ANTHEM, Ariz., Jan. 28 /PRNewswire-FirstCall/ -- Prime Companies, Inc. (Pink Sheets: PCIR) today announced it has entered into a Definitive Agreement that will allow it to spin off its wholly owned subsidiary, Prepaid Tel.com, Inc., which discontinued operations in 2007, to a San Diego firm which, once it has gone public, will reward Prime Companies' shareholders with 15 percent of the new company.
The agreement with TransPacific Telecom, Inc., the developer of award winning VOIP processing software, allows TransPacific to make the necessary filings to take the merged company public. "This merger will enable TPT to become publicly traded, providing us the opportunity to utilize the capital markets and to raise the funds that will be used to make TPT a world renowned, elite telecommunications carrier of choice," said Stephen Thomas, TPT CEO.
"Spinning off 15 percent of the merged company to our shareholders will be a significant dividend in the expected future growth of TransPacific Telecom," said Norbert Lima, Chairman of Prime Companies' Board of Directors. Mr. Lima, with 35 years experience in the telecommunications industry, will become President of TPT upon completion of the transaction.
Prime Companies recently announced the launch of its new web site at http://www.mychoicedentist.com and an active telemarketing program to dentists is proceeding. The web site will allow people nationally to search for dentists by location, dental specialty, insurance accepted, office hours and other choices. It provides the dental community with services to enhance their ability to attract new patients and matches people looking for dentists with the right professional for their needs.
About PRIME COMPANIES, INC.:
Prime Companies, Inc., is a provider of web services to the dental community to enhance their ability to attract new patients and to grow their businesses. Prime's web site, www.mychoicedentist.com, is the most comprehensive dental directory on the Internet.
About TRANSPACIFIC TELECOM, INC.:
TransPacific Telecom, Inc. the developer of an award winning VOIP Processing Software known as VIVO, integrates VIVOware with TPT's global VoIP infrastructure affording the enviably economic routing and transporting of both domestic and international long-distance. For global applications, TPT's software and services deliver voice services over broadband Internet to remote locations where traditional phone service could take months to install and be prohibitively costly.
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
CONTACT: Prime Companies, Inc. Paul Knopick E & E Communications (949) 707-5365 firstname.lastname@example.org
|SOURCE Prime Companies, Inc.|
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