Textmunication Provides Shareholder Update
Globe Newswire
October 02, 2017 8:10am
PLEASANT HILL, Oct. 02, 2017 (GLOBE NEWSWIRE) -- Textmunication Holdings, Inc. (TXHD.OB), a cloud-based mobile SMS marketing platform provider, has made several strategic moves delivering on its 2017 blueprint. Textmunication had four key objectives in 2017:
Reduce or eliminate historical debt
Increase revenues
Develop a new SMS software platform
Enhance and develop partnerships
Textmunication just issued an 8-K detailing an approved court order allowing Livingston Asset Management ("LAM") to recover past-due obligations which LAM had purchased from certain vendors. Textmunication is also working with an investment group to take out a note due on November 11, 2017 through an equity stake in the company verses convertible financing. Updates will be provided through filings if this is accomplished. Several convertible notes were settled in 2017 for fixed shares allowing clarity for future funding. Textmunication's debt reduction and revenue improvements in 2017 have put the company in a stronger position to negotiate future equity financing.
The company has increased revenues through new strategic partnerships and clients. Revenue increases of 259% in Q1 and 298% in Q2 were posted in 2017. With the addition of the GEN3 software platform, additional revenue clients are now coming on board. Textmunication is in talks for a large-scale SMS platform partnership connecting the entertainment industry to SMS notifications for royalty payments. This potential partnership could open new markets for SMS and long-term investment in Textmunication.
Aspire Consulting Group ("Aspire"), our sister-company, has secured three large IDIQ contracts in 2017 and has three more pending in Q4. Aspire offers long-term revenue opportunities in the government contracting sector. Aspire is working with key Primes for both federal and state IT Services contracts. These contracts are with some of the nation's mission critical programs such as Centers for Medicare and Medicaid Services (CMS), Social Security Administration (SSA) and U.S. Department of Veterans Affairs (VA).
Textmunication has a solid pipeline of API clients being developed for the GEN3 SMS platform. The new platform will handle the increased SMS business and add new functionality such as "intelligent data" connecting clients, consumers and advertisers. Migration of clients began in June and full migration is expected by late Q4. The new GEN3 platform can send more than 1 billion SMS per month and will offer new engagement, retention and loyalty functionality to health clubs, salons and new verticals starting Q4 and throughout 2018.
"Textmunication laid out an aggressive plan in 2017 to address debt, revenue, infrastructure and partnerships. As we enter Q4 and 2018, the moves we made this year will pay big dividends for the future of our company and our shareholders", stated CEO Wais Asefi. "By addressing our objectives and focusing on revenue growth, we have new exciting opportunities from potential equity investors and partnerships we wouldn't have had without addressing our prior debt
