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Thread: Flint Telecom Group, Inc.

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    AverySligo Guest

    Default Flint Telecom Group, Inc.

    Flint Telecom Group Inc. ("FLTT") is a U.S. holding company headquartered in Overland Park, Kansas. Through its subsidiaries, the Company provides an extensive portfolio of next generation IP communication solutions. The Company was founded by telecom and technology entrepreneurs with a proven track record in building global technology companies. Flint Telecom has grown both organically and through corporate activity and is traded on the OTC Bulletin Board® (OTCBB) under the ticker FLTT.OB. Additional information may be found at www.flinttelecomgroup.com

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    OVERLAND PARK, KS--(Marketwire - 11/30/10) - Flint Telecom Group, Inc. (http://www.flinttelecomgroup.com) (OTC.BB:FLTT - News), an International Telecoms Technology and Services Organization, today announces completion of a $15 million investment agreement with New York-based Kodiak Capital Group LLC, whereby Kodiak has committed to purchase, at the discretion of the Company, from time to time over a period of two years, shares of the Company's common stock for cash consideration of up to $15 million at a fixed flat discount of 5% from the lowest closing best bid share price following the Company's draw notices.
    This equity line of credit to be provided by Kodiak Capital Group will replace the previous Reserve Equity Finance Agreement with AGS Capital Group, announced in June.
    The Equity Line of Credit is a cost effective and flexible financing that places Flint Telecom in control of how and when it raises equity and debt, minimizing any potential dilution or disruption to its capital structure. Flint Telecom can sell its common shares when the price is attractive to the Company to ensure that the Company has access to required funds in a timely manner to minimize dilution to shareholders. The Agreement does not prohibit the Company from raising additional debt or equity financings, other than financings similar to this agreement.
    In order to draw funds under the Agreement, Flint must first file a registration statement on a Form S-1 with the SEC. Once the SEC deems the registration statement effective, the Company can commence to draw funds.
    Full details of the Agreement are disclosed in the Company's SEC Form 8-K filed with the SEC today.
    Ryan Hodson, Managing Director at Kodiak Capital Group added, "We are very excited to partner with Flint Telecom and for the potential in the future. We believe in the management and their vision for the business and we applaud their success this year in turning the business around in the most challenging economic climate for nearly a century, positioning the business in high growth markets and hot areas and generating a strong shareholder following that, combined, create a real springboard for success moving forward. We are very proud to be associated with Flint as we provide the necessary funding and support required to accelerate their growth and success."
    Vincent Browne, Chairman and CEO of Flint Telecom Group commented, "This is a hugely significant transaction for us at this time and it clearly reflects the progress we have made over the last few months. This will allow us to raise the growth capital we need in a more structured environment with a significantly reduced cost compared to our current sources. Obviously we had to carefully consider changing our funding partner at this stage, but this offer from Kodiak could not be ignored as we believe it is clearly better for our shareholders, and with fewer restrictions than before, better suits the way our stock currently trades to enable us to maximize the amount we can raise with the least impact on our stock. We have known Kodiak for some time and they are not just providing funds, but have taken a very active interest in all aspects of our business and how they can help to grow it. We very much look forward to working in close partnership with them to create a truly great company that will generate the commensurate return for our loyal shareholders over time."
    About Flint Telecom Group, Inc.
    Flint Telecom Group Inc. is a fast growing Telecoms Technology Organization with a portfolio of companies that deliver next-generation IP communications Products and Services. The Company was founded by telecom and technology entrepreneurs with a proven track record in building global technology companies. Flint Telecom has grown both organically and through corporate activity and is traded on the OTC Bulletin Board® (OTCBB) under the ticker FLTT.OB. Additional information may be found at www.flinttelecomgroup.com.

    About Kodiak Capital Group, LLC
    Kodiak Capital Group, LLC is engaged in assisting growth companies in all facets of their long-term strategy by providing capital and progressive business solutions. Kodiak manages a portfolio of investments in public and private equities. Founded in 2009, Kodiak has transacted in excess of $500 million in financing for companies across a multitude of industries, including biotechnology, business services, consumer products, defense, healthcare, Internet, manufacturing, medical devices, natural resources, oil and gas, renewable energy and wireless communications. Headquartered in New York City, Kodiak has assisted companies throughout North America, China and Australia. Additional information can be found at www.kodiak-capital.com.
    This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

