sales roll-out is very exciting for i2Telecom. GVT has fully funded the initial phase in the contract, which requires i2Telecom to complete the establishment of the white-labeled VoicePal service platform. We look forward to the strong revenue that is expected to flow from the productivity of GVT's direct sales organization."
About Global Voice Technologies
Global Voice Technologies, Inc. is a multi-national direct marketing Internet communications company committed to the development of cost-effective telecommunications utilizing Voice Over Internet Protocol ("VoIP") technologies. Using a global network of sales agents, Global Voice intends to offer consumers cost-competitive state-of-the-art communications products. For additional information visit www.globalvoicetechnologies.com or call Don Rackemann at 949-261-2060.
About i2Telecom International
i2Telecom International, Inc. (OTCBB: ITUI) is a pioneer in ultra-portable high quality Voice-over Internet Protocol ("VoIP") products and services employing best-of-breed VoIP technology. The Company has operations in Atlanta, Georgia and Redwood City, California, controls its own proprietary and patent-pending technology, and uses a combination of its own network and the Internet to deliver high-quality phone calls, streaming video and text chat. i2Telecom International provides VoiceStick(TM), InternetTalker(R), Digital Communications Portal communications and microgateway adapters for VoIP long-distance streaming video, text chat and other enhanced communication services to subscribers. Its proprietary technology platform is compliant with the Session Initiation Protocol ("SIP") telecommunications industry standard. i2Telecom International's revenue model includes recurring monthly subscriptions and prepaid services, as well as revenue from the sale of its integrated access devices, call minute termination fees and royalties from original equipment manufacturers. For additional information visit www.i2telecom.com or www.voicestick.com or call 877-731-6800.
SAFE HARBOR Statement Under the Private Securities Litigation Reform Act. With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including, but not limited to, product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors which are outside the control of the company. Actual results and developments may differ materially from those contemplated by these statements depending on such factors as changes in general economic conditions and financial or equity markets, technological changes, and other business risk factors. i2Telecom(R) does not assume, and expressly disclaims, any obligation to update these forward-looking statements.
