TMCnet News
Telatinos Insiders Retire 368 Million Common SharesMIAMI --(Business Wire)-- Dec. 3, 2004 -- Telatinos Inc. (OTC:TLTA), a Latin American IP-based VoIP service provider, today announced that insider shareholders of the Company have exchanged 368,340,000 Telatinos common shares for a combination of Series B and D Preferred shares. These shareholders will maintain pari passu voting rights, and long term conversion provisions. As a result of the exchange, and a proportionate ensuing decrease in free trading common stock, the Company's common shares issued and outstanding now total 32.8m. The publicly held float is approximately 400,000 shares. About Telatinos Corp. Telatinos is a Latin American based telecom equipment and facilities provider offering full-featured, cost-effective, high-quality local, long distance and international telephone services -- including 911 and E911 -- to both businesses and private residences in Latin America. The Company's products include modular, open and highly focused access and core VoIP network products, supporting a wide variety of VoIP-based applications, including voice access, network peering and control, Class-5 long distance, prepaid calling card, rural telephony and hosted enterprise VoIP applications. Learn more about our Company at www.telatinos.com. Forward Looking Statement This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the VOIP industry and Latin America; in the geopolitical environment; overall information technology spending; the growth of the Internet; levels of capital spending on Internet-based systems and other risk factors. Telatinos results of operations are not necessarily indicative of Telatinos operating results for any future periods. |
