Day Trading Oct 23 Morning, page-2

ZIP again,
largest holders, K2 Asset Management subscribed 10m shares @20c, holding 16.6% of ZIP.

07 July 2014 By Graeme Philipson Published in Listed Tech

New telecoms company ZipTel has started trading on the ASX. Its new ZipT product is intended as a competitor to Skype. Perth based ZipTel Limited has started trading on the Australia Securities Exchange, with the ASX code ZIP’. The company grew out of AussieSim, and listed through the reverse takeover of defunct mining exploration company Skywards. ZipTel raised the maximum possible $5 million in its recent capital raising, which closed significantly oversubscribed. It has big plans, which include taking on the likes of Skype and Viber in the growing VoIP (voice over IP) market, and using the technology for a low cost global roaming product. “We emerge fully funded to implement a number of specific growth strategies,” said CEO – and founder of AussieSim – Bert Mondello. “We will have an initial focus on increasing our market awareness and growing the AussieSim Brand.” AussieSim is an international pre-paid travel SIM card. Mondello said the company would also be investing in the development of its mobile VoIP product, called ZipT, which it intends to launch in September. “ZipT allows customers to make international calls at some of the lowest rates, and has the ability to deliver crystal clear sound quality in lower data usage environments such as dial up speed.” ZipT has been designed specifically to use significantly less data than its competitors, said Mondello, using compression algorithms to transmit clear voice calls even in congested or low bandwidth areas. The ZipT has already securing key distribution agreements with Mpire Network and AppPharm (CommsWire, 6 May 2014). Mondello said these distribution agreements ensure an immediate path to market and an opportunity to generate revenue prior to its commercial launch to a global audience. Mondello said ZipTel also has a number of other products in development, including RoamEzy, an international roaming SIM. “ZipTel is now fully funded to pursue our growth strategies in the worldwide mobile roaming sales market, which is forecast to grow 20% per annum for the next three years and exceed US$80 billion by 2017,” said Mondello.