TLNUF News out! Telecorp Announces Strong Direct Funding Interest And Continued Debt Reductions
Telecorp Announces Strong Direct Funding Interest And Continued Debt Reductions
Feb 25, 2015
OTC Disclosure & News Service
-
Telecorp Announces Strong Direct Funding Interest And Continued Debt Reductions
PR Newswire
BARRIE, Ontario, Feb. 25, 2015
BARRIE, Ontario, Feb. 25, 2015 /PRNewswire/ -- Telecorp, Inc. (OTC Markets: TLNUF) ("Telecorp" or the "Company"
, a growing provider of software communications solutions, is pleased to announce that the Company continues to have strong funding interest from investment partners, to provide direct capital of up to $500,000 to fund acquisitions of emerging mobile applications and software development companies around the world.
The proposed financings will be used towards the acquisition costs of Doozi Entertainment Company, Inc., Dev Datamedics & Software PVT Ltd., and Sveltoz Solutions PVT Ltd.. Terms of the financings are expected to be in the range of 12-24 months, with an effective interest rate of between 8-10% and can be repaid without penalty at any time.
Telecorp is hoping to secure up to five acquisitions before June 30, 2015. Announcements will follow soon.
"Securing this important element of our acquisition financing, will be essential to meeting our expanded software services objectives," stated Paul Phillips, President and CEO of Telecorp, Inc.
The Company is also pleased to announce that management has been highly successful in reducing current debt obligations and anticipates further debt reductions throughout the next two fiscal quarters. In the last 10 months, the Company has been able to reduce approximately $250,000 in outstanding debt obligations on its balance sheet through various negotiated settlements.
"We have taken a number of actions to reduce debt and improve liquidity," continued Phillips. "Our ability to renegotiate notes is a strong indication of our investors' belief in our growth plans and long term success. Expanding through acquisitions and continued fiscal discipline are two main areas of focus for us in 2015."
In other news, Mr. Phillips also announced that the company has teamed up with Investors Hangout, to offer an additional investor information board to inform our shareholders about the Company. Interested parties can visit the new Investor board and discuss Telecorp at http://investorshangout.com/ or http://investorshangout.com/Telecorp-Inc-TLNUF-89743/.
About Telecorp Inc.
Telecorp is an emerging provider of communication solutions to an array of companies and industries including, automotive, real estate, financial, health, charities, and many more. Telecorp offers creative software solutions for communicating with customers at levels never seen before. A total solution that is not only affordable, but indispensable for any business, no matter the size. Telecorp's modules allow the best marketing tools, first rate sales acquisition systems, customer communication processes, and drive greater profitability from every interaction, allowing every user to reduce costs and increase productivity at every use.
The Company's integrated suite of customized solutions includes, but is not limited to: customer acquisition, customer care, automated voice services, emergency communications, conferencing, data management, webinars, customer and hardware support tools, e-mail, fax and text broadcast messaging, direct to voice mail messaging, customized voice messaging, text to speech systems, predictive and progressive dialing, contact management solutions and much more.
Telecorp Inc. was incorporated in Canada in 2009.
Safe Harbor Statement
Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.
www.telecorp.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/telecorp-announces-strong-direct-funding-interest-and-continued-debt-reductions-300041076.html
SOURCE Telecorp, Inc.
Copyright © 2015 PR Newswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Telecorp Announces Strong Direct Funding Interest And Continued Debt Reductions
Feb 25, 2015
OTC Disclosure & News Service
-
Telecorp Announces Strong Direct Funding Interest And Continued Debt Reductions
PR Newswire
BARRIE, Ontario, Feb. 25, 2015
BARRIE, Ontario, Feb. 25, 2015 /PRNewswire/ -- Telecorp, Inc. (OTC Markets: TLNUF) ("Telecorp" or the "Company"
, a growing provider of software communications solutions, is pleased to announce that the Company continues to have strong funding interest from investment partners, to provide direct capital of up to $500,000 to fund acquisitions of emerging mobile applications and software development companies around the world. The proposed financings will be used towards the acquisition costs of Doozi Entertainment Company, Inc., Dev Datamedics & Software PVT Ltd., and Sveltoz Solutions PVT Ltd.. Terms of the financings are expected to be in the range of 12-24 months, with an effective interest rate of between 8-10% and can be repaid without penalty at any time.
Telecorp is hoping to secure up to five acquisitions before June 30, 2015. Announcements will follow soon.
"Securing this important element of our acquisition financing, will be essential to meeting our expanded software services objectives," stated Paul Phillips, President and CEO of Telecorp, Inc.
The Company is also pleased to announce that management has been highly successful in reducing current debt obligations and anticipates further debt reductions throughout the next two fiscal quarters. In the last 10 months, the Company has been able to reduce approximately $250,000 in outstanding debt obligations on its balance sheet through various negotiated settlements.
"We have taken a number of actions to reduce debt and improve liquidity," continued Phillips. "Our ability to renegotiate notes is a strong indication of our investors' belief in our growth plans and long term success. Expanding through acquisitions and continued fiscal discipline are two main areas of focus for us in 2015."
In other news, Mr. Phillips also announced that the company has teamed up with Investors Hangout, to offer an additional investor information board to inform our shareholders about the Company. Interested parties can visit the new Investor board and discuss Telecorp at http://investorshangout.com/ or http://investorshangout.com/Telecorp-Inc-TLNUF-89743/.
About Telecorp Inc.
Telecorp is an emerging provider of communication solutions to an array of companies and industries including, automotive, real estate, financial, health, charities, and many more. Telecorp offers creative software solutions for communicating with customers at levels never seen before. A total solution that is not only affordable, but indispensable for any business, no matter the size. Telecorp's modules allow the best marketing tools, first rate sales acquisition systems, customer communication processes, and drive greater profitability from every interaction, allowing every user to reduce costs and increase productivity at every use.
The Company's integrated suite of customized solutions includes, but is not limited to: customer acquisition, customer care, automated voice services, emergency communications, conferencing, data management, webinars, customer and hardware support tools, e-mail, fax and text broadcast messaging, direct to voice mail messaging, customized voice messaging, text to speech systems, predictive and progressive dialing, contact management solutions and much more.
Telecorp Inc. was incorporated in Canada in 2009.
Safe Harbor Statement
Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.
www.telecorp.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/telecorp-announces-strong-direct-funding-interest-and-continued-debt-reductions-300041076.html
SOURCE Telecorp, Inc.
Copyright © 2015 PR Newswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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