|SAN FRANCISCO – (BUSINESS WIRE) – July 10, 2003 – inCall Systems, Inc.™ (OTCBB: ICAS - news), announced today that it has completed the transaction of selling its wholly owned Singapore subsidiary, inCall Systems Pte Ltd, which operates the Company’s call center. The purchaser of the Singapore subsidiary is Intercontinental Communications, Inc., a private Nevada corporation. |
The selling price of the call center was $800,000 paid in the form of $12,000 cash and a 24-month promissory note for $788,000 carrying an 8% interest rate. The Company has agreed to exchange the promissory note for equity in the event that Intercontinental Communications shares become listed on a recognized public exchange. Intercontinental Communications has also agreed to sign a two-year consulting contract with the Company to make for a smooth transition of operations in Singapore.
Closure was completed when Intercontinental Communications delivered the promissory note for $788,000 and inCall Systems delivered the shares of inCall Systems Pte Ltd in the name of Intercontinental Communications, Inc.
“Completion of this sale agreement with Intercontinental Communications is a definite milestone for inCall Systems,” explained Marc Crimeni, CEO of inCall Systems, Inc. “Even though we will continue to work with the Singapore call center and Intercontinental Communications through our two-year consulting contract, this event officially ends our days as operators of call centers and solidifies our new strategic direction of selling and licensing our suite of award winning Customer Relations Management (CRM) software products.”
Mr. Crimeni continued, “It was the global interest in our software products over the past several quarters that led to this now completed corporate transition for inCall Systems. We are very excited about the many business opportunities our software suite present and we are looking forward to concentrating on the development, maintenance and sales of our products.”
“We are very pleased with our purchase of the Singapore call center,” stated Dan Starczewski, President of Intercontinental Communications, Inc. “The staff in Singapore are very dedicated, the management is highly experienced and customer sales have been quite steady despite the recent global economic climate, including the impact of SARS. Our plans for expansion and growth are synergistic with current management. We feel by injecting additional working capital we can expand our global presence and become one of the world’s prominent outsource service centers for companies.”
About inCall Systems, Inc.
inCall Systems, Inc. (www.incallsystems.com) develops, maintains and licenses computer software and services related to the Customer Relations Management (CRM) industry.
The Company delivers an integrated suite of turnkey communications solutions to corporations, distributors and resellers, providing them with the ability to quickly enter the expanding CRM marketplace. The Company provides CRM interaction software – ranging from VoIP (Voice over Internet Protocol) to interactive web chat, co-browsing, collaboration tools and online e-learning software. The Company’s products are currently sold under the brands telcoBlue, Vocalscape, Rapidclassroom and Maximumdesktop. For sales and licensing opportunities please email email@example.com.
inCall Systems, Inc. has its head office in Las Vegas, Nevada and a corporate office in San Francisco, California. The Company licenses its products and services through in-house sales representatives.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Some information included in 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 expressed in 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.
Marc Crimeni, + 866-628-5278
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