Upco International Inc. announces Corporate Update

Vancouver, BC, June 22nd, 2021, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) announces corporate developments. Upco International Inc, announces that it did not file its annual audited financial statements, management’s discussion and analysis, and related certifications for the fiscal year ending December 31, 2020 (collectively, the “Financial Statements”) on time as required by securities law due to unforeseen administrative and audit delays.

The Company’s audit firm, MSLL, has not yet completed the required audited financial statements for 2020 by the mutually agreed upon deadline of May 31, 2021. MSLL was appointed as the Company’s auditor in April 2020. The Company was informed in mid-May that MSLL would require additional time to complete the audit due to the integration of subsidiaries acquired by the Company.  As a result of these delays, the Company filed for an extension with the BCSC, and a Management Cease Trade Order was granted which provides the Company until July 2, 2021, to file the financial statements.

Upco’s management and Board would like to clarify that the entire international team is working to finish the Audit-review as fast as possible and the company is in good standing, healthy in both its operational and administrative areas. Upco International further announces that the Board is considering moving the listing from CSE to Toronto Stock Exchange, as soon as possible.

Updates on the Business and strategies will be released after the presentation of the year-end Financial Statements and First Quarter.

About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company that provides high-quality voice termination to a market-driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to share account information securely with their clients.

Please visit www.upcointernational.com for further information. ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director office@upcointernational.com

+1 (646) 7661275

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

Upco International Inc. announces Result of Annual General Meeting for 2021

Vancouver, BC, April 26, 2021, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) is pleased to inform shareholders of the Annual General Meeting result. These documents can be accessed from the SEDAR web site at www.sedar.com.

UPCO INTERNATIONAL INC’s shareholders voted in favour of each of the matters considered at the AGM, including:

(i)  the election of Estanislao Peña, Juan Ramos Taboada, Andrea Pagani as directors of the Company;
(ii)  the appointment of MSLL CPA LLC, Chartered Professional Accountants as the Company’s auditors for the ensuing year; and
(iii)  the approval of Upco Interntional Inc’s Stock Option Plan.

Considering the current COVID-19 situation and in line with the applicable Canadian regulation, this year’s Annual General Meeting was conducted solely by voting through independent proxy and without physical attendance of shareholders.

The shareholders of the company elected Estanislao Peña as a new member of the Board of Directors of Upco International Inc. The new board member is considered to be independent and will add deep knowledge and business expertise in the Telecom and Fintech arena for the next milestone in the roadmap of Upco International Inc. Juan Ramos Taboada and Andrea Pagani were re-elected as members of the Board of Directors for a term of office until the 2022 Annual General Meeting.

“We warmly welcome our new Board member, together with my fellow Board members” expressed Andrea Pagani.

MSLL CPA LLC, Chartered Professional Accountants has been elected as the Group’s statutory auditors for the financial year 2021.

About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company that provides high-quality voice termination to a market-driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to share account information securely with their clients.

Please visit www.upcointernational.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director

office@upcointernational.com

+1 (646) 7661275

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward- looking information”) within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

Upco International Inc. announces Change of Board and Corporate Update

Vancouver, BC, February 16, 2021, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) is pleased to inform shareholders about the resignation from the Board of Director of Sebastiano Massimo Galantucci. These documents can be accessed from the SEDAR website at www.sedar.com.  

Upco International thanks Sebastiano for the activities carried out during the last 9 months which represented a transition period for the company and the Management Team, where Sebastiano was a member together with Andrea Pagani and Juan Ramos Taboada. The team was focusing on repositioning the company after the turbulent 2019. 

Following the appointment (last May) as 4th member of the Board, Sebastiano decided to resign, leaving the position in view of the Annual General Meeting, where Upco’s Shareholder will be free to appoint a new Board of Directors. 

Sebastiano Massimo Galantucci says: As Management Team we have been capable to draw a line with the past by closing many open contracts, fix critical issues in the subsidiaries of Upco International and improve the debt position which will be reflected in 2020 Financial Statement. I’m proud together with the Management Team to have been initiated “the FCP program” as the key action plan for the growth of the company via M&A strategy as well as defining the vision of Upco’s digital service with a clear focus for the future in the fintech market. 

Andrea Pagani, CEO says: “We thank you for his contribution, during last year ”. Sebastiano will remain a consultant for the time being by continuing the activities highly focused on “scouting” potential targets for Upco’s M&A strategy in a key geographical area.

Upco international further announces the Digital Area will be leading, starting immediately, by Andrea Pagani.

Andrea Pagani, says: The objectives of Upco as priorities remain:

  • Launch of UpcoPay in Europe.
  • Extensive improvements within the Application including features like group Call, Video group Call

Further Update will be done in the Digital and Wholesale area during the next Press Release.

Upco aims to become a more effective and efficient “partner” for the community much more than a simple communication tool.

About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company that provides high-quality voice termination to a market-driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.

Please visit www.upcointernational.com for further information.  

