LONDON, Aug. 15 /CNW/ - In the weeks between filing for quotation on Pink
Sheets and approval, Convergence Technologies Group Inc (OTC: CNVG) subsidiary
Voice 2 Voice Limited has further extended its sales pipeline to a value in
excess of $2M.
The sales pipeline consists of contracts that Voice 2 Voice has been
asked to quote and is actively pursuing. The Company is forecasted to grow
sales by 58% quarter on quarter following its Pink Sheets debut.
Voice 2 Voice Limited is a leading UK provider of converged
communications solutions, and a partner to equipment suppliers Avaya and
Splicecom. Established in 2003 by Warren Stroud the Company moved into
profitability in June 2007 and has targeted controlled growth and expansion
Stroud comments "The significant extension to the sales pipeline that has
been achieved in a manner of weeks underlines the future potential of the
Group. Voice 2 Voice UK continues to grow month-on-month, quarter-on-quarter,
delivering a profitable and stable base for future growth."
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.
For further information:
For further information: Convergence Technologies Group Inc. Investor
relations Team, +44-(0)845-241-8399