Flint telecom expands VoIP infrastructure in an exponential tempo
Chronology of VoIP services provider Flint telecom activities: On March 3, 2011 Company Flint telecom announced forwarding of a letter of intent to merge a regional VoIP service provider with annual revenues more than $2 million with positive net income.
On April 4, 2011 Flint declared a completed letter of intent
to acquire a second service provider associated with approximately $1.5 million annual revenues and also recorded positive
net income. During the announcements it was foreseen that these transactions
would be completed within 60 days. This has not yet happened due to Flint management's focus
on completing US Federal requirements and inspections forms. However, on June
13, 2011, Flint
announced extra letter of intent to acquire the third telecom service provider
with current annual revenues of $3
million and 10% net income. All three VoIP services providers have existing
customers base, stable revenue streams and net income from delivering next
generation VoIP and data services to small and medium sized enterprises within
the continental US. With its first Federal so called ‘’Form S-1’’ registration
process now completed, management will refocus on completing these acquisitions
as soon as possible and continue to expand the array of oncoming acquisitions
planned for 2011.
All three expected acquisitions continue to be contingent upon the successful completion of Flint's due diligence process, which it expects to finish within the next thirty days. When completed, the three acquisitions are expected to be immediately revenue and margin enhancing to VoIP services provider Flint with conjoined annual revenues in excess of $6.5 million per year and net income of approximately 10% all of which that are growing year-on-year. Upon the fulfillment of this intermediate project Flint management expects that the operating costs will be drastically cut due to shared common services and network cost reductions that will deliver higher net incomes than are generated individually. The consideration for these acquisition are structured with some cash being paid at closing, combined with deferred cash payments with stock and performance related earn-out elements to make the acquisitions as cash neutral to Flint as possible overall.
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