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8-K - Digerati Technologies, Inc. | v206524_8k.htm |
Exhibit
99.1
NEWS
RELEASE
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Contact:
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Jack
Eversull
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The
Eversull Group
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972-571-1624
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214-469-2361
(fax)
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E-mail:
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jack@theeversullgroup.com
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Web
Site:
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www.atsi.net
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Corporate Rebranding Approved by ATSI
Board of Directors
San Antonio, Texas – December 21, 2010 – ATSI
Communications, Inc. (OTCBB:ATSX) (OTCQB:ATSX) today announced that its Board of
Directors approved the Company's rebranding initiative and corporate name change
to Digerati Technologies, Inc. The Company will solicit consents from
its shareholders to approve an amendment of its Articles of Incorporation to
reflect the new name. The Company has set January 17, 2011 as the
record date for determination of the shareholders entitled to give consent to
the name change. Upon approval by the shareholders, the Company will
proceed with changing its stock symbol.
After
approval, the parent company will conduct business as Digerati, a brand
associated with a majority of the Company's revenue sold through the Company's
wholly-owned subsidiary, Digerati Networks, Inc. Aligning the
corporate name with its primary brand is expected to increase the Company's
visibility with its customers, heighten exposure for its accomplishments in the
marketplace, and allow for greater positioning within the
industry. The Company has also formed a subsidiary named
Digerati Broadband, Inc. to pursue broadband opportunities in strategic
markets.
Arthur L.
Smith, President and CEO, commented, "Our corporate name change and re-branding
will reflect the recent diversification of our business. Our products, including
our global transport services, are now delivered only in the cloud or over the
Internet as we continue to invest resources in our cloud-based VoIP services.
This re-branding strategy will encompass both investor and public
relations initiatives and is intended to align us more appropriately with the
cloud-based services industry, an industry sector that is
experiencing dramatic growth."
ATSI
Communications, Inc., through its wholly owned subsidiary, Digerati Networks,
Inc., has emerged as a premier provider of global cloud-based VoIP services
serving rapidly expanding markets in Asia, Europe, the Middle East, and Latin
America. Over the course of a decade, Digerati has established over
200 global partnerships with foreign carriers and emerging operators in more
than 50 countries. In Mexico, the Company's minority-owned subsidiary
operates under a 30-year government issued telecommunications
license. In addition to global cloud-based VoIP transport,
Digerati provides enhanced VoIP applications including a fully hosted IP/PBX
service, SIP trunking, and customized VoIP solutions for specialized
applications. The
Company's customer base includes traditional telecommunication carriers, mobile
operators, VoIP service providers, calling card companies, Internet service
providers, and data service integrators.
Nothing
in this press release is a solicitation of consents. The Company will
distribute a proxy statement relating to the adoption of its new
name. Shareholders should read the Company’s proxy statement when it
becomes available as it will include important information. A copy of
the Company’s proxy statement, when filed, can be obtained at the Commission’s
website or by contacting the Company.
The
information in this news release includes certain forward-looking statements
that are based upon management’s expectations and assumptions about certain
risks and uncertainties that can affect future events. Although
management believes these assumptions and expectations to be reasonable on the
date of this news release, these risks and uncertainties may cause actual events
to differ from those contained in this news release. The risks and
uncertainties include, but are not limited to, continuing as a going concern,
availability and cost of our present vendors and suppliers, and absence of any
change in government regulations or other costs associated with data
transmission over the Internet or termination of transmissions in foreign
countries.