DALLAS, Feb. 8, 2005 (PRIMEZONE) -- In a release sent earlier under the same headline, please note the addition of Mailkey information and a Safe Harbor Statement. The full corrected release follows.
IElement, a rapidly growing Communication Services Provider (CSP), today announced that the Company has surpassed its revenue target of $5.5M for 2004. Revenues for fiscal 2004 topped $5.7M, and exact numbers will be available after a current audit is completed. IElement recently completed a merger with MailKey Corporation (OTCBB:MAKY).
Ivan Zweig, IElement's Chief Executive Officer, said, "Our existing client base is renewing, and we have added new clientele who are taking advantage of our dynamic T1 offering, which is a very cost-effective platform for the SME market segment. We are poised to increase revenue in 2005, and we are ready to expand into the Dallas Fort Worth market where our headquarters has been prudently relocated from Los Angeles, Ca."
About IElement
IElement is a facilities-based nationwide communications service provider that provides state-of-the-art telecommunications services to small and medium sized enterprises ("SMEs"). IElement provides broadband data, voice and wireless services using integrated T-1 lines with a Layer 2 Private Network solution to provide SMEs with dedicated Internet access services, customizable business solutions for voice, data, wireless and Internet, and secure communications channels between the SMEs' offices, partners, vendors, customers and employees without the use of a firewall or encryption devices. IElement has a network presence in 18 major markets in the United States, including facilities in Los Angeles, Dallas, and Chicago. For more information on IElement, please visit http://www.ielement.com/home.
About MailKey
MailKey is a messaging security and management company. It is developing its Envoy technology platform to enable scaleable filtration, control and management of messages through a central management point. MailKey is exploring business development opportunities for the Envoy platform in the wireless Mobile Network Operator, gaming, and other markets. In November 2004, MailKey announced that it had been appointed as a Premium Member of the Orange Partner program to develop next-generation mobile message management solutions for mobile subscribers. Orange is one of the world's leading wireless Mobile Network Operators, with a 50 million-plus customer base in 19 countries. For more information on MailKey, please visit http://www.mailkey.com.
Safe Harbor Statement
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 these 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-harbor" 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 the Company, 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. 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.