UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C., 20549
FORM 10-Q SB
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarter report ended September 30, 2001
or
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to ___________
Commission File number 000-28581
VOIP TELECOM, INC.
(Exact name of small business issuer as registrant as specified in charter)
Nevada 86-0880742
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
4126 Delp Street, Memphis, TN 38118
(Address of principal executive office)
Registrants telephone no., including area code (901) 365-7650
N/A
(Former name, changed since last report)
Check whether the registrant (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), Yes [X] No [ ] and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuers classes of
common stock, as of the last practicable date.
Class Outstanding as of September 30, 2001
Common Stock, $0.0001 35,732,972
i
TABLE OF CONTENTS
PART 1. FINANCIAL INFORMATION
Heading Page
Item 1. Consolidated Financial Statements 3
Consolidated Balance Sheets September 30, 2001
And December 31, 2000 4-6
Consolidated Statements of Operations nine months
Ended September 30, 2000
and September 30, 2001 7
Consolidated Statement of Stockholders Equity 8-10
Consolidated Statements of Cash Flows nine months
Ended September 30, 2000
and September 30, 2001 11-12
Notes to Consolidated Financial Statements 13
Item 2. Managements Discussion and Analysis and
Result of Operations 14-15
PART II. OTHER INFORMATION
Item 1. Legal Proceedings 16
Item 2. Changes in Security 16
Item 3. Defaults Upon Senior Securities 16
Item 4. Submission of Matter to a Vote of 16
Securities Holders
Item 5. Other Information 16
Item 6. Exhibits and Reports on Form 8-K 17
Signatures S-1
ii
PART 1 FINANCIAL INFORMATION
Item 1. Financial Statement
The accompanying unaudited financial statements have been prepared in accordance
with the instructions for Form 10-Q pursuant to the rules and regulations of the
Securities and Exchange Commission and, therefore, do not include all
information and footnotes necessary for a complete presentation of the financial
position, results of operations, cash flows, and stockholders equity in
conformity with generally accepted accounting principles. In the opinion of
management, all adjustments considered necessary for a fair presentation of the
results of operations and financial position have been included and all such
adjustments are of a normal recurring nature.
The unaudited balance sheet of the Company as of September 30, 2001, and balance
sheet of the Company as of December 31, 2000, derived from the Companys audited
financial statements, the unaudited statement of operations and cash flows for
the nine months ended September 30, 2001 and September 30, 2000 the statement of
stockholders equity for the period from May 4, 1997 through September 30, 2001
are attached hereto and incorporated herein by this reference.
Operating results for the quarter ended September 30, 2001 are not
necessarily indicative of the results that can be expected for the year ending
December 31, 2001.
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Balance Sheets
ASSETS
Nine Months
Ended Year Ended
September 30, December 31,
2001 2000
CURRENT ASSETS
Cash $ 16,915 $ 50,392
Accounts receivable 402,357 145,852
Receivable-related party 0 1,450
Loan receivable 153,622 153,622
Prepaid expenses 0 2,906
Total Current Assets 572,894 354,222
NET PROPERTY & EQUIPMENT 376,840 1,506,720
TOTAL ASSETS $ 949,735 $1,860,942
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Balance Sheets
LIABILITIES AND STOCKHOLDERS' EQUITY
Nine Months
Ended Year Ended
September 30, December 31,
2001 2000
