Cloud Services Archives

Release – QuoteMedia Announces 16% Revenue Growth for 2022

Posted on March 31, 2023March 31, 2023 by aweinsoff@channelchek.com

PHOENIX, March 31, 2023 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, announced financial results for the fiscal year ended December 31, 2022.

QuoteMedia provides banks, brokerage firms, private equity firms, financial planners and sophisticated investors with a more economical, higher quality alternative source of stock market data and related research information. We compete with several larger legacy organizations and a modest community of other smaller companies. QuoteMedia provides comprehensive market data services, including streaming data feeds, on-demand request-based data (XML/JSON), web content solutions (financial content for website integration) and applications such as Quotestream Professional desktop and mobile.

Highlights for fiscal 2022 include the following:

Annual revenue increased to $17,527,605 in 2022 from $15,174,372 in 2021, an increase of $2,353,233 (16%).
Net income for 2022 was $444,470 compared to $212,372 in 2021, an improvement in profitability of $232,098.
Adjusted EBITDA for 2022 was $2,727,411 compared to $1,649,679 in 2021, an improvement of $1,077,732.

“This was another very successful year for QuoteMedia,” said Robert J. Thompson, Chairman of the Board. “We continued our strong growth across virtually every success metric, including revenue growth, profitability and market share; and we expect to continue on this trajectory through the coming year.

“2022 marked the signing and launch of major multi-year agreements with two of Canada’s largest banking institutions, as well as large-scale agreements with several other multi-national financial firms. We also have many new and exciting opportunities for 2023, as we are currently in negotiations with several large firms. As a result, we expect our revenue growth in fiscal 2023 to match or exceed the annual revenue growth we achieved in 2022; and we expect to significantly improve upon our net income figure as well.

“2022 was also significant because, as a result of the efforts and investments we made to improve our infrastructure, security, and business continuity management, we achieved our SOC2 Type II certification. SOC2 accreditation provides independent assurance that Quotemedia maintains a high level of information security, data integrity and business resiliency. This certification allows QuoteMedia to make even greater gains, as SOC2 accreditation is increasingly becoming an absolute requirement for those providing services to large financial institutions, and we are already experiencing the benefits.

“Our growth in revenue and market share has been fueled by our development of exciting new data applications and products, as well as the expansion of our global market coverage, and this will definitely continue throughout 2023 and beyond. We are looking forward to continued success in the years to come.”

QuoteMedia will host a conference call Monday, April 3, 2023 at 2:00 PM Eastern Time to discuss the 2022 financial results and provide a business update.

Conference Call Details:

Date: April 3, 2023

Time: 2:00 PM Eastern

Dial-in number: 800-245-3047

Conference ID: QUOTEMEDIA

An audio rebroadcast of the call will be available later at: www.quotemedia.com

About QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Bank of Montreal (BMO), Broadridge Financial Systems, JPMorgan Chase, Scotiabank, CI Financial, Canaccord Genuity Corp., Hilltop Securities, Avantax, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, The Goldman Sachs Group, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Credential Qtrade Securities, CNW Group, iA Private Wealth, Ally Invest, Inc., Suncor, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Equisolve, Stock-Trak, Mergent, Cision and others. Quotestream®, QMod™ and Quotestream Connect™ are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com .

Statements about QuoteMedia’s future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company’s SEC reports and filings and are subject to change at any time. QuoteMedia’s actual results and other corporate developments could differ materially from that which has been anticipated in such statements.

Below are the specific forward-looking statements included in this press release:

We also have many new and exciting opportunities for 2023, as we are currently in negotiations with several large firms. As a result, we expect our revenue growth in fiscal 2023 to match or exceed the annual revenue growth we achieved in 2022; and we expect to significantly improve upon our net income figure as well.

QuoteMedia Investor Relations

Brendan Hopkins
Email: investors@quotemedia.com
Call: (407) 645-5295

Note 1 on Non-GAAP Financial Measures

We believe that Adjusted EBITDA, as a non-GAAP pro forma financial measure, provides meaningful information to investors in terms of enhancing their understanding of our operating performance and results, as it allows investors to more easily compare our financial performance on a consistent basis compared to the prior year periods. This non-GAAP financial measure also corresponds with the way we expect investment analysts to evaluate and compare our results. Any non-GAAP pro forma financial measures should be considered only as supplements to, and not as substitutes for or in isolation from, or superior to, our other measures of financial information prepared in accordance with GAAP, such as net income attributable to QuoteMedia, Inc.

