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Friday April 2, 2010
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TAXS, TaxMasters, Inc., TAXS.OB
TAXS, the IRS tax relief company, is the first publicly traded tax resolution firm in the United States. Started by Patrick R. Cox in 2001, TAXS offers services and counsel to taxpayers across the country facing seemingly insurmountable tax problems, and relief from substantial federal tax debt.
Recently, TAXS held a call for investors. TAXS � Founder, President and Board Chairman Patrick Cox used the call to offer insight on the company and discuss investors� top questions. Topics included customer service, revenue trends, marketing strategy, revenue recognition, and future acquisition plans. A recording of the call can be found at www.txmstr.com/investors/Investor-Calls.php.
In discussing the services that TAXS provides to its customers on the call, Mr. Cox explained, �When you get the opportunity to help somebody who has perhaps not been given good advice and you can help them fix that problem, it provides a great deal of personal satisfaction.�
After a brief introduction, Mr. Cox opened the discussion and spoke about customer service, stating that data from customer surveys and numbers of Better Business Bureau complaints versus total customers indicate that TAXS has somewhere in the area of a 97 to 98 percent client satisfaction rating. While TAXS works to enhance services to reach the other two to three percent, 100 percent client satisfaction is not always possible. Mr. Cox stated, �As a service company, customer satisfaction is critical to our success. We take it very seriously.�
Mr. Cox cited revenue figures currently on file with the SEC to show dramatic sales increases from approximately $6.5M annual sales in 2007 to approximately $27M through the first nine months of 2009. �The driving factor for assessing success at TaxMasters is both total revenue and newly booked sales contracts that will become future revenue,� stated Mr. Cox. He reported a compound annual growth rate in newly booked sales contracts of 130 percent based on client contracts signed in January of 2008, 2009, and 2010.
Mr. Cox completed the call by discussing acquisition plans. �We are actively engaged in looking to bring in businesses that have potential for substantial growth. The purpose is to diversify TaxMasters revenue and earning streams. We believe that adds to greater opportunities for investors and greater return.�
Mr. Cox closed the conversation announcing another investor call will follow shortly after TAXS files its Form 10-K with the SEC in late March.
Furthermore, Employer Support of the Guard and Reserve (ESGR) awarded TAXS, the IRS tax relief company, with a Pro Patria Award on Thursday, March 25, 2010. Mr. Cox and Vice President of Sales Alex Clamon attended the ESGR Awards Banquet in Austin, Texas, as part of the National Guard Association of Texas Annual Conference.
Already recognized as a Patriotic Employer by ESGR, TAXS was one of six public and private companies in Texas chosen for a Pro Patria Award in 2010. Each ESGR Committee presents this award annually to employers in their state or territory who have exercised leadership and implemented exceptional personnel policies that accommodate employees who serve in the National Guard and Reserve.
More about TAXS at www.txmstr.com
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