CURRENT LIABILITIES
Accounts payable $ 993,847 $ 1,236,659
Notes payable 338,411 233,266
Interest payable 3,266 0
Accrued expenses 32,357 0
Total Current Liabilities 1,367,882 1,469,925
LONG-TERM LIABILITIES
Loan payable-related party 73,412 122,785
Total Long-Term Liabilities 73,412 122,785
TOTAL LIABILITIES 1,441,294 1,592,710
STOCKHOLDERS' EQUITY
Common stock ($0.0001 par
value, 50,000,000 shares
authorized 35,732,972
and 32,674,192 shares
issued
and outstanding for
September 30, 2001 and
December 31, 2000, respectively) 3,574 3,268
Additional paid-in capital 11,924,657 11,642,494
Deficit accumulated
during development stage (11,377,530) (11,377,530)
Retained earnings (1,042,260) 0
Total Stockholders' Equity (491,559) 268,232
TOTAL LIABILITIES
& STOCKHOLDERS' EQUITY $ 949,735 $ 1,860,942
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Statements of Operations
Nine Months Nine Months
Ended Ended
September 30 September 30,
2001 2000
REVENUES
Sales $ 647,471 $ 0
Total Net Revenues 647,471 0
OPERATING COSTS
Depreciation
& amortization 80,297 268,501
Bank charges 1,171 0
Bad debt expense 1,306,998 711,790
Administrative
expenses 1,082,914 1,693,688
Total Operating Costs 2,471,379 2,673,979
OTHER INCOME & (EXPENSES)
Interest income 308 62
Loss on investment 0 0
Other income 869,605 0
Exchange gain or loss 16 0
Impairment of goodwill 0 (7,031,953)
Gain on disposal of asset 0 0
Other expenses (25,215) 0
Interest expense (63,066) (19,202)
Total Other
Income & (Expenses) 781,648 (7,051,093)
NET INCOME (LOS
S) $ (1,042,260) $ (9,725,072)
BASIC EARNINGS (LOSS) PER SHARE $ (0.0298) $ (0.5668)
WEIGHTED AVERAGE NUMBER OF
OMMON SHARES
OUTSTANDING 34,946,725 17,157,834
Three Months Three Months
Ended Ended
September 30, September 30,
2001 2000
REVENUES
Sales $ 206,772 $ 0
Total Net Revenues 206,772 0
OPERATING COSTS
Depreciation
& amortization 26,782 268,501
Bank charges 397 0
Bad debt expense 0 711,790
Administrative
expenses 488,224 1,789,599
Total Operating Costs 515,402 2,769,890
OTHER INCOME & (EXPENSES)
Interest income 0 62
Loss on investment 0 0
Other income 0 0
Exchange gain or loss 0 0
Impairment of goodwill 0 (7,031,953)
Gain on disposal of asset 0 0
Other expenses (11,625) 0
Interest expense 0 (19,202)
Total Other
Income & (Expenses) (11,625) (7,051,093)
NET INCOME (LOS
S) $ (320,255) $ (9,820,983)
BASIC EARNINGS (LOSS) PER SHARE $ (0.0090) $ (0.4706)
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES
OUTSTANDING 35,475,549 20,867,534
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Statement of Changes in Stockholders' Equity
From May 4, 1987(Inception) through September 30, 2001
Common Stock
Shares Amount
Inception, May 4, 1987 - $ -
Common stock issued for cash 12,000,000 1,200
Net loss from inception on May 4,
1987 through December 31, 1997
Balance, December 31, 1997 12,000,000 1,200
Net loss for the year ended December
31, 1998 - -
Balance, December 31, 1998 12,000,000 1,200
Common stock issued for cash
at $ 0.15 per share 1,200,000 120
Contributed capital
Stock issued for cash at $ 1.00 per
share 108,002 11
Stock issued for services at $ 1.00
per share 6,000 1
Net loss for the year ended
December 31, 1999
Balance, December 31, 1999 13,314,002 1,332
Common stock issued for cash
at $ 0.54 per share 2,752,276 275
Common stock issued for cash
at $ .20 per share 3,810,000 381
Stock offering costs
Common stock issued for services
at $ 3.00 per share 60,000 6
Common stock issued for services
at $ 1.00 per share 1,080,600 108
Common stock issued for services
at $ 0.50 per share 25,000 3
Additional Stock
Paid-In Subscription
Capital Receivable
Inception, May 4, 1987 $ - $ -
Common stock issued for cash (200) -
