Telehop Communications Inc. ("Telehop" or the "Company"), (TSX-V: HOP)
today announced its financial performance during the second quarter
ended June 30, 2014.
Telehop is pleased to announce as a result of the acquisitions of G3
Telecom and iRoam Mobile, revenue has increased by 120% to $4,719,619
for the quarter ending June 30, 2014. The Company's cash balance has
also increased to $1,894,363 million.
During the second quarter, Telehop completed the acquisition of iRoam
Mobile Solutions and continued to integrate the G3 group of companies
acquired in the first quarter. Through the acquisitions Telehop is now
diversifying revenues from declining traditional long distance dial
around market, to wireless and data services. Product offerings of SIM
cards, data roaming devices and worldwide Wi-Fi roaming solutions are
showing opportunities for revenue growth in a variety of enterprise and
Telehop has continued to deliver a positive EBITDA. For the quarter
EBITDA was $62,490 after expensing transaction costs of $35,973 incurred
during the second quarter related to the acquisitions.
"I am pleased with the direction and the new markets Telehop is now
entering through the acquisitions. We are re-aligning brands and
devising new marketing campaigns. We expect to see these investments
continue to open new opportunities for Telehop and to deliver cost
saving synergies across the business lines." said Rajiv Jagota,
President and CEO.
Company highlights during the quarter include:
1We define EBITDA as earnings before interest costs, taxes,
depreciation and amortization. EBITDA is a non-GAAP financial measure,
is a measure used in to assist in understanding and comparing operating
results. EBITDA is reviewed regularly by management and our Board of
Directors in assessing performance and in making decisions regarding the
ongoing operations of the business and the ability to generate cash
flows. Generally, a non-GAAP financial measure is a numerical measure of
a company's performance, financial position or cash flows that either
excludes or includes amounts that are not normally excluded or included
in the most directly comparable measure calculated and presented in
accordance with IFRS. EBITDA is not a measure of financial performance
nor do it have a standardized meanings under IFRS. In evaluating these
measures, investors should consider that the methodology applied in
calculating such measures may differ among companies and analysts. We
have reconciled EBITDA to its most comparable measure calculated in
accordance with IFRS, being net income (loss) in the tables below.
Below is a reconciliation of "EBITDA" to net income (loss) for the
A complete financial reporting package for the June 30, 2014 quarter,
including the December 31, 2013 Audited Annual Consolidated Financial
Statements and Notes to the Financial Statements and MD&A, is available
at our corporate website (www.telehop.com),
at SEDAR website (www.sedar.com)
or via email to email@example.com
or via phone at 416-499-5463.
Telehop Communications Inc. also announces today that due to the absence
of convening a meeting of shareholders in 2013, its stock option plan
that is structured as a 10% rolling plan, was deemed by TSX Venture
Exchange policies, to have converted into a fixed plan from and after
November 27, 2013. It remained a fixed plan until approval of the
shareholders was obtained to the 10% rolling plan at its last
shareholders meeting on July 8, 2014.
During the period between November 27, 2013, and July 8, 2014, the plan
which was deemed to be a fixed plan, was restricted so that the number
of issued and outstanding options at no time be greater than 2,427,208
options. During that period there were no more than 2,408,875 options
outstanding at any time, the parameters of which appear in notes 10 of
the financial statements for the year ended December 31, 2013, and the
three months ended March 31, 2014.
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its plans
constitute "forward-looking statements" within the meaning of Canadian
securities laws. By their nature, forward-looking statements require the
Company to make assumptions and are subject to inherent risks and
uncertainties. The forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially
different from any performance or achievement expressed or implied by
such forward-looking statements. We direct you to our Company's
Management's Discussion and Analysis filed for the current period.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Telehop Communications Inc. (TSX-V: HOP) was founded and headquartered
in Toronto, Ontario in 1993, and has grown into one of the largest
alternative telecommunications providers to both residential and
Telehop originally began offering residential and business two-way
monthly 'flat rate' calling services in the Greater Toronto area between
communities where a call would otherwise be a long distance call. In
1994, Telehop became one of Canada's few Equal Access Long Distance
Providers, allowing it to offer its customers full service long distance
calling globally at significantly lower rates. The Canadian
Radio-television and Telecommunications Commission ("CRTC") has licensed
Telehop as a Class "A" telecommunications carrier.
Telehop's dedication and priority is providing residential and
businesses with exceptional phone services at competitive rates without
sacrificing quality service.
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