VANCOUVER, Nov. 30 /CNW/ - IP Applications Corporation (TSX-Venture: IPX)
wishes to update shareholders on the progress of the company.
IP Applications' key objectives for 2006 were to: 1) stabilize revenue
and customer relationships; 2) contain operating costs and maximize margin;
and 3) identify and develop products for future sale through existing
channels. With a solid management team in place, the Company has made
substantial progress with all three objectives.
Transition Progress
IP Applications invested its resources over the past year reorganizing
its business. From its foundation as a white-label technology outsourcing
company, IP Applications is moving into the realm of branded products by
mobilizing existing customer relationships and market channels.
"Monthly recurring revenue is a solid base to build our business upon. By
focusing our attention on those contracts that produce relatively higher
margins and growing revenue, while restructuring or ending business
relationships with lower margins or declining revenue, we've made significant
progress toward a more stable revenue base, even though our reported revenue
hasn't changed appreciably over the year," said John Jacobson, President and
CEO. "Now that we've stabilized our customer relationships and have our costs
under control, we will generate new revenue and improved customer loyalty by
introducing innovative products in 2007. Right now, our existing offerings
appeal to a narrow segment of our marketing partners and channels. Our new
products will expand the appeal to a broader segment of that audience, with as
much as twenty times more potential customers."
New Product Offerings
Using existing marketing channels, IP Applications is introducing three
new products to assist customers in leveraging their business opportunities.
Even within existing channels, the market potential expands dramatically, with
potential increases from the Company's current 50,000 Internet access
customers to well over a million potential consumers.
MyHelpDesk
MyHelpDesk is an enhanced Help Desk service product for individual
computer users. It uses remote access technology to set-up, repair, maintain
and troubleshoot users' computers, wireless networks and MP3 players.
MyHelpDesk is part of IP Applications' strategy to meet existing channel
demand utilizing available helpdesk capacity at higher margins. The product is
in the final stages of development and is planned for release early in 2007.
Voyager SaaS
This web-based Help Desk management/trouble ticket software suite allows
enterprise customers to license the product on a hosted basis to manage and
support their own Help Desk services. As an e-commerce product, Voyager is
positioned to be highly scalable and capable for enterprise and government
clients. One current IP Applications client has committed to using the
product, and a second has expressed strong interest. The Company plans to
offer the product to the broader market by offering it as a Software as a
Service ("SaaS") product. With the initial version of the product already in
production, the SaaS version is planned for release later in 2007.
e-Commerce Suite for multi-brand commercial portals
This electronic commerce suite is targeted at businesses serving captive
customer groups like multi-level marketers or affinity groups. Presently,
these retailers only sell their own products on their websites. Our new
product is designed to allow them to add products to their site from other
on-line retailers, while still continuing to provide a single log-in and a
single bill for purchases, regardless of which retailer provides the goods.
This product is based on the Company's existing credential and transaction
processing capability with enhancements for provisioning third-party products.
The product is planned for release in the second half of 2007.
About IP Applications
IP Applications Corp. serves companies bringing online products,
services, content, and internet access to market. IP Applications provides a
flexible combination of technology, systems and expertise for customers who
have channels and products but who lack the delivery and support capabilities.
IP Applications' integrated Operational Support System and contract Help Desk
services dramatically reduce the cost, complexity and time to market for
online products and services.
Forward-Looking Statements
This press release may contain forward-looking statements. Actual events
or results may differ materially from those described in the forward-looking
statements due to a number of risks and uncertainties. Forward-looking
statements are based on management's estimates, beliefs, and opinions. The
company assumes no obligation to update forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
