BELLEVUE, Wash.--(BUSINESS WIRE)--Voip-Pal.com Inc. (“Voip-Pal”, “Company”) (OTC Pink: VPLM) announced that they have increased their Authorized Shares from 900 million to 990 million. The increase was necessary to provide the Company ability to fulfill all of its remaining contractual obligations prior to any potential acquisition. Management does not envision the final outstanding share issuance to approach the new limit, but provides flexibility in planning if required to enhance shareholder value. Any additional issuance will be restricted Rule 144 shares and thus subject to a one year holding period.
Dr. Thomas E. Sawyer, Chairman and CEO of Voip-Pal stated, “The results of the past three quarters are encouraging. Voip-Pal is now debt free as a result of successful efforts to reduce operating and administrative expenses to the absolute minimum. A major responsibility of your Board is to monetize the value of our portfolio of patents to the benefit of stockholders. We are confident we are making progress toward this end. I trust shareholders will find their association with Voip-Pal to be satisfactory in every way.”
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.