Lyfe Communications Announces Investment
Company Has Secured a Lead Investor to Complete Its Bandwidth Upgrade Program, Providing More Services in Existing Areas and Increasing Network Capacity to Carry More Customers
(firmenpresse) - SALT LAKE CITY, UT -- (Marketwire) -- 09/13/11 -- Lyfe Communications, Inc. (OTCBB: LYFE), a technology leader in the development of next generation media services integrating TV, high-speed Internet and enhanced voice services, today announced that it has secured a lead investor for its next round of financing. These funds will complete its bandwidth upgrade program, enabling new services and expanding capacity at apartment complexes where the company has recently acquired rights of entry.
The lead investor will provide working capital to fully fund the bandwidth upgrade program. Over the next several weeks the company will assess the speed with which vendors can deploy the new capacity needed to increase revenues. The round will be closed before the end of the third quarter to allow these upgrades to drive future growth initiatives.
"This is a great statement of support for our model and our team's execution these past few months," said Greg Smith, Founder and CEO of Lyfe Communications. "With reduced operating costs and positive gross margin services, we are proving our business model. We will raise, deploy, and return on a measured scale and then go after larger and larger opportunities such as telecomm and media operators. Our model only gets better with scale."
Since inception, the company has been following a "buy and build under" acquisition strategy. The support the company has received from early stage investors as well as new investors has been an important step in executing on that strategy.
This press release may contain forward-looking statements including the Company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, changes in anticipated earnings of the company and other factors detailed in the company's filings with the SEC. In addition, the factors underlying Company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The Company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.
Connected Lyfe
Garrett Daw
Tel: 1-877-367-5933
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Datum: 13.09.2011 - 10:00 Uhr
Sprache: Deutsch
News-ID 65128
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SALT LAKE CITY, UT
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Internet
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