Assembling Portfolio of Capabilities and Talent to Support Each Division's Strategy
NEW YORK, NY / ACCESSWIRE / November 4, 2020 / Kenneth Orr, Executive Chairman of TransWorld Holdings Inc (OTC PINK:TRWO), today issued a letter to shareholders offering an update on recent events as the company builds its operating foundation.
Dear Friends and Fellow Shareholders,
I begin this letter to you with pride in, and gratitude for, all of our stakeholders. Looking back over the past five months - a period of profound uncertainty politically, economically and medically - it is remarkable how much we have accomplished. Since the new Board of Directors took a controlling stake in GoIP, a company that had little cash and few business prospects but with a valued base of nearly 6000 shareholders, we have executed on the following:
Garnered institutional direct investments of over $7.5 million
Acquired PTGI-ICS, a TMT company with annual revenues of over $600 million and established cash flow streams, that is expected to be immediately accretive
Signed two definitive acquisition agreements of FedEx routes, also expected to be immediately accretive
Acquired GetCharged, Inc., a privately-held transportation infrastructure company focused on building the largest global network of charging and parking stations for micro-mobility devices, electric scooters and e-bikes, and
Appointed new qualified and reputable executive officers including Andrew Fox, CEO of GetCharged, as President and CEO of TransWorld Holdings and Craig Denson, as CEO of our TMT division and COO of TransWorld Holdings (see bios below)
Began to install public company reporting practices and policies in preparation to uplist to an accredited exchange; and effected our name to TransWorld Holdings
All of these actions are designed to create a portfolio of global businesses, capabilities and talent, focused on connectivity in communications and micro-mobility infrastructure. Given all these actions, I feel compelled to formally introduce you to your new company and discuss with you the vision the Board and I have for the next 12-18 months. Please note that we are fully "charged" to build a global business that all stakeholders will be proud of and prosper from.
Our strategy for the TMT (Telecommunication, Media and Technology) division is to build out both a UCaaS (Unified Communications as a Service) and CpaaS (Communication Platform as a Service) platform, ultimately achieving a full stack communications in both. We have laid the foundation of this strategy with our acquisition of PTGI International Carrier Services, Inc. from ICS Group holdings, a vehicle of HC2 Holdings, Inc. PTGI is a global wholesale telecommunications provider offering both international and U.S. domestic voice termination. PTGI operates its own network that features TDM and dedicated IP point of presence globally in any location.
PTGI also comes to us with a talented team led by Craig Denson, a highly accomplished TMT executive, as well as a solid organizational infrastructure. We intend to use this infrastructure, including sales, accounting, and compliance expertise, to both provide operational support at the TransWorld corporate level, assist our growth and acquisition strategy in the TMT space and enable successful execution in our other businesses. Craig will become COO of TransWorld and lead our TMT division, supporting the tremendous growth we plan to pursue in this and our adjacent businesses. We are continuously exploring investments and M&A opportunities to build out this division's capabilities and addressable market.
We have entered into asset purchase agreements to acquire substantially all of the assets of two privately-held transportation companies that operate FedEx home and ground routes in the NYC area. When these purchases are completed, these routes located in the NY Metro area, will anchor TransWorld's transports unit, providing cash flow, and further establish TransWorld's footprint in today's changing on-demand, gig economy.
We have outsourced the management of our first two acquisitions to a firm with 40 years of experience specializing in route deliveries. TransWorld intends to build out this division by acquiring more FedEx delivery routes, many of which are owned by small independent businesses that maintain contractual relationships with FedEx outlining services provided, maintenance of standards and assigned zip codes and routes.
GetCharged, a transportation pioneer focused on building the largest global network of charging and parking stations for micro-mobility devices, electric scooters and e-bikes under the Charge brand name. With operators in over 150 cities and over 1 million scooters now deployed, growth in micro-mobility is explosive as this movement disrupts transportation in cities that are increasingly focusing on green, socially distanced solutions to traffic congestion. Rapid growth in e-scooters has created challenges, however, and Charge's elegant, patented solutions are designed to benefit cities, scooter operators, riders, and non-riders alike by providing a safe infrastructure that brings order to the chaos of scooters discarded on sidewalks, lowers operational costs for micro-mobility ride-sharing companies, and provides consumers fully charged vehicles.
GetCharged has progressed its footprint expansion in urban centers ripe for micro-mobility. In London, a recently legal e-scooter market, it added a new corporate communications team to press GetCharged's first mover advantage and communicate the tremendous value proposition GetCharged offers. In Liverpool, it recently won an exclusive 12-month trial of our charging stations in conjunction with its partner, Voi, a Swedish scooter maker. GetCharged is aggressively applying lessons learned through its Paris launch to capture other European opportunities.
