Business News

Wells Fargo Expands Financing for ATSI to $5 Million

SOURCE:

ATSI Communications

2008-04-08 04:00:00

Wells Fargo Expands Financing for ATSI to $5 Million

SAN ANTONIO, TX–( EMWNews – April 8, 2008) – ATSI Communications, Inc. (OTCBB: ATSX)

today announced that Wells Fargo Business Credit, a division of Wells Fargo

Bank, N.A. (NYSE: WFC) has increased ATSI’s accounts receivable financing

agreement to $5 million. The Company was previously approved for $3

million in December 2007. The expanded facility is reflective of ATSI’s

continued financial performance and serves as a low-cost funding source for

growth in the Company’s global VoIP business.

Brad LeFevre, VP of Wells Fargo Business Credit, stated, “As expected, our

accounts receivable funding has facilitated the Company’s business

expansion. We are very pleased to increase the current facility and

continue supporting ATSI’s global growth initiatives.”

Antonio Estrada, ATSI’s Sr. VP of Finance and Corporate Controller, added,

“We were able to utilize the Wells Fargo financing facility during the 2nd

quarter of Fiscal 2008 that resulted in record revenue and gross profit.

As we head into the final stretch of our fiscal year, the expanded facility

will provide us a valuable cash management tool that will greatly assist us

in continuing our revenue and customer base growth.”

ATSI Communications, Inc. operates through its two wholly owned

subsidiaries, Digerati Networks, Inc. and Telefamilia Communications, Inc.

Digerati Networks, Inc. is a premier global VoIP carrier serving rapidly

expanding markets in Asia, Europe, the Middle East, and Latin America, with

an emphasis on Mexico. Through Digerati’s partnerships with established

foreign carriers and network operators, interconnection and service

agreements, and a NextPoint powered VoIP network, ATSI believes it has

clear advantages over its competition. Telefamilia Communications provides

specialized retail communication services that include VoIP services to the

high-growth Hispanic market in the United States. ATSI also owns a

minority interest of a subsidiary in Mexico, ATSI Comunicaciones, S.A. de

C.V., which operates under a 30-year government issued telecommunications

license.

The information in this news release includes certain forward-looking

statements that are based upon management’s expectations and assumptions

about certain risks and uncertainties that can affect future events.

Although management believes these assumptions and expectations to be

reasonable on the date of this news release, these risks and uncertainties

may cause actual events to differ material from managements those contained

in this news release. The risks and uncertainties include, but are not

limited to, continuing as a going concern, availability and cost of our

present vendors and suppliers, and absence of any change in government

regulations or other costs associated with data transmission over the

Internet or termination of transmissions in foreign countries.

Contact:
Jack Eversull
The Eversull Group
972-378-7917
972-378-7981 (fax)
E-mail:
Web Site: www.atsi.net

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Blake Masterson

Freelance Writer, Journalist and Father of 5

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