T-Mobile connection to iTalk is everything, but th
Post# of 8802
Posted On: 08/02/2016 10:47:13 AM
T-Mobile connection to iTalk is everything, but the company (TALK) had too much debt for obvious reason.
So TALK declared B.K using chapter 11 to restructure. Which supposedly is the final piece of the puzzle. So the question now is this.
When will those holding long finally see some "real" benefits from this long arduous process?
Quote:
However, diversification into wholesale device distribution and cellular telephone refurbishment distracted the Company from the focus of doing what it does best. Subsequent closure of these unprofitable divisions refocused the Company in the right direction
So TALK declared B.K using chapter 11 to restructure. Which supposedly is the final piece of the puzzle. So the question now is this.
When will those holding long finally see some "real" benefits from this long arduous process?
Quote:
Unable to obtain adequate debt financing, management decided that it was in the best interest of iTalk's shareholders to pursue a course that would enable the Company to get back on track through equity financing;
Over the past several months, the merger has been implemented and the Company has constructed a corporate framework to achieve management's vision of building a successful national distribution network. A final step in setting the stage for the remodeled financial platform is the reorganization of the UMS subsidiary under Chapter 11. This exercise will deleverage the Company's balance sheet and secure capital investment to realize its aggressive growth plan. We are confident that this model will prove to be a win-win for all shareholders, partners and stakeholders.
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