China Voice Holding Corp. Announces Agreement With China Netcom -- Company Expects Partnership to Drive Revenues to
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BOCA RATON, FL, Apr 10 (MARKET WIRE) --
China Voice Holding Corporation (CHVC) (PINKSHEETS: CHVC) 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
contractsfor 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
theNew 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-CunScience and Technology Park in Beijing, China. CandidSoft has used
local
expertise to research, develop, and establish information and
communicationplatforms 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(TM)
uses a web-based technology and allows multiple workers to collaborate on a
single
project.The SKY O/A(TM) 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 www.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
meaningof 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.
China Voice Investor Contact:
The Eversull Group, Inc.
Jack Eversull
972-378-7917
972-378-7981 (fax)
Email Contact
Email Contact
Copyright 2008, Market Wire, All rights reserved.
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