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Epazz Reports 117 Percent Increase in Operating Profits and 9 Percent Increase in Revenue for Trailing 12 Months

Nov 14

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11/14/2018 7:39 AM  RssIcon

CHICAGO — Nov. 14, 2018 — 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 solution can attract governments like Dubai’s that are currently using blockchain technology to increase food safety. According to an IBM article,The stated goal is for the system to be in place before Dubai hosts the World Expo in 2020 … Dubai’s successes and pitfalls will help to provide a blueprint for other blockchain implementations around food safety.”

EQM has similar features to the food-monitoring system Dubai is implementing. The company will integrate its blockchain technology with EQM. The company will be integrating its patent-pending blockchain storage technology. The company’s marketing strategies will include use of social media such as Google AdWords, Bing, LinkedIn, Facebook and Twitter.

EQM version 4.0, compliance management software, starts at $399 per month.

New Products

FlexCube is a next-generation work-space management device that you can use to book desks or work spaces. FlexCube also offers you an accurate status regarding desk availability in real time — all you need to do is scan the QR code for verification of any reservation via our DeskFlex app. By assisting in the transition from traditional offices to hoteling, FlexCube is a great solution that allows employees to see if desks are available when they get to the office. The employee would see a green light if available or red light if unavailable.

The ZenaPay Plant Tracker app for the Canadian 420 market is available on the Google Play store for immediate download.

The ZenaPay Plant Tracker tracks plants from seed to harvest. The first version provides an easy way for growers to monitor the different varieties of plants they harvest for their businesses.

According to the Canadian Health Department, Canadian 420 businesses are required to maintain records on plant inventory:

Section 11: Record Keeping

The applicant must submit a detailed description of their proposed record-keeping methods. This must include a description of the process that will be used for recording transactions relating to licensed activities, including maintaining appropriate records of transactions and dealings with both suppliers and clients.

About Epazz, Inc. (www.epazz.com)

Epazz, Inc. is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions and the public sector. Epazz BoxesOS™ v3.0 is the complete business web-based software package for small- to mid-size businesses, Fortune 500 enterprises, government agencies and higher-education institutions. BoxesOS provides many of the web-based applications organizations would otherwise need to purchase separately. Epazz’s other products are DeskFlex™ (a room scheduling software) and Provitrac™ (an applicant-tracking system).

 

SAFE HARBOR

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of forward-looking statements such as "may," "expect," "intend," "estimate," "anticipate," "believe" and "continue" (or the negative thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation and has no intention of updating these forward-looking statements, and it has no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz, Inc.’s public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC markets filings, which contain general business information about the company’s operations, results of operations and risks associated with the company and its operations.

 

CONTACT: For more information, please contact:

         Investor Relations

         mailto:investors@epazz.net

         (312) 955-8161

         www.epazz.com

 

Copyright ©2018

Tags: financials
Categories: Epazz, Blogs, Press Room
Location: Blogs Parent Separator Epazz

 

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