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director

office@upcointernational.com

212-461-3676

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

Upco International Inc. announces important updates on UpcoPay and Upco Messenger

Vancouver, BC, January 25, 2021, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) is pleased to inform shareholders about the recent developments about the UPCO mobile platform . These documents can be accessed from the SEDAR web site at www.sedar.com.

UpcoPay, License update

UpcoPay is an innovative, highly secure and convenient direct payment solution to make person-to-person (P2P) and person-to-merchant (P2M) payments. In the second stage, with a full e-wallet implemented, users will be able to view multiple account balances, load funds, settle payments and initiate peer-to-peer and Foreign Exchange transfers instantly within the app without the need to create an account or input any bank details.

Strategic partner to provide Payment Initiation Service in all Europe

In relation with the implementation of UpcoPay, with the final Brexit plan effective from January 2021, under the current legislation, UK licence holders cannot passport their licences into Europe and so they cannot continue to operate as a regulated entity. As anticipated, Token.io, Upco’s technological banking partner with a UK licence (provided by the UK Financial Conduct Authority, FCA) will no longer be able to provide services to the organisations across the EU.

Token.io has been working very actively to receive from Bafin (Germany’s supervisory authority) a TPP licence (Third Party Providers) to allow Upco to extend their passporting and carry out Account Information and Payment Initiation Services in Europe,  but in the meantime Token.io announced the ability to use  an alterrnative licence from their strategic partner, “Enfuce” (https://enfuce.com/), authorised by the Finnish Financial Authority, under the Finnish Payment Services Act for the provision of payment initiation and account information services on an interim basis, allowing Upco to proceed with the launch of UpcoPay in Europe. Enfuce have ensured that their services have been passported to all relevant EEA countries where Payment Service Users (PSU) are based.  All underlying operations and technology will continue to be carried out by Token.io

Upco Messenger increased traffic significantly

Recently downloads of privacy-focused messaging apps Signal and Telegram got a boost as users looked for alternatives to Facebook-owned WhatsApp over concerns about changes to the service’s privacy policy.

Upco App also got a spike in downloads, the company noticed a 15% increasing on a weekly basis since beginning of January, mainly driven by key countries in middle east and Asia.

Safety and bandwidth usage

Upco has been operating  the “state-of-the-art end-to-end encryption” as well as a serverless network infrastructure, which prevents messages from being stored and read by those who are not the intended recipient. Besides that, it provides Enhanced Data-saving capabilities: seven times less data bandwidth usage than incumbent apps.  Upco does not sell analytics and data usage to anyone.

Upco’s vision

The vision around the application is to become a platform not only dedicated for a secure basic communication chat and call, but the objective is to provide a personal environment to provide a better support for day-to-day life.

Upco aims to become a more effective and efficient “partner” for the community much more than a simple communication tool.

About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.

Please visit www.upcointernational.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director

office@upcointernational.com

212-461-3676

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward- looking information”) within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

Upco International Inc. Ankündig wichtiges Update UpcoPay und Upco Messenger

Vancouver, BC, 25. Januar 2021, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) freut sich, die Aktionäre über die jüngsten Entwicklungen bezüglich der mobilen Plattform von Upco zu informieren. Diese Dokumente können auf der SEDAR-Website unter www.sedar.com abgerufen werden.

UpcoPay, Lizenz-Update

Upco Pay ist eine innovative, hochsichere und bequeme Direktzahlungslösung für Person-to-Person (P2P) und Person-to-Merchant (P2M)-Zahlungen. In der zweiten Phase, wenn das E-Wallet implementiert ist, werden die Nutzer in der Lage sein, Kontostände einzusehen, Guthaben aufzuladen, Zahlungen abzuwickeln und Nutzer-zu Nutzer-Geldtransfers zu tätigen sowie Devisentransfers der App zu veranlassen, ohne ein Konto erstellen oder Bankdaten eingeben zu müssen.

Strategischer Partner bietet Payment Initiation Service in ganz Europa an

mit dem endgültigen Inkrafttreten des Brexit-Plan ab Januar 2021, können Inhaber von UK-Lizenzen nach der aktuellen Gesetzgebung ihre Lizenzen nicht nach Europa weitergeben und somit nicht mehr als reguliertes Unternehmen tätig sein. Wie wir bereits vor einigen Monaten vorausgesehen haben, wäre Token.io, technologischer Bankpartner von Upco mit UK-Lizenz (von der britischen Finanzaufsichtsbehörde FCA),  nicht mehr in der Lage gewesen, Dienstleistungen für Unternehmen in der gesamten EU anzubieten.

Um dies zu vermeiden hat Token.io intensiv mit der Bafin (der deutschen Aufsichtsbehörde) zusammen gearbeitet um eine TPP-Lizenz (Third Party Providers) zu erhalten, die es Upco ermöglicht, ihr Passporting zu erweitern und Kontoinformations- und Zahlungsinitiierungsdienste in der EU durchzuführen.