Net loss from inception on May 4,
1987 through December 31, 1997 - -
Balance, December 31, 1997 (200) -
Net loss for the year ended December
31, 1998
- -
Balance, December 31, 1998 (200) -
Common stock issued for cash
at $ 0.15 per share 149,880 (150,000)
Contributed capital 67 -
Stock issued for cash at $ 1.00 per
share 89,989 -
Stock issued for services at $ 1.00
per share 4,999
Net loss for the year ended
December 31, 1999 - -
Balance, December 31, 1999 244,735 (150,000)
Common stock issued for cash
at $ 0.54 per share 2,752,001 -
Common stock issued for cash
at $ .20 per share 761,619 -
Stock offering costs (607,928) -
Common stock issued for services
at $ 3.00 per share 179,994 -
Common stock issued for services
at $ 1.00 per share 1,080,492 -
Common stock issued for services
at $ 0.50 per share 12,497 -
Retained
Earnings Total
Inception, May 4, 1987 $ - $ -
Common stock issued for cash - 1,000
Net loss from inception on May 4,
1987 through December 31, 1997 (1,000) (1,000)
Balance, December 31, 1997 (1,000) 0
Net loss for the year ended December
31, 1998 (1,450) (1,450)
Balance, December 31, 1998 (2,450) (1,450)
Common stock issued for cash
at $ 0.15 per share - 0
Contributed capital - 67
Stock issued for cash at $ 1.00 per
share - 90,000
Stock issued for services at $ 1.00
per share - 5,000
Net loss for the year ended
December 31, 1999 (93,461) (93,461)
Balance, December 31, 1999 (95,911) 156
Common stock issued for cash
at $ 0.54 per share - 2,752,276
Common stock issued for cash
at $ .20 per share - 762,000
Stock offering costs - (607,928)
Common stock issued for services
at $ 3.00 per share - 180,000
Common stock issued for services
at $ 1.00 per share - 1,080,600
Common stock issued for services
at $ 0.50 per share - 12,500
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Statement of Changes in Stockholders' Equity
From May 4, 1987(Inception) through September 30, 2001
Common Stock
Shares Amount
continued
Common stock issued for services
at $ 0.17 per share 172,834 17
Common stock issued to acquire 100%
of Central America Fuel Technologies,
Inc. on March 15, 2000 6,000 1
Options exercised at $ 0.42 per share 75,000 7
Options exercised at $ 0.21 per share 60,000 6
Options exercised at $ 0.21 per share 60,000 6
Common stock issued for ICE at
$ 0.83 per share 3,000,000 300
Common stock issued for Access
Network Limited at $ 0.83 per share 4,800,000 480
Common stock issued for debt
settlement at $ 0.20 per share 2,152,140 215
Common stock issued for debt
settlement at $ 0.83 per share 109,340 11
Receipt of subscription receivable - -
Options exercised at $ 0.2084 12,000 1
Options exercised at $ 0.4167 42,600 4
Options exercised at $ 0.4167 2,400 1
Common stock issued for cash
at $ 0.10 per share 120,000 12
Common stock issued for cash
at $ 0.10 per share 500,000 50
Common stock issued for services
at $ 0.16827 per share 520,000 52
Net loss for the year ended
December 31, 2000 - -
Balance, December 31, 2000 32,674,192 $ 3,268
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Statement of Changes in Stockholders' Equity
From May 4, 1987(Inception) through September 30, 2001
Additional Stock
Paid-In Subscription
Capital Receivable
continued
Common stock issued for services
at $ 0.17 per share 28,788 -
Common stock issued to acquire 100%
of Central America Fuel Technologies,
Inc. on March 15, 2000 14,999 -
Options exercised at $ 0.42 per share 31,243 -
Options exercised at $ 0.21 per share 12,494 -
Options exercised at $ 0.21 per share 12,494 -
Common stock issued for ICE at
$ 0.83 per share 2,499,700 -
Common stock issued for Access
Network Limited at $ 0.83 per share 3,999,520 -
Common stock issued for debt
settlement at $ 0.20 per share 358,475 -
