BELLEVUE, Wash.--(BUSINESS WIRE)--Voip-Pal.com Inc. (“Voip-Pal”, "Company”) (OTC Pink: VPLM) is pleased to provide an update to its Shareholders on the Company’s accomplishments over the past year. It has been one year since Voip-Pal expanded its management team with the additions of Dr. Thomas E. Sawyer, Dr. Colin Tucker and Professor Edwin Candy. Since that time the Company has experienced very significant growth and has realized several major milestones.
- The most notable of the achieved milestones is the completion of the patent portfolio with the issuance of four additional patents bringing the total number of issued patents to five. A sixth patent has been allowed and is awaiting issue. Additionally, there are other continuation patents currently in process.
- The Company has eliminated over $1 million in debt and is now debt free. The debt was incurred largely for the development of the patent suite.
- One year ago the company was the plaintiff in a lawsuit and defendant in a countersuit with the same party. That lawsuit has since been settled. Voip-Pal is no longer a party to any lawsuits.
- The price per share of Voip-Pal stock has increased over 80% in the past 12 months. Last year on May 17, 2013 the closing PPS was under $.08 compared to the most recent close on May 19, 2014 of $.145. Earlier this year the PPS had hit an intraday high of $.31.
- The Company continues to be engaged in activities and discussions aimed at monetizing the patent portfolio. The Board of Directors is confident that this objective will be met. None of the current board members intend to sell any of their personal shares of Voip-Pal stock until that goal has been achieved.
Dr. Thomas Sawyer, Chairman and CEO of Voip-Pal stated, “While accomplishments of the past year have been substantial, the best is yet to come. Despite the eighty percent increase in share price, today’s price does not reflect a true asset value of the patented technology. The current interest being demonstrated by various entities confirms and validates this conclusion. The Board appreciates the confidence and loyalty of its shareholders.”
About Voip-Pal.com Inc.
Voip-Pal.Com, Inc. (“Voip-Pal”) is a publicly traded corporation (OTC Pink: VPLM) headquartered in Bellevue, Washington. The Company owns a portfolio of patents relating to Voice-over-Internet Protocol (“VoIP”) technology that it is currently looking to monetize.
Corporate Website: www.voip-pal.com