VEI...Past Top Pick...no respect...
posted on
Nov 07, 2008 08:58AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Another of my top picks that gets no respect..along with every thing else in these markets..
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Verb Exchange Inc.
TSX VENTURE: VEI
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2008) - Verb Exchange Inc. (TSX VENTURE:VEI) -
Revenue continues to grow
Announcement Highlights:
- Revenue growth up 18% over Q2 2008
- New carrier customer growth exceeding expectations
- Entering new market segments
Verb Exchange Inc. is pleased to provide an update on its Eurotel Carrier Services subsidiary in advance of the filing of the Company's interim financial statements for the 3rd quarter ended September 30, 2008, due December 1, 2008. Revenue of $6.9 million from carrier services for Q3 2008 is over one million dollars higher than in Q2 2008. This represents an 18% growth over Q2 2008 and is reflective of the efforts to enhance the competitiveness of Eurotel.
As announced in September, the Company hired Avi Kornblum to create new business with major carriers around the world. Since joining the Company, Mr. Kornblum has signed over a dozen new carrier customers. "These new customers were not material in the growth we experienced in Q3 2008. Contract negotiation, interconnect, and route testing requires substantial effort before we allow new routes into our offerings," said Craig Goldenberger, Verb's CEO. "Traffic from these new customers is expected to ramp during Q4 2008 and will become fully active in Q1 2009."
"We are expanding and diversifying our customer base as well as our termination (vendor) base," continued Mr. Goldenberger. "By doing this we are able to avoid down turns in any given area due to political situations that arise from time to time. In previous recessions we've found that actual traffic increases because businesses as well as individuals reduce their travel to save money. They still have to do business and speak with relatives. This translates to increased demand for both Eurotel's wholesale services, and TabrioTM, our retail product." Eurotel wholesale services complement retail by keeping TabrioTM costs low, and therefore highly competitive.
"With the addition of Mr. Kornblum we have been able to reach customers we were unable or unlikely to reach before. These customers have need for the high quality direct routes in which we specialize because they sell direct to their own customers. Customer service is expensive and these companies understand the value of quality."
What It Means / Why It Matters:
Expansion of Eurotel sales translates directly into cheaper termination costs for destinations popular on the Company's nascent but rapidly growing TabrioTM brand. The high volume of minutes flowing through the Company's systems allows the Company to negotiate better rates for termination for both text and voice. Some of the customers and vendors for Eurotel are well entrenched in their home markets and are likely candidates to partner on the TabrioTM brand for both distribution and advertising sales. As a partner they provide yet another advantage in costs for TabrioTM by reducing termination costs in their home market. As Eurotel expands it reach into new markets and areas of business, the customers being added are more retail oriented and therefore more willing to pay a higher price for better quality. This should translate to higher margins in future quarters.
ABOUT TABRIOTM
Mobile media is among the fastest growing sectors in the digital media space today. Unlike any other service of its kind, TabrioTM allows users to voice call and text globally from anywhere they choose. TabrioTM does it all at steeply discounted prices. With crystal-clear quality for international calling and global text messaging, our contact management allows users to easily access contacts from any computer or mobile phone anywhere on the planet.
For advertisers, proprietary analytics technologies precisely target users with relevant ads based on detailed geographic, demographic and psychographic profiles. For more information please visit: www.Tabrio.com.
ABOUT VERB EXCHANGE
Verb Exchange Inc. (TSX VENTURE:VEI) is redefining mobile and online digital media communications. Global users can use our low-cost high-quality communications platforms on their desktop, web and/or mobile phones. In 2007, Verb Exchange was recognized as Canada's #1 technology company by Backbone Magazine, and by Business In Vancouver as first on its list of the 'Top 100 Fastest Growing Companies in BC'.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
For more information, please contact
Verb Exchange Inc.