SOURCE: Dial Thru International

June 06, 2005 09:30 ET

Dial Thru International's Existing Investors Extend Maturity of Note Payable and Convertible Debentures

LOS ANGELES, CA -- (MARKET WIRE) -- June 6, 2005 -- Dial Thru International (OTC BB: DTIX) today announced that it has negotiated an extension of the company's $1.25 million 12% Note Payable (Note) with Global Capital Funding Group, L.P. (Global) from its due date of November 8, 2004, to February 28, 2008. The interest rate on the Note was lowered to 10.08%. In addition, Dial Thru has negotiated an extension of its two 6% $550,000 Convertible Debentures with GCA Strategic Investment Fund Limited (GCA). The maturity date for the debenture originally issued in January 2002 was extended to November 26, 2005, and the maturity date for the debenture originally issued in July 2003 was extended to November 26, 2006. The Debentures had a maturity date of November 8, 2004.

"Both Global and GCA have shown their support over the past four years by providing financing, and flexibility regarding the terms of their respective financings, helping to support our growth and further emphasizing their belief in the direction of our company," said John Jenkins, Chief Executive Officer of Dial Thru. "We believe these extensions will enhance our ability to aggressively grow our new Voice over Internet Protocol (VoIP) products that we have recently announced."

In addition to the extensions, interest of approximately $350,000 due on the Note was converted to a non-interest bearing note payable due in March 2007.

About Dial Thru International

Founded in 1997, Dial Thru provides value-added VoIP communication services to customers, both domestically and internationally. Dial Thru has become a leading provider of proven, high-quality Internet telephony products, services and infrastructure for service providers, businesses and individuals worldwide. The company's VoIP offerings include PC-to-phone, phone-to-phone and broadband phone solutions. Dial Thru's network spans more than 15 countries on five continents. The company also provides a robust back-office suite of products, including billing, operations management, marketing support, inventory management, accounts payable, accounts receivable, sales force automation, commission management, trouble ticket reporting and network management online, so that any business customer can manage his telecommunications system in a real-time environment. For more information about Dial Thru, please visit www.dialthru.com.

Except for historical matters contained herein, the matters discussed in this press release are forward looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Dial Thru's business and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are the inherent uncertainty of financial estimates and projections, the competitive environment for Internet telephony, Dial Thru's limited operating history, changes of rates of all related telecommunications services, the level and rate of customer acceptance of new products and services, legislation that may affect the Internet telephony industry, rapid technological changes, and other risk factors contained in Dial Thru's periodic reports on Forms 10-K and 10-QSB on file with the SEC and available through http://www.sec.gov.

Contact Information

  • Contact:

    John Jenkins
    CEO
    Dial Thru International
    310-566-1701

    Ed Lewis
    CEOcast, Inc., for Dial Thru International
    212-732-4300