Vaspian offers small to medium size businesses a significant (30%+) cost savings in voice and data telecommunications expense through a complete network-based Voice over Internet Protocol (VoIP) platform called X-Tone. X-Tone provides full range of data, voice and phone system features, but requires minimal up-front capital dollars and no ongoing service contracts from the customer. Vaspian has designed and developed a virtual phone system that can serve up to 10,000 customers on one networked server, utilizing dynamic allocation of voice and data.
The Company has launched its service in Western New York, is currently generating sales and has begun generating positive cash flow. Most customers have entered into multi-year contracts with 3-5 year terms. The overall VoIP phone system market, which has just under 100,000 lines today is expected to grow to more than 1.7 million lines by 2007.
The company's management team has a mix of talent and experience coming from a range of world class companies including AT&T, Bell Labs, Western Union, Wang, Broadview Networks, Roche Labs and Value Line.
Vaspian is offering $1,000,000 of convertible debt to fund the company's expansion into additional cities.
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