Common stock issued for debt
settlement at $ 0.83 per share 90,741 -
Receipt of subscription receivable 150,000 -
Options exercised at $ 0.2084 2,499 -
Options exercised at $ 0.4167 17,746 -
Options exercised at $ 0.4167 999 -
Common stock issued for cash
at $ 0.10 per share 11,988 -
Common stock issued for cash
at $ 0.10 per share 49,950 -
Common stock issued for services
at $ 0.16827 per share 87,448 -
Net loss for the year ended
December 31, 2000 - -
Balance, December 31, 2000 $11,642,494 $ -
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Statement of Changes in Stockholders' Equity
From May 4, 1987(Inception) through September 30, 2001
Retained
Earnings Total
continued
Common stock issued for services - 28,805
Common stock issued to acquire 100%
of Central America Fuel Technologies,
Inc. on March 15, 2000 - 15,000
Options exercised at $ 0.42 per share - 31,250
Options exercised at $ 0.21 per share - 12,500
Options exercised at $ 0.21 per share - 12,500
Common stock issued for ICE at
$ 0.83 per share - 2,500,000
Common stock issued for Access
Network Limited at $ 0.83 per share - 4,000,000
Common stock issued for debt
settlement at $ 0.20 per share - 358,690
Common stock issued for debt
settlement at $ 0.83 per share - 90,752
Receipt of subscription receivable - 150,000
Options exercised at $ 0.2084 - 2,500
Options exercised at $ 0.4167 - 17,750
Options exercised at $ 0.4167 - 1,000
Common stock issued for cash
at $ 0.10 per share - 12,000
Common stock issued for cash
at $ 0.10 per share - 50,000
Common stock issued for services
at $ 0.16827 per share - 87,500
Net loss for the year ended
December 31, 2000 (11,281,619) (11,281,619)
Balance, December 31, 2000 (11,377,530) 268,232
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Statement of Changes in Stockholders' Equity
From May 4, 1987(Inception) through September 30, 2001
Common
Common Stock
Shares Amount
continued
Common stock issued for services
at $ 0.10 per share 1,800,000 180
Common stock issued for services
t $ 0.10 per share 100,000 10
Common stock issued for services
at $ 0.10 per share 20,280 2
Common stock issued for services
at $ 0.10 per share 250,000 25
Common stock issued for debt service
at $ 0.10 per share 628,500 63
Common stock issued for services
at $ 0.01 per share 250,000 25
Common stock issued for finders fees
at $ 0.01 per share 10,000 1
Net loss for the period ended
September 30, 2001 - -
Balance, September 30, 2001 35,732,972 $ 3,574
Additional Stock
Paid-In Subscription
Capital Receivable
continued
Common stock issued for services
at $ 0.10 per share 179,820 -
Common stock issued for services
t $ 0.10 per share 9,990 -
Common stock issued for services
at $ 0.10 per share 2,026 -
Common stock issued for services
at $ 0.10 per share 24,975 -
Common stock issued for debt service
at $ 0.10 per share 62,787 -
Common stock issued for services
at $ 0.01 per share 2,475 -
Common stock issued for finders fees
at $ 0.01 per share 90 -
Net loss for the period ended
September 30, 2001 - -
Balance, September 30, 2001 $11,924,657 $ -
Retained
Earnings Total
continued
Common stock issued for services
at $ 0.10 per share - 180,000
Common stock issued for services
t $ 0.10 per share - 10,000
Common stock issued for services
at $ 0.10 per share - 2,028
Common stock issued for services
at $ 0.10 per share - 25,000
Common stock issued for debt service
at $ 0.10 per share - 62,850
Common stock issued for services
at $ 0.01 per share - 2,500
Common stock issued for finders fees
at $ 0.01 per share - 91
Net loss for the period ended
September 30, 2001 (1,042,260) (1,042,260)
Balance, September 30, 2001 (12,419,790) $ (491,559)
VoIP TELECOM, INC.
