Digerati Technologies Expects to Report Improved Annual Revenue of $6.2 Million
– Positive Adjusted EBITDA Achieved For its 4th Fiscal Quarter –
SAN ANTONIO, TX (GlobeNewswire) – October 1, 2020 – Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, is pleased to announce that it expects to report improved revenue of $6.2 Million for its fiscal year ended July 31, 2020 and positive EBITDA adjusted for non-cash and one-time transactional expenses for its 4th Fiscal Quarter ending July 31, 2020.
Digerati and its operating subsidiary, T3 Communications, Inc., continue to make progress in moving its two proposed acquisitions (including Nexogy, Inc.) and financing transaction towards a closing. The Company will provide updates as all parties work towards completing the transactions.
Arthur L. Smith, Chief Executive Officer of Digerati, commented, “We look forward to providing updates on our transactions and reporting complete financial results for FY2020, a year during which we met many of our stated objectives that have set the stage for continued progress in FY2021.”
About Digerati Technologies, Inc.
Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its subsidiary, T3 Communications (T3com.com), the Company is meeting the global needs of businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions, including cloud PBX, cloud mobile, Internet broadband, SD-WAN, SIP trunking, and customized VoIP services, all delivered on its carrier-grade network and Only in the Cloud™.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company’s periodic filings with the Securities and Exchange Commission.
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