PORTLAND, Ore., Oct. 6, 2004 (PRIMEZONE) -- Ontus Telecommunications Corp. (Pink Sheets:ONTT), an FCC licensed international and long distance communications carrier, today announces that Berkshire (Biotechnology) Holding Corporation ("Berkshire") has increased its equity shareholdings in Ontus Telecommunications Corporation.
Ontus announced today that Berkshire has subscribed for an additional 1,500,000 shares of the Company's common stock. The Berkshire investment shares are restricted pursuant to Rule 144. Berkshire's purchase will bring its shareholdings to approximately 30% of the Company.
Paul R. Peterson, CEO of Ontus commented, "It is an important milestone to have early institutional investor support for our Company. In this stage of our public presence, establishing strong links with Berkshire's institutional and financial support will be a valuable component of our VoIP progression."
About Ontus Telecommunications Corporation
Ontus Telecommunications Corporation markets quality VoIP phone services domestically and internationally to residential, small office and home office (SOHO) customers. The Company markets its World Wide Voice(R) VoIP services (www.VoWWW.com) through innovative viral marketing programs. The programs provide an opportunity for any customer to reduce or eliminate their monthly telephone fees, and in some cases generate income from having others sign up for the service. Gross margins are expected to be above industry averages due to lower marketing costs, and reduced communication expense from utilizing ONTT's international network. For additional information, see www.ontus.com.
Forward-Looking Statement
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Ontus Telecommunications Corporation ("Ontus") that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry and in various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market; the timing of orders and manufacturing lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; the ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; increased competition in the networking industry; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters; the ability to recruit and retain key personnel; our ability to manage financial risk; currency fluctuations and other international factors; potential volatility in operating results and other factors listed in Ontus' most recent reports. Ontus' results of operations are not necessarily indicative of Ontus' operating results for any future periods. Any projections in this release are based on limited information currently available to Ontus, which is subject to change. Although any such projections and the factors influencing them will likely change, Ontus will not necessarily update the information, since Ontus will only provide guidance at certain points during the year. Such information speaks only as of the date of this release.