SAN ANTONIO, March 10, 2005 (PRIMEZONE) -- ATSI Communications, Inc. (OTCBB:ATSX) today provided a recap of significant events during the past seven months that reflect the Company's progress since successfully executing its reincorporation and recapitalization plan during the 4th quarter of FY2004.
During the current fiscal year, the Company has met several key corporate objectives while successfully reaching internal milestones of its revised business model. The progress made has resulted in significant revenue growth, improved financials and has laid the foundation for the Company to meet its long-term goal of building shareholder value. The new ATSI has maintained a continued focus on enhancing shareholder communications and relations. This information is not inclusive of all events announced during the period. For all press releases, please go to www.atsi.net, click on Investor Information and go to Press Releases.
Significant events in the last seven months include:
August 2, 2004: ATSI is approved by NASD for trading on the
Bulletin Board. ATSI commences trading on the OTC
Bulletin Board under the symbol ATSX.OB.
August 30, 2004: ATSI acquired assets from Hispanic based
Competitive Local Exchange Carrier ("CLEC") and
launches Telefamilia initiative. The assets
purchased included a customer base, a customer
billing and management system, and supplier
contracts. The transaction also included the
assignment and transfer of a CLEC license in the
State of Texas.
November 4, 2004: ATSI reported significant growth in its core
VoIP business. 800% surge in monthly VoIP call
volume and nearly 350% monthly revenue increase
since deploying NexTone VoIP system during 4th
quarter of FY2004.
December 6, 2004: ATSI announced reduced liabilities of $2.2 million
and a balance sheet improvement totaling $2.7
million. The Company successfully converted
several debt obligations to equity and converted a
$500,000 current liability to a long-term note.
December 9, 2004: ATSI revenues were up 130% quarter over quarter
and 1022% over previous fiscal year's 1st quarter.
February 3, 2005: ATSI revised 2nd quarter revenue guidance upward
to an increase of 500% over the previous fiscal
year's 2nd quarter. Exceeded previous estimates
with 3rd consecutive month of record revenues.
February 17, 2005: ATSI expands its VoIP network with NexTone
Communications and sets stage for continued
revenue growth.
ATSI Communications, Inc. is an emerging global VoIP carrier serving rapidly expanding markets in Asia, Europe, the Middle East, and Latin America with an emphasis on Mexico. ATSI believes that it has clear advantages over its competition through its strategic partnerships with established foreign carriers and network operators, interconnection and service agreements, and its unique concession license in Mexico. This news release contains forward-looking statements. These statements describe management's beliefs and expectations about the future. We have identified forward-looking statements by using words such as "expect," "believe," and "should." 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. More detailed information about ATSI Communications, Inc. is available in the Company's public filings with the Securities and Exchange Commission.