In der Zwischenzeit hat Token.io jedoch angekündigt, übergangsweise eine Lizenz ihres strategischen Partners “Enfuce” (https://enfuce.com/), nutzen zu können, die es Upco ermöglicht, mit der Einführung von UpcoPay in ganz Europa zu starten.

Enfuce ist von der finnischen Finanzaufsichtsbehörde gemäß dem finnischen Zahlungsdienstleistungsgesetz für die Bereitstellung von Zahlungs- und Kontoinformationsdiensten autorisiert.

Damit konnte sichergestellt werden, dass  Dienstleistungen in allen relevanten EU-Länden, in denen Zahlungsdienstleistungsnutzer (PSU) ansässig sind, “passportiert” werden konnten.  Alle zugrunde liegenden Operationen und Technologien werden weiterhin von Token.io durchgeführt.

Upco Messenger mit hoher Wachstumsrate im Datentransfer

In letzter Zeit verzeichnen die auf Datenschutz fokussierten Messaging-Apps wie Signal und Telegram einen starken Nachfrageschub , da die Nutzer nach Alternativen zu dem Facebook-eigenen WhatsApp suchen, da sie sich Sorgen über die Änderungen der Datenschutzrichtlinien diseses Dienstes machen.

Upco App verzeichnete in den letzten Wochen einen sehr starken Anstieg der Downloads bei der Nutzung seiner Messager-App. Besonders die für Upco besonders wichtigen Wachstumsmärkte im Mittleren Osten und in Asien trugen zu bemerkenswerten  Wachstumsraten von ca. 15% auf wöchentlicher Basis seit Anfang 2021 bei.

Höchste Datensicherheit und Bandbreitennutzung

Upco arbeitet seit einigen Jahren und bietet eine “hochmoderne End-zu-End-Verschlüsselung” sowie eine serverlose Netzwerkinfrastruktur, die verhindert, dass Nachrichten von Personen gespeichert und gelesen werden, die nicht der beabsichtigte Empfänger sind. Außerdem bietet es “Enhanced Data-saving”-Funktionen: siebenmal weniger Datenbandbreitennutzung als bei etablierten Apps.

Desweiteren verkauft Upco keine Analysen und keine Datennutzung an Dritte.

Upco’s Vision

Upco’s Vision ist es, ein Applikation zu werden, welche nicht nur Basiskommunikationen wie Telefonieren oder Nachrichtenschreiben ermöglichen kann, sondern ein persönliches Ambiente bietet, in welchem der Benutzer Unterstützung in seinem Alltag findet.

Upco zielt darauf hinaus, ein effektiver und effizienter Partner der Nutzer-Community zu werden, viel mehr als nur ein Kommunikations-Werkzeug.

About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market-driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.

Please visit www.upcointernational.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director

office@upcointernational.com

+1 (646) 7661275

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

Upco International Inc. Letter to Shareholders 23, 2020

Vancouver, BC, December 23, 2020, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) is pleased to send an update to all Upco stakeholders on what has been achieved in 2020 and the next steps. These documents can be accessed from the SEDAR web site at www.sedar.com.

In July 2020, we announced the new strategy defined by the new Management appointed a few months earlier. We want to inform all Shareholders about the new plan and the strategy of Upco by emphasizing the determination to focus on the right priorities and the revenues which will flow in the company from now in order to improve the business operations and ultimately, maximize shareholder value.

We would like to review what has been achieved by Upco during the last six months and provide an outlook for the next year, taking into account both internal developments and external conditions.

The highlighted areas of considerations are the following:

  • Market Opportunities & Business Model
  • M&A
  • Restructuring & Financial control
  • Sales and Marketing

Market Opportunities & Business Model

The COVID-19 pandemic has disrupted the daily life of people everywhere. The Pandemic has emphasized our reliance on technology, some of the changes, however, such as the accelerated shift from in-store purchasing to online and digital, present tremendous new opportunities. Following these recent shifts in consumer behavior which we believe to be permanent, we have re-evaluated and shifted our efforts and priorities accordingly. Digital transformation is sweeping through all industries. Consumers have squeezed years-worth of adoption of apps and online banking into just a few months.

Upco’s new business model is based on building a Federated Business Platform for the Telco-Digital space, while such platforms are becoming the predominant business model in the digital era, the application to the Telco business is very limited worldwide, and new services are gaining momentum. Upco’s model responds to an opportunity to leverage this approach and play a lead role.

M&A

Under the Federated Carrier Program (FCP), the first acquisition has been completed on November 21st acquiring Equinox Group which has given us an initial footprint in the Americas that is very strategic for Upco for both areas’ telecom and digital, the second one is in the pipeline, focusing on Asia, and this will complete the first milestone of our Strategy and will allow benefiting from a consolidated over ten years market position in the region Asia-Pacific. The new target is fully complementary to our subsidiaries in the wholesale Telecom market; Additional targets will be considered based on the financial resource availability and the geographic location with the objective to create long term conditions to grow up in the telecom arena.