We define and calculate Adjusted EBITDA as net income attributable to QuoteMedia, Inc., plus: 1) depreciation and amortization, 2) stock compensation expense, 3) interest expense, 4) foreign exchange loss (or minus a foreign exchange gain), and 5) income tax expense. We disclose Adjusted EBITDA because we believe it is a useful metric by which to compare the performance of our business from period to period. We understand that measures similar to Adjusted EBITDA are broadly used by analysts, rating agencies, investors and financial institutions in assessing our performance. Accordingly, we believe that the presentation of Adjusted EBITDA provides useful information to investors. The table below provides a reconciliation of Adjusted EBITDA to net income attributable to QuoteMedia, Inc., the most directly comparable GAAP financial measure.

QuoteMedia, Inc. Adjusted EBITDA Reconciliation to Net Income

Year ended December 31,	2022		2021

Net income	$	444,470	$	212,372
Depreciation and amortization		2,121,135		1,640,245
Stock-based compensation		115,625		31,876
Interest expense		2,818		2,641
Foreign exchange loss (gain)		40,307		(107,382	)
Income tax expense		3,056		3,184
PPP loan forgiveness		–		(133,257	)
Adjusted EBITDA	$	2,727,411	$	1,649,679

News Provided by GlobeNewswire via QuoteMedia

Release – QuoteMedia Achieves SOC 2 Type II Certification

Posted on March 24, 2023March 27, 2023 by aweinsoff@channelchek.com

Research News and Market Data on QMCI

PHOENIX, March 24, 2023 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, today announced that it has achieved SOC 2 Type II accreditation.

The SOC 2 Type II accreditation is a rigorous certification that requires companies to demonstrate their ability to securely manage customer data and protect against unauthorized access. The accreditation is awarded to companies that have implemented a comprehensive set of controls and processes to ensure the confidentiality, integrity, and availability of their services.

“We are thrilled to have achieved SOC 2 Type II accreditation, which is a testament to our commitment to providing the highest levels of security and reliability to our customers,” said Dave Shworan, CEO of QuoteMedia Ltd. “As a leading provider of financial market data and solutions, we understand the critical importance of safeguarding our customers’ data, and we take this responsibility very seriously.”

To achieve SOC 2 Type II accreditation, QuoteMedia underwent a demanding audit by an independent third-party auditor. The audit assessed the company’s controls and processes related to security, availability, processing integrity, confidentiality, and privacy. QuoteMedia’s implementation of robust controls and processes is evidence of its dedication to maintaining a secure and reliable environment for customer data.

About QuoteMedia

QuoteMedia Investor Relations
Brendan Hopkins
Email: investors@quotemedia.com
Call: (407) 645-5295

Release – Digerati Technologies’ Subsidiary NextLevel Internet offers Omni-Channel Client Engagement with the Launch of its Contact Center as a Service (CCaaS)

Posted on December 13, 2022December 13, 2022 by aweinsoff@channelchek.com

Research, News, and Market Data on DTGI

December 13, 2022 09:00 ET | Source: Digerati Technologies

SAN ANTONIO, Dec. 13, 2022 (GLOBE NEWSWIRE) — Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a unified communications and cloud services (UCaaS) provider for the small to medium-sized business (SMB) market, today announced the roll-out of a new Contact Center as a Service (CCaaS) solution. This new Omni-Channel CCaaS offering, which will initially be available through Digerati’s subsidiary NextLevel Internet, will enhance the portfolio of solutions the Company is currently offering to the SMB marketplace.

NextLevel’s new intelligent Contact Center suite of services uses a combination of artificial intelligence (AI), workflow automation, virtual agents, intelligent call routing, integrations, reporting, and employee collaboration tools to help businesses reduce costs and improve the customer experience, all without the need to add additional resources. As a cloud-based solution, NextLevel’s Contact Center allows its business users to deliver superior customer care from anywhere.

