Transaction to Add Infrastructure and Wireless Payment Capabilities
InZon Corporation (OTCBB: IZON) today
announced that the Company has issued a quantity of restricted stock to
acquire VeriCash, Inc., a privately held technology company with telecom
switching equipment in Miami and London and a program to develop
proprietary systems for hybrid Stored Value/Mobile Wallet payment
technologies. The system is designed to allow users to send money from
their cell phone to any other cell phone and acts as a Virtual Point of
Sale device via secure modes in most countries in the world. In addition,
the system will have a companion card that provides all the benefits of any
major debit card and is administered on proprietary networks.
Mr. Lino G. Morris, who recently joined the management of the Company said,
"I am very excited at the prospect of rolling this latest project into the
InZon group of companies. I believe there are many great opportunities to
be pursued worldwide in this field."
About InZon
InZon is a Global Communications Company that utilizes its own modern
hybrid worldwide VoIP/TDM network. This proprietary InZon system switches
and controls both traditional legacy TDM (Traditional Time Division
Multiplexing Voice Circuits) and IP Telephony technology (or Transitional
Telecom technology). This provides the Company with a hybrid system that
is the best of both worlds. The Company uses its own proprietary, leading
edge monitoring and management software to thoroughly evaluate
profitability in real-time and employ dynamic routing that will allow its
systems to immediately react to changing network conditions and reroute
based on key predefined criteria. For the majority of its traffic, the
Company now utilizes Voice over Internet Protocol ("VoIP") technology to
provide complete voice, fax, data and conference call services on an ASP
platform, This gives the Company the ability to provide rapid "time to
market" on new services and provide the most economical and flexible
operations possible.
The company operates from executive offices in Delray Beach, Florida, and
maintains redundant telecom equipment installations at its executive
offices as well as at facilities at 60 Hudson Street, in New York, with
fully redundant switching systems at a hardened satellite earth station in
North Miami, Florida and switching equipment for international operations
in London.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. This release or any other written
or oral statements made by or on behalf of InZon and its subsidiaries may
include forward-looking statements which reflect the Company's current
views with respect to future events and financial performance.
Forward-looking statements involve the Company's current assessment of
risks and uncertainties, which may cause actual events and results and
prospects to differ materially from those expressed or implied in these
statements. Certain information regarding such risks and uncertainties is
set forth in the Company's filings with the SEC. The Company undertakes no
obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
For further information contact:
David F. Levy
President and CEO
561-279-8200
Richard Dea
Chief Financial Officer
561-279-8200 www.inzon.net
