Contact Information: Contact: Jack Eversull The Eversull Group 972-378-7917 or 972-571-1624 972-378-7981 (fax) E-mail: Web Site: www.atsi.net
Wells Fargo Extends $5 Million Financing for ATSI
| Source: ATSI Communications
SAN ANTONIO, TX--(Marketwire - December 15, 2009) - ATSI Communications, Inc. (OTCBB : ATSX )
today announced that Wells Fargo Business Credit, a division of Wells Fargo
Bank, N.A. (NYSE : WFC ) has extended ATSI's $5 million accounts receivable
financing for an additional term. The renewal of this facility that was
originally approved for $3 million in December 2007 demonstrates ATSI's
positive track record with Wells Fargo.
Brad LeFevre, VP of Wells Fargo Business Credit, stated, "We are pleased to
continue our financing relationship with ATSI. We anticipate our accounts
receivable funding will serve as an important financing tool that will
facilitate the Company's business expansion."
Antonio Estrada, ATSI's Sr. VP of Finance and Corporate Controller, added,
"We appreciate Wells Fargo's continued support of our business plan. The
$5 million facility is a testament to Wells Fargo's confidence in ATSI and
its management team. This financing will allow us the flexibility to
provide improved terms to credit worthy customers and facilitate our cash
management as we seek to grow our business during FY2010."
ATSI Communications, Inc. operates through its wholly owned subsidiary,
Digerati Networks, Inc. Digerati Networks is a premier global VoIP carrier
serving rapidly expanding markets in Asia, Europe, the Middle East, and
Latin America. Through Digerati's partnerships with established foreign
carriers and network operators, interconnection and service agreements, and
a NextPoint powered VoIP network, ATSI believes it has clear advantages
over its competition. ATSI also owns a minority interest of a subsidiary
in Mexico, ATSI Comunicaciones, S.A. de C.V., which operates under a
30-year government issued telecommunications license.
The information in this news release includes certain forward-looking
statements that are based upon management's expectations and assumptions
about certain risks and uncertainties that can affect future events.
Although management believes these assumptions and expectations to be
reasonable on the date of this news release, these risks and uncertainties
may cause actual events to differ material from managements those contained
in this news release. The risks and uncertainties include, but are not
limited to, continuing as a going concern, availability and cost of our
present vendors and suppliers, and absence of any change in government
regulations or other costs associated with data transmission over the
Internet or termination of transmissions in foreign countries.