ATLANTA, Oct. 28, 2008 (GLOBE NEWSWIRE) -- Flint Telecom Group, Inc. (OTCBB:FLTT), a fast growing, technology and services company that enables "turnkey" telecom and technology solutions to customers through its Partner channels, today announced that following the business combination of Flint Telecom and Semotus Solutions announced earlier this month, it has now completed the integration of the organizations and has streamlined operations to maximize operational efficiency and reduce costs, in order to achieve the financial milestone of near term profitability.
Flint continues to roll out its business model of enabling telecommunication and technology solutions for its partners, offering software solutions and increasing revenue on its Global - IP based network. Flint Management moved quickly following the business combination to react to market conditions and reduce costs across the board to achieve savings and drive the Company to profitability. This cost reduction will not impact the Company's significant revenue growth plans. The Company is also considering a number of potential acquisition opportunities that present excellent value opportunities and plans to develop the business through intrinsic growth and via targeted acquisitions that can be integrated efficiently.
Flint Telecom provides an outsourced -- full service, full feature -- telecom solution based on leading telecom VoIP technology, that is delivered through a number of Partners as their own service offering. This "own brand" white label telecom service offering enables Independent ISPs, Cable Companies, Rural Telcos, PBX vendors and other niche service providers the ability to offer additional services without having to build or manage them themselves. Flint Telecom delivers all the value added services that manage the entire value chain for the Partner including billing, customer care, call routing, service provisioning, and marketing support.
The Partners' customers avail themselves of the latest VoIP telephony services allowing them to experience the very same telecom service as provided by the traditional phone companies, they use the same phones and experience the same quality, the only difference is a dramatic cost savings. VoIP uses the internet to allow voice calls to travel as data over an existing Internet service, instead of using the traditional phone lines owned by the telecom companies.
The Group also provides software solutions for the mobile enterprise and government, connecting people to critical business systems, information and processes. Flint has a Fortune 1000 customer base including Lockheed Martin, Blue Cross Blue Shield, Coca-Cola, Hewlett Packard, Nextel Communications, JP Morgan Chase and The United Nations. The Company's software solutions provide mobility, convenience, efficiency and profitability in the areas of workforce automation, finance, health care and m-commerce.
"I am pleased that the integration of Flint Telecom Inc. and Semotus Solutions has been completed as planned. This activity along, with the completion of the rollout of the next generation Flint network means that we can maximize the operation of the organization to deliver telecom and technology solutions through our partners in the most efficient manner possible. This will result in us being able to achieve near-term profitability, delivering on the stated financial metrics and milestones communicated to date. This is an exciting period for Flint Telecom Group Inc. as we continue to execute on the Company Vision and Mission in continuing to build a telecom and technology solutions company delivering tangible savings to customers through our partner channels," stated Vincent Browne, Chief Executive Officer and Founder, Flint Telecom Group.
"The technology pedigree at Semotus Solutions creates opportunities to deliver new products and services for the combined Group that will be layered onto the Flint infrastructure and sold through existing partner channels. We are evaluating a number of new products and ideas and we are excited about the integration with the Flint team and the market opportunities that we plan to pursue," stated Tony LaPine, Chairman of the Flint Telecom Group.
About Flint Telecom
Flint Telecom, founded in 2005, is a fast growing technology and services company that provides "turnkey" telecom services to the global telecom and media industry. Flint generates its income by licensing its innovative technology to niche partner companies who themselves then provide next-generation telecom services to their customers in both residential and business markets. Flint partners with organizations such as ISPs, Rural Telecoms and Cable Companies, PBX system vendors and other niche telecom operators that benefit from offering additional telecom services to their existing customers. Flint enables its partners to quickly establish a reliable, feature rich and cost effective phone service for zero capital investment on behalf of the partner. For more information, please visit Flint's website at www.flinttelecom.com
This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects", "intends", "believes", and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.