Business
Epazz Reports 117 Percent Increase in Operating Profits and 9 Percent Increase in Revenue for Trailing 12 Months
Epazz Reports 117 Percent Increase in Operating Profits and 9 Percent Increase in Revenue for Trailing 12 Months.
About this update from Epazz, Inc.
[{"type":"text","content":"\nIncrease in new customers from cloud business applications\n CHICAGO, Nov. 14, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Epazz Inc. (OTC: EPAZ), a leading provider of blockchain mobile apps and cloud-based business software solutions, has reported its unaudited trailing 12 months. The period between June 30, 2017, and June 30, 2018, saw an increased revenue of $1,823,000, compared to $1,674,000 (or 9 percent) from June 30, 2016, to June 30, 2017. The company also reported an operating income of $554,000 during the same period, an increase of 117 percent compared to June 30, 2016, to June 30, 2017. This is a substantial turnaround in the company’s financial position. The company has settled or paid over $600,000 in debts during 2018. The company’s long-term debt will be under $1 million. The reduction in debt greatly improves the company’s stockholders’ equity. For the company to qualify for listing on the national or international stock exchanges, stockholders’ equity is critical. The company is focusing on acquiring new customers for its cloud-based business software and developing new blockchain technologies for Fortune 500 companies, government agencies, health care providers and legal services. Our blockchain technology will reduce fraud in business transactional contracts. The technology allows for a transactional contract to become a living contract that is tracked and traced; it also verifies that a section of terms within a contract is followed and that all parties of an agreement obey the terms of the contract. The company believes this will become a new source of revenue once it is marketed. Epazz Inc.’s CEO, Shaun Passley, Ph.D., said, “Our valuation in the marketplace is not reflecting our true value. Our revenues are above our current market cap.” New Versions of Cloud Business Applications The newest version of EQM, version 4, is a new robust enterprise quality management system, food inspection software and audit software to assist government and business in compliance management. The company already has government and business customers using EQM. We believe with the new features and new graphic user interface that EQM will attract new customers. The company is working to transition EQM into a serverless application. We believe our solu...