whats left to do here come on its in black and white .....
ERF Wireless Balance Sheet Restructuring Begins---Major Items Completion Expected Before End of September
LEAGUE CITY, TX -- ERF Wireless Inc. (OTCQB: ERFB), the operator of the nation's largest terrestrial wireless broadband network servicing the domestic oil and gas sector, today is updating shareholders on the progress being made on the 2014 key company objectives that were originally outlined to the investor community in our press release of January 21, 2014, and summarized below.
-Paying down and eliminating a significant amount of company debt to clean up the balance sheet and to reduce interest and other capital costs as well as to significantly reduce the debt-based growth of the outstanding common stock.
-Continuation of our ongoing program to eliminate unnecessary cost and to improve operational efficiencies.
-Complete the sale of certain of our wireless networks that are non-core to our oil and gas business for additional improvement of our balance sheet, debt repayment, and for expansion of our oil and gas business.
-Possible investment in/from, or partnering with, other innovative technology companies to increase ERF Wireless revenues and cash flow.
-Continue to work toward meeting the requirements for an up-listing to one of the national markets to improve stockholder value.
-Continue to execute operations in all business segments with a plan to achieve cash flow positive and profitable operations in the year 2014.
Dr. H. Dean Cubley commented, We are continuing to focus significant resources on expanding, both geographically and functionally, our core oil and gas business to ensure we meet our objective of cash flow positive operations and EBITDA profitability in 2014. In addition, we have also significantly advanced, in the first half of 2014, most of our other key company objectives listed above. In particular, the first and third items above were initiated earlier in the year with most major components of these two key company objectives expected to be completed in September, or before, and the accompanying benefits to our shareholders being realized thereafter.
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