Business
Axiologix, Inc. To Attain Profitability With Velocity Networks Acquisition; Will See Increase In Annual Earnings Approaching $1 Million
Axiologix, Inc. To Attain Profitability With Velocity Networks Acquisition; Will See Increase In Annual Earnings Approaching $1 Million.
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nAxiologix, Inc. To Attain Profitability With Velocity Networks Acquisition; Will See Increase In Annual Earnings Approaching $1 Million\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nAxiologix, Inc. To Attain Profitability With Velocity Networks Acquisition; Will See Increase In Annual Earnings Approaching $1 Million\n\nGroup Annual Revenues Set to Exceed $6 Million\n\nPR Newswire\n\nSARASOTA, Fla., June 25, 2013\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSARASOTA, Fla., June 25, 2013 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (OTC Pink: AXLX), an International Technology and Services Organization focused on delivering Cloud-based Products and Services, announced today that following the recent completion of a Definitive Agreement to acquire 100% of the equity of Velocity Networks, Inc. (http://www.vel.net), a leading IP Voice and Data provider based in Los Angeles, California, the Company expects that annual EBITDA earnings will increase by approximately $1 million that would bring it to overall profitability. \n\n\n\n\n\n\n\nThe transaction is subject to certain closing conditions and full details of the transaction have been posted through the OTC Markets Disclosure and News Service at (http://www.otcmarkets.com/stock/AXLX/filings).\n\n\n\n\nVincent Browne, Chairman and Chief Executive of Axiologix, Inc., commented, \"As I have said before, this is a transformational deal for Axiologix and our shareholders, and it brings the Company to a new level of operations and trajectory. After this acquisition, Axiologix will generate in excess of $6 million in annual revenues, but more importantly, break into sustained profitability. We are working very hard to bring all of the necessary elements together to complete this acquisition as soon as possible so we can close on additional acquisition candidates we have already identified in order to deliver our vision of becoming a nationwide provider of Cloud services to small and medium enterprises.\"\n\n\n\n\nCorporate Press Release e-Mail Distribution \n\n\n\n\nInterested inves...