BELLEVUE, Wash.--(BUSINESS WIRE)--
Voip-Pal.com Inc. (“Voip-Pal”, “Company”) (OTC Pink:VPLM) announced
today that it has entered into a voluntary Lock-Up Agreement with its
largest shareholder, Emil Malak. Mr Malak was a co-founder of Digifonica
Intellectual Properties Limited, which was acquired by Voip-Pal in 2013.
Mr. Malak received over 350 million restricted shares of Voip-Pal stock
for the acquisition of Digifonica, representing about 40% of the
Company. Under Rule 144 those shares are now eligible to become free
trading. The voluntary lock-up agreement restricts the sale of those
shares until the successful monetization of Voip-Pal’s technology. Mr.
Malak currently serves as an advisor to the Board of Directors.
"I wholeheartedly believe that Voip-Pal's technology is going to
transform telephony as we know it," stated Emil Malak. "With eight
billion cell phones in the world and the current rapid growth of VoIP,
this patent portfolio of technology holds the key to the future of VoIP
communications as it allows calls to move freely from legacy telephony
to the Internet and will be a fundamental part of every Telco provider
Dr. Thomas E. Sawyer, Chairman and CEO of Voip-Pal stated, “It is
gratifying to the Board and Management to have our largest shareholder
so firmly confident in the future of Voip-Pal.com that he would
voluntarily extend the Rule 144 restriction on his shares.”
About Voip-Pal.com Inc.
Voip-Pal.Com, Inc. (“Voip-Pal”) is a publicly traded corporation (OTC
headquartered in Bellevue, Washington. The Company owns a portfolio of
patents relating to Voice-over-Internet Protocol (“VoIP”) technology
that it is currently looking to monetize.
IR Contact: Rich Inza, 954-495-4600
Source: Voip-Pal.com Inc.