“This new product further extends our approach of being a single-source solution provider in the UCaaS and CCaaS space,” said Arthur L. Smith, Chief Executive Officer of Digerati. “This latest product announcement enhances our existing call center solution with a truly robust omni-channel contact center solution.”

NextLevel’s new CCaaS solution makes adding, expanding, and integrating various communications channels easier and less resource intensive. In addition to traditional contact center voice functionality, this new omni-channel product that encompasses the next-generation in CCaaS technology supports multiple digital channels, including chat, email, SMS, social media, and other messaging apps.

Derek Gietzen, NextLevel’s President, said, “The new Contact Center product gives businesses of all sizes the advantage of an enterprise-grade cloud contact center solution that is powerful, affordable, and yet easy to deploy. It lets employees focus on delivering a great client experience with every engagement. We are excited about the new revenue and upsell opportunities with this new offering.”

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS solutions for the business market. Through its operating subsidiaries T3 Communications (T3com.com), Nexogy (Nexogy.com), SkyNet Telecom (Skynettelecom.net), and NextLevel Internet (nextlevelinternet.com), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including cloud PBX, cloud telephony, cloud WAN, CCaaS, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the Cloud™. For more information, please visit www.digerati-inc.com and follow DTGI on LinkedIn, Twitter, and Facebook.

Facebook: Digerati Technologies, Inc.
Twitter: @DIGERATI_IR
LinkedIn: Digerati Technologies, Inc.

Investors

ClearThink
Brian Loper
bloper@clearthink.capital
(347) 413-4234

Release – Digerati Technologies Provides Update on its Plan to List on NASDAQ via Business Combination with Minority Equality Opportunities Acquisition Inc.

Posted on December 8, 2022December 8, 2022 by aweinsoff@channelchek.com

Research, News, and Market Data on DTGI

SAN ANTONIO, TX (GlobeNewswire) – December 8, 2022 – Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, is pleased to provide an update to its previously announced signing of a definitive business combination agreement with Minority Equality Opportunities Acquisition Inc. (NASDAQ: MEOA) (“MEOA”).

The Company and MEOA have made significant progress since the business combination agreement was executed on August 30, 2022. Key accomplishments include:

MEOA’s filing of the S-4 registration statement for the business combination on November 30, 2022.
Filing by MEOA of its Charter Amendment approved by the shareholders of MEOA on November 29, 2022.

The transaction results in a $105 million enterprise valuation for Digerati and has been approved by the boards of directors of both of Digerati and MEOA, with an expected closing in the first quarter of CY 2023, subject to shareholder, U.S. Securities and Exchange Commission (“SEC”) and Nasdaq approval. The S-4 registration statement for the business combination is currently under review by the SEC. For further information on the transaction and related filings, please visit the links below.

Minority Equality Opportunities Acquisition Inc. (MEOA) S-4:

Minority Equality Opportunities Acquisition Inc. (MEOA) 8K (Related to the Charter Amendment):

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its operating subsidiaries NextLevel Internet (NextLevelinternet.com) T3 Communications (T3com.com), Nexogy (Nexogy.com), and SkyNet Telecom (Skynettelecom.net), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including, cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the Cloud™.

About Minority Equality Opportunities Acquisition Inc.

Minority Equality Opportunities Acquisition Inc. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, organized under the laws of the Delaware and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with companies that are minority owned, led or founded.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Important Information and Where to Find It

This press release is being made in respect of the proposed business combination transaction involving MEOA and Digerati. As mentioned above, the parties have filed a registration statement on Form S-4 with the SEC, which includes a proxy statement for MEOA and Digerati shareholders and also serves as a prospectus related to offers and sales of the securities of the combined entity. MEOA will also file other documents regarding the proposed transaction with the SEC. A definitive proxy statement/prospectus will also be sent to the stockholders of MEOA and Digerati, seeking required stockholder approval. Before making any voting or investment decision, investors and security holders of MEOA and Digerati are urged to carefully read the entire registration statement and proxy statement/prospectus, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.

In addition, the documents filed with the SEC may be obtained from MEOA’s website at https://www.meoaus.com.

