SAN DIEGO, June 6, 2018 /PRNewswire/ -- TPT Global Tech (OTCBB: TPTW) announced today that the company raised $594,000 USD YTD 2018. The capital was a combination of Debt and Equity. TPT Global raised $284,500 USD in debt and $309,500 USD in equity. The infusion of capital was used for continuing operations and audit expenses related to the completion of the 2017 audit and inclusion in the TPTW Form S1 and other SEC/OTC related filings.The debt raised is primarily through promissory notes due 30 months from issuance, bearing 6% interest and convertible into Series C preferred Stock. The equity was raised at $.10 per common share.
"We are very pleased with the financial support we received from our investors YTD 2018 and we look forward to their continued support as well as new investors throughout 2018," said CEO Stephen J. Thomas III, CEO TPT Global Tech.
About TPT Global Tech
TPTG (OTC:TPTW) based in San Diego, California, is a Technology/Telecommunications Media Content Hub for global syndication. TPTG provides advanced technology solutions to businesses Worldwide with a product portfolio offering customers solutions for New Technology: 3DSmartPhone, Mobile Network, Digital Content and SaaS.
Through acquisitions, TPTG is building a seamless wholesale and retail operation to service customers around the globe. TPTG continues to seek growth opportunities to leverage its New Generation, New Media Technology products and services. TPTG is able to deliver a live Global TV Broadcast and Social Media Platform through a simple Mobile App interface, TPTG, through its proprietary Content Delivery Network offers a broad assortment of global Television partners in addition to TPTG internal Studio production.
The company is a Cloud Unified Business Services (CUBS) technology-based company that unifies multiple services from the cloud using its proprietary Wrap Around Relationship Marketing (WARM) system.
TPTG also operates as a Master Distributor for Nationwide Mobile Virtual Network Operators (MVNO) and Independent Sales Organization (ISO) as well as a Master Distributor for Pre-Paid Cellphone services, Mobile phones Cellphone Accessories and Global Roaming Cellphones. We are all looking forward to the bright future of TPTG with the filing of the Form S-1.
Forward Looking Statements:
This press release contains various forward-looking statements that are based on our beliefs as well as assumptions made by and information currently available to us. When used in this press release, the words "believe", "expect", "anticipate", "estimate" and similar expressions are intended to identify forward-looking statements. These statements may include statements regarding seeking business opportunities, payment of operating expenses, and the like, and are subject to certain risks, uncertainties and assumptions which could cause actual results to differ materially from projections or estimates. Factors which could cause actual results to differ materially are discussed at length under the heading "Risk Factors". Should one or more of the enumerated risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Investors should not place undue reliance on forward-looking statements, all of which speak only as of the date made. We will not undertake to update any forward looking statement or this news release in the future.
SOURCE TPT Global Tech