IElement Signs LOI to Merge With Comware Monday January 8, 10:03 pm ET
DALLAS, Jan. 8, 2007 (PRIME NEWSWIRE) -- IElement Corporation (OTC BB:IELM.OB - News) (Frankfurt:SZQ1.F - News) (Frankfurt:IELM.F - News), a nationwide provider of advanced communication services and Voice over Internet Protocol (VoIP) solutions, announced today that it has entered into a non-binding Letter of Intent to merge with Dallas based Compeware Technology Associates, Inc., dba Comware. ADVERTISEMENT
Comware is an award winning industry leader in providing efficient network security solutions. Comware has been recognized by leading manufacturers throughout the United States with awards such as the Trend Micro Partner of the Year, McAfee's Top SMB Performer and as a Cisco Advanced Technology Growth Partner. Due to its expertise and proven track record, Comware holds high-level partnerships with the ``best of breed'' industry leaders in the network security and telephony markets. These partnerships allow Comware to provide customized network security solutions to its end users, and specifically to those in the SMB market space. The products and services that Comware offers are a great complement to IElement's personalized service with VoIP solutions, T1s, integrated T1s for voice and data, wireless Internet/data services, and Layer 2 Private Network (L2PN(tm)) solutions.
Charles Carlson, CEO of Comware, was appointed to IElement's board of Directors on December 7, 2006. Both companies are based in Dallas, TX and will continue to operate as they currently are.
Comware's revenue exceeded $10 million in 2004 and 2005, and 2006 numbers are expected to remain consistent with previous years. The combination of IElement and Comware will create a corporation with historical combined annual revenue of over $17 million while servicing over 10,000 businesses within the SMB space.
Terms of the merger have not yet been disclosed and are subject to further due diligence by both parties. A Definitive Agreement is expected to be reached within 30 days of this Non-Binding LOI. The transaction is expected to close on or before March 31, 2007.
IElement's CEO, Ivan Zweig, added, ``The merger with Comware creates a captive audience of 11,000 installed and active business customers. This new customer base allows IElement to immediately enter the Professional / IT Service market, where Comware has enjoyed award winning success over the past 6 years. We expect to 'sell through' Comware's products and services to each and every one of IElement's customers. Conversely, we desire to sell Hosted Microsoft Exchange, traditional voice, VoIP as well as hosted VoIP applications to Comware's customers. We feel the combination of Comware and IElement provides both companies with an immediate opportunity to increase sales. We continue our commitment to creating shareholder value by leveraging our existing capabilities. Needless to say, we are very excited about the synergies created and the vast incremental 'sell through' opportunities presented by the addition of these customers.''
About IElement Corporation
IElement is a facilities-based nationwide communications service provider that offers state-of-the-art telecommunications services to small and medium sized businesses (``SMBs''). IElement provides broadband data, voice and wireless services by offering integrated T-1 lines as well as a Layer 2 Private Network and VOIP solutions. These solutions provide SMBs with dedicated internet access, customizable business solutions for voice, data, wireless, internet, and secure communications channels between the SMB offices, partners, vendors, customers and employees without the use of a firewall or encryption device. IElement has a network presence in 18 major markets in the United States, including facilities in Los Angeles, Dallas and Chicago.
Comware is an industry-leading provider of network security solutions incorporating products, professional services, and implementation. Our elite team of experts understands complex security issues and works with a wide range of best-of-breed technologies to develop comprehensive, customized solutions that precisely and efficiently meet each client's specific needs. From intrusion detection and prevention to Internet filtering to the most current anti-virus remedies, Comware's sole mission is to protect its customers' business assets from any internal or external worldwide threat.
