Converge Global, Inc.'s TeleWrx, Inc. Subsidiary Signs Letter of Intent for National and International Telecommunications Services.Business Editors/High-Tech Writers LOS ANGELES--(BUSINESS WIRE)--April 5, 2002 Converge Global, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CVRG CVRG Cardiovascular Research Group ), announced today that its subsidiary, TeleWrx, Inc., has signed a Letter of Intent with a subsidiary of Covista Communications, Inc. (Nasdaq:CVST CVST Chinese Visiting Scholars in Toronto (Canada) ) that is contemplated to provide TeleWrx with a broad range of telecommunications services for the domestic and international markets. Covista is an inter-exchange carrier (communications) inter-exchange carrier - (IXC) A company allowed to handle long-distance calls following the break-up of the Bell system in the US by anti-trust regulators. which offers wholesale and retail telecommunications services. Through its Capsule Communications, Inc. business unit, Covista plans to provision TeleWrx's customers with high-quality telecommunications services that include interstate, intrastate and international calling, as well as calling cards. TeleWrx specializes in the sales and marketing of telecommunications products and services through the utilization of its international network marketing organization. Donald A. Smiley, Chairman of Converge and TeleWrx, stated: "We are pleased to have this new relationship with one of the top wholesale and retail providers of high-quality telecommunications services. These services will assist us in meeting our goals for a rapid roll-out of our products to our network marketing organization. A key factor for our decision to work with Covista is its focus on providing the highest level of customer care and back-end agent support. This support will allow our agents to better manage their customer acquisitions and build a more profitable home-based business. The key elements in adding new customers and maintaining their loyalty are to provide quality services at competitive prices and back it with unmatched customer care. Our goal is to deliver on our promise to provide "Communications that Work for You." David Hurwitz David Hurwitz is a classical music writer, record reviewer, and percussionist. He has written reviews for High Fidelity, Fanfare, the website Classics Today (as founder and Executive Editor), and Amazon.com. , President of Covista's Capsule business unit, stated: "The new relationship with TeleWrx, Inc. presents an exciting opportunity to expand Covista's business. We look forward to assisting the TeleWrx organization in delivering top-quality service to its customers and supporting its network marketers in achieving their goals of successful home-based businesses." TeleWrx utilizes products that are competitively positioned in the marketplace and combines them with its competitive advantage of "Friend to Friend" selling. The Company's products and sales force, along with its straightforward sales approach, will position TeleWrx to quickly acquire market share and reach critical mass. The Company's home-based agents will approach the residential and small-business markets with the most cost-effective, most technologically advanced, and highest-quality telecommunications services available today. TeleWrx will offer residential and small business long-distance, Wireless long-distance, Internet dialup (56K), calling cards, toll-free service, wireless services, including WAP (1) (Wireless Access Point) See access point. (2) (Wireless Application Protocol) A standard for providing cellular phones, pagers and other handheld devices with secure access to e-mail and text-based Web pages. (wireless application protocol) devices, and enhanced services such as "follow me" and nationwide "one number" services. In the current economic environment, home-based businesses have enjoyed explosive growth, and experts predict that this growth will be fueled by the expanding markets and new technology in the telecommunications industry. Covista is a facilities-based long distance telecommunications, Internet and data services provider with a substantial customer base in the commercial, wholesale and residential market segments. Its products and services include a broad range of voice, data and Internet solutions, including long distance and toll-free services, calling card, frame relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. , Internet access See how to access the Internet. , VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. , directory assistance and teleconferencing services. The wholesale division provides domestic and international termination services to carriers worldwide at competitive rates. Covista currently owns and operates switches in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Newark, New Jersey, Philadelphia and Dallas, and previously has announced plans to expand to additional switch sites in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Chicago and Chattanooga, Tennessee “Chattanooga” redirects here. For other uses, see Chattanooga (disambiguation). Chattanooga is the fourth-largest city in Tennessee (after Memphis, Nashville, and Knoxville), and the seat of Hamilton CountyGR6 . Covista operates Network Operations, call center and information technology facilities in Chattanooga to monitor its switched network and to coordinate its various services. For more information, please visit the Company's website at www.covista.com Contact Mr. Richard Kaiser at Yes International for Investor Relations Investor relations The process by which the corporation communicates with its investors. at 800/631-8127 or by E-mail at CVRGpresident@aol.com The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. Actual results of the company's operations generally may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the company's dependence on third parties, general market and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. |
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