Business
IP Applications Business Update
IP Applications Business Update.
About this update from Santa Rosa Resources Corp.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, March 6 /CNW/ - IP Applications Corporation (TSX-Venture: IPX)\nwishes to update shareholders on the progress of the company since October\n2005.\nThe company has achieved monthly recurring revenue of approximately\n$800,000 and has successfully reduced operating expenses to more closely match\ncash flow. In the past four months, IP Applications has consolidated multiple\noffices, computer systems and network traffic to reduce operating expenses and\nleased new capital equipment to improve operational efficiencies with other\ncost containment strategies now being implemented and predictable organic\ngrowth in its customer base, IP Applications expects to be cash \nself-sufficient on operations in 2006 and does not expect to have to raise\nequity capital to finance operations.\nJohn Jacobson, President and CEO of IP Applications Corporation said \"The\ncompany has not published an update to investors for some time, yet financial\nreports of the last two quarters indicated that we needed to focus our\nenergies on driving operational improvements to stabilize the business and\nposition it for growth. I'm pleased to report that most critical improvements\nare complete and that any outstanding adjustments are identified well under\nway. Financial reports for the last quarter of 2005 will reflect aspects of\nthis cost rationalization process and we are optimistic that the first quarter\nresults from 2006 will benefit from the improvements we've made.\nWe currently serve over 60 Internet Service Providers who have over\n400,000 subscribers throughout Canada and the USA. Our principal objectives\nfor 2006 are to put the company on a solid financial footing and generate cash\nfrom operations. What makes IP Applications an interesting opportunity for\ninvestors is that we operate in a huge market, we plan to enhance our product\nofferings to existing clients, and we intend to expand into other parts of the\ntelecom sector.\"\n\nAbout IP Applications\nIP Applications delivers back-office support capability to Internet\nService Providers including the applications, systems, and support necessary\nto run their business. The combination of carrier-class facilities, mass\nprovisioning capabilities, and dedicated technical and sales professionals\nmakes IP Applications a trusted strategic partner to Telecoms, Wireless, and\...