This press release may contain ``forward-looking statements.'' In some cases, you can identify forward-looking statements by terminology such as ``may,'' ``will,'' ``should,'' ``could,'' ``expects,'' ``plans,'' ``intends,'' ``anticipates,'' ``believes,'' ``estimates,'' ``predicts,'' ``potential,'' ``continue'' or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our dependency on senior management and officers; (2) our ability to pay down existing debt; (3) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (4) unforeseen costs and expenses; (5) potential litigation with our shareholders and/or former or current investors; (6) the Company's ability to comply with federal, state and local government regulations; (7) competition in the telecommunications market; (8) rapid technology changes; and (9) other factors over which we have little or no control.
Contact: IElement Corporation Ivan Zweig, CEO (214) 254-3421 investor*ielement.com
posted
Looks like a good company.52 week high was .14 May or may not be bottom, but probably a good watcher.
Last PR was this:
February 15, 2007 - 10:02 AM EST
IElement Records Record Revenue in January
DALLAS, Feb. 15, 2007 (PRIME NEWSWIRE) -- IElement Corporation (OTCBB:IELM) (Frankfurt:SZQ1) (Frankfurt:IELM), a nationwide provider of advanced communications services and Voice over Internet Protocol (VoIP) solutions, announced today that for the month of January 2007 the company's revenue increased more than 50 percent over December 2006 and surpassed an annualized $5 million for the first time since IElement has been publicly traded. January revenue totaled $432,483 as compared to $287,766 in December. February projects to be consistent with or higher than January.
The sharp revenue increase is a direct result of the 1,500 new business customers IElement closed in late December. The company expects to further increase revenue in the coming months by tapping into this new customer base in the form of direct sales and "selling through" to all of its business customers.
Since most of these new customers are solely receiving wireless internet service from IElement, the company sees an excellent opportunity to upgrade their services and introduce new "Enterprise" applications to these SMB customers. The primary push will be to sell them IElement VoIP or other traditional voice services. In an attempt to further differentiate itself from the rest of the marketplace, IElement is going to offer Enterprise Managed Services to its customers. Some of these enterprise Managed Services include Microsoft Exchange, anti-virus/anti-spam solutions (both managed onsite and hosted), on site IT consulting, remote LAN Management, off site data replication, off site backup & disaster recovery, L2PN wide-area networking and other advanced telecommunications services and applications.
In addition to adding customers and revenue in January, IElement gained access to five new markets. A majority of the new customers are located in Florida, Pennsylvania, Kentucky, Mississippi and Alabama, all new markets for IElement.
IElement acquired the 1,500 new business customers via a management contract signed on December 27, 2006 with Sutioc Enterprises, Inc., a management and consulting company. Sutioc owns 50.1% of US Wireless Online, Inc. (Pink Sheets:UWRL), one of the nation's largest wireless internet service providers, and US Wireless Online's customers are now under IElement's management.
IElement is a facilities-based nationwide communications service provider that provides state-of-the-art telecommunications services to small and medium sized businesses ("SMBs"). IElement provides broadband data, voice and wireless services by offering integrated T-1 lines as well as a Layer 2 Private Network and VOIP solutions. These solutions provide SMBs with dedicated internet access, customizable business solutions for voice, data, wireless, internet, and secure communications channels between the SMB offices, partners, vendors, customers and employees without the use of a firewall or encryption device. IElement has a network presence in 18 major markets in the United States, including facilities in Los Angeles, Dallas, Chicago, Fort Meyers, Pittsburgh, Louisville, Montgomery, Alabama and Jackson, Mississippi.
This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our dependency on senior management and officers; (2) our ability to pay down existing debt; (3) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (4) unforeseen costs and expenses; (5) potential litigation with our shareholders and/or former or current investors; (6) the Company's ability to comply with federal, state and local government regulations; (7) competition in the telecommunications market; (8) rapid technology changes; and (9) other factors over which we have little or no control.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
posted
Still in it,volume still light,I think volume will pick up this week, MA's all about to converge, its going to pop up on alot of bottom scans and make a nice move up pretty soon. MHO only, of course.
Posts: 292 | Registered: Mar 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
