OTC BB symbol (PHDT)
MIAMI, FL, March 28 /CNW/ - Phinder Technologies Inc. is pleased to
announce that it has closed a $10 million factoring line with Thermo Credit,
LLC of New Orleans and Rockland Credit Finance, LLC of Maryland.
Thermo Credit, LLC will partner with Rockland Credit Finance, LLC to
provide up to $10 million of accounts receivable financing, to Zupintra
Communications Inc. (Zupintra), a wholly owned subsidiary of Phinder
Technologies Inc. Zupintra will have access to the accounts receivable
financing as soon as the credit insurance, as announced in the October press
release is in place. This line will fund revenues of up to $20 million per
month for Zupintra. Although Thermo Credit, LLC is an accounts receivable
company specializing in the telecommunication industry, this is their first
foray into the wholesale carrier to carrier marketplace.
"The fact that we had a previous working relationship with Zupintra's
management team and Phinder Technologies Inc. CEO, John Alexander van Arem
gave us the comfort level we were looking for to roll out this new product"
stated Seth Block, Executive Vice-President of Operations of Thermo Credit,
"We are very pleased with this financing arrangement", stated John
Alexander van Arem, CEO of Phinder Technologies Inc. "The terms are favorable
and the size of the line positions the company to negotiate preferred terms
with our suppliers".
Phinder Technologies' core business runs through its wholly owned
subsidiary, Zupintra Communications Inc. Zupintra is a facilities based
wholesaler of international voice traffic within the carrier to carrier
network. As a wholesale VoIP provider, Zupintra Communications Inc. signs both
origination and termination contracts with next generation carriers and
profits from negotiated rates.
FRANKFURT - WKN No.: A0DQU5
In compliance with the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, PHDT notes that statements contained in this
announcement that are not historical facts may be forward - looking statements
that are subject to a variety of risks and uncertainties. Accordingly, PHDT
wishes to caution readers of this announcement that its future actual results
may differ materially from those that any forward - looking statements may
imply. There is no assurance the above - described events will be completed.
There can be no assurance of the ability of the company to achieve sales
goals, obtain contracts or financing, consummate acquisitions or achieve
profitability in the future. The above and additional factors are discussed in
detail in the company's filings with the U.S. Securities and Exchange
Commission. These may be viewed at www.sec.gov and many other Web sites
For further information:
For further information: For Investor Relations contact: David Putnam,
Email: email@example.com, (416) 815-1771 ext.227, www.phinder.com, IR Fact Sheet: