Etelix USA.com: The Company finalized the acquisition of Miami-based Etelix USA.com back in April 2017. However, the company had been working on the acquisition since Q4 of 2016 and provided 3rd party debt financing to fuel growth starting Q1 of 2017. This financing has allowed Etelix to increase revenue year-over-year by approximately 100% from approximately $4.3M in 2016 to an expected $7.5M in 2017, while also raising EBITDA level from $130,000 in 2016 to an expected $300,000 approximately for 2017. Our expectation is for this growth to continue well through the year, and into 2018 as well. Our business plan for Etelix is to continue to grow their carrier-grade wholesale VoIP services, but also to start focusing more resources on their facility-based data center business. Currently, Etelix is working hand-by-hand with Metrospaces in finding locations and financing to build ground up data centers in secondary markets such as Austin, TX and Atlanta, GA. Our expectation is to find a site by Q1 of 2018, with the expectation of starting construction by 2Q of 2018. Etelix currently has world-class telcos as clients that have expressed considerable interest in setting up long-term agreements for VoIP-based data center services that would provide upstanding revenue-generating contracts before even breaking ground on these data center constructions. We think Etelix will continue to grow considerably in the coming quarters, while increasing shareholder value. Although it is markets that value companies, we think the market has not yet valued our acquisition in Etelix properly, as most like-carriers are valued in the .8-1.2X revenue for EBITDA positive telco carriers.
