IRVINE, Calif., Jan. 31, 2007 (PRIME NEWSWIRE) -- "The Treasury Department's announcement that it is conceding the legal dispute over the federal excise tax on long-distance telephone service should provide short and long term benefit to long distance service providers," stated SmallCap Sentinel analyst D.R. Clark. "For companies such as Titan Global Holdings, Inc. (OTCBB:TTGL) this is a huge boon. It's basically 'found money' as the government repays the company for excise payments made over the past three years and it effectively increases Titan's profit margin going forward by about 3% since they don't have to pay excise taxes anymore."
"In fact, Titan recently announced that last week Oblio Telecom Inc., a key subsidiary within Titan's Communications Division, amended its filings with the Internal Revenue Service to include all FET payments it expects to recover, which now are in excess of $3.7 million through fiscal 2006," Clark noted.
The Treasury Department's statement may be seen at the following link:
http://www.ustreas.gov/press/releases/js4287.htm
Titan Global Holdings, Inc., through its subsidiaries, offers a range of communications and connectivity services and products in the United States. It operates in two divisions, Communications, and Electronics and Homeland Security. The Communications division provides international prepaid telecommunications solutions that include prepaid international calling cards, prepaid wireless services, and pinless international dialing services.
For investor information and resources related to Titan, visit http://www.trilogy-capital.com/tcp/titan/.
An informational report titled "Better Mousetrap Files" is available at www.SmallCapSentinel.com and will discuss established and emergent publicly traded stories including Verizon Communications (NYSE:VZ), AT&T INC. (NYSE:T), Sprint Nextel CP (NYSE:S) and Titan Global Holdings, Inc.
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All information contained herein is based upon sources believed to be reliable but no representation is made as to accuracy or completeness. This report is neither a solicitation to buy nor an offer to sell securities but is rather a paid advertisement provided for information purposes only and should not be used as the basis for any investment decision. MP is not an investment advisor and this report is not investment advice. MP has been paid $1500 by Trilogy Capital on behalf of TTGL for preparation and distribution of this report and other advertising services over the next 12 months. Additionally, MP and/or its affiliates, associates and employees from time to time may have either a long or short position in any securities mentioned. This constitutes a conflict of interest as to MP's ability to remain objective in its communication regarding subject companies.