CounterPath Provides Update on Market Activity
August 02 2006 - 8:30AM
PR Newswire (US)
VANCOUVER, Aug. 2 /PRNewswire-FirstCall/ -- CounterPath Solutions,
Inc. (OTCBB: CTPS), a leading provider of VoIP (Voice over IP) and
Video over IP SIP softphones, provided an update to current market
activity. The company's stock price saw significant downward
pressure during yesterday's trading session, management knows of no
reason for the fall. As reflected in our recent annual filing of
results which show an increase in revenues, customers and product
launches, these all indicate that CounterPath may represent good
value at current levels. Additionally, the VoIP market is expected
to grow for some time to come. CounterPath management reiterates
its revenue forecast for fiscal 2007 of meeting or exceeding $10M
in revenue, through a realization of deployments of softphone
licenses and services against our existing contracts and a
conservative funnel conversion rate on near term opportunities.
CounterPath's recent price decline may be a reasonable entry
opportunity. About CounterPath CounterPath Solutions, Inc.,
formerly Xten Networks, Inc., is a developer of award-winning,
high-quality, carrier- grade VoIP (Voice over IP) and Video over IP
SIP softphones for service providers, cable operators, Internet
telephony service providers, IP PBX manufacturers and OEMs.
CounterPath's SIP softphones are available either pre-configured or
as a software development kit (SDK), and provide VoIP (Voice over
IP), Video over IP, IM (Instant Messaging), and Presence
functionality. With over 191 customers in more than 43 countries,
CounterPath technology is deployed in more than 6,000,000 IP
endpoints worldwide. Legal Note on Forward-Looking Statements
Statements in this news release, which are not purely historical,
are forward-looking statements, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include statements
regarding management's belief that: (1) total revenues for the
fiscal year ended April 30, 2007 will exceed $10 million, (2) our
revenue expectations for 2007 are supported by our existing
contracts and a conservative funnel conversion rate on near term
opportunities, (3) the Company may represent good value at current
levels, and (4) the Company's recent price decline may be a
reasonable entry opportunity. It is important to note that actual
outcomes and our actual results could differ materially from those
in such forward-looking statements. Factors that could cause actual
results to differ materially include risks and uncertainties such
as (1) our ability to remain competitive with eyeBeam(TM) and our
other applications as other parties develop and release competitive
products, (2) our ability to retain the employees necessary to
continue research and development of our software products, (3) our
success selling our products, (4) the ability to maintain and
increase our current licensing and support agreements, (5) the
impact of technology changes on our software products and on the
VoIP industry, (6) the compatibility of our software products with
new computer operating systems, (7) the rate of adoption by service
providers and the general public of VoIP as a replacement for
regular and cellular phone service, (8) general economic conditions
as they affect our customers, (9) uncertainties as to the size of
our market, (10) our ability to control costs operating, general
administrative and other expenses, (11) current or future
government regulations affecting the use of our products, (12) the
degree of liability or protection from current and future patents,
and (13) insufficient investor interest in our securities which may
impact on our ability to raise additional financing as required.
Readers should also refer to the risk disclosures outlined in our
quarterly reports on Form 10-QSB, annual reports on Form 10-KSB and
our other disclosure documents filed from time-to-time with the
Securities and Exchange Commission. Given these risks and
uncertainties, investors are cautioned not to place undue reliance
on such forward looking statements and no assurances can be given
that such statements will be achieved. No forward-looking statement
is a guarantee of future results. We disclaim any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
CONTACT: please visit http://www.counterpath.com/ or contact: Todd
Hanas, Investor Relations, 1-866-869-8072, DATASOURCE: CounterPath
Solutions, Inc. CONTACT: please visit http://www.counterpath.com/
or contact: Todd Hanas, Investor Relations, 1-866-869-8072,
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