This strategy will create a solid Revenues source that will enable Upco to accelerate its goal and ambition.

Restructuring & Financial control

 With regard to the Financial Statements, the main focus of the new Management has been on corporate restructuring, reducing the liabilities with an excellent result by decreasing US$ 351.868 in 2020 of work representing the 27 % in Q3 comparing the Year-End Financial Statements 2019. All efforts dedicated to the restructuring and M&A without new capital are the fundamental objectives achieved by the new management to start the strategy of Upco. Our ambitious plans are premised on our ability to continue funding our business. In 2020, we undertook cost-cutting measures. Our disciplined approach to costs will continue through 2021. Surely the new situation will not avoid the need for additional financial resources to support the short- and medium-term growth of our targeted ambitious growth plan in the next 2 years.

Sales & Marketing

Relevant goals are on the agenda of Upco as an outcome of the work done in 2020 considered a transition year. Upco will support the overall sales strategy by obtaining revenue coming from the telecom operation. To scale up our sales and marketing activities on a bigger scale, new partners will be affiliated in the Federated Business Platform; Marketing resources will be necessary to achieve the telecom and digital sales growth which could come only from the new investments and push during the next years our Digital app Upco Pay.

The Board has been showing to all Upco stakeholders, “we think differently” and pursue major objectives and opportunities.  We have been developing new revenue strategies and technologies for Upco that we believe can be scaled globally and in which we can achieve a higher value in the following years. To get there, we will require all present shareholders to support us by attracting new investors who believe in our plan and execution.

On the Management side, we will continue to be nimble and adapt our business model as market conditions evolve. We remain optimistic that these avenues will support our plans. With a smaller nimbler and more focused team we have achieved a great deal and proven to ourselves we are more than capable of thriving in this new economy.

UPCO’s founder and CEO Andrea Pagani says: “Our stock and the overall market have had extreme fluctuations due to multiple factors. While we typically do not discuss the performance of our stock price in our press releases or communications with shareholders, this year has been far from typical and we decided to make an exception.

I would like to thank everybody for the incredible support in the Market recently and we look forward together to have a positive impact really soon; I wish you all a beautiful Merry Christmas extended to all your family.”

 

About Upco International Inc.

Upco International Inc. (CSE: UPCO) is a Vancouver and New York City-based telecom and digital services company founded in 2014 that provides price-competitive, high-quality and privacy-protected telecom and communication payment social platform in niche markets globally.

The Company operates primarily in the telecommunication industry as a global telecom carrier within the international VoIP (voice over IP) wholesale business with a current focus on wholesale international long-distance traffic termination (the Wholesale Telecom business unit or B2B vertical of the business).

Complementary to the goals in its B2B segment, the Company targets to provide subscribers of partner global and local telecom companies reasonable pricing on high-quality on-network international calls, while still offering its users free texting, international airtime top-up capabilities (the ability to add talk-time/data to a user’s pre-paid mobile phone plan), and other social media features present in most over-the-top applications around the world.

The Company is also present in the process of consolidating its wholesale business through the reorganization of its operations into Upco System Inc., while trying to develop its own customer base via its attractive rates and flexible calling plans offered through Upco-out in its Upco Mobile Messenger application (the Digital Services business unit or B2C vertical of the business). Additionally, the Company announced the development of UpcoPay to achieve its desired network effects among its customers in the short to medium term.

Please visit www.upcointernational.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director
office@upcointernational.com
212-461-3676


Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

Upco International Inc. Announces Acquisition of Equinox Group November 23, 2020

Vancouver, BC, November 23, 2020, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) is pleased to announce the acquisition signed at 18th of November 2020 of Equinox Group  www.equinox.do Equinox is a Dominican Republic Teleservices Company with wholesale operations in the USA and in niche markets in the Caribbean, through offices in Miami and Dominican Republic.

Equinox is joining the “Federated Carrier Program” by selling 51% of the company in exchanged of 7,023,145 UPCO Shares, for a total amount of $US 223,740.06 or equivalent to $CAD 292,271.64.

Equinox will:

  • Accelerates Upco consolidation strategy and boosts size of Upco Systems Inc, its operating company in NY
  • Becomes long-term partner for international voice and retail traffic services.
  • Validates expertise in fast paced integration and attractiveness of FCP model
  • Boosts marketing services to promote Upco Mobile messenger and UpcoPay to increase retail organic growth in Central and South America as well immigrants in the US and Canada from Caribbean helping in payments and remittances services.

Upco International (UPCO), telecom and digital services company group, enabling operators and digital players worldwide, announces the acquisition of EQUINOX.

The transaction to UPCO’s M&A and consolidation strategy, is starting after the announcement in July 2020.

The deal strengthens UPCO’ footprint in Spanish-speaking and French-speaking markets. The transaction also reflects UPCO’s strong development on retail services by leveraging over EQUINOX’s telemarketing international services.

