Epazz Next Spin-Off: Terran Power, Inc. Stock Dividend; Epazz First Spin-Off: FlexFridge, Inc. Files Form-10, One Step Closer...
January 22 2015 - 8:42AM
InvestorsHub NewsWire
CHICAGO, IL - January 22, 2015 -
InvestorsHub NewsWire - Epazz, Inc. (OTCQB:
EPAZ), a leading provider of cloud-based business software
solutions, is announcing that its next spin-off, Terran Power,
Inc., is in the process of filing a provisional patent for its
mobile power technology, which will make it easier to generate
power on the go. Terran
Power is a project to develop a mobile power device that allows
iPhone and other smartphone users to power up their phones on the
go without needing an outlet or a second battery. The
smartphone-accessories market is a $20 billion/year market. Once
the provisional patent has been filed, Epazz will announce the
record date when the Terran Power stock dividend will take
place.
Also Epazz is announcing today that
FlexFridge, Inc., Epazz’s first spin-off, filed its Form 10
yesterday to allow it to be a fully reporting public company.
FlexFridge filed on a nonprovisional patent for the world’s first
foldable mini-fridge. Once the Form 10 becomes effective,
FlexFridge will need to file Form 211 to get a ticker symbol.
Shareholders will be able to trade their shares soon after the
ticker symbol is provided.
Because FlexFridge, Inc. and Terran
Power are not part of Epazz’s core business, the company believed
it was best to turn them into their own companies. Our past
shareholders received stock dividends from FlexFridge; our present
and future shareholders will receive stock dividends next time from
Terran Power.
The public can visit
www.flexfridge.com for a
second sneak peek at FlexFridge. It will soon be the world’s first
foldable mini-fridge or compact
fridge.
Epazz, Inc.’s CEO, Shaun Passley,
PhD, says, “FlexFridge has been in the works for a few years. It
took us time to understand the process of developing a consumer
product and the process of spinning out the subsidiary. We believe
we will be able to use this process many times in the future. As
Epazz, Inc. acquires more companies, there are concern assets that
do not fit with Epazz’s core business model. When this happens, a
good option is spinning out those assets in the form of spin-offs
to allow our shareholders to still receive the benefits of the
assets. FlexFridge and Terran Power were developed in-house, but
they helped us discover a process whereby we may take on some of
the assets that were acquired that could make good spin-off
opportunities.”
About Terran Power,
Inc.
Terran Power is a project to develop
a mobile power device that allows iPhone and other smartphone users
to power up their phone on the go without needing an outlet or a
second battery. The smartphone-accessories market is a $20 billion
market.
About FlexFridge,
Inc.
FlexFridge is a patent-pending,
four-cubic-foot mini-fridge. FlexFridge was designed to allow
students, campers, hotels, and businesses to have a big mini-fridge
in their dorm rooms, RVs, hotel rooms, or offices. FlexFridge is
easy to transport and easy to set up.
About Epazz,
Inc.
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 BoxesOSTM v3.0 is the
complete business Web-based software package for small to mid-sized
businesses, Fortune 500 enterprises, government agencies, and
higher education institutions. BoxesOS provides many of the
Web-based applications that organizations would otherwise have to
buy separately. Epazz’s other products are
AgentPowerTM, call center software,
and AutoHireTM, an
applicant tracking system.
SAFE
HARBOR
A “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 generally can be
identified by the use of terms such as “may,” “expect,” “intend,”
“estimate,” “anticipate,” “believe,” “continue” (or the negative
thereof), or similar terminology. Such forward-looking statements
are subject to risk, uncertainties and other factors that could
cause actual results to differ materially from future results
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
assumes no obligation, does not intend to update these
forward-looking statements and takes no obligation to update or
correct information prepared by third parties not paid for by
Epazz. Investors are encouraged to review Epazz’s public filings on
SEC.gov, including its unaudited and audited financial statements
and its Registration Statement, Form 10-Ks, and Form 10-Qs that
contain general business information about the company’s
operations, results of operations, and risks associated with the
company and its operations. Penny stock picks need to be
researched. Do your homework. Please review all of our
filings.
For more information, please
contact:
Investor Relations
investors@epazz.net
(312) 955-8161
www.epazz.com
SOURCE Epazz,
Inc.
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