Tuesday, May 23, 2006

As long as we are talking VoIP Inc.

  • VoIP, Inc. "announced today the appointment of Gary Post as President and Chief Executive Officer. VoIP also announced the appointment of David Ahn as the Company's new VP - Corporate Planning. The appointments coincide with the resignations of CEO Michael Adler, President Hal Bibee and CFO David Sasnett. At the same time, the Company announced the completion of an agreement under which certain current investors will immediately provide an additional total of $2.8 million in financing to the Company." VoIP, Inc. has had more changes in the Executive suite than anyone can count.
  • "On April 19, 2005, VoIP, Inc. completed the sale of the wholly-owned subsidiary, VCG Technologies, Inc. dba DTNet Technologies to William F. Burbank, the former COO of the Company, pursuant to a Stock Purchase Agreement."
  • The star of VoIP Inc. is their CTO, "Shawn Lewis, who wrote the patents for the first Softswitch and SS7 Media Gateway for XCOM Technologies, Inc., a CLEC he co-founded and directed before its acquisition by Level 3 Communications, Inc.".... Shawn also developed and founded Volo Communications and the VoiceOne network, both acquired by VoIP, Inc. in June 2005.
  • All these offerings: VoiceOne Carrier Direct; Local Origination; Enhanced 911 Services; VoiceOne Virtual Service Provider; Domestic Termination; International Termination; 800 Origination + 3B in minutes supposedly leads to a whopping Net loss of $13M according to recent SEC filings.

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