UPCO’ carving-out solutions enable operators and digital players worldwide to better manage the complexities of the international voice business by delivering competitive and predictable pricing, mitigating cost, profitability, and quality risks, while providing faster time to market for new international services.

Equinox’s management has more than 20 years’ experience in the telecom arena in various positions. Currently Equinox is focused on providing outsourcing and marketing services to different regional telecom operators by taking the advantage of the cost-efficient structure offered by the Dominican Republic as well as, through the Miami office, they offer telecom services for the US and Global markets.

Equinox’s founder and CEO Mr. Nestor Bacchella says, “Equinox brings the experience of niche markets like the Caribbean and Latin America and will exploit the natural synergy between the two groups.”. In addition to its commercial relationships developed over many years with the leading telecommunications companies in Central, South America and Europe.

Equinox VP Sales & Partner, Rafael Luces added “I’m proud to join in the new organization with the commitment to enrich the position of the group in the local region”

UPCO’s founder and CEO Andrea Pagani says “I’m really proud of this 1st step and the new management’s ability to execute on this acquisition, we all see a lot of synergies with Equinox, with our subsidiary Upco Systems Inc, in NY and finally our Telecom business unit will start to generate steady Revenues immediately; moreover, using the marketing experience in Latin America provided by Equinox, Upco will start promoting its application to retail marketplace.

The completion of this deal is an important achievement for Upco management, as this is a complete turn-around, bringing asset and value to all shareholders.


About Upco International Inc.

Upco International Inc. (CSE: UPCO) is a Vancouver and New York City based telecom and digital services company founded in 2014 that provides price competitive, high-quality and privacy-protected telecom and communication payment social platform in niche markets globally.

The Company operates primarily in the telecommunication industry as a global telecom carrier within the international VoIP (voice over IP) wholesale business with a current focus on wholesale international long-distance traffic termination (the Wholesale Telecom business unit or B2B vertical of the business).

About Equinox Teleservices SRL

Equinox is a company founded in Dominican Republic and managed by a group of professionals with extensive experience in the telecommunications, technology and services areas. We provide a different perspective on adapting business solutions to the market, where efficiency and flexibility are the main keys to success. With more than five years’ experience in the industry, ensuring that the services provide high quality, accuracy and low costs. Being the leading service platform in the field of telecommunications of the Dominican Republic, providing high quality service, based on cost effective solutions, generating an additional value for the benefit of our customers.

Equinox’s headquarter in Santo Domingo with technical facilities in full operation as well as a back-office team highly motivated, to support the Sales office in USA.

Please visit https://www.upcointernational.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director
office@upcointernational.com
+1212-461-3676

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

These documents can be accessed from the SEDAR web site at www.sedar.com.

 

Upco International Inc. Announces the launch of UpcoPay test phase. October 29th, 2020

Vancouver, BC, October 29, 2020, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) is pleased to announce the launch of UpcoPay first phase test. These documents can be accessed from the SEDAR web site at www.sedar.com.

Upco has been working to launch in the coming months UpcoPay which, initially, is an innovative, highly secure and convenient direct payment solution to make person-to-person (P2P) and person-to-merchant (P2M) payments. In the second stage, when e-wallet implemented, users will be able to view multiple account balances, load funds, settle payments and initiate peer-to-peer and Foreign Exchange transfers instantly within the app without the need to create an account or input any bank details.

Beginning 2021, Upco users in Europe will be able to use UpcoPay to send and receive money easily, securely and without the use of any credit or debit card. This service will be expanded into other jurisdictions over time.

UpcoPay allows transfer between Upco users and vendors that subscribe to the service, protecting individual privacy while being compliant with regulatory frameworks. UpcoPay will also be able to deliver substantially reduced transaction fees over conventional services provided by major existing payment networks, delivering significant savings to vendors and ultimately to consumers.

Thanks to its strategic partner Token.io to leverage its open banking platform for mobile transaction processing. Under the terms of the agreement, UpcoPay, an extension of Upco Mobile Messenger, will use Token Pay™ to enable the delivery of account-to-account (A2A) transfer services and account-to-merchant (A2M) payment services. Token.io is a leading open banking platform provider, connected to more than 6,000 banks throughout Europe. Their platform enables PSD2 compliance, data aggregation and bank direct payments driven by Smart Token technology for banks and TPPs.

Integration with Token’s open banking platform significantly enhances the options that are available via Upco Mobile Messenger, while simplifying A2A and A2M transaction processing. Token’s API provides pan-European bank connectivity, so that Upco can quickly and cost-effectively establish a connection to any bank to initiate payments and data requests on behalf of its customers. Using Token’s interface, payments are confirmed instantly, and transaction fees are reduced by up to 50%.

Starting from December 2020, UpcoPay will be available, as testing phase, to execute payments or transfer for Upco users which has bank account with UniCredit and ING bank in Italy.

