PORTLAND, Ore., June 6, 2005 (PRIMEZONE) -- VoIPLabs Holdings Inc (Pink Sheets:VPBH): The Company today announced that it has successfully negotiated the exchange and conversion of 37,444,740 common shares held by a single shareholder. The shareholder has accepted 375,000 new investment Series C Preferred shares of the Company. The Series C shares are restricted from conversion for two years. Series C is convertible at a rate of Two common for each Preferred share held. The Series C has zero voting rights.
Forward Looking Statement
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of VoIPLabs Holdings Inc ("VPBH") that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry and in various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market; the timing of orders and manufacturing lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; the ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; increased competition in the networking industry; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters; the ability to recruit and retain key personnel; our ability to manage financial risk; currency fluctuations and other international factors; potential volatility in operating results and other factors listed in VPBH most recent reports. VPBH results of operations are not necessarily indicative of VPBH operating results for any future periods. Any projections in this release are based on limited information currently available to Ontus, which is subject to change. Although any such projections and the factors influencing them will likely change, VPBH will not necessarily update the information, since Ontus will only provide guidance at certain points during the year. Such information speaks only as of the date of this release.