ERF Wireless Announces Aggressive 2014 Plans for Growth
April 23, 2014 --
LEAGUE CITY, TX -- (Marketwired) -- 04/23/14 -- ERF Wireless (OTCQB: ERFB), a leading provider of enterprise-class wireless and broadband products and services, announced today its 2014-2015 plans and model for ERF Wireless' continued growth and profitability. It is management's goal to build shareholder value through: (1) certain divestitures of non-core business units and corresponding use of proceeds for debt reduction and consolidation, (2) internal growth of its core Energy Broadband and Enterprise Networks business units, (3) an aggressive acquisition strategy of certain profitable competitors and complementary businesses, and (4) a focused approach to expansion and operating capital acquisition in conjunction with a national market listing.
In 2013 the company absorbed all the economic downturns within its industry as well the expenses of a lengthy and distracting arbitration that has since concluded. As a result of these events, the company currently carries debt that impacts its cash flow, profit margins and capital structure in a manner that masks the true reflection of the growth and expansion taking place both within the company and the industry. Management has therefore been aggressively putting together the pieces necessary to eliminate its current toxic convertible debt and the negative effect it is having on profitably, the value of the company's common stock in the marketplace, and the company's capital structure. The company will be releasing more information on this effort as it progresses over the next several weeks.
In addition to debt reduction plans, management has been active over the last several months positioning the company to capitalize on the renewed exponential growth taking place in the wireless broadband oil and gas sector. The application of new technologies and discoveries taking place in this sector has created increased demand for wireless broadband access and services. This positioning has already put ERF Wireless at the forefront of this demand resulting in significant opportunities for internal revenue that have already begun with the current addition of multiple new customers and other growth under new contracts already beginning with the 2nd quarter of 2014. To complement this internal growth and further capitalize on the expansion within the wireless broadband industry, ERF Wireless has also begun an aggressive acquisition strategy in the 2nd quarter of 2014. To date, management has identified multiple qualified acquisition candidates that would not only add revenues and accretive positive cash flow to the company but would also expand its footprint within the industry substantially. Further details and information on these endeavors will be forthcoming as contracts and agreements materialize.
Dr. H. Dean Cubley, CEO of ERF Wireless, stated, "I fully realize that the past several years, with the distraction of our arbitration proceedings, have not been what I or our stockholders would have expected. However, that period of the company history is firmly behind us and ERF Wireless is now clearly focused on moving forward and taking advantage of the many opportunities being presented to the company by our customers and the industry in general."
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Wireless Bundled Services, ERF Wireless Messaging Services and ERF Network Operations. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com and http://www.energybroadband.com or call 281-538-2101. (ERFBG)
Disclaimer: Forward Looking Statements
The information in this release may contain forward-looking statements relating to anticipated or expected events, activities, trends or results. Forward-looking statements can be identified by the use of forward looking terminology such as "believes," "suggests," "expects," "may," "goal," "estimates," "should," "likelihood," "plans," "targets," "intends," "could," or "anticipates," or the negatives thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Forward-looking statements in this release include, without limitation, the Company's expectations of continued expansion into oil and gas markets and of our terrestrial broadband networks, along with other performance results. These statements are made to provide the public with management's current assessment of our business, and it should not be assumed that that the forward looking statements will prove to be correct. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this release are only as of the date hereof, and we expressly disclaim any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in management's expectations or any change in events, conditions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in this release. Please carefully review our filings with the Securities and Exchange Commission as we have identified many risk factors that impact our business plan
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