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Phonetime expanding network

Briefs | 03/13/2007 5:55 pm EDT

Phonetime is expanding its network so that it can handle up to 50,000 simultaneous calls which would allow the company to process more than 800 million minutes of calling traffic per month. "This is a major expansion that will allow us to increase our revenues and profits quickly while serving our customers better with the added network capacity and call processing power. We believe this expansion makes us one of the large network infrastructures in Canada rivaled only by the incumbent telephone companies," Phonetime president and CEO Wayne Silver said in a news release. The company’s software handles all call control and routing functions and has been modified significantly to handle this increased call capacity. The company is also moving to increase analyst mindshare through an agreement with Cronus Capital Markets Inc., which will assist Phonetime in developing strategies to overcome market inefficiencies such as limited market presence, trading volumes and overall liquidity. "In our opinion, Phonetime is a dynamic growth company with a very bright future," Cronus president and CEO Michael Soni said in a news release. "We believe we can assist their management team in telling Phonetime’s story to a wider audience of investors."

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