China Voice Holding Corp. (CHVC.OB) Subsidiary Phone House Inc. Signs Exclusive Supplier Agreement with Sarah Enterprises Inc.
China Voice, a public holding company of next-generation communications products and services, announced March 31, 2008 that its wholly owned U.S. subsidiary, Phone House Inc., a Master Distributor of prepaid calling cards and other telephony related products and services, signed an Exclusive Supplier Agreement with Sara Enterprises Inc., which is a distributor of prepaid telecommunication products.
Phone House offers a large collection of cards that are intended for major ethnic groups. Its products are marketed through an extensive and rapidly expanding national distribution network.
President and CEO of CHVC, Bill Burbank said, “We are very excited to have completed negotiations with Sarah Enterprises, a well known and respected Company that is currently purchasing in excess of $17 Million of product annually. We expect that with our support infrastructure and financial resources, Sarah Enterprises will purchase upwards of $25 Million of our prepaid calling card products during the next 12 months, representing an approximate 40% increase in our U.S. revenues. As the foreign communities in the U.S. continue to grow, they require the ability to call their home countries at competitive rates and this leads to increased demand for the products that Phone House and Sarah Enterprises market.”
Burbank continued to say, “As we continue to complete the Exclusive Supplier Agreements that we have in the works with other quality distributors such as Sarah Enterprises, CHVC is getting within reach of our $100 Million goal in U.S. revenues. These U.S. sales combined with the deployment of our Chinese Government contracts will eventually deliver well balanced revenues for CHVC from both continents. I am very happy with the performance of the team that we have assembled to execute our Business Plan and feel that if the accomplishments that have been achieved thus far in 2008 are any indication of what to expect for the rest of the year, this will be a great year for CHVC and its shareholders.”
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