LONDON, Aug. 28 /CNW/ - Voice 2 Voice Limited, the UK subsidiary of
Convergence Technologies Group Inc.(OTC: CNVG.pk) today announces completion
of new multi-site contracts in England and Wales.
The Company has delivered Converged Communications systems for Hambleside
Danelaw, part of the Hambleside International Group. In addition, Voice 2
Voice Limited has supplied systems to multi-franchise luxury car specialists
Installation at the new, state of the art Daventry Hambleside Danelaw
facility was completed this week with the Inverness and Waterlooville sites
scheduled in the next three weeks. Hambleside Danelaw received the 2006 Queens
The Hambleside Danelaw contract delivers revenue of $54,000 to
Convergence Technologies Group.
Rybrook Group engaged Voice 2 Voice to design and install systems for
three prestige car sales sites throughout the UK. From the initial BMW
dealership in the Midlands, Voice 2 Voice's contract has been extended to
cover the Bentley dealership situated in South Wales and the Jaguar/Volvo site
in Warrington. Total contract value for the three sites delivered is $108,000.
Convergence Technologies Group Inc CEO Warren Stroud comments "These two
new contracts demonstrate that we are committed to delivering excellence, and
that our sales pipeline forecasts real and deliverable business and revenue.
Due to the quality of service and equipment that the Company supplies we are
enjoying rapid growth and remain on target to deliver our 2007/2008
Voice 2 Voice summary:
- Designs, supplies, installs, maintains and consults on specialist
Converged communications systems for voice, date, mobile, video and
line of business applications.
- Profitable every year from inception.
- Voice 2 Voice turnover forecast to grow 58% July 2007 - September
2007, further 89% growth October 2007 - December 2007.
- Negligible debt, total of $35,833.56.
- Sales pipeline now valued in excess of $2M.
- IDC Western European VOIP Applications forecast for Western European
VOIP Market Value will be $2.25 billion by 2011.
A full corporate overview including current financial and sales pipeline
information is available on the Investor Relations page at
For more information please visit
To contact the company, please use the online contact form.
This news release contains forward-looking statements that are subject to
certain risks and uncertainties that may cause actual results to differ
materially from those projected on the basis of such forward-looking
statements. The words "estimate," "project," "intends," "expects," "believes,"
and similar expressions are intended to identify forward-looking statements.
Such forward-looking statements are made based on management's beliefs, as
well as assumptions made by, and information currently available to,
management pursuant to the "safe-harbour" provisions of the Private Securities
Litigation Reform Act of 1995. For a more complete description of these and
other risk factors that may affect the future performance of Convergence
Technologies Group Inc. see "Risk Factors" in the Company's Annual Report on
Form 10-KSB and its other filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date made and the Company undertakes no
obligation to disclose any revision to these forward-looking statements to
reflect events or circumstances after the date made or to reflect the
occurrence of unanticipated events.
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