News out last week.
China VoIP Could Reach $100m by 2010 for Buzz
10:46a ET July 8, 2008 (Market Wire)
Buzz Technologies, Inc. (PINKSHEETS: BZTG) has announced that the company will launch the new VoIP Service to China's Internet Cafes on the 27th of July 2008 and has already made arrangements for it to be installed on close to 200,000 PCs in Internet Cafes in China immediately and 400,000 by January 2009.
The new VoIP system from Buzz will offer paid discounted calling and discounted ad supported calling across China. The service is being integrated into Buzz's Free SMS service to be launched at the same time.
VoIP, ad supported VoIP and Free ad supported SMS will provide Buzz an edge on Google and Baidu in the highly competitive Online Ad and Search Marketing in China. Buzz Technologies Inc. is currently testing APIs from other Ad Networks with a view to ad sharing agreements with some of the largest ad networks in the world. The move will help build the Buzz Brand as well as increase revenue by up to 30%.
With the current nature of the online ad market and the uncertainty of the Google, Yahoo, Microsoft situation regarding mergers Buzz feels it is best to be prepared for any and all outcomes. Various APIs will be tested on sites and search over the next month and be completed prior to the Olympics.
The main benefit in any ad sharing deal will be a faster and more profitable roll out across the USA.
The Company is preparing for an IPO in Hong Kong under which the current BZTG shareholders will be able to exchange 1 share in BZTG for 1 share in the new entity at the time of listing. The share structure of the new entity will exactly reflect the current 300m with no additional issue. After which the new entity will take control of the Texas entity and will see it trading as an ADR on the NASDAQ.
Participants in the IPO will need to acquire BZTG stock on market as will Investment Houses and Brokers involved in the IPO. Two Hong Kong brokers are competing for the IPO and an announcement for the lead position will be made in the coming weeks.
Buzz Technologies, Inc. is a convergent media company with operations ranging from infrastructure development to online retail.
The foregoing press release contains forward-looking statements based on the Company's beliefs as well as assumptions made by and information currently available to the Company, including statements regarding the timing of the introduction of certain products. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties which are identified and described in the Company's registration statements and periodic reports on file with the SEC, some of which are beyond the Company's control. Actual results could differ materially from these forward-looking statements as a result of a variety of factors including, among others, issues related to the travel and transportation industries, and prevailing economic conditions in general. In light of these risks and uncertainties, or should underlying assumptions prove incorrect, there can be no assurance that the forward-looking statements contained in this press release will in fact transpire or prove to be accurate.
Buzz Technologies, Inc. Srisoonthorn Road Cherngtalay, Phuket, Thailand CONTACT: Buzz Technologies, Inc. Beth Simpson 66872721727 Marketing Director email@example.com Buzz Search
SOURCE: Buzz Technologies, Inc.
I'm going to be watching this tomorrow to see if it can break resistance. Volume has been pretty good.