World Quest Networks, Inc.

(972) 361-1980

14911 Quorum Drive, Suite 140

Dallas, TX 75254

www.wqn.net

Sales

$9.9 million

Business Description 

Worldquest Networks is an international Internet telephony and money transfer company. Worldquest's customers utilize our networks of Internet gateways and other traditional networks to place long-distance calls online at discounted rates. Worldquest also sells virtual calling cards processed through other companies’ platforms and from time to time the company sell our excess capacity to other long distance carriers. Through its wholly-owned subsidiary, buyindiaonline.com, Inc. (known as Cash2India), the company also provide a web service that enables customers to send money and a personalized message from the United States to friends, family, or others in India, Sri Lanka, Russia and The Philippines over our Web and telephony network.

All of the company's calls are made from phone-to-phone over our networks. The voice quality of its Internet carried calls is virtually the same as an international telephone call carried over a traditional telephone line. The company focus on the international long distance market, with particular emphasis on the calling patterns between the United States and various countries. Worldquest's virtual calling cards may be used to call from the United States to other countries, to call from other countries to the United States, or to call between countries outside the United States. A substantial portion of the company's revenues are derived from the sale of virtual prepaid phone service to customers calling from the United States to India.

In 2002, the company began selling the WorldQuest CashCard, a multi-purpose stored-value card, and in 2003 we added the ability for customers to upgrade their WorldQuest CashCard to a WorldQuest prepaid VISA®. The WorldQuest CashCard and VISA® CashCard, can be used to withdraw money or check balances at ATM’s worldwide and to pay for merchandise at any location associated with the Plus®, Pulse® or Star® Networks. The WorldQuest VISA® CashCard can be used anywhere VISA® is accepted. Card holders can add money to their card via the direct deposit of their paychecks, by cashing their paychecks, by ACH transfer and by using cash, credit cards, or electronic checks. In addition, the CashCards also serve as a prepaid long-distance calling card, which operates using our telecom infrastructure. 
 

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