| [August 22, 2005] |
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Turinco to Develop VoIP Opportunities in Latin America
SALT LAKE CITY --(Business Wire)-- Aug. 22, 2005 -- Sir John Baring, Bt., president and chief executive officer of Turinco Inc. (OTCBB: TURI) ("Turinco"), today announced the acquisition of Arvana Networks Inc. ("Arvana"), a managed voice services provider, in exchange for 4,500,000 shares of restricted common stock. Arvana intends to focus its initial business operations on the vast market opportunities that exist in Latin America.
Arvana intends to service the growing international market for digital telephony solutions using Voice over Internet Protocol, or VoIP, to provide inexpensive long distance and international phone calls. VoIP converts ordinary analog audio signals to digital signals that can be sent over the Internet or private networks. VoIP service providers can provide worldwide telephony and related services to consumers at a fraction of the cost charged by conventional telephony providers.
VoIP telephony requires a broadband Internet connection and either a telephone adaptor to convert voice signals to data, a VoIP-enabled phone that can be plugged directly into an Internet connection or a software application that enables a personal computer to be used as a phone.
The company expects to generate revenues by providing three main types of service -- inexpensive call handling for both outbound and inbound calls, monthly subscriptions with bundles of minutes for domestic and international calling, and long distance/international calling cards for corporate and consumer markets. Arvana believes that the provision of long distance and international calling services to companies with more than one office location either nationally or internationally will be a primary market for its VoIP services.
Time to market is crucial. Arvana's strategy is to partner with in-country companies that already have the components required to provide VoIP services. Partners will typically be broadband Internet service providers (ISPs) that can deploy voice services over existing data networks without requiring any specific telephony expertise or infrastructure. One of Arvana's original shareholders and a current partner, IP Horizon, LLC., is providing us with their carrier-class digital telephony systems, comprehensive management/billing software, a high-capacity calling card management system, hardware and software, and extremely competitive international calling rates.
Arvana is currently focused on providing VoIP services in Brazil, the fifth largest telecom market in the world with more than 100 million phone lines and well over 2 million broadband users, as a first step in the development of its international business model. Broadband and cellular growth in Latin America as a whole is among the highest in the world. Yet the market for VoIP services is underserved and the price of a long distance phone call, by many international standards, is expensive. Arvana is currently in the process of constructing a network of POPs in Brazil that will enable our initial entrance into this very promising market arena.
Sir John also announced three appointments to the board of directors: Robert Russell, president & chief executive officer of IP Horizon, LLC. (www.iphorizon.com), a division of Draper Holdings Business Trust based in Maryland; Ross Wilmot, a chartered accountant who serves as a director and/or financial consultant to a number of public companies; and Michael Jervis, an experienced telecommunications professional with considerable expertise in Latin America. Jervis is a director of Multivision Communications Corp., Bolivia's largest subscription television and wireless data provider using MMDS technology.
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. When used in this press release, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Turinco believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Turinco encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB, Form 10-QSB and Form 8-K. Turinco's public filings may be viewed at www.sec.gov.
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