|By Business Wire||
|June 18, 2014 05:04 AM EDT||
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 worldwide."
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 Pink: VPLM) 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.