I visited VoIP Americas office down in Miami just last year. They have some good engineers working there, including several brilliant engineers from Russia. I met with Albert Rodriguez, a really good guy who demonstrated VoIP Americas hosted VoIP model to me.
Basically VoIP Americas product allows entrepreneurs to get into the VoIP business and offer Vonage-like services by lowering the entry costs and providing all the features you need - billing, rate charges, administration, etc. via a hosted application. No VoIP hardware needed - they have partnered with a very large NOC (Terremark Worldwide) which is the "NAP of the Americas", the 5th Tier-1 Network Access Point in the world which provides competitive termination rates.
Heck, after seeing how easy it was to use their product, I was tempted to sign-up with VoIP Americas and become my own little Vonage!
Here's a quote from the announcement:
"VoIP Americas was founded in 2002 to take advantage of the nascent VoIP market and leverage the skill sets of its founders - Carlos Rivas and Albert Rodriguez. Having overcome the significant hurdles inherent with launching a Next Generation Carrier, VoIP Americas rolled out a suite of products designed to significantly lower the barrier of entry to organizations entering the market. In the last twelve months, VoIP Americas has demonstrated average monthly growth of 20%. Today, VoIP Americas has customers in every continent excluding Antarctica and is terminating over 10,000,000 minutes of VoIP traffic on a monthly basis."
VoIP, Inc. to Acquire VoIP Americas