Executive Summary
Atelis plc has developed a range of VoIP software products to sell via a network of resellers and strategic partners. The Company's software creates what is known as a \Softswitch\, and provides the full functionality of a modern-day telephone exchange but at a significant cost saving to the customer. The Company's products are distributed through a network of telecoms and IT systems resellers. Five major contracts have already been signed with the following resellers: Bezeq International Limited (overseas customers of the Israeli national telecoms carrier), Ebony Enterprises Limited (Uganda and Kenya) , Midas Telecoms Limited (Spain and South Africa), TSG Limited (Romania) and Quinlan Limited (Spain and Ireland). Under the terms of the reseller agreements, the reseller will market and sell Atelis' platforms. Atelis intends to train and support its resellers and offer second level support to them. Atelis' business model has four distinct projected revenue streams: solutions, whereby the Company offers a service marketed by the reseller to its customers, which will be branded for the reseller and will run on a generic Intel server; revenue share on external call traffic generated by customers of the resellers; subscriptions paid by the customer to the reseller for broadband telephony; and ongoing support and maintenance, charged to the customer at approximately 12 per cent. of the price of the initial installation. Atelis will typically share part of the revenue generated from the distinct income streams mentioned above with its resellers. Atelis currently operates in the UK and in Israel, where its development team is based. The proceeds of the Placing will be used to fund ongoing R&D, product development and expansion of the Company's network of resellers.
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