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Friday, October 09, 2015 3:22:46 PM
Where did this rumor come from?
Right from the CEO of Telecorp ----- Paul Philips in this letter to the shareholders 4 months ago.
I would say all scenarios have come true with this statement
Although it cannot be guaranteed, I still do not intend to perform a reverse split and management has
been working diligently to prevent that from happening. The only case in which a reverse split will be
considered, is in the event that the ask price drops to 0.0001 without signs of a swift recovery.
BARRIE, Ontario, June 18th, 2015 – Paul Phillips, Founder and Chief Executive Officer of Telecorp, Inc.
(OTC Markets: TLNUF) (“Telecorp” or the “Company”), issued a Letter to Shareholders in response to
recent concerns regarding shareholder value and confidence.
In his letter, Mr. Phillips updates investors on the progress associated with the Company's continued
acquisition efforts, re-addresses dilution and split concerns, and discusses more efficient methods of
communication.
The complete content of the letter is as follows:
To the Shareholders of Telecorp Inc.:
Given the outcome of dated and recent events, it is evident to management that our shareholders’
confidence, which once included an abundance of enthusiasm, has been tangled with discouragement. As
such, I would like to invite shareholders back to their previous state of optimism. Because this transition
is easier said than done, please allow me to provide more transparency in regards to our intentions;
accompanied by a better understanding of the success that has taken place as a result of our actions.
First and foremost, I would like to re-address dilution and reverse split concerns. As I stated on April 7th
,
2015, Telecorp obtained financing in the past that provided us an opportunity to make future acquisitions.
Although we were unaware of the financing’s toxic nature, we continue to feel that our decision was
ultimately better than other alternatives, such as allowing Telecorp to remain static. Given the difficulty
of all possible choices, we played the hand that we were dealt to the best of our ability. As a result, our
next destination leads to a healthy amount of revenue in the near future. This will allow us to settle aged
debt and persistently avoid similar issues beyond the horizon. Additionally, the companies that we intend
to acquire can provide a more cost-effective method of developing Telecorp’s software. These benefits
will enable Telecorp to become less dependent on financing and outsourcing, as we progress through the
final stages of software development. In the event that our SaaS is completed, Telecorp would
subsequently find itself facing another occasion to generate larger revenue. Now that new windows of
opportunity have opened, which can allow the company to thrive, I believe that shareholders have much
to look forward to.
In regards to further dilution or excessive selling in the market, I am unable to provide anyone with a
definitive forecast. However, a mutual agreement has concluded, with intentionsto remove debt from an
individual who we believe was the main source of heavy liquidation. With that being said, I would like to
remind everyone that management does not and cannot control what occurs in the market. We have
been working diligently to avoid and eliminate certain factors that jeopardize the future satisfaction of
our shareholders. By mentioning these precautious measures, I am not insinuating that the current market
conditions will improve or that they will not worsen. Rather, I am expressing my best effort to minimize,
what I consider to be, possible threats to the well-being of Telecorp and its shareholders.
Although it cannot be guaranteed, I still do not intend to perform a reverse split and management has
been working diligently to prevent that from happening. The only case in which a reverse split will be
considered, is in the event that the ask price drops to 0.0001 without signs of a swift recovery. Until we
are able to display more value to the investing public through our intended acquisitions, it is
predominantly important for shareholders to begin restoring their confidence in Telecorp’s future and
retain their composure.
We have also received concerns regarding the legitimacy of nearly-acquired, Dev Datamedics, due to their
geographical location. Once more, as stated in the previous press release, I have personally traveled to
Chandigarh, India, in order to conduct a thorough on-site inspection of Dev Datamedics prior to making
the final payments on the acquisition. This will ensure that if and when we move forward with the
acquisition, it will be beneficial for Telecorp.
On another note, if you have recently visited our website or company profile on otcmarkets.com, you will
notice that Vital Media, LLC is now listed as Telecorp’s primary investor relations provider. Please refer all
investment-related questions to the team at Vital Media, as our contract with Heritage Corporate Services
has been dissolved.
As mentioned in mid-March, we are extremely keen on shareholder communication, thus the launch of
our investor center. This has proved to be an effective method for our shareholders and prospective
shareholders to communicate with our investor relations team, perform due diligence and receive our
latest news. It seems that a number of shareholders are still unaware of our investor center, leading me
to believe that many of you are ill-informed, or unaware of where to find updates. I encourage everyone
to take a moment to familiarize yourselves with the investor site, located at www.telecorpir.com. If you
have not signed up to receive our news, updates and announcements, Istrongly suggest thatshareholders
take advantage of this feature, as it will allow you to stay well-informed.
Alternatively, always feel free to contact our investor relations team on social media. I understand that
not everyone uses social media as a means of communication. For those who do, it is an equally efficient
source for finding information and voicing your questions or concerns. If you are unsure of where to find
us, please refer to the following list of our social networks:
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