The Company is excited about rolling out its new POS payments system given the expected global growth in FinTech, especially within mobile payments. According to Statista, in 2020, global transaction volume in the mobile Point of Sale payments space was expected to reach approximately US$1,500 billion and projected to increase to over US$4,150 billion by 2024, a 29.4% CAGR.

Complementary to the goals for the wholesale telecom business unit,  in B2B segment, the Company already provides with the  APP communication facilities, which offering its users free text and call, but also at reasonable pricing on high-quality on-network international calls, with preliminary calculations estimating savings across the value line of up to 40% on these types of calls, but also with international airtime top-up capabilities (the ability to add talk-time/data to a user’s pre-paid mobile phone plan), and other social media features present in most over-the-top applications around the world.

Upco’s new business model is to build a Federated Business Platform for the Telco- digital industry. While such platforms are becoming the predominant business model in the digital era, their application to the Telco business is very limited worldwide, and substitute services are gaining momentum. Upco’s model responds to an opportunity to leverage this approach and play a lead role in this new era in the Telco-digital industry.

Upco International is also pleased to announce the appointment of Mr. Osvaldo Navarro as CFO Supporting the new M&A strategy, the Federate Carrier Program and company growth based on his experience in significant companies such as: Delta Energia, Baf Capital, Cargill, Enel-Endesa.

Mr. Navarro hold an MBA at IAE Business School, and he is a Civil Engineer, graduated at University of Buenos Aires.

Mr. Andrea Pagani Chief Executive Officer, Upco International Inc., commented, “Upco International is demonstrating with its new management a significant turn around and I’m pleased to start working with Mr. Navarro. I am thrilled to see the result of UpcoPay test and its new User Interface and User Experience. We have selected a strategic graphics company in Germany to best suit the European Market.”

About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company that provides high-quality voice termination to a market-driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.

Please visit www.upcointernational.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director
office@upcointernational.com
212-461-3676

 

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

Upco International Inc. Announces Second Quarter Results ended June 30, 2020

Vancouver, BC, October 20, 2020, Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) is pleased to announce it has filed its consolidated financial statements and Management’s Discussion and Analysis for the second quarter ended June 30, 2020.  These documents can be accessed from the SEDAR web site at www.sedar.com.

Upco reported revenues US$ 4,625 (2019 – US$ 36,446) and a net loss of US$ 560,103 (2019 – net loss of US$ 214,815) for its second quarter ended June 30, 2020.

The first 6 months of 2020 has been affected by the turbulent event of the global Covid pandemic. In the same time Upco International inc.  announced the appointment of Mr. Juan Ramos Taboada as Upco’s Head of its Wholesale Telecom business unit and Mr. Sebastiano Massimo Galantucci as Upco’s Head of its Digital Services business unit.  Both of them also entered in the Board of Director.

Upco’s new business model will be based on building a Federated Business Platform for the Telco- digital industry. While such platforms are becoming the predominant business model in the digital era, their application to the Telco business is very limited worldwide, and substitute services are gaining momentum. Upco’s model responds to an opportunity to leverage this approach and play a lead role in this new era in the Telco-digital industry.

Therefore, Upco’s strategy will invoke a four-phase approach as follows: 1) leverage core business capabilities and assets (Wholesale Telecom), 2) reinforce the core business by expanding into related areas (Voice and Data), 3) continue adding value to customers through extended offerings (OTT and UpcoPay), and 4) continued growth by leveraging a synergized product mix. Key elements of the plan are targeted for delivery over a three-year period by 2022.

Upco has been working to launch in the coming months UpcoPay which is an innovative, highly secure and convenient eWallet solution to make person-to-person (P2P) and person-to-merchant (P2M) payments. Users will be able to view multiple account balances, load funds, settle payments and initiate peer-to-peer and FX transfers instantly within the app without the need to create an account or input bank details.

With regard the Q2 Financial Statements, the main focus of the new Management has been on corporate restructuring, reducing the liabilities with an excellent result by decreasing US$ 290,773, in 6 months of work representing the 22,5% comparing the the Year End Financial Statements 2019.

Highlights for the two quarters:

 

  • Announced the agreement with Token.io to leverage its open banking platform for mobile transaction Under the terms of the agreement, UpcoPay, an extension of Upco Mobile Messenger, will use Token Pay™ to enable the delivery of account-to-account (A2A) transfer services and account-to-merchant (A2M) payment services. Token.io is a leading open banking platform provider, connected to more than 6,000 banks throughout Europe. Their platform enables PSD2 compliance, data aggregation and bank direct payments driven by Smart Token technology for banks and TPPs.

Integration with Token’s open banking platform significantly enhances the options that are available via Upco Mobile Messenger, while simplifying A2A and A2M transaction processing. Token’s API provides pan-European bank connectivity, so that Upco can quickly and cost effectively establish a connection to any bank to initiate payments and data requests on behalf of its customers. Using Token’s interface, payments are confirmed instantly, and transaction fees are reduced by up to 50%.

