ERF Wireless Balance Sheet Restructuring Begins - Major Items Completion Expected Before End of September
LEAGUE CITY, TX / ACCESSWIRE / Aug 15, 2014 / ERF Wireless Inc. (OTCQB: ERFB), the operator of the nation's largest terrestrial wireless broadband network servicing the domestic oil and gas sector, today is updating shareholders on the progress being made on the 2014 key company objectives that were originally outlined to the investor community in our press release of January 21, 2014, and summarized below.
-Paying down and eliminating a significant amount of company debt to clean up the balance sheet and to reduce interest and other capital costs as well as to significantly reduce the debt-based growth of the outstanding common stock.
-Continuation of our ongoing program to eliminate unnecessary cost and to improve operational efficiencies.
-Complete the sale of certain of our wireless networks that are non-core to our oil and gas business for additional improvement of our balance sheet, debt repayment, and for expansion of our oil and gas business.
-Possible investment in/from, or partnering with, other innovative technology companies to increase ERF Wireless revenues and cash flow.
-Continue to work toward meeting the requirements for an up-listing to one of the national markets to improve stockholder value.
-Continue to execute operations in all business segments with a plan to achieve cash flow positive and profitable operations in the year 2014.
Dr. H. Dean Cubley commented, “We are continuing to focus significant resources on expanding, both geographically and functionally, our core oil and gas business to ensure we meet our objective of cash flow positive operations and EBITDA profitability in 2014. In addition, we have also significantly advanced, in the first half of 2014, most of our other key company objectives listed above. In particular, the first and third items above were initiated earlier in the year with most major components of these two key company objectives expected to be completed in September, or before, and the accompanying benefits to our shareholders being realized thereafter.”
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 athttp://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.
Contacts:
ERF Wireless Inc.
Clareen O'Quinn
281-538-2101 ext. 113
[email protected]
Financial Relations Firm
Mirador Consulting LLC
561-989-3600
[email protected]
SOURCE: ERF Wireless Inc.