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This article originally appeared on Financial Buzz.
TPT Global Tech, Inc. (OTCQB: TPTW) announced today it has completed its $1.75M Asset acquisition of SpeedConnect LLC (“SpeedConnect”) and the assumption of certain liabilities. The Asset Purchase Agreement required a deposit of $500,000, paid as part of