In the U.S., GetCharged is proceeding with expansion while remaining aware of the greater potential for a second wave and related economic risk that COVID-19 poses here than in Europe, where public health has been made a higher priority. Even given this, in Downtown Los Angeles, GetCharged's SmartHubs are operating well, supporting ridership at an albeit slower pace as the economy recovers from COVID-19 lockdown. And GetCharged is thrilled to have participated in New York's Demo Day on October 6th, where it presented our docking solution. Being invited to take part in this event is an honor, representing an excellent opportunity and a crucial step in the right direction in a city that represents a substantial segment of the overall U.S. market potential.
Andrew Fox, CEO and Co-Founder of GetCharged and pioneer in micromobility, has been named President and CEO of Transworld Holdings, and has my utmost confidence as we drive our combined strategy forward.
The Combined Vision
We are about connecting people, business and goods and services. Our mission, as a holding company, is to build value for our stakeholders in every division. We have and will continue to retain talented people to execute our vision. The TMT Division will become a significant UCaaS and CPaaS company with a comprehensive stack of offerings. The GetCharged division will offer patented and unique last mile micro-mobility infrastructure solutions to metropolises throughout the world. And the Transport Division lends the stability of additional cash flow from the ever-growing instant delivery economy.
From a financial perspective, the company will begin its new life with annual revenues of over $600 million and a well-capitalized balance sheet.
In conclusion, once all complete, these transactions will form TransWorld's forward operating foundation, enabling us to leverage our combined teams' years of experience and interconnecting capabilities to build out all of our businesses. We will keep you up to date on our plans and accomplishments as we move forward in our life as a fully operating public company focused on driving growth and shareholder returns. Again, we thank all of our shareholders for their participation in our vision and their support as we charge forward.
Name Change to Better Reflect our Mission and Mood
Lastly, I wish to inform you that we will be undergoing a new name change to better reflect our mission, vision and overall energy at the company. We will be changing our name to Charge Enterprises Inc. as we help people and businesses connect and "charge" their future forward. From a personal perspective, I am proud of the leadership we have been able to assemble. Teddy Roosevelt once said, "The best executive is one who has sense enough to pick good people to do what he wants done, and self-restraint enough to keep from meddling with them while they do it", and the Board and I agree.
Our entire team wishes you safety and health in these, as the saying goes, interesting times.
Executive Chairman, TransWorld Holdings, Inc. to be renamed Charge Enterprises, Inc.
Andrew Fox, President and CEO, TransWorld Holdings
Globally renowned serial entrepreneur with over two decades of experience in executing disruptive approaches to a wide range of industries including media, transportation, real estate, insurance, and consumer staples. Founded numerous companies with multiple successful exits. Angel investor in over 30 leading startups in healthcare, real estate, infrastructure, and consumer technologies, including All Things Good, ADF, Fundrise, Lime, Nutrafol, Suzy, and Startup Health. Co-Founder of YJP New York, President, Chairscholars, a non-profit focused on helping young adults attend college on scholarship. Named New Yorker of the Week, one of the "30 Most Influential People in Nightlife" and featured in Crain's "40 Under 40," he has also been featured in Forbes, NY Post, and Wall Street Journal.
Craig Denson, Group CEO, PTGI-ICS
Craig is President and CEO of PTGi-ICS and ICS Group Holdings, Inc. Mr. Denson joined the company in 2009 as Vice President, responsible for the Wholesale and Pre-Paid Telecom divisions in North America. In May 2012 Mr. Denson was promoted to President and CEO of PTGi-ICS. Mr. Denson, as the President and CEO of PTGi, took a distressed/discontinued operation to profitability in 18 months and has delivered quarter over quarter positive EBITDA ever since. Prior to joining the company, Mr. Denson was President and COO of Sigma Software Solutions, an OSS and BSS software company providing billing and CRM software to the telecom industry globally. Prior to Sigma Software, Mr. Denson was Vice President and General Manager of ACS Canada, whereby he led the Telecom ASP software services division. Mr. Denson started his career with PepsiCo in 1986, progressing through the organization and ending as National Sales Manager of two operating divisions before entering the telecom industry in 1999. Mr. Denson holds a business degree from Humber College, is a strategic planner and conceptual thinker, excels at bringing clarity to complex issues by creating practical solutions to organizational challenges.
About TransWorld Holdings Inc.
Transworld (to be renamed Charge Enterprises, Inc.) is a portfolio of global businesses, capabilities and talent focused on connectivity in communications and micro-mobility infrastructure. The company is about connecting people, business and goods and services, and its mission is to drive growth and returns, building value for all stakeholders through each of its three divisions: the TMT Division is being designed to become a significant UCaaS and CPaaS company with a comprehensive stack of offerings; the Charge Get Charged Division is capturing explosive growth in last mile micro-mobility by offering patented, unique and problem-solving infrastructure solutions to metropolises throughout the world; and the Transport Division lends the stability of additional cash flow from the ever-growing instant delivery economy. Learn more about us at https://transworldenterprises.com/.
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LHA Investor Relations
Carolyn Capaccio, CFA
SOURCE: TransWorld Holdings Inc.