Key Developments: Elephant Talk Communications Corp (ETAK.A)

ETAK.A on American Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Elephant Talk Communications Corp. signs agreement to collaborate on global sales with HP
Thursday, 31 Jul 2014 09:17am EDT 

Elephant Talk Communications Corp:Announced that the company and HP signed an agreement to collaborate on global, mutual sales.With this agreement, the companies extend their relationship to deliver services from the Elephant Talk Software DNA virtualized platform and the HP Integrated Home Subscriber Server.  Full Article

Elephant Talk Communications Corp receives $10 million service prepayment as part of new five year contract with existing MNO Client in Europe
Friday, 13 Dec 2013 08:03am EST 

Elephant Talk Communications Corp:Signs a five year extension with an existing Mobile Network Operator (MNO) in Europe.Says under the financial terms of this new contract, it expects that hosting fees will increase about 13%, on average, per SIM per month, in exchange for improved service levels.Says it will receive continuous prepayments of about $10 mln for the duration of the contract.  Full Article

Elephant Talk Communications Corp Issues Q3 2013 Revenue Guidance Below Analysts' Estimates
Monday, 4 Nov 2013 08:45am EST 

Elephant Talk Communications Corp announced that for the third quarter of 2013, it expects to record revenue of $5.2 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $7.0 million for the third quarter of 2013.  Full Article

Elephant Talk Communications Corp Completes $12.0 Million Registered Direct Offering
Monday, 17 Jun 2013 08:39am EDT 

Elephant Talk Communications Corp. announced that it has completed a registered direct public offering of an aggregate of $12.0 million, led by a $4.5 million investment from Elephant Talk CEO Steven van der Velden (the Affiliated Investor), and a $5.0 million investment from Crede CG III. Ltd., a wholly-owned subsidiary of Crede Capital Group, llc., and investors placed by Dawson James Securities, Inc. to purchase an additional $2.5 million. Elephant Talk sold an aggregate of 17,425,638 shares (the Shares) of the Company's common stock, par value $.00001 per share (the Common Stock), and warrants (the Warrants) to purchase up to an aggregate of 7,841,537 shares of Common Stock (the "Warrant Shares"). The Shares are being sold at a price of $0.682 per share to non-affiliate investors and at a price of $0.70 per share to the Affiliated Investor. The Warrants have an initial exercise price of $0.887 per Warrant Share for both the Affiliated Investor and the non-affiliate investors. The Company will use a portion of the net proceeds from this offering to pay all outstanding obligations of approximately $6.7 million pursuant to certain Purchase Agreements with the holders of certain senior secured convertible notes the Company issued on March 29, 2012. The Company will use the remaining net proceeds for working capital and other general corporate purposes.  Full Article

Wohl & Fruchter LLP Announces Investigation of Elephant Talk Communications Corp
Thursday, 6 Jun 2013 10:00am EDT 

The law firm of Wohl & Fruchter LLP announced that it is investigating possible violations of federal securities laws by officers and directors of Elephant Talk Communications Corp (ETAK). On May 23, 2013, ETAK announced that it had received a delisting notice from the New York Stock Exchange (NYSE) indicating that ETAK does not satisfy the continued listing standards of the NYSE insofar as the Company`s sustained losses and financial condition have led the NYSE to question whether the Company can continue operations and/or meet its obligations as they mature. In order to maintain its NYSE listing, the Company was directed to submit a specific plan of compliance (Plan) by May 31, 2013, addressing how it intends to regain compliance by June 30, 2013. As of the close of trading on June 5, 2013, the Company had not yet announced the filing of a Plan with the NYSE.  Full Article

Elephant Talk Communications Corp Signs Software Defined Network Contract With Mobile Operator In Latin American Market
Thursday, 17 Jan 2013 09:00am EST 

Elephant Talk Communications Corp announced that it has signed a contract to implement the Company's Software Defined Network (SDN) platform for an established mobile operator in a Latin America market. The mobile outsourcing platform will have a capacity for 10 million SIMs. The Company expects the initial migration of approximately one million existing Latin American mobile subscribers to Elephant Talk's SDN platform to begin in mid-2013. The migration is expected to take several months.  Full Article

Elephant Talk Communications Corp To Acquire Assets Of U.S. Based Telnicity LLC
Wednesday, 9 Jan 2013 09:00am EST 

Elephant Talk Communications Corp announced plans to acquire 100% of the assets of Telnicity LLC, a U.S. enabler company headquartered in Oklahoma City, Oklahoma in an all-equity transaction. According to the acquisition agreement between Elephant Talk and Telnicity, which is subject to certain closing conditions and based on the closing price of Elephant Talk stock on January 8, 2013, the transaction value is approximately $1 million, with Elephant Talk issuing 1 million shares of common stock at closing. The shares will be subject to a lock-up agreement restricting sale or disposition of the shares for 18 months. The terms of the acquisition agreement also provides for a bonus arrangement applicable when revenue minus cost of sales is in excess of $1.00 per customer per month and payable once the cash flow from the Telnicity business is sufficient to cover the payments. The transaction is expected to close on or before March 8, 2013. According to the terms of the acquisition agreement, Elephant Talk will acquire all of the assets of Telnicity, LLC, a U.S. MVNE/MVNO enabler company including the Company's existing customer contracts, carrier agreements, and access to telSPACE and mCASH, Telnicity's propriety turnkey back office infrastructure and billing systems. Telnicity's 6 full-time equivalent employees will remain in their current positions.  Full Article

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