BELLEVUE, Wash.--(BUSINESS WIRE)--Voip-Pal.com Inc. (“Voip–Pal”, the “Company”) (OTC Pink: VPLM) announces their agreement to stipulate to a 60-day extension of time from May 31, 2016 to July 29, 2016 for Apple, AT&T and Verizon (collectively the “Defendants”) to answer or otherwise respond to Voip-Pal’s Second Amended Complaint in its patent infringement lawsuits against the Defendants. Individual requests for an extension of time were made by Apple, Verizon, and AT&T. In an effort to coordinate the requests, Voip-Pal agreed to allow a 60-day extension to each of the Defendants.
Emil Malak, CEO of Voip-Pal stated, “We felt it was appropriate to stipulate to their requests for an extension of time. Our discussions with Apple, AT&T and Verizon thus far have been very amicable, and we hope to continue that same tone as we work towards reaching a fair settlement for our shareholders that properly reflects the value of our patents.”
Financing Initiatives
The Company announces that it has begun the application process for equity crowdfunding, expecting to launch an initial capital raise at an anticipated price of US$0.05 per restricted common share through a crowdfunding platform. Use of proceeds from successful crowdfunding will be exclusively for the Company’s operating expenses, as legal expenses associated with the current patent infringement lawsuits are paid through a contingency arrangement with the Company’s litigation attorneys. More information on the Company’s crowdfunding initiative will be forthcoming on the Company website at www.voip-pal.com and during the upcoming shareholder conference call.
The Company has decided to launch the crowdfunding effort following its recent successful capital raise of US$269,000 by way of the private placement of 6,725,000 restricted common shares, completed in little more than one week’s time to a small group of accredited investors.
Shareholder Conference Call
The Company is pleased to report that it has received over two hundred questions from its shareholders via email for its upcoming conference call with the Board of Directors, scheduled for Wednesday, May 25, 2016 at 12:00 PM ET. Those wishing to participate in the conference call should dial toll-free, (855) 212-0212, and enter meeting ID number 743560036#.
About Voip-Pal.com Inc.
Voip-Pal.Com, Inc. (“Voip-Pal”) is a publicly traded corporation (OTC Pink: VPLM) headquartered in Bellevue, Washington. The Company owns a portfolio of patents relating to Voice-over-Internet Protocol (“VoIP”) technology that it is currently looking to monetize.
