Voip-Pal.com Inc. (VPLM.PK) announced that a written offer has been received to monetize its telephony technology. Discussions conducted during the recent blackout period, which ended at the close of the market on July 3, 2014, resulted in a written offer to license and/or purchase Voip-pal's patent portfolio.
The company stated that negotiations with respect to this offer and discussions with other prospective purchasers, licensees and partners continue to be conducted in order to assure the best possible outcome for Voip-Pal shareholders.
However, Voip-Pal said it cannot disclose additional details at this time, due to non-disclosure/confidentiality agreements.
Thomas Sawyer, Chairman and CEO of Voip-Pal said,"While management and the Board had hoped to have a conclusive agreement in place prior to the end of the blackout, we are pleased with the meaningful progress toward that end and we remain very positive for the outcome of the company and returns for the shareholders. Our efforts will continue until the Board is able to negotiate a stronger proposal that it can recommend for shareholder approval."
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