EXHIBIT 99.1
PRESS RELEASE
Contact:
TELEPLUS ENTERPRISES, INC.
Investor Relations & Corporate Communications
866-699-3388 ext 222
investorrelation@teleplus.ca
- ----------------------------
TELEPLUS Q2 SALES REACH $6.5M, OPERATING INCOME $247K AND OPERATING CASH FLOW
1.6M SETTING THE PACE FOR A RECORD YEAR FOR THE COMPANY
YTD Sales now reach $13.2M and Operating Income $511k
MONTREAL, QC - AUGUST 15, 2006 - TELEPLUS ENTERPRISES, INC. (OTCBB: TLPE)
(Frankfurt: YT3.F) (www.teleplus.ca) ("TelePlus" or the "Company") is pleased to
announce that it has posted its full Q2 financial results and that management
will discuss these results in a webcast on August 16, 2006 (details below).
Total revenues reached $6,449,667 compared to $563,488 (excluding discontinued
operations) for the same period last year, representing an increase of 1145%.
Operating Income for the period was $247,297. Net Income from Continuing
Operations was $2,627,278 (including a gain from derivative liability) while Net
Income was $2,540,021 after $87,257 write-off for the discontinued retail
division compared to a Net Loss of $757,223 in the same period last year.
Positive cash flow from operating activities reached record $1.6M.
For the first six months of the year, revenues reached $13,247,220 compared to
$563,488 (excluding discontinued operations) a year ago representing an increase
of 2351%. Operating Income was $511,392 compared to a $381,698 loss from the
same period last year. Net Loss from Continuing Operations was $23,888
(including an impact from derivative liability and Warrant expenses) while Net
Loss was $272,496 after $248,608 write-off for the discontinued retail division
compared to a Net Loss of $1,328,342 in the same period last year.
CEO Marius Silvasan commented "Q2's results, specifically the $247k in
Operations Income clearly demonstrates that management is focused on reaching
its business objectives and increasing shareholder value. For the second
consecutive quarter we delivered positive Operating Income while sustaining our
revenue growth. We also proved our ability to generate strong cash flow from
operating activities which has reached $1.6M. It is important to point out that
we have not yet benefited from revenues resulting from our acquisition of Maximo
Impact, Corp. which has just launched its MX Mobile product and many other
marketing initiatives."
"We have made several key announcements throughout Q1 and Q2. For instance, we
have significantly reduced the Company's debt by negotiating a debt reduction
from the former shareholders of Keda Consulting, Corp.(now TelePlus Connect
Corp.); positioned TelePlus as a key player in the MVNO arena by building
strategic relationships with dealers serving the unbanked market and with
vendors with direct access to our target audience, specifically, MobileSphere
with its extensive college student network and AccountNow which provides the
unbanked consumers with a MasterCard branded pre-paid card. Our market is
growing and we intend to grow in an industry that analysts predict will swell to
$32 billion by 2008" added Silvasan.
The Company would also like to advise investors that it has changed its
treatment of derivatives associated with its financing with Cornell Capital
Partners, as well as the reclassifications of certain key assets obtained
through the acquisitions of Telizon, Inc., Freedom Phone Lines and Avenue
Reconnect, Inc. For the foregoing reasons, the Company will be amending in the
near future, previously issued quarterly reports filed on Form 10-QSB for the
periods which ended on March 31, 2006, September 30, 2005 and June 30, 2005 as
well as its annual report filed on Form 10-KSB for the year ended December 31,
2005.
WE INVITE SHAREHOLDERS, BROKERS AND ANALYSTS TO JOIN US FOR THE TELEPLUS Q2
WEBCAST ON AUGUST 16, 2006 AT 8:00 AM ET. THE WEBCAST CAN BE ACCESSED LIVE AT:
HTTP://PHX.CORPORATE-IR.NET/PLAYERLINK.ZHTML?C=144803&S=WM&E=1366007 OR BY
CALLING 1-866-362-4832
(OVERSEAS ACCESS +1-617-597-5364) -- PARTICIPANT CODE 10481867. Q&A TO FOLLOW.
