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Pareteum Issues Chairman Update LetterNEW YORK, Feb. 12, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, today announced the issuance of a shareholder update letter from its Executive Chairman and Principal Executive Officer, Hal Turner. Dear Fellow Shareholder, The TEUM of Pareteum Corporation continues to be hard at work, globally. We have had a fast start to 2018 with excellent results in January through the collective group initiatives of:
I am happy to report that our executive team, with its key leadership management team, is continuing to produce results. We have a very big and bright 2018 planned. So far this year, in January alone, our TEUM signed $20.4 million of new contracts, spanning the globe, from Brazil to Africa to Europe. $15.2 million was additive to our now record high $162 million 36-month contractual revenue backlog, as two of the awarded contracts are 5-year agreements. I am extremely proud of our TEUM's accomplishments as we have accelerated the growth of our backlog from $60 million at June 30, 2017 to $162 million as of January 31, 2018. We expect the pace to accelerate during the year and that our reported results will reflect the hard work that has gone into the turnaround of our company. We have also experienced financial improvements during January. Our balance sheet reflects materially significant positive changes, notably, with our cash balance standing at $15.6 million on January 31, 2018. This was made possible by:
We are proud to be debt-free with substantial cash to operate and grow our business. We are putting these dollars to work throughout 2018 (and beyond) in a manner that we believe will yield the maximum shareholder value to TEUM through:
Pareteum continues to win new long-term contractual business at an unprecedented pace, as evidenced by our 36-month contractual revenue backlog. We expect this pace to increase throughout the year. Yet, TEUM is never satisfied. We see many new opportunities that include our support of Blockchain technology, which is at the heart of our identity management and payment systems plans. You may register and obtain a complimentary copy of our just released Blockchain-Whitepaper; you may aso be interested in recently published articles at Pareteum.com/news commenting on Pareteum and how we use Blockchain to enable secure and trusted payments. We are planning additional whitepapers throughout the year to support newly acquired product capabilities and developments. Please register here at Pareteum.com/news to receive notifications (See "Keep in Touch with Us" at the bottom of the page). Be assured that we are out there every day competing for business and that our pace and intensity will magnify. Upcoming we have the Mobile World Congress in Barcelona, with a full slate of meeting and product demonstrations scheduled. Our focus is on selling new communications service providers and IoT opportunities as the world of connected devices and people continues to rise on a daily basis. It is this "world" I refer to that desperately needs our application solutions and global connectivity reach, to return trust to transactions, of all kinds. Pareteum is executing improved capital market initiatives in 2018. We are embarking on multi-city non-deal roadshows throughout the year in Europe and the United States. We have just completed a UK and European non-deal roadshow, with excellent participation and reception of the Pareteum story. A mandate for Pareteum in 2018 is to target high quality long-term focused institutional shareholders and high quality research coverage. You may review a copy of our Pareteum Overview here. Please note the new key performance indicators that we have now begun to report on. If you attend one of our investor and management meetings, we will gladly comment on the significance of these KPI's and why we track them so diligently. Pareteum is a mission focused company. We intend to be capable of empowering every person and everything to be globally connected – any device, any network, anywhere. Our Cloud Communications Platform targets large and growing sectors in Mobile Virtual Network Operators (MVNO), retail, enterprise and Internet of Things (IoT) customers. At the end of the day, our continued success is based upon the combination of:
My answers are affirmative … I hope to meet you in the coming days, weeks, and months, to share our perspectives on these critical items. We look forward to continued success in 2018. All good wishes to you our shareholders, Robert H. Turner About Pareteum Corporation Forward Looking Statements: Contractual Revenue Backlog Definition: Pareteum Investor Relations Contacts: Hayden IR
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