Participants in the Solicitation

MEOA, Digerati and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from stockholders, in favor of the approval of the merger. Information regarding MEOA’s and Digerati’s directors and executive officers and other persons who may be deemed participants in the solicitation may be obtained by reading the registration statement and the proxy statement/prospectus and other relevant documents filed with the SEC when they become available. Free copies of these documents may be obtained as described above.

Forward-Looking Statements

These forward-looking statements include, but are not limited to, statements regarding the terms and conditions of the proposed business combination and related transactions disclosed herein, the timing of the consummation of such transactions, assumptions regarding shareholder redemptions and the anticipated benefits and financial position of the parties resulting therefrom. These statements are based on various assumptions and/or on the current expectations of MEOA or Digerati’s management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of MEOA and/or Digerati. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the amount of redemption requests made by MEOA’s public shareholders; NASDAQ’s approval of MEOA’s initial listing application; changes in the assumptions underlying Digerati’s expectations regarding its future business; the effects of competition on Digerati’s future business; and the outcome of judicial proceedings to which Digerati is, or may become a party.

If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Digerati and MEOA presently do not know or currently believe are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect expectations, assumptions, plans or forecasts of future events and views as of the date of this press release. Digerati and MEOA anticipate that subsequent events and developments will cause these assessments to change. However, while Digerati and/or MEOA may elect to update these forward-looking statements at some point in the future, each of Digerati and MEOA specifically disclaims any obligation to do so, except as required by applicable law. These forward-looking statements should not be relied upon as representing Digerati’s or MEOA (or their respective affiliates’) assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Facebook: Digerati Technologies, Inc.
Twitter: @DIGERATI_IR
LinkedIn: Digerati Technologies, Inc.

Investors

ClearThink
Brian Loper
bloper@clearthink.capital
(347) 413-4234

Release – QuoteMedia Announces 15% Revenue Growth for Q3 2022

Posted on November 10, 2022November 10, 2022 by aweinsoff@channelchek.com

Research, News, and Market Data on QMCI

PHOENIX, Nov. 10, 2022 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, announced financial results for the quarter ended September 30, 2022.

Highlights for Q3 2022 include the following:

Quarterly revenue increased to $4,390,667 in Q3 2022 from $3,818,713 in Q3 2021, an increase of $571,954 (15%).
Gross Margin percentage improved to 52% in Q3 2022, compared to 47% in Q3 2021.
Net income for Q3 2022 was $309,543 compared to $154,931 in Q3 2021, an increase of $154,612.
Adjusted EBITDA for Q3 2022 was $670,145 compared to $539,534 in Q3 2021, an improvement of $130,611.

“We are very pleased with what we accomplished this quarter, and over the year to date,” said Robert J. Thompson, Chairman of the Board. “We have closed several major agreements with high profile clients including two of Canada’s largest banks, with the second contract commencing in November 2022. We achieved record profits this quarter, and we expect to improve upon this moving forward. We anticipate that the pace of our revenue growth will continue in the coming quarters, with the launch of more enterprise deployments and exciting partnerships.

“We have made extensive time and financial investments into operations and infrastructure improvements this year, to ensure we are able to provide the highest levels of service, support and security for our clients, and we expect that these investments will yield dividends in the months and years to come.

“Due to the significant devaluation of the Canadian dollar, we are revising our revenue growth projection for the 2022 year. A substantial number of our contracts (and new contracts) are denominated in Canadian dollars, and this is re-measured into US Dollars when reporting our financial results. We are now projecting a 16% revenue growth for 2022, down from 19%. This will not have a meaningful impact on our bottom-line profitability, as our Canadian dollar revenue and expenses are almost equal. In fact, we anticipate significantly increased profitability in upcoming quarters.”

QuoteMedia will host a conference call Thursday, November 10, 2022 at 2:00 PM Eastern Time to discuss the Q3 2022 financial results and provide a business update.

