VANCOUVER, British Columbia, Feb. 14, 2005 (PRIMEZONE) -- VoIPMDU.COM (Pink Sheets:VPMD) (www.voipmdu.com) today announced that it has cancelled its Letter of Agreement with UAMA/Teliphone(TM) to supply the Company with VoIP telephony products and services. (See Press Release dated January 5, 2005.) The original agreement between the two companies has now expired and will not be renewed.
"Due to encroaching time constraints and our contractual obligations in conjunction with our planned promotional rollout scheduled for next month, we have now established an alternative joint venture partner that meets our stringent requirements," stated Richard Kipping, Chairman and CEO of VoIPMDU.COM. The specifics of the new state-of-the-art package will be announced later this month and will be a component of VoIPMDU.COM's exclusive contract to provide online VoIP technology to over 500,000 subscribers throughout North America. (See Press Release dated December 10, 2004.)
Meanwhile, in other significant developments, the Company's wholly owned subsidiary, LivePlayByPlay.Com (www.liveplaybyplay.com) has announced major progress in obtaining the rights to several minor sports opportunities in boxing (over 20 locations), hockey, soccer and tennis which will provide pay-per-view revenue streams to the Company and its venture partner, INSINC (www.insinc.com). "The video-on-demand/pay-per-view industry is growing at an annual rate of 50% now, resulting in new opportunities for aggressive VoIP technology companies such as VoIPMDU.COM," stated Paul Davey, President of LivePlayByPlay.Com. The details of each specific contract will be announced as they come online and available on the Company's website.
VoIPMDU.COM is a broadband VoIP telecom company offering local and long distance VoIP services, pay-per-view and video-on-demand products to consumers, business owners and multiple unit buildings. The Company provides turnkey solutions for all of its voice/video/data applications including a state-of-the-art billing platform. For more information, call Richard Kipping at (310) 890-3212 or Paul Davey at (604) 669-2850.
Safe Harbor:
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Some information including this press release contains statements that are forward-looking. Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and accordingly, these results may differ materially from those, expressly any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission: http://www.sec.gov including the Company's recently filed 10KSB.