PLEASE EMAIL ALL QUESTIONS PRIOR OR DURING THE WEBCAST AT
INVESTORRELATIONS@TELEPLUS.CA
TELEPLUS ENTERPRISES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
FOR THE SIX AND THREE MONTHS ENDED JUNE 30, 2006 AND 2005
(UNAUDITED)
IN US$
SIX MONTHS ENDED THREE MONTHS ENDED
JUNE 30, JUNE 30,
2006 2005 2006 2005
-------------- -------------- -------------- --------------
CONTINUING OPERATIONS: (RESTATED) (RESTATED)
OPERATING REVENUES
REVENUES $ 13,247,220 $ 563,488 $ 6,449,667 $ 563,488
OPERATING COSTS AND EXPENSES
COST OF REVENUES 7,966,864 297,641 3,839,601 297,641
GENERAL, ADMINISTRATIVE AND SELLING 2,039,401 329,354 1,023,112 210,851
TOTAL OPERATING EXPENSES 12,735,828 945,186 6,202,370 713,060
-------------- -------------- -------------- --------------
OPERATING INCOME (LOSS) 511,392 (381,698) 247,297 (149,572)
OTHER INCOME (EXPENSE)
-------------- -------------- -------------- --------------
TOTAL OTHER INCOME (EXPENSE) (535,280) (226,286) 2,379,981 (103,848)
-------------- -------------- -------------- --------------
NET INCOME (LOSS) FROM CONTINUING OPERATIONS (23,888) (607,984) 2,627,278 (253,420)
NET LOSS FROM DISCONTINUED OPERATIONS (248,608) (720,358) (87,257) (503,803)
-------------- -------------- -------------- --------------
NET INCOME (LOSS) $ (272,496) $ (1,328,342) $ 2,540,021 $ (757,223)
============== ============== ============== ==============
NET INCOME (LOSS) PER BASIC SHARES $ (0.00) $ (0.02) $ 0.03 $ (0.01)
NET INCOME (LOSS) PER DILUTED SHARES $ (0.00) $ (0.02) $ 0.01 $ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING - BASIC 87,377,926 72,459,817 86,420,187 72,744,169
============== ============== ============== ==============
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING - DILUTED 87,377,926 72,459,817 177,458,903 72,744,169
============== ============== ============== ==============
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Net income (loss) $ (272,496) $ (1,328,342) $ 2,540,021 $ (757,223)
Other comprehensive income (loss)
Currency translation adjustments 469,252 (46,901) 480,251 (35,906)
-------------- -------------- -------------- --------------
Accumulated other comprehensive income (loss) $ 196,756 $ (1,375,243) $ 3,020,272 $ (793,129)
============== ============== ============== ==============
ABOUT TELEPLUS ENTERPRISES, INC. (OTCBB: TLPE) http://www.teleplus.ca
TELEPLUS ENTERPRISES, INC. ("TelePlus") is a diversified North American
telecommunications company with offices in Miami, Florida; Cleveland, Ohio;
Montreal, Quebec; and Barrie, Ontario. TelePlus was founded in 1999 and it has
since become a leading provider of wireless and telecommunications products and
services across the U.S.A. and Canada. In October 2003, TelePlus became a
publicly traded Company on the OTCBB under the symbol TLPE and since then it has
continued to grow organically and through strategic acquisitions. The company's
wholly-owned subsidiaries include TELEPLUS WIRELESS, CORP. which operates a
prepaid MVNO (Mobile Virtual Network Operator) under the Liberty Wireless brand;
MAXIMO IMPACT, CORP. which operates a pay-as-you-go MVNO under the MX Mobile
brand and TELEPLUS CONNECT, CORP. which resells landline, long distance and
internet services under the Telizon, Freedom and Liberty brands. The company's
websites include www.libertywireless.com, www.vivaliberty.com,
www.maximoimpact.com and www.telizon.biz among others.
TO VIEW THE REDCHIP(TM) VISIBILITY RESEARCH REPORT, PLEASE VISIT:
http://www.redchip.com/visibility/researchPages/ClientInfo/
_default.asp?symbol=TLPE
TO VIEW THE MOST RECENT VIDEO INTERVIEW WITH CEO, PLEASE VISIT:
http://www.teleplus.ca/download/18teleplus.wmv
TO VIEW THE WALL STREET RESEARCH REPORT & ANALYST INTERVIEW, PLEASE VISIT:
Interview: http://www.teleplus.ca/download/TLPEAnalyst.wmv
Report: http://www.wallstreetresearch.org/reports/tlpe.htm
TO VIEW OUR MOST RECENT INVESTOLOGY RESEARCH REPORT, PLEASE VISIT:
http://www.teleplus.ca/download/TLPEUPDATE17April06-Final.pdf
LISTEN TO OUR Q1 WEBCAST AT:
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=1453540
TO VIEW THE CEO INTERVIEW ON THE FLOOR OF THE AMEX, PLEASE VISIT:
http://www.teleplus.ca/download/TLPE.wmv
TO VIEW THE MOST RECENT TRADER'S REPORT ON TELEPLUS, PLEASE VISIT:
http://www.teleplus.ca/download/TLPEtrader.wmv
The statements which are not historical facts contained in this press release
are forward-looking statements that involve certain risks and uncertainties,
including but not limited to risks associated with the uncertainty of future
financial results, additional financing requirements, development and
acquisition of new product lines and services, government approval processes,
the impact of competitive products or pricing from technological changes, the
effect of economic conditions and other uncertainties, and the risk factors set
forth from time to time in the Company's SEC reports, including but not limited
to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and
any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to
update or correct forward-looking statements.