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    OVERLAND PARK, KS--(Marketwire - 12/06/10) - Flint Telecom Group, Inc. (http://www.flinttelecomgroup.com) (OTC.BB:FLTT - News), an International Telecoms Technology and Services Organization, today announces that it has recently obtained the services of two industry experts to ensure the successful launch of Flint Mobile into the rapidly growing U.S. Prepaid Wireless Communications market. Flint Telecom will offer nationwide cell phone services -- including Voice, Text and Data -- as an MVNO (Mobile Virtual Network Operator).
    Mr. Jeremy Gies has over 10 years of executive management experience with AT&T Wireless, from a total of 16 years in the wireless industry. Mr. Gies was most recently the CEO of telSPACE, a leading enabler of MVNO technology and services, allowing fixed line phone companies, cable and other operators to develop and offer wireless services to their customers.
    Garth Billstin: Most recently the VP of Business Development at telSPACE is a 16-year veteran of the technology and communication sectors. Mr. Billstin was responsible for the company's strategic partner relationships. As an infrastructure expert, Mr. Billstin will ensure that operations in Flint's pre-paid sector run smoothly. Previously Mr. Billstin was director of International and North American Sales at Appian Graphics. During his tenure with Appian Graphics, Mr. Billstin won contracts with many fortune 500 companies.
    Together, they will manage all aspects of Flint Mobile's launch into the rapidly growing U.S. prepaid wireless market that is slated for the first quarter of 2011. Prepaid services are now viewed as a growing and increasingly valuable segment in the U.S. wireless communications market. Ovum, a leading international research firm predicts that by 2015 the total mobile revenue in North America will be $208 Billion, $52 Billion of which will come from Prepaid. The current prepaid market is estimated at $41 Billion.
    Bernie Fried, President and COO of Flint Telecom Group commented, "We are extremely pleased to welcome Jeremy and Garth to our team. They bring a wealth of experience from the wireless industry and particularly the MVNO segment that Flint Mobile operates in. These additions will ensure that we can achieve our aims more quickly while ensuring that our customers receive the highest quality and value from the exciting plans we have designed. With our calling plans, customers will be able to call over 25 countries at domestic calling rates. When we combine the financial processing capabilities of our recent acquisitions, Flint will join the ranks of leading operators offering mobile payments in 2011."
    About Flint Telecom Group, Inc.

    http://finance.yahoo.com/news/Flint-....html?x=0&.v=1
    Flint Telecom Group Inc. is a fast growing Telecoms Technology Organization with a portfolio of companies that deliver next-generation IP communications Products and Services. The Company was founded by telecom and technology entrepreneurs with a proven track record in building global technology companies. Flint Telecom has grown both organically and through corporate activity and is traded on the OTC Bulletin Board® (OTCBB) under the ticker FLTT.OB. Additional information may be found at www.flinttelecomgroup.com

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    OVERLAND PARK, KS--(Marketwire - 12/15/10) - Flint Telecom Group, Inc. (www.flinttelecomgroup.com) (OTC.BB:FLTT - News) today announces that its Indian subsidiary Ingedigit India Software Services Ltd. ("IISS"), located in Chennai India, is expected to commence prepaid debit cards and remittance services to Indian banks and their customers as early as next quarter.
    The first stage of this program allows customers in India to have their domestic bank accounts and debit cards linked with cards of Indians working abroad. Those users can then simply remit funds to family members at home at any time by loading funds, by having their wages directly deposited to the card, or with the added convenience of using their regular cell phone. Unlike traditional remittance programs family members will have access to the remitted funds immediately in a more convenient way and at a fraction of the normal cost. They simply withdraw the funds from the client bank's ATM network as required.
    For the past 3 years, IISS has been working with several banks in India to approve and implement these Card-to-Card and Mobile Remittance Services. One of these banks has already secured approval for their program from the Reserve Bank of India -- the central bank of India responsible for regulating all Indian banking -- clearing the way for launch of services. Compliance is clearly a major issue to guard against money laundering and other illegal activities. The IISS Card-to-Card and Mobile Remittance Services are fully compliant with the guidelines laid down by the Reserve Bank of India.
    India is the world's largest recipient of remittances. Remittances grew from $49.6 billion in 2009 to $55 billion in 2010, an 11% increase and nearly twice as fast as the world average according to the World Bank's latest Migration and Remittances Factbook 2011. IE Market Research Corp, a market intelligence and business strategy consulting firm, sees Mobile Money Transfers reaching $148.5 billion in 2014 for a CAGR of 86.2% in its latest Global Consumer Telecommunications Survey.
    Mohamed Najeeb, Chairman of IISS, is a former Additional Labor Minister for the Government of the State of Kerala, the state in India that provides the most Non Resident Indian (NRI) labor. Mr. Najeeb is also a retired General Manager of NORKA ROOTS, a quasi - governmental public organization that helps all Keralite NRIs. Mr. Najeeb stated, "In 2002, NORKA ROOTS was established to act as the single interface between the State of Kerala and those living overseas. Today, about two thirds of Keralites live outside the state with the majority living abroad. More than 30% of all NRIs living abroad are from the State of Kerala making it the single largest market for overseas money remittances to India. The largest individual remitter markets are the United States and the Gulf Coast Countries, where 40% of the 5 million NRIs are from Kerala. We are targeting these markets with our Indian banking partners to provide Card-to-Card and Mobile Remittance Services in the least costly and most effective way for NRIs to bank and remit money home to their families."

  5. #5
    BillyWag Guest

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    Flint Telecom Group Inc. is a fast growing Telecoms Technology Organization with a portfolio of companies that deliver next-generation IP communications and prepaid financial Products and Services. The Company was founded by telecom and technology entrepreneurs with a proven track record in building global technology companies. Flint Telecom has grown both organically and through corporate activity and is traded on the OTC Bulletin Board® (OTCBB) under the ticker FLTT.OB. Additional information may be found at www.flinttelecomgroup.com
    This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, risks associated with the integration of businesses following an acquisition and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

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    Mr. Browne added, "The banking relationships are the critical success factor in the India market and Mr. Najeeb and the team in India and here in the U.S. have done a truly remarkable job in developing such strong banking relationships over the past few years. This is a significant competitive advantage. IISS and its banking partners will offer services both within India and to the millions of Non Resident Indians overseas. IISS receives fees for every transaction carried out by users of the services. We expect IISS to attract significant numbers over the next few years due to the rapidly growing remittance and mobile money transfer segment in India and in conjunction with our banking clients that already have millions of customers that will want these services."

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