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 Secures $1.2 Million Receivables Financing
| Source: ATSI Communications
SAN ANTONIO, TX -- (MARKET WIRE) -- November 30, 2006 -- ATSI Communications, Inc. (OTCBB : ATSX )
today announced that the company has entered into a $1.2 million accounts
receivable financing agreement with CCA Financial Services, Inc. The
financing arrangement with CCA will provide ATSI with access to capital to
fund its growth initiatives and allow the company access to additional
capital in the future as its revenues increase.
Frank Angelo, President of CCA Financial Services stated, "The purpose of
this funding is to facilitate ATSI's continued growth in its core VoIP
business. We are impressed with the company's growth track record and look
forward to working with ATSI in meeting its future goals."
Arthur L. Smith, President & CEO of ATSI Communications, added, "The
financing with CCA will support ATSI's sales initiatives by assisting us in
closing top tier accounts that require extended payment terms. In addition
to allowing us to capitalize on sales opportunities, the financing
agreement will provide us with increased flexibility as it pertains to cash
management."
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.