Conference Call Details:

Date: November 10, 2022

Time: 2:00 PM Eastern

Dial-in number: 800 445-7795; 203-518-9843

Conference ID: QUOTEMEDIA

An audio rebroadcast of the call will be available later at: www.quotemedia.com

About QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Bank of Montreal (BMO), Broadridge Financial Systems, JPMorgan Chase, Scotiabank, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, IA Private Wealth, Ally Invest, Inc., Suncor, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Equisolve, Stock-Trak, Mergent, Cision, Warrior Trading and others. Quotestream®, QMod ^TMand Quotestream Connect ^TMare trademarks of QuoteMedia. For more information, please visit www.quotemedia.com .

Below are the specific forward-looking statements included in this press release:

We achieved record profits this quarter, and we expect to improve upon this moving forward. We anticipate that the pace of our revenue growth will continue in the coming quarters, with the launch of more enterprise deployments and exciting partnerships.
Due to the significant depreciation of the Canadian dollar, we are revising our revenue growth projection for the 2022 year. A substantial number of our contracts (and new contracts) are denominated in Canadian dollars, and this is re-measured into US Dollars when reporting our financial results. We are now projecting a 16% revenue growth for 2022, down from 19%. This will not have a meaningful impact on our bottom-line profitability, though, as our Canadian dollar revenue and expenses are almost equal. In fact, we anticipate significantly increased profitability in upcoming quarters.

QuoteMedia Investor Relations
Brendan Hopkins
Email: investors@quotemedia.com
Call: (407) 645-5295

Note 1 on Non-GAAP Financial Measures

QuoteMedia, Inc. Adjusted EBITDA Reconciliation to Net Income

	Three months ended September 30,
	2022			2021

Net income	$	309,543			$	154,931
Depreciation and amortization		545,076				432,051
Stock-based compensation		(82,888	)			6,939
Interest expense (income), net		(10	)			101
Foreign exchange gain		(102,327	)			(55,278	)
Income tax expense		751				790
Adjusted EBITDA	$	670,145			$	539,534

News Provided by GlobeNewswire via QuoteMedia

Release – Digerati Announces Appointment of Derek Gietzen to President

Posted on October 3, 2022October 3, 2022 by aweinsoff@channelchek.com

Research, News, and Market Data on DTGI

SAN ANTONIO, October 3, 2022 (GLOBE NEWSWIRE) Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, today announced that Derek Gietzen has been named as the Company’s President. Currently, Mr. Gietzen is President of NextLevel Internet (“NextLevel”), a Digerati subsidiary.

Mr. Gietzen is an experienced 20-year telecommunications executive with a track record of managing successful high-growth companies. In addition to achieving consistent double-digit growth at NextLevel, Mr. Gietzen’s passion for creating amazing corporate cultures led NextLevel to be recognized as a certified ‘Great Place to Work in the U.S’, for each of the last three years.

“Since our acquisition of NextLevel earlier this year, Derek has been instrumental in the operational integration of Digerati’s various subsidiaries,” said Arthur L. Smith, Chief Executive Officer. “Derek is an inspirational leader who perfectly aligns with our core values and brings the added skills necessary to successfully execute our business plan and ongoing M&A strategy. We are confident his contribution will enhance our ability to deliver on our corporate goals and assist us with creating long-term shareholder value.”

“This is an exciting time for Digerati, and I am thrilled to be taking on the role of President of the combined operations,” said Derek Gietzen. “We have an amazing leadership team, and I look forward to all we can accomplish.”

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) provides cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its operating subsidiaries NextLevel Internet (NextLevelinternet.com), T3 Communications (T3com.com), Nexogy (Nexogy.com), and SkyNet Telecom (Skynettelecom.net), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including, cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the Cloud™. For more information, please visit www.digerati-inc.com and follow DTGI on LinkedIn, Twitter, and Facebook.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the applicable securities laws. Forward-looking statements generally are accompanied by words such as “confident,” “accomplish,” “enhance,” “ability,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements like ‘we are confident his contribution will enhance our ability to deliver on our corporate goals and assist us with creating long-term shareholder value,’ are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Digerati. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to general economic, financial, legal, political and business conditions and changes in domestic and foreign markets.

Facebook: Digerati Technologies, Inc.
Twitter: @DIGERATI_IR
LinkedIn: Digerati Technologies, Inc.

Investors
ClearThink
Brian Loper
bloper@clearthink.capital
(347) 413-4234