Interlink Global Corp. Completes Purchase of Fully Licensed Venezuelan Telecom and Data Service Provider as Major Addition to Its Latin American Strategy.
Interlink Global Corp. (OTC:ILKG) today announced that it has acquired NGTV SA and Communications Network Holdings Ltd. ("NGTV"), one of the largest privately owned fully licensed telecom network companies operating in Venezuela.
NGTV, which has an eleven year Venezuelan Telecom and Data Service Provider operating history, is a provider of long distance and Internet services in Venezuela and has interconnection agreements with 30 national and international carriers. The company, based in Caracas, Venezuela, has 43 employees nationally, most of whom will remain with NGTV after the acquisition. NGTV has developed alliances with national and international data carriers that permit the exchange of services through the use of national broadband and last mile connections in the cities where the network has coverage. NGTV has nodes in its offices of Veninfotel serving Caracas, Valencia and Maracaibo; AES Corporation and Global Crossing serving Caracas; Procedatos and Infonet serving the city of Maracaibo and the Occidental region; and Digitel for the central region and Satelca for the Oriental region. The Company also has direct connections through TDM Voice E1 to Los Angeles and New York.
NGTV presently has over 500 corporate clients in Venezuela for the different products and services it offers. All national and international carriers established in Venezuela use NGTV's transmission services for its high reliability and competitive prices. The Company generated approximately 79,958,384 minutes of customer traffic in 2005, with total revenues of $7,191,308 with an EBITDA of $1,084,434. The Company, based upon current operations, is projecting increasing traffic to 112,111,600 minutes in 2006, with gross revenues of $10,576,720 and an EBITDA of $1,927,576. These traffic and revenue forecasts do not include additional minutes and revenues that Interlink will be bringing to the system through its existing traffic in Latin America. The management of Interlink will be releasing shortly its development plan for this acquisition and its revenue guidance for NGTV as it integrates the company into its existing Latin American operations.
Now that the acquisition is completed, Interlink will book additional gross assets of approximately $9,000,000 and net assets in excess of $6.5 million.
According to Anastasios Kyriakides, Chairman, "This acquisition is the culmination of months of efforts by our staff. One of our primary objectives in 2006 was to acquire an expanded infrastructure in Latin America compatible with our infrastructure in Miami. The NGTV acquisition accomplishes this goal. After the acquisition is completed next week, we will be providing a complete analysis of the integration of NGTV into our Latin American operations, and revised guidance for our operational results in 2006. We are very comfortable that this revised guidance will justify the conclusions reached in a research report recently sent out by Research Works on our operations." Kyriakides further explained, "Research Works, Inc. has released an analyst research report covering the Company with an initial price target of $6.00. The report is now available for review at http://www.stocksontheweb.com/ILKG.pdf ."
Research Works is an equity research boutique founded in 1992 that focuses on small-cap, microcap and penny stocks. The Research Works' stated objective is to discover undervalued small companies and help them achieve fair value for their stocks by producing high-quality, paid research reports that are grounded in fundamental analysis and employ state-of-the-art equity valuation models. The Research Works targets a far-reaching network of sophisticated, self-directed investors and distributes its research through a strong Internet presence and a large direct-distribution list. "We believe that the Research Works report clearly shows that our stock is grossly undervalued at the present price. We expect this report will bring attention to the Company and our business plan to become a major player in the international VoIP marketplace," added Mr. Kyriakides.
About Interlink Global
Interlink Global (OTC:ILKG), founded in 2002, provides telecommunication solutions around the world. As a leader in hosted VoIP telephony services, Interlink Global is currently doing business in North America, South America, Asia, and, soon in the Middle East. Interlink Global provides SIP-based broadband telephony solutions, WiFi, WiMax, Marine Satellite Services, calling cards, and other enterprise services internationally. Interlink Global, using VoIP technology, provides long distance telephone services, with full features, at prices that are greatly reduced in comparison with traditional telephone companies. For more information about Interlink Global's products and services, please visit: http://www.b2i.us/irpass.asp?BzID=1287&Nav=1&S=0&L=1.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes", "looking ahead", "anticipates", "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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|Date:||Mar 16, 2006|
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