Flint Telecom Group Inc.(FLTT) is a telecoms technology organization. Flint Telecom focuses on the following 2 Business Segments:
Cable & Voice Corporation: Modem, cable and other telecom equipment supplies to leading cable and rural telecom operators in the United States.
Prepaid Telecom Services: The Provision and Distribution of 'Integrated' prepaid calling and cellular products in the United States and Internationally.
FLTT currently has two operating companies, Cable and Voice Corporation, that distributes cables and modem equipment primarily to cable operators and other operators in the U.S., and Flint Prepaid, Inc, that is planned to grow organically in the prepaid telecom services area without the need for additional capital. These businesses are operationally self sufficient on a day-to-day basis and primarily reflect the operating profit of $177,928 reported in the quarter ended March 31, 2012.
Deloitte ranked number 78 FLTT within 500 tech companies
Flint Telecom ranked number 78 on Technology Fast 500TM, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
FLTT~~ Strategic Partners
FLTT SUB COMPANY
Strategic Partners and Product Lines
Cable and Voice Corporation is a leading value-added master distributor of advanced broadband products and services to Cable, Telecommunications, Enterprise, , and Service Provider customers throughout the world.
For over 9 years Cable and Voice Corporation's staff, has provided technical expertise and advise, fast service and competitive prices on quality broadband, VoIP and wireless products. The Company offers a wide range of products and services which includecable modems, cables, UPS units, AV Powerline and Homeplug adapters, Wi-Fi and cellular wireless hardware and software applications, Intelligent Telephone Adapters (ITA) and IP Telephones for VoIP services and other customer premise equipment. Cable and Voice Corporation also offers white label digital voice services to its customer base that are provided by another Flint subsidiary, Digital Phone Solutions, Inc.
The Company's customers include many of the top 10 largest cable operators, as well as regional and local providers. The Company was awarded one of the first Platinum Vendor designations for the National Cable Television Cooperative (NCTC), which gives the Company unique access to more than 1,000 independent cable companies with over 15 million subscribers throughout the United States.
FLTT Annual Revenue 10.7 million dollars as of june 30, 2012
FLTT reported a net profit of $2,036,925 for the three months ended March 31, 2012
FLTT 11 million dollars coming
Flint sold all of the stock of the Targets owned by Flint in exchange for a potential maximum of $11,000,000 in deferred cash payments, to be paid over a period of five years and contingent on future revenues earned by the Targets. The payments shall be made in the form of a revenue share based on actual customer usage and include a minimum total of $2,440,000 in cash, to be paid through minimum monthly payments of $40,000 payable from month 14 to month 29 and minimum monthly payments of $60,000 payable from month 30 to month 60. This total consideration is subject to a number of third party deductions, as follows and in accordance with an escrow agreement by and among Flint and Flint's secured lender, Thermo Credit LLC: $2,000,000 must be used to repay Flint's outstanding secured loan issued from Thermo Credit, LLC; $3,000,000 shall be set aside and paid to Flint's Series H Convertible Preferred Stock Holders in exchange for the return of the Series H Preferred Shares, at the Preferred Holder's option and pursuant to a settlement agreement, and $1,000,000 must be used to repay certain accrued payroll liabilities of the Targets. The foregoing descriptions of the Share Purchase Agreement, the Escrow Agreement and the Settlement Agreement are qualified in their entirety by reference to the full text of the Share Purchase Agreement, the First Amendment to the Share Purchase Agreement, the Escrow Agreement and the Settlement Agreement, which are attached to Flint's Supplemental Information Filing dated March 21, 2012 as Exhibits 2.1, 2.2, 2.3 and 2.4, and are incorporated herein by reference.
The company recorded a gain of $1,103,554 on the disposal of the above companies for the three and nine months
~~~~~~~~~~ FLTT SHARE STRUCTURE ~~~~~~~~~
FLTT share structure as of March 31, 2012
Number of Shares Authorized (A/S) 900 million
Number of Shares Outstanding (O/S) 768 million
Freely Tradable Shares (Float) 766 million
FLTT share structure as of Sept 14, 2012
Number of Shares Authorized 900 million
Number of Shares Outstanding 769 million
Freely Tradable Shares (Float)767 million
SHAREHOLDER NEWS LETTER (June 05, 2012): SHARES WILL NOT INCREASE, NO REVERSE SPLIT
FLTT Transfer Agent ~
Computershare Trust Company Inc.
350 Indiana St.
Golden, CO 80401
Investor Relations Contact ~ Investor Contacts : Flint Telecom Group Inc
FLINT TELECOM SELLS PREPAID DEBIT CARD AND REMITTANCE BUSINESSES TO AUSTRALIAN PARTNER
Mar 21, 2012
Letter to Shareholders - Corporate Update
05th June 2012
Chairman and CEO
The former Head of Procurement with Esat BT in Ireland. In this position, Vincent also managed the Carrier Services division of Ireland's leading competitive carrier with responsibility for the impact of the division on carrier profitability as well as driving retail sales and subscriber acquisition programs. On leaving Esat he founded and managed Prime Carrier in 2000, which has in its short lifetime established itself as the market leader in the supply of advanced least cost routing and switch management systems to the global carrier wholesale markets with over 50 customers in 25 countries. Vincent resigned his executive role with Prime Carrier to found Flint Telecom in 2005.
Bernard A. Fried
President and COO
Mr. Fried has over 30 years of telecom and technology experience. He has applied his business development, operations, and sales skills to consult with Fortune 1000 and international companies in the US, India, the Philippines, and Australia. His clients included such companies as American Electric Power, AT&T, Capital One, Telstra, and Nippon Telephone. During his career, he has held numerous executive positions in the call center, telecommunications, and biometric industries. Since 1975, Mr. Fried has developed and implemented successful sales and marketing strategies and marketing programs for telecommunications companies. He currently serves on the Board of Directors of the United States Internet Industry Association, and is a former Board member of Ascent (merged into Comptel), one of the primary telecommunications industry associations. Throughout his career, Bernie has helped companies introduce programs, products, and services for entering new markets; taught telecommunications and proposal writing courses for corporate and government officials at the State University of New York; and currently teaches management and leadership courses in the School of Professional and Graduate Studies at Baker University in Kansas.
FLTT Daily Chart