LOS ANGELES, Aug. 30, 2004 (PRIMEZONE) -- FoneFriend, Inc. (OTCBB:FFRD) is pleased to report on the first month of service successfully delivered to its new subscriber base of 60,000 VoIP customers.
The network infrastructure, billing system, and customer support operations that the company contracts out to InfiniCom Networks worked extremely well and call quality was excellent. As a result, the company generated revenues slightly in excess of $1 million from this first month of operations.
Karen Blevins InfiniCom Vice President/Carrier Services, said "After the successful completion of the first operational cycle for FoneFriend, InfiniCom is capable of immediately scaling its systems and network capacity to satisfy the consumer demand for FoneFriend VoIP services. Subscriber satisfaction with the service is evidenced by the fact that during the July operational cycle, over 99.5% of customers continued with the service and subscriber loss was only 288 customers for the 31 day period."
Under the customer acquisition agreement with InfiniCom, FoneFriend automatically receives 288 replacement paying subscribers from InfiniCom.
FoneFriend Chairman, Gary Rasmussen, commented "We see VoIP as a very real alternative to traditional telco service for people who want to save a lot of money on their monthly phone bills. We plan to aggressively build our subscriber base over the coming months with our attractive, low cost customer value proposition of unlimited calling for just $15 a month, and to become a dominant global player in the VoIP marketplace."
About FoneFriend, Inc.
FoneFriend is an emerging business in the fast growing VoIP industry. FoneFriend provides its customers with unlimited monthly calls within the continental United States, Canada, most of Europe and selected countries in Asia for a flat monthly fee of just $15.
About Equity Capital Market Information Systems, Inc. (EMIS)
FoneFriend has contracted with EMIS to organize and manage an investor awareness program. A Corporate Profile on FoneFriend can be viewed at http://www.serioustraders.com.
Forward Looking Statements
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of wireless networks or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.