TMCnet News
Telatinos Announces Effective 30:1 Forward Split & Joint Venture with Colombian ISPs MIAMI --(Business Wire)-- Nov. 30, 2004 -- Telatinos Inc. (OTC: TLTA), a Latin American IP-based VoIP service provider, today announced that the Company now trades under symbol TLTA - OTC BB in conjunction with the Company's effective 30:1 forward stock split effective today, November 30, 2004. The Company also announced that it has entered into a $5 million joint venture with local Colombian ISPs InterplaNet Medellin (www.interpla.net.co/), GeoNet Ltd (www.geo.net.co), and Colomsat S.A (www.colomsat.net.co).The joint venture will market a combined voice and data service to a larger audience than that of the traditional Columbian incumbent telcos. The joint venture projects 2005 gross revenues of approximately US$7 million from VoIP products and services. The joint venture agreement calls for Telatinos to receive 43% of the revenues generated. The Company takes this opportunity to wish its shareholders happy holidays. About Telatinos Inc. 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. |
