PLANO, Texas, Feb. 8, 2007 (PRIME NEWSWIRE) -- ESPRE Solutions, Inc. (Pink Sheets:EPRT), a Dallas-based media solutions and video technology company with a revolutionary and patented video compression technology, today released a Corporate Update stating progress on several fronts including customer initiatives and reporting a record revenue month for January.
REVENUE: ESPRE Solutions gets into gear early, reporting a record revenue month in January. And, it is expected that the first quarter of 2007 will continue along this record pace with revenue expectations to range between $1.2 - $1.8 million for the calendar quarter, which would result in ESPRE's first full quarter where revenue alone generated a positive cash flow. According to Pete Ianace, CEO of ESPRE Solutions, "ESPRE is forecasting nearly $10 million in annual revenues with positive cash flow for the year. As of today, ESPRE has over $3 million in contracted revenue in the backlog, with another $3 million forecasted to close within the next 120 days."
LICENSE AGREEMENTS: Also, in January, ESPRE announced that it had entered into a $2 million License Agreement with Global IP Solutions (GIPS). GIPS has become a defacto standard in the audio engine business with such well-known clients as Yahoo!, Skype, Motorola, Cisco and others. Pete Ianace states, "We expect this relationship will further ESPRE's reach, by potentially placing ESPRE core video compression technology on more than 100 million desktops. Furthermore, we fully expect that a number of their well-known customers will deploy business-quality video conferencing, finally providing Internet users with the type of video quality only seen in a boardroom implementation. We expect others will discover what Global IP Solutions did, that when it comes to live interactive video we offer the highest quality at the lowest bandwidth in the market today," said Ianace.
TECHNOLOGY: "It has always been our goal to lead in the introduction of broadcast-quality video solutions more akin to the quality users expect from traditional TV broadcasters. There are many experts who feel users should lower their expectations as it relates to the Internet and wireless access because of the numerous technical challenges they pose. ESPRE believes that having to settle is not a good option and has spent the last three years developing an end-to-end solution that we call eViewMedia Engine(tm). Simply put, eViewMedia Engine provides a set of tools and capabilities that allow service providers and content distributors to leverage the Internet in a way many thought was not possible. We believe applied properly this set of tools will provide capabilities that are far reaching in how all forms of video are utilized and distributed over the web -- from pre-recorded to live broadcast to multiparty interactive, or the combination of all three. Eventually, it all comes down to what that particular vertical market or vertical application needs," said Ianace.
BUSINESS DEVELOPMENT: "One key milestone investors should look for is our ability to sign a contract with a major U.S.-based service provider. We expect by the end of 2007 that ESPRE will have developed under contract a comprehensive communications platform that will allow them to deploy live video conferencing between a PC, wireless handheld device and a set-top box. Additionally, we expect our customer, MDS, to launch nationally with their customer ForRent.com and add numerous other well-known online media publishers in the classifieds industry. Furthermore, ESPRE is actively pursuing several significant vertical opportunities in 2007. In order to keep focus on the prime business goal and capture the vertical opportunities while the 'window is open'; ESPRE will develop five market Joint Ventures in 2007," said Ianace.
The five market areas are:
* European Market Presence * Mobile Video Applications for Enterprise * Distance Learning * Internet Video Broadcast * Direct Marketing
In closing, Pete Ianace states, "To date, ESPRE has identified partners with industry expertise for 3 of the above mentioned JV markets including: European Market Presence, Mobile Video Applications and Distance Learning. And, ESPRE is at various stages of forming a joint venture partnership in each of these markets. We expect to be announcing the first of these in the next few weeks. These JV partnerships will contribute license revenue to ESPRE as well as contract engineering services to build the final applications for each particular market segment. We expect that in all cases ESPRE shall have an equity position that will add meaningful assets to our balance sheet."
About ESPRE Solutions, Inc.:
Plano, Texas-based ESPRE Solutions is a public company (Pink Sheets:EPRT) and groundbreaking media collaboration solutions provider that fulfills the promise of TV-quality, real-time and streaming video over the Internet -- even at dial-up speeds as low as 28Kbps. ESPRE Solutions intends to be the video solutions provider of choice for Internet Service Providers, Enterprises, application developers, communications hardware vendors and chip manufacturers, by providing both narrowband and broadband video solutions for integration into traditional voice and data applications. ESPRE Solutions' eViewMedia Engine(tm) provides an integrated toolkit solution for developers to create applications for business and personal communications. To learn more about ESPRE Solutions, or to experience the company's pioneering eView technology, visit www.espresolutions.com
SAFE HARBOR
Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Reform Act of 1995. Forward-looking statements made by ESPRE Solutions, Inc. are not a guarantee of future performance.