COMMODITEL HITS SEPTEMBER MILESTONE AHEAD OF SCHEDULE
Commoditel Limited (ASX: CMO) has smashed through the 27,500 customers barrier ahead of the month end as previously expected. Recent months have proven that the Company’s acquisition program is working extremely well and triple digit growth is occurring with subscriber connections. The board believes this subscriber growth trend will continue, with a forecast of 45,000 customers by the end of this calendar year being well within reach. Managing Director of Commoditel, Mr George Gelavis, said: “Achieving the 27,500 milestone is another important step for Commoditel. We were very pleased about hitting 15,000 by the end of June, however our Revolution branded online model is picking up considerable momentum. We are experiencing growth similar to that which created such a shake up in the European market”. “We will continue to drive efficiencies in our operation and scale up our business model. We believe our recent successes will continue and that our business model has a sustainable future in the market, both in Australia and overseas. This milestone is just further proof that our business model is working”.
About CommodiTel:
CommodiTel Limited (ASX: CMO)) is a new type of Telco with a low-cost business model that has already had a major impact in both the European and US telecommunications market. It has positioned itself as a service provider to retailers who wish to offer their customers the benefits of their own branded and priced telecommunications, without the costs and risks of establishing and managing their own network. They are the first dedicated pre-paid Mobile Virtual Network Enabler (MVNE) in Australia. MVNE’s allow retail operators to set-up their own mobile telephone network without the massive infrastructure and capital costs normally associated with being a telco. In Australia, CommodiTel is also pioneering pre-paid discount mobile SIMS exclusively over the Internet, through its wholly-owned division Revolution Telecom. By keeping distribution and cross-subsidy costs to a minimum, Revolution Telecom is able to offer some of the cheapest mobile rates in Australia.
(www.commoditel.com) and (www.revtel.com.au)
Further information: George Gelavis
Managing Director CommodiTel Limited Tel: 0405 122 123
CMO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
