VoIP-Pal Announces New Appointments to the Board of Directors and CFO
VoIP-Pal.com Inc. (OTCQB: VPLM) has appointed Kevin Williams as the new Chief Financial Officer and Director, bringing over 30 years of experience in various industries. The Company has relocated its U.S. operations to Waco, Texas, discontinuing the Bellevue office. D. Barry Lee resigned as CFO but will remain as an advisor. Two new independent directors, Dr. Ryan Thomas and Dennis Chang, have also been appointed. The leadership change is crucial for the Company as it aims to monetize its patent portfolio while navigating the complexities of patent litigation.
- Appointment of Kevin Williams as CFO adds extensive financial expertise.
- Leadership changes may provide a fresh perspective for monetizing patents.
- Dr. Ryan Thomas's legal experience could strengthen patent defense strategies.
- Dennis Chang's past contributions may enhance the Company's strategic direction.
- Departure of CFO D. Barry Lee may cause short-term continuity concerns.
- Potential challenges in monetizing patents due to litigation risks.
WACO, Texas, March 23, 2021 (GLOBE NEWSWIRE) -- VoIP-Pal.com Inc. (“VoIP-Pal”, “Company”) (OTCQB: VPLM) is pleased to announce the appointment of Kevin Williams as the new Chief Financial Officer and Director. Mr. Williams is an experienced financial consultant with over 30 years of business expertise in the banking, brokerage, energy, and aerospace industries. He has an extensive history in funding start‐ups, corporate accounting and compliance for both private and publicly traded companies. Mr. Williams has been working out of the Company’s Waco office since early 2020. Last month, VoIP-Pal discontinued its office in Bellevue, Washington and officially relocated its U.S. operations to Waco, Texas.
Additionally, D. Barry Lee has resigned from his position as CFO and Director. Mr. Lee will stay on as an advisor to VoIP-Pal and will work closely with the new CFO during the transition.
The Company has also appointed Dr. Ryan Thomas and Dennis Chang as independent directors to fill the vacancies that were created in December with the departure of Dr. Colin Tucker and Professor Edwin Candy.
Dr. Ryan Thomas, who formerly served as VoIP-Pal’s in-house counsel, has been appointed to the Board of Directors. Over the course of his career, Dr. Thomas has served on many business and professional boards and held several key administrative positions. He has been a teacher of law and business. Dr. Thomas has a strong technological and computer science background and has previously assisted the Company with inter partes reviews filed against VoIP-Pal’s patents, which were resolved in the Company’s favor. During his previous tenure with VoIP-Pal, Dr. Thomas was instrumental in advising the Company on a variety of important legal matters.
Dennis Chang, who has previously worked for VoIP-Pal in various roles, has also accepted an appointment to return and serve on the Board of Directors. Mr. Chang has strong managerial and entrepreneurial experience and has been an important part of the Company’s leadership team since 2009. In 1988, Mr. Chang was included in the MicroTimes list of the 100 most influential people in the microcomputer industry. He was nominated as a finalist in 1989 for “Entrepreneur of the Year” by Ernst & Young.
VoIP-Pal CEO Emil Malak said, “We are very pleased to welcome our new Directors. This is a very important time for VoIP-Pal and I am glad to have a team as experienced as our new Board. I also want to thank Barry Lee for his time with the Company, as he was instrumental in helping us become fully audited and SEC compliant and getting VoIP-Pal uplisted to the OTCQB. I wish him the best in his new endeavors, and I appreciate his desire to stay on as an advisor.”
About VoIP-Pal.com Inc.
VoIP-Pal.Com Inc. is a publicly traded corporation (OTCQB: VPLM) holding a portfolio of patents relating to Voice-over-Internet Protocol (“VoIP”) and other technology that it is currently looking to monetize.
Any forecast of future financial performance is a “forward looking statement” under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment. While the Company believes in the circumstances that legal action is needed to monetize its patents, patent litigation involves various risks and uncertainties that could affect its ability to monetize the patents. We recognize that it is impossible to predict the specific outcomes of litigation.
Corporate Website: www.VoIP-pal.com
IR inquiries: IR@VoIP-pal.com
IR Contact: Rich Inza (954) 495-4600
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