SOURCE: Rapid Link, Inc.

January 07, 2008 09:53 ET

Rapid Link Announces Extensions of Debt With Corporate Officer and Significant Note Holders

OMAHA, NE--(Marketwire - January 7, 2008) - Rapid Link, Inc. (OTCBB: RPID), a leading provider of broadband and communications services to rural and niche markets, today announced the extensions of all Debenture Notes drawn in the favor of Apex Acquisitions, Inc. and John Jenkins, Chief Executive Officer and Chairman of Rapid Link, Inc., effective October 31, 2007.

Highlights of the Amended Notes:

--  All debentures held by John Jenkins have had their maturity dates
    extended to November 1, 2009.
--  All debentures held by Apex Acquisitions, Inc. have had their maturity
    dates extended to November 1, 2009.

"These extensions follow the recent announcement that GCA Strategic Investment Fund Limited ('GCASIF') has extended their debt for two years. This event clearly demonstrates that along with GCASIF, Apex Acquisitions and I are one hundred percent behind the long-term success of Rapid Link. By extending our Notes to match those of GCASIF, we have significantly improved our balance sheet and overall working capital position. We plan to continue to improve our balance sheet and are actively working with all related parties with the goal of attaining positive working capital in the short term," stated John Jenkins, CEO of Rapid Link.

About Rapid Link, Inc.

Rapid Link is a "Communications Services" company providing various forms of voice and data transport service to wholesale and retail customers around the world. The Company's retail product focus involves supplying bundled broadband wireless internet services, with an emphasis on key niche markets. These niche markets include targeted rural geographic locations, specific ethnic demographics, and the United States military. The Company's strategy involves offering broadband access via its own facilities to ensure reliable delivery of its content without compromise from incumbent regional cable monopolies. Rapid Link strives to serve its customers' unique communications needs with a focus on cost efficiency and quality of service. Through the Company's operating headquarters in Omaha, NE, Rapid Link supports customers with in-house multi lingual customer service, proprietary scalable billing systems, and experienced communications professionals.

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Contact Information

  • Contact:
    Investor Relations
    Rapid Link, Inc.
    Tel.: 310-566-1701