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Epazz, Inc. Reports Increase First Quarter Revenue and Profitability; Company is Focusing on Improving Fundamentals; Increasing Sales, Reducing Operational Expenses and Increasing Income

/EINPresswire.com/ -- CHICAGO, IL--(Marketwired - May 23, 2017) - Epazz, Inc. (OTC PINK: EPAZ), a leading provider of cloud-based business software solutions, has announced that the Company has reported its first quarter results for 2017. The Company reported revenue of $473,974 (unaudited) compared to $416,260 for the first quarter 2016. The Company reported a net income of $28,186 (unaudited) compared to a loss of $375,553 for the first quarter of 2016. This is a substantial turnaround in the Company's financial position. Additionally, the Company's interest expense has substantially decreased, dropping from $400,583 for the first quarter of 2016 to just $73,462 for the first quarter of 2017.

Epazz, Inc.'s CEO, Shaun Passley, Ph.D., said, "Our valuation in the marketplace is not reflecting our true value. We are increasing our revenues and decreasing our costs, thereby creating a positive net income. We believe we can finish the year strong. We will continue to move to build shareholder value on all fronts."

Passley continued, "As we go on in 2017, we expect our newly launched Zenapay to begin to generate revenues. Zenapay is our newly launched cannabis payment solution specifically designed for the 420 Industry."

About Epazz, Inc. (www.epazz.com)

Epazz, Inc. is a leading cloud-based-software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions and the public sector. Epazz BoxesOS™ v3.0 is the complete business web-based software package for small- to mid-size businesses, Fortune 500 enterprises, government agencies and higher-education institutions. BoxesOS provides many of the web-based applications organizations would otherwise need to purchase separately. Epazz's other products are AgentPower™ (a workforce management software) and AutoHire™ (an applicant-tracking system).

SAFE HARBOR

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of forward-looking statements such as "may," "expect," "intend," "estimate," "anticipate," "believe" and "continue" (or the negative thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation and has no intention of updating these forward-looking statements, and it takes no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz, Inc.'s public filings on SEC.gov, including its unaudited and audited financial statements as well as its Form 10-Ks, and Form 10-Qs, which contain general business information about the company's operations, results of operations, and risks associated with the company and its operations.

CONTACT:
For more information, please contact:
Investor Relations
investors@epazz.net
(312) 955-8161
www.epazz.com