(Formerly Presidents Telecom, Inc.)
Consolidated Statements of Cash Flows
Nine Months Nine Months
Ended Ended
September 30, September 30,
2001 2000
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss)
from operations $ (1,042,260) $ (9,725,072)
Depreciation &
Amortization Expense 80,297 268,501
(Increase) in
accounts receivable (255,055) (150,000)
(Increase) in
loans receivable 0 (1,647,426)
Increase in
officers advances 0 (354)
(Increase) / decrease
in prepaid expenses 2,906 0
Increase / (decrease)
in accounts payable (242,812) 580,826
Increase in
interest payable 3,266 0
Increase in
accrued expenses 32,357 0
Impairment of
goodwill 0 7,031,953
Bad debt 0 711,790
Common stock issued
for services 282,469 1,091,806
Net cash provided /
(used) by operating (1,138,832) (1,837,976)
activities
CASH FLOWS FROM INVESTING ACTIVITIES
Net purchase of
fixed assets (6,000) (894,846)
Disposal of equipment 1,055,583 0
Net cash provided /
(used) by investing 1,049,583 (894,846)
activities
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease)
in loans payable 55,772 (20,687)
Proceeds from
loan payable 0 342,980
Subscription receivable 0 150,000
Common stock
issued for cash 0 2,376,885
Net cash provided
(used) by financing 55,772 2,849,178
activities
Net increase
(decrease) in cash (33,477) 116,356
Cash at beginning
of period 50,392 156
Cash at end of period $ 16,915 $ 116,512
Supplemental Cash
Flow Disclosures
Cash paid during
year for interest 63,066 19,202
Schedule of
Non-Cash Activities
Common Stock issued
for services $ 282,469 $ 1,091,806
Common Stock issued
for acquisition of $ 0 $ 6,515,000
subsidiaries
Three months Three months
Ended Ended
September 30 September 30
2001 2000
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss)
from operations $ (320,255) $ (9,820,983)
Depreciation &
Amortization Expense 26,782 268,501
(Increase) in
accounts receivable (19,204) (150,000)
(Increase) in
loans receivable 0 (1,647,426)
Increase in
officers advances 0 (354)
(Increase) / decrease
in prepaid expenses 2,906 -
Increase / (decrease)
in accounts payable 144,615 580,826
Increase in
interest payable 0 -
Increase in
accrued expenses (1,669) -
Impairment of
goodwill 0 7,031,953
Bad debt 0 711,790
Common stock
issued for services 0 1,096,806
Net cash provided /
(used) by operating (166,825) (1,928,887)
activities
CASH FLOWS FROM INVESTING ACTIVITIES
Net purchase of
fixed assets 0 (894,846)
Disposal of
equipment 5,427 0
Net cash provided /
(used) by investing 5,427 (894,846)
activities
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease)
in loans payable 145,713 (20,687)
Proceeds from
loan payable 0 342,980
Subscription
receivable 0 0
Common stock
issued for cash 0 2,617,952
Net cash provided /
(used) by financing 145,713 2,940,245
activities
Net increase
(decrease) in cash (15,685) 116,512
Cash at beginning
of period 32,600 0
Cash at end
of period $ 16,915 $ 116,512
Supplemental Cash
Flow Disclosures
Cash paid during
year for interest 0 $ 19,202
Schedule of
Non-Cash Activities
Common Stock issued
for services $ 0 $ 1,096,806
Common Stock issued
for acquisition of $ 0 $ 6,515,000
subsidiaries
ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Going Concern and Ability of the Company to Continue
The Company has a net operating loss carry forward of $(12,419,790) since
inception through September 30, 2001.
The Companys consolidated financial statements are prepared using generally
accepted accounting principles applicable to a going concern which contemplates
the realization of assets and liquidation of liabilities in the normal course of
business. The Company has not established revenues sufficient to cover its
operating costs and allow it to continue as a going concern. Management believes
that the Company will soon be able to generate revenues sufficient to cover its
operating costs. In the interim, the Company intends to raise additional capital
through private placements of its common stock.
