|
Epixtar Finalizes First Round
Of Equity Financing
Tuesday, June 24, 2003 - 11:48 am ET
Proceeds Dedicated To Call Center Build-Out
MIAMI - June 24 /PRNewswire-FirstCall/ - Epixtar Corp. (OTC
Bulletin Board: EPXR - News) today announced it has finalized
the first round of equity financing consisting of convertible
preferred stock and warrants from several institutions and
high-net worth individuals through the efforts of its investment
bankers.
"The current round of approximately $4 million is earmarked
for the build out of Epixtar's 1,500-seat flagship call center
in Manila, Philippines," said David Srour, recently named
president of Epixtar Corp. "We have secured a significant
pipeline of outbound sales campaigns which will immediately
fill our Manila capacity as it becomes operative, as well
as future India capacity once available."
Epixtar recently revealed its plans to enter the business
process outsourcing (BPO) field as a marketing service provider.
The Company plans to develop 4,000 seats of telemarketing
capacity over the next 12 - 18 months.
"The Company has acquired meaningful experience in offshore
telemarketing in the last two-and-a-half years selling our
subsidiary lines of Internet services," said Harry Fozzard,
Epixtar chief marketing officer. "Those campaigns have
netted Epixtar more than 200,000 active ISP customers to date."
Epixtar's three brands of ISP services (NOL, Liberty Online
and B2B Advantage) each offer small business customers value-added
ISP services billed to the subscriber's local phone bill at
$29.95 per month. Epixtar reported year 2002 revenues of $26
million and Q1 2003 revenues of $12 million.
"This capital allows the Company to set in motion our
plans to evolve into a full-service, marketing service provider,
not just selling our own brands, but executing sales campaigns
for Fortune 500 companies and others as well," said Irving
Greenman, Epixtar chief financial officer and director. "We
are in final negotiations to acquire an 80,000 square foot
facility in Manila to house our first 1,500 seats and regional
training center, and have recently recruited what we believe
to be some of the industry's most successful managers in the
United States, the Philippines and India."
The projected operational date for Epixtar's Manila facility
is December 2003. The Company may pursue additional equity
and/or debt financing in the near future for the development
of its India presence as well as possible strategic acquisitions.
About Epixtar Corp.
Epixtar is a provider of marketing services -- aggregating
contact center capacity and robust infrastructure to deliver
comprehensive, turnkey solutions. From campaign design through
ongoing management, Epixtar delivers value-driven, creative
solutions for telesales initiatives. Epixtar combines global
capacity with innovative performance-based compensation and
proven methodology to deliver highly successful marketing
campaigns. Leading companies use Epixtar's marketing expertise
and contact center capacity to acquire, support, and enhance
the customer experience, reduce costs and generate top-line
revenue. Based in Miami, Florida, Epixtar conducts operations
throughout the Caribbean Basin, Asia Pacific and the United
States.
Safe Harbor Statement
This release contains statements about expected future events
and financial results that are forward looking. These statements
are based on our estimates and assumptions and are subject
to risks and uncertainties. Actual results could be affected
by a downturn in the economy, new competitive products, slower
rate of growth in member base, higher than anticipated cancellations,
unforeseen expenses, or technical failure related to self
generating web site development or inability to scale server
capacity to meet demand. Forward looking statements include
the information concerning our possible or assumed future
results of operations. Forward looking statements also include
those preceded or followed by the words: "anticipates,"
"believes," "estimates," "hopes"
or similar expressions. For those statements, we claim the
protection of the safe harbor for forward looking statements
contained in the Private Securities Litigation Reform Act
of 1995.
Contact
Harry B. Fozzard
Epixtar Corp.
hfozzard@epixtar.com
Source
EPIXTAR CORP.
|
