Exhibit 99.1
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Release Header
Title: EPIXTAR ANNOUNCES '03 FINANCIAL RESULTS- CHANGE IN CEO
Subtitle: $37 Million in Revenue is 40% Increase over 2002
Release Date: April 14, 2004 Release Location: Miami, FL
Contact: Peter Nasca pnasca@epixtar.com (305) 937-1711
Release Body
MIAMI-- April 14, 2004--Epixtar Corp. (OTCBB:EPXR) today announced financial
results of operations for the year ending December 31, 2003 and filed its
annual report on form 10KSB.
2003 *2002
---- ----
Revenue 37,121,277 26,250,851
Net Income (Loss) 4,379,160 (11,944,922)
*Restated
The Company also announced that its 10 KSB disclosed that Martin Miller
will retire as chief executive officer. He will remain as non executive
chairman of the board and continue his active commitment to the Company
providing consulting and advisory services. Mr. David Srour currently chief
operating officer will become chief executive officer. The change will take
place on or before April 21, 2004.
Mr. Miller stated that "The change is being made in conjunction with our
transition to a business process outsourcing company and I am confident of
Mr. Srour's abilities in this area"
Confidential & Proprietary Epixtar Corp. Prepared by Harry Fozzard March 2, 2004 Page 1 of 3
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About Epixtar
Epixtar Corp. is the parent company of Epixtar BPO Services Corp., Epixtar
Communications Corp. (ECC) and the NOL Group, Inc. (NOL). ECC is a wholesale
telecommunications provider. NOL provides Internet services to small and
medium sized businesses.
Epixtar BPO Services Corp., Epixtar's most active subsidiary, is a business
process outsourcing (BPO) company - aggregating contact center capacity and
robust telephony infrastructure to deliver comprehensive, turnkey services
to the enterprise market. From campaign design through ongoing management,
Epixtar delivers value-driven, creative outsourcing solutions for the
customer relationship management (CRM) and telesales initiatives of
third-party companies. Companies use Epixtar's marketing expertise and
well-trained personnel to acquire, support, and enhance the customer
experience, reduce costs and generate top-line revenue. Epixtar's corporate
headquarters is in Miami, Florida and it currently maintains two contact
centers in Manila, Philippines, with developmental plans to expand to
additional centers over the next 24 months.
Forward-looking Statements
This Press Release may contain "forward-looking statements," regarding
EPIXTAR'S business, customers, partners, future products and services,
estimates of future business prospects or financial results, statements
regarding EPIXTAR'S objectives, expectations, intentions, beliefs or
strategies, or statements containing words such as "believe," "project,"
"expect," "intend," "may," "anticipate," "plans," "seeks," or similar
expressions. It is important to note that EPIXTAR'S actual results could
differ materially from those in such forward-looking statements, and undue
reliance should not be placed on such statements. Among the important
factors that could cause such actual results to differ materially are (i)
the timing of significant orders for EPIXTAR'S products and services, (ii)
variations in the terms and the elements of services offered under EPIXTAR'S
standardized contract for future service offerings, (iii) changes in
applicable accounting principles, (iv) difficulties or delays in
implementing EPIXTAR'S service offerings, (v) failure to achieve sales,
marketing and other objectives, (vi) construction delays of new call
centers, (vii) delays in EPIXTAR'S ability to develop new products and
services and market acceptance of new products and services, (viii) rapid
technological change, (ix) loss of significant customers, (x) risks inherent
in conducting business abroad, (xi) currency fluctuations, (xii)
fluctuations in business conditions and the economy, (xiii) EPIXTAR'S
ability to attract and retain key management personnel, (xiv) the
marketplace's continued acceptance of EPIXTAR'S service offerings, (xv)
EPIXTAR'S ability to continue the growth of its support service revenues
through additional technical and customer service centers, (xvi) EPIXTAR'S
ability to further penetrate into vertically integrated markets, (xvii)
EPIXTAR'S ability to expand its global presence through strategic alliances
and selective acquisitions, (xviii) EPIXTAR'S ability to continue to
establish a competitive advantage through sophisticated technological
capabilities, (xix) the ultimate outcome of certain regulatory actions, (xx)
EPIXTAR'S ability to recognize deferred revenue through delivery of products
or satisfactory performance of services; and (xxi) EPIXTAR'S continued
ability to attract and obtain adequate financing (xxii) other risk factors
listed from time to time in EPIXTAR'S registration statements and reports as
filed with
Confidential & Proprietary Epixtar Corp. Prepared by Harry Fozzard March 2, 2004 Page 2 of 3
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the Securities and Exchange Commission. All forward-looking statements which
may be contained in this Press Release are made as of the date that such
statements are originally published or made, and EPIXTAR undertakes no
obligation to update any such forward-looking statements. For those
statements, we claim the protection of the safe harbor for forward-looking
statements contained in Section 27A of the Securities Act, Section 21E of
the Exchange Act, and the Private Securities Litigation Reform Act of 1995.
Confidential & Proprietary Epixtar Corp. Prepared by Harry Fozzard March 2, 2004 Page 3 of 3