Liquidity and Capital Resources
As of September 30, 2001 the Company has $949,735 in current assets
compared to $354,222 in current assets as of December 31, 2000. The $949,735 in
current assets in compromised of $16,915 in cash, $402,357 in accounts
receivable, $153,622 in loans receivable As of September 30, 2001 the Company
has current liabilities of $1,367,882 compared to $1,469,925 as of December 31,
2000. However, the Company has a net equity of $(491,559) as of September 30,
2001 compared to $268,232 as of December 31, 2000.
Management realizes the Companys operations do not generate sufficient
revenues to cover operating costs. The Companys auditors have also expressed
the Companys going concern and ability of the Company to continue in the
reviewed financial statement.
Results of Operations
For the nine months ended September 30, 2001, the Company had revenues of
$647,471 compared to $0 for the same period of 2000. Total operating costs
decreased from $2,673,979 to $2,471,379 for the nine months ended September 30,
2001 compared to June 30, 2000. Bad debt expense increased $595,208 for the nine
months ended September 30, 2001 compared to the same period the year before.
Depreciation and amortization decreased approximately $188,000 due to the
recission of the ICE Communication acquisition. Administrative expenses also
decreased $610,774 for the same reason. For the nine months ended September 30,
2001 the company has a net loss of $1,042,260 compared to $9,725,072 for the
same period the year before.
16
For the three months ended September 30, 2001 the Company had revenues of
$206,772 compared to $0 for the same period of 2000. Operating expenses
decreased $2,254,488. This is predominately due to a $711,790 decrease in bad
debt expense as of the three months ended September 30, 2001 compared to the
same period of 2000. Also contributing to the drop in the operating costs was a
decrease of $1,301,375 in administrative costs. For the three months ended
September 30, 2001 the company has a net opeating loss of $320,255 compared to a
loss if $9,820,983 for the same period of 2000.
Net Operating Loss
The Company has accumulated approximately $12,099,535 of net operating
losses caryforwards as of June 30, 2001, which maybe offset against taxable
income and income taxes in future years. The use of these to losses to reduce
future income taxes will depend on the generation of sufficient taxable income
prior to the expiration of the net loss carryforwards. The carryforwards expire
in the year 2021. In the event of certain changes in control of the Company,
there will be an annual limitation on the amount of carryforwards, which can be
used.
Sale of Common Capital Stock
As of September 30, 2001 the Company had 35,732,972 shares of common stock
outstanding.
Risk Factors and Cautionary Statements
Forward-looking statements in this report are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. The
Company wished to advise readers that actual results may differ substantially
from such forward-looking statements. Forward-looking statements involve risks
and uncertainties that could cause actual results to differ materially from
those expressed on or implied by the statements, including, but not limited to,
the following: the ability of the Company to successfully meet its cash and
working capital needs, the ability of the Company to successfully market its
product, and other risks detailed in the Companys periodic report filings with
the Securities and Exchange Commission.
PART II OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
There are presently no pending legal proceedings to which the Company or
any of its subsidiaries are a party, to the best of knowledge of the Company. No
actions against the Company are contemplated or threatened.
17
ITEM 2. CHANGES IN SECURITIES
As of September 30, 2001 the Company had 35,732,972 shares of common stock
outstanding.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. SUBMISSION OF MATTERS TO BE A VOTE OF SECURITY HOLDERS
None.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS AND REPORTS ON 8-K
a. Form 10Q filed by reference on 7/3/2001
b. Form 10QSB filed by reference on 8/31/2001
c. Form 8K filed by reference on 9/20/2001
18
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed in its behalf by the
undersigned hereto duly authorized.
VOIP TELECOM, INC.
Dated: November 16, 2001
By: _/S/ John Curry_________
John Curry
President