  • StreamOn (Deutsche Telekom)

Upco Messenger has been successfully tested by Deutsche Telekom, provider of StreamOn. Consequently, Upco will be added as a StreamOn “Social & Chat” Partner effective May 4, 2020. Deutsche Telekom, formed in 1995, is a German telecommunications company headquartered in Bonn, and the largest telecommunications company in Europe on the basis of revenue. Via StreamOn, users with a Deutsche Telekom Mobile SIM enjoy EU-wide use of the audio, video, gaming, and social media and messenger services of participating partners without using the data assigned to their contract subscription (i.e. essentially streaming without worrying about data usage).

  • Vodafone Passport

Upco Messenger has been successfully tested by Vodafone GmbH, Consequently, The Vodafone Chat Pass program enables subscribers to use currently available Messenger Apps, now including Upco Mobile Messenger, to stay in touch without consuming their high-speed volume. The Pass program includes many major providers, including Facebook Messenger, Threema, and WhatsApp. And Upco has been officially announced as Partner effective July 24, 2020. Vodafone GmbH, a German subsidiary of Vodafone Group plc, provides mobile phone, DSL, LTE, cable internet, landlines, cable TV and IPTV services to customers in Germany. As of the fourth quarter of 2019, the company had 51 million mobile customers in Germany, making it the largest provider of mobile phone services in Germany. Vodafone Group plc is a British multinational telecommunications company, headquartered in London, and ranks fourth among mobile operator groups globally.

  • Telecom Targets

Few discussions started after defined the new strategy for M&A, under the Federated Carrier Program (FCP). One of them is particularly in advanced stage. The signature of the Head of terms has been executed, meanwhile an additional one is going in parallel and should be coming to end by Q3. The two targets are fully complementary and together with an internal growth in the wholesale sector, Upco shall finally achieve the operational step which allow to be a player in the global telecom market.


About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company that provides high-quality voice termination to a market-driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.

Please visit www.upcointernational.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director
office@upcointernational.com
212-461-3676

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

Upco International Inc. Announces Updated Growth Strategy & Live Webinar on July 23rd

Highlights:

  • Live webinar on Thursday, July 23rd at 11:00am ET to update shareholders on current operations, its growth
    strategy and upcomingmilestones
  • Updated Corporate Presentation will be available on the Company website at the time of the livewebinar
  • Upco’s updated growth strategy to take on the changing telecom and financial industries landscape

Vancouver, BC, July 20, 2020, Upco International Inc. (CSE: UPCO, Frankfurt: U06) (“Upco”, the “Company”) will be hosting a live webinar on Thursday, July 23rdat 11:00am ET (8:00am PT) to update investors on Upco’s current operations, updated growth strategy and upcoming milestones. Management will be available to answer questions following the presentation on the webinar platform.

You can register for the webinar, through the link provided below:

Webinar Date: Thursday, July 23rd, 2020
Time: 11:00am ET
Register (live event & recording): https://attendee.gotowebinar.com/register/5915885338156848399

To ask management a question during the live event, you will need to be logged into the GoToWebinar platform. Otherwise, you may submit your questions prior to the event via the registration link above or by emailing team@rbmilestone.com. This webinar will be recorded and posted on Upco’s website following the presentation. Upco’s updated July Corporate Presentation will be available on the Company website (www.upcointernational.com) at the time of the live webinar. Additionally, Company website will be fully updated with new content in the following days leading to the webinar.

Upco’s Updated Growth Strategy

Upco’s strategy around creating synergies between its wholesale telecom business and digital services is not new. However, the way in which the Company plans to execute on this moving forward is what the Upco team is looking forward to expressing in the live Webinar and showing to its shareholders through corporate updates.

More specifically, the business model will be re-aligned into two discrete business units based on target sector: one for Wholesale Telecom (B2B) and one for Digital Services (B2C). Wholesale Telecom will be coordinated by Upco international but managed operationally by dedicated companies that will be encompassed in the Upco group of companies over time. Digital Services will be coordinated through the wholly owned US subsidiary, Upco Systems Inc., based in New York. This natural division will enhance business focus and activities in the two key areas, while also substantially extending Upco’s focus on the European market. Consequently, while the Wholesale Telecom business unit will attack a very fragmented sub-market within the international Wholesale market, the Digital Services business unit will be particularly favored by this initial emphasis on the European market due to the more favorable regulation for its highly innovative UpcoPay product.

The synergies between the B2B and B2C verticals will allow the Company to offer international long- distance calls through an internet connection using the Company’s existing VoIP network with more than 250 active Tier 1, 2 and 3 global carriers that connect subscribers in roughly 170 countries.

Upco’s new business model will be based on building a Federated Business Platform for the Telco- digital industry.While such platforms are becoming the predominant business model in the digital era, their application to the Telco business is very limited worldwide, and substitute services are gaining momentum. Upco’s model responds to an opportunity to leverage this approach and play a lead role in this new era in  the Telco-digital industry.