PRESS RELEASE
Contact:
TELEPLUS ENTERPRISES, INC.
Investor Relations & Corporate Communications
866-699-3388 ext 222
investorrelation@teleplus.ca
- ----------------------------
CORRECTION: TELEPLUS Q2 SALES REACH $6.5M, OPERATING INCOME $247K AND OPERATING
CASH FLOW 1.6M SETTING THE PACE FOR A RECORD YEAR FOR THE COMPANY
YTD Sales now reach $13.2M and Operating Income $511k
MONTREAL, QC - AUGUST 18, 2006 - TELEPLUS ENTERPRISES, INC. (OTCBB: TLPE)
(Frankfurt: YT3.F) (www.teleplus.ca) ("TelePlus" or the "Company") In a press
release issued on August 15, 2006 by TelePlus, under the Condensed Consolidated
Statements of Operations and Accumulated Other Comprehensive Income (Loss) for
the Six and Three Months Ended June 30, 2006, the General, Administrative and
Selling fields should read as follows:
TELEPLUS ENTERPRISES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
FOR THE SIX AND THREE MONTHS ENDED JUNE 30, 2006 AND 2005
(UNAUDITED)
IN US$
SIX MONTHS ENDED THREE MONTHS ENDED
JUNE 30, JUNE 30,
2006 2005 2006 2005
-------------- ------------- -------------- ------------
(RESTATED) (RESTATED)
GENERAL, ADMINISTRATIVE AND SELLING 4,768,964 647,545 2,362,769 415,419
All other fields, including Total Operating Expenses, Total Revenues and
Operating Income remain unchanged.
ABOUT TELEPLUS ENTERPRISES, INC. (OTCBB: TLPE) http://www.teleplus.ca
TELEPLUS ENTERPRISES, INC. ("TelePlus") is a diversified North American
telecommunications company with offices in Miami, Florida; Cleveland, Ohio;
Montreal, Quebec; and Barrie, Ontario. TelePlus was founded in 1999 and it has
since become a leading provider of wireless and telecommunications products and
services across the U.S.A. and Canada. In October 2003, TelePlus became a
publicly traded Company on the OTCBB under the symbol TLPE and since then it has
continued to grow organically and through strategic acquisitions. The company's
wholly-owned subsidiaries include TELEPLUS WIRELESS, CORP. which operates a
prepaid MVNO (Mobile Virtual Network Operator) under the Liberty Wireless brand;
MAXIMO IMPACT, CORP. which operates a pay-as-you-go MVNO under the MX Mobile
brand and TELEPLUS CONNECT, CORP. which resells landline, long distance and
internet services under the Telizon, Freedom and Liberty brands. The company's
websites include www.libertywireless.com, www.vivaliberty.com,
www.maximoimpact.com and www.telizon.biz among others.
TO VIEW THE REDCHIP(TM) VISIBILITY RESEARCH REPORT, PLEASE VISIT:
http://www.redchip.com/visibility/researchPages/ClientInfo/
_default.asp?symbol=TLPE
TO VIEW THE MOST RECENT VIDEO INTERVIEW WITH CEO, PLEASE VISIT:
http://www.teleplus.ca/download/18teleplus.wmv
TO VIEW THE WALL STREET RESEARCH REPORT & ANALYST INTERVIEW, PLEASE VISIT:
Interview: http://www.teleplus.ca/download/TLPEAnalyst.wmv
Report: http://www.wallstreetresearch.org/reports/tlpe.htm
TO VIEW OUR MOST RECENT INVESTOLOGY RESEARCH REPORT, PLEASE VISIT:
http://www.teleplus.ca/download/TLPEUPDATE17April06-Final.pdf
LISTEN TO OUR Q1 WEBCAST AT:
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=1453540
TO VIEW THE CEO INTERVIEW ON THE FLOOR OF THE AMEX, PLEASE VISIT:
http://www.teleplus.ca/download/TLPE.wmv
TO VIEW THE MOST RECENT TRADER'S REPORT ON TELEPLUS, PLEASE VISIT:
http://www.teleplus.ca/download/TLPEtrader.wmv
The statements which are not historical facts contained in this press release
are forward-looking statements that involve certain risks and uncertainties,
including but not limited to risks associated with the uncertainty of future
financial results, additional financing requirements, development and
acquisition of new product lines and services, government approval processes,
the impact of competitive products or pricing from technological changes, the
effect of economic conditions and other uncertainties, and the risk factors set
forth from time to time in the Company's SEC reports, including but not limited
to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and
any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to
update or correct forward-looking statements.