MIAMI, FL, March 28 /PRNewswire-FirstCall/ - 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
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 #: 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 without charge.
SOURCE Phinder Technologies Inc.