Carson City, NV – Stockpicks.pro brings you all the Stocks in the News: Consorteum Holdings Inc. (OTCBB: CSRH), eCrypt (OTCBB: ECRY), Telanetix Inc. (OTCBB: TNXI)
Consorteum Holdings Inc. (OTCBB: CSRH)
LAS VEGAS--(July 8)-- Consorteum Holdings, Inc. (OTCBB: CSRH) is pleased to announce today that Mr. Bill Smethurst C.A. has joined Consorteum Holdings, Inc. as Chief Financial Officer. Mr. Smethurst replaces Mr. Peter Simpson, who will remain with the company in a consulting role as a member of the finance team. Consorteum Holdings has expressed thanks to Mr. Simpson for his loyal service over the past three years, as well as appreciation for the contribution he will continue to make as part of the team.
Mr. Smethurst has for the past five years been employed as Chief Financial Officer of Sernova Corp., accepting responsibility for the company's financial and administrative matters since July 2009. Prior thereto Mr. Smethurst was employed as Chief Financial Officer of Bronte Financial Services and Bronte Renewable Group SA for more than four years. Mr. Smethurst is a graduate of Manchester University in England with a B.A. in Economics, and is a member of Chartered Accountant Institute of Scotland and Ontario, Canada.
Craig Fielding, CEO of Consorteum Holdings, commented, "We are very pleased to welcome Mr. Smethurst to the team. His strong financial background and management expertise will be heavily utilized as we find ways to maximize the potential of our current portfolio of products and services, as well as launch additional revenue generating initiatives."
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eCrypt (OTCBB: ECRY)
BOULDER, Colo.--(July 8)-- eCrypt (OTCBB: ECRY) is pleased to announce it has renewed its membership in the BlackBerry® Alliance Program. Participation in the BlackBerry Alliance Program provides eCrypt with access to a wide array of benefits to help support, market and sell their application for BlackBerry® smartphones.
“As our flagship product 'eCrypt' provides email privacy for BlackBerry smartphone users, our membership in the BlackBerry Alliance Program is not only important in terms of development and support, but also in terms of taking it to market,” expressed Brad Lever, CEO of eCrypt Technologies. “Our participation in the program enables us to provide the best possible product to our customers.”
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Telanetix Inc. (OTCBB: TNXI)
BELLEVUE, Wash.--(July 8)-- Telanetix Inc. (OTCBB: TNXI), a leading communications solutions provider offering next generation voice services to the business market, today announced the completion of a comprehensive financial recapitalization of the Company. Through an investment by Hale Capital Partners, a New York based investment firm, and its affiliates, Telanetix reorganized its outstanding senior debt, reducing it from $29.6 million to $7.5 million. Hale Capital Partners is also providing an additional $3.0 million dollars for working capital through a backstop of a subsequent rights offering, providing liquidity that strengthens the Company’s ability to execute on its business plan.
“I am extremely pleased to announce completion of this comprehensive financial recapitalization of Telanetix with our new financial partner, Hale Capital Partners, whereby we have significantly reduced our outstanding debt from $29.6 million to $7.5 million and retired all of the outstanding warrants relating to the original debt,” said Doug Johnson, Telanetix’s CEO. “Additionally, Hale Capital Partners has provided us with the working capital we believe we need to accelerate the growth of our core Digital Phone Service (DPS) business. With this simplified capital structure, we can finally see a clear path to paying off all of our outstanding debt and realizing the profits from our growing core business. We are very excited to have an investor like Hale Capital Partners aligned with our existing stakeholders’ interests and we look forward to executing on our business plan to grow our market share in the rapidly expanding Digital Phone Service market.”
“We are very pleased to announce today our investment in and partnership with Telanetix,” said Martin Hale, CEO of Hale Capital Partners. “Telanetix has a service offering that delights customers while providing a viable economic model for the company. Having helped produce a clean capital structure, we are excited to be working with a team able to focus on their core mission of providing superior and cost effective services. Telanetix offers business customers an easy to use, cost effective, powerful alternative to today’s traditional telecom providers. We look forward to working with the Telanetix management team as they execute their business plan to capitalize on the significant opportunity ahead of them.”
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