EXHIBIT 99.1
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