Therefore, Upco’s strategy will invoke a four-phase approach as follows: 1) leverage core business capabilities and assets (Wholesale Telecom), 2) reinforce the core business by expanding into related areas (Voice and Data), 3) continue adding value to customers through extended offerings (OTT and UpcoPay), and 4) continued growth by leveraging a synergized product mix. Key elements of the plan are targeted for delivery over a three-year period by 2022.

UpcoPay is an innovative, highly secure and convenient eWallet solution to make person-to-person (P2P) and person-to-merchant (P2M) payments. Users will be able to view multiple account balances, load funds, settle payments and initiate peer-to-peer and FX transfers instantly within the app without the need to create an account or input bank details.

UpcoPay allows the anonymous transfer of money between Upco users and vendors that subscribe to the service, protecting individual privacy while being compliant with regulatory frameworks. UpcoPay will also be able to deliver substantially reduced transaction fees over conventional services provided by major existing payment networks, delivering significant savings to vendors and ultimately to consumers.

Upco’s Team Update

Upco is also pleased to announce the appointment of Mr. Juan Ramos Taboada as Upco’s Head of its Wholesale Telecom business unit and Mr. Sebastiano Massimo Galantucci as Upco’s Head of its Digital Services business unit.

Prior to joining Upco, Mr. Ramos Taboada was the Vice President at KPN iBasis Latin America and Caribbean (based in Argentina). He has extensive experience playing lead roles in building successful mobile and telecom companies including iBasis, which grew to be one of the largest carriers of international voice traffic in the world. From 2011 to 2015 he was the COO of Business Telecommunications Systems (revenues approx. USD $350m), where he was responsible for global operations. He has also worked as a strategic advisor for SKYPE where he was instrumental in helping to develop its Latin American footprint. Effective immediately, Mr. Ramos will take on the roles of Member of the Board and Head of Wholesale Telecom at Upco International Inc.

Mr. Galantucci joined Upco Systems in 2019 and, effective January 1, 2020, became the Executive Manager responsible for the Digital Services business unit at Upco, which includes UpcoPay and UpcoNet. He joins the Board with more than twenty years of diverse experience in the traditional telecom sector, and more recently in the digital arena. His broad experience in cross-cultural business management ranges from leading local teams to executive management positions. Prior to joining Upco, Mr. Galantucci was involved in building a Digital Enabler focusing on innovative telecom (OTT) and fintech solutions, with operations in London, Bahrain, Hong Kong and Manilla. His key areas of interest are M&A and business development. Effective immediately, Mr. Galantucci will take on the roles of Member of the Board and Head of Digital Services at Upco International Inc.

Mr. Andrea Pagani, Chief Executive Officer of Upco International Inc., commented, “The extensive experience, knowledge and relationships that Mr. Ramos and Mr. Galantucci bring to Upco’s core business will be instrumental in our growth plans moving forward. We welcome both to their new roles with much excitement and look forward to unlocking value for our shareholders.”

About Upco International Inc.

Upco International Inc. (CSE: UPCO) is a Vancouver and New York City based telecom and digital services company founded in 2014 that provides price competitive, high-quality and privacy-protected telecom and communication payment social platform in niche markets globally.

The Company operates primarily in the telecommunication industry as a global telecom carrier within the international VoIP (voice over IP) wholesale business with a current focus on wholesale international long-distance traffic termination (the Wholesale Telecom business unit or B2B vertical of the business).

Complementary to the goals in its B2B segment, the Company targets to provide subscribers of partner global and local telecom companies reasonable pricing on high-quality on-network international calls, while still offering its users free texting, international airtime top-up capabilities (the ability to add talk- time/data to a user’s pre-paid mobile phone plan), and other social media features present in most over-the-top applications around the world.

The Company is also presently in the process of consolidating its wholesale business through the reorganization of its operations into Upco System Inc., while trying to develop its own customer base via its attractive rates and flexible calling plans offered through Upco-out in its Upco Mobile Messenger application (the Digital Services business unit or B2C vertical of the business), which will be marketed as “UpOne” soon. Additionally, the Company announced the development of UpcoPay to achieve its desired network effects among its customers in the short to medium term.

Please visit www.upcointernational.com for further information. Company website will be fully updated with new content in the following days leading to the webinar.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO Upco International Inc., Upco Systems Inc.

Investor Contacts

Upco International Inc.
Andrea Pagani, CEO
office@upcointernational.com
+1 (212) 461 3676

RB Milestone Group LLC
team@rbmilestone.com
New York, NY &
Stamford, CT

Forward-Looking Statements

Except for the statements of historical fact, the information contained herein is of a forward-looking nature. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by statements containing forward-looking information. Such factors include continued availability of capital and financing and general economic, market or business conditions.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that statements containing forward-looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on statements containing forward- looking information. Readers should review the risk factors set out in the Company’s Filing Statement as filed on SEDAR.