I am pretty sure this is the debt they have.
Xfone has continued to make progress on construction of its PRIDE Network, a project almost entirely financed by $99.9 million in funds from the Federal Broadband Stimulus Program, of which 45.9% is in the form of grants and 54.1% is in the form of low cost long-term loan
This was from their last Q
PRIDE Network, Inc., a wholly owned subsidiary of NTS Communications, Inc., has received approval from the Broadband Initiative Program of the American Recovery and Reinvestment Act, for a total $99.9 million funding in form of $45.9 million in grants and $54 million in 19 to 20-year loans. The loans bear interest at the Treasury rate for comparable loans with comparable maturities. The funding will allow the Company to develop its FTTP infrastructure, known as the PRIDE Network in northwestern Texas and further expand it to communities in southern Louisiana. Construction work of PRIDE Network's FTTP infrastructure started in October 2010.
The total aggregate amount of these loans and grants as of September 30, 2011 that has been utilized were $10,491,182 and $7,331,687, respectively. The loans are to be repaid in monthly installments until 2029. The loans are non-recourse to NTS and all other NTS subsidiaries and are secured by PRIDE Network's assets which were $11.8 million at September 30, 2011. As of September 30, 2011, the current average weighted interest rate on the outstanding advances was 4.02%.
So from the looks of it they have PLENTY of time to repay these loans and in the mean time they are using this cash to build out their pride network. As revenues continue to grow they will be able to probably pay these off faster. I mean remember their revenues are blowing up with 7K customers with plans to have 50K when its done. So what will revenue look like with even an additional 5-8K added. This one is set up for growth. Good luck with what ever you choose to do. I myself feel this one is cheap here.
