SOURCE: Telco Cuba, Inc.

Telco Cuba, Inc.

April 18, 2016 08:30 ET

Telco Cuba Retires 1.3 Million Dollars in Debt; Provides Interim Update

HOLLYWOOD, FLORIDA--(Marketwired - Apr 18, 2016) - Telco Cuba, Inc. (OTC PINK: QBAN) Telco Cuba, a publicly traded telecommunication provider, today announced it has retired $1.3 million in debt.

CEO William J. Sanchez recently concluded negotiations with prior employees, resulting in a write-off of $1.2 Million in accrued payroll debt. An additional $110,000 in notes were also settled and deducted from the Telco Cuba balance sheet. "I am extremely pleased with the significant debt reduction," said Mr. Sanchez. "We expect to be announcing more news on this front in the very near future."

Telco Cuba is a cellular service provider currently targeting the Cuban-American demographic in the US. Its plans call for providing international calling at lower rates than competitive landline rates, and bundling digital, cell phone and text messaging services in Cuba as soon as it becomes legally viable to do so.

Meanwhile, the Company continues shoring up its corporate infrastructure. "We're currently completing the necessary filings to be up-to-date. We are committed to a transparent business environment," added Mr. William J Sanchez, "one in which shareholders and investors can trust."

Safe Harbor Notice

Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Telco Cuba cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Telco Cuba undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

This press release is issued on behalf of the Board of Directors by William J Sanchez, CEO and Chairman of the board.

Disclaimer Regarding Forward Looking Statements

Certain statements in this press release, on Telco Cuba's ("QBAN") website and other oral and written statements made by QBAN from time to time are "forward-looking statements", as that term is defined in Section 27A of the United States Securities and Exchange Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, Forward-looking statements include, without limitation, statements regarding beliefs, objectives, intentions, goals, plans, strategies, financial projections, any other statements regarding the future and any statements that are not purely historical. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and QBAN expressly disclaims any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date thereof. All forward-looking statements, whether written or oral and whether made by or on behalf of the QBAN, are expressly qualified by these cautionary statements. Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. QBAN's expectations, beliefs and projections are expressed in good faith and are believed by QBAN to have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished. A variety of factors, many of which are beyond QBAN's control affect QBAN's operations, performance, business strategy and results and could cause the actual results, performance or achievements of QBAN to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For QBAN, particular uncertainties arise, amongst others but not limited to and not in any order of importance, from (i) focusing on and allocating more resources on certain target markets (ii) the possibility to raise further equity and debt to fund future growth, (iii) changes in demand for QBAN's products, (iv) performance issues with key suppliers, affiliates, agents, advisors or subcontractors, (v) changes in government changes in laws or regulations to which QBAN or its suppliers are subject, including environmental laws and regulations relating to water or water sources and (vi) the inability to complete announced acquisitions, difficulty or unanticipated expenses in connection with integrating acquired businesses and the risk that anticipated synergies and opportunities as a result of acquisitions will not be realized or the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue projections.

THIS NEWS RELEASE HAS BEEN PREPARED BY QBAN's MANAGEMENT, WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

Contact Information

  • Contact Information:
    Telco Cuba, Inc.
    2001 Hollywood Blvd, Suite 202
    Hollywood, FL 33019
    (305)747-7647
    Stock Symbol: QBAN
    All inquiries: ir@telcocuba.com
    Company Website: www.telcocuba.com