Contact Information: Contact: Jack Eversull The Eversull Group 972-991-1672 972-991-7359 (fax) E-mail: Email Contact Web Site: www.atsi.net
ATSI Announces April 26, 2007 Redemption Date for Series H Convertible Preferred Stock
| Source: ATSI Communications, Inc.
SAN ANTONIO, TX -- (MARKET WIRE) -- March 5, 2007 -- ATSI Communications, Inc. (OTCBB : ATSX )
announced today that the Company will redeem each share of its Series H
Convertible Preferred Stock outstanding on April 26, 2007 (the "Redemption
Date") for one (1) share of the Company's common stock. After the
Redemption Date, all certificates representing shares of the Series H
Convertible Preferred Stock will be deemed to be converted into and to
represent the same number shares of common stock.
Holders of the Series H Convertible Preferred Stock will receive a notice
of redemption and other necessary documents from American Stock Transfer
and Trust Company, Inc. (AST), ATSI's transfer agent. All documents have
also been posted on the Company's web site at www.atsi.net.
Each issued and outstanding share of Series H Convertible Preferred Stock
is presently convertible at the option of the holder into one and one-half
(1 1/2) shares of common stock. The Series H convertible preferred holder
may exercise their right of conversion at any time prior to the Redemption
Date by submitting their certificate representing shares of Series H
Convertible Preferred Stock to American Stock Transfer and Trust Company,
Inc. with a request for conversion. All conversion requests must be
received on or before April 25, 2007 to be effective. Any certificates
received by the transfer agent after the Redemption Date will not receive
the conversion premium and will be redeemed for one (1) share of common
stock. Shareholders with shares of Series H Convertible Preferred Stock
being held at a brokerage firm should send the information to their broker
for conversion.
ATSI Communications, Inc. operates through its two wholly owned
subsidiaries, Digerati Networks, Inc. and Telefamilia Communications, Inc.
Digerati Networks, Inc. is a premier global VoIP carrier serving rapidly
expanding markets in Asia, Europe, the Middle East, and Latin America, with
an emphasis on Mexico. Through Digerati's partnerships with established
foreign carriers and network operators, interconnection and service
agreements, and a NexTone powered VoIP network, ATSI believes it has clear
advantages over its competition. Telefamilia Communications provides
specialized retail communication services that includes VoIP services to
the high-growth Hispanic market in the United States. ATSI also owns a
minority interest of a subsidiary in Mexico, ATSI Comunicaciones, S.A. de
C.V., which operates under a 30-year government issued telecommunications
license.
Except for the historical information contained herein, the matters
discussed in this release include certain forward-looking statements, which
are intended to be covered by the safe harbor provided by Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. We have identified forward-looking statements by using words such
as "expect," "believe," "should," "may," "intend," and "anticipate" or
words of similar import. Those statements include, but may not be limited
to, all statements regarding our management's intent, belief and
expectations, such as statements concerning our future and our operating
and growth strategy. Although we believe our expectations are reasonable,
our operations involve a number of risks and uncertainties, and these
statements may turn out not to be true. These risks and uncertainties
include the assumption that we will continue as a going business; our
inability to predict or anticipate changes in regulations or the actions of
domestic and foreign governments; and the continued availability of funds
in amounts and on acceptable terms. More detailed information about ATSI
Communications, Inc. is available in the Company's public filings with the
Securities and Exchange Commission. We believe that the assumptions
underlying the forward-looking statements included in this release will
prove to be accurate. In light of the significant uncertainties inherent
in the forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by us or any other
person that our objectives and plans will be achieved. All forward-looking
statements made in this release are based on information presently
available to our management. We assume no obligation to update any
forward-looking statements, except as required by law.