Epazz a leading provider of cloud based business software solutions, announced today that the Company is moving quickly forward with the Project Human Mobile Power spinoff. Epazz is currently working with a Patent attorney to file for a patent pending status.
Project Human 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.
With regard to growth initiatives, Epazz is actively pursuing acquisitions that are already cash flow positive. Over the last 2 years, the Company has completed two acquisitions and is currently in process of completing a third. The strategy going forward is to continue making accretive acquisitions and spin each one off into its own publicly traded company with a dividend being paid to shareholders. Epazz is in negotiations to acquire several other B2B software companies as part of its long-term strategic growth plan to acquire profitable B2B software companies.
Shaun Passley, CEO of Epazz, stated, “We have been working hard on both the business end and the public company end to bring Project Flex, our first spin off project, to fruition. Our Company is at a point now that we can begin announcing things like dates and percentages as well as other significant information. Project Flex and Project Human Power are going to make a big difference to our bottom line and for our shareholders.”
They begin again with the dubious claim that “Epazz is a leading provider of cloud based business software solutions”. They move on to the more incredible claim that they have spoken to a patent attorney about a vague idea they have and therefore they are ready to spin off that conversation into its own public company. What is the brilliant idea? “[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”. Powered by hot air, perhaps?
Later, the always quotable Mr. Passley suggests that the two proposed spinoffs “are going to make a big difference to our bottom line”. We’re not sure what Mr. Passley knows about accounting that we don’t, but spinning off businesses with no costs and no revenues should not make any difference to Epazz’s bottom line. We’re not sure who the audience is for Epazz’s drivel. We’d like to think that most investors are too smart to fall for this transparent promotion. But in case you’re not and are tempted to buy, please don’t. You’ll thank us later.
Disclosure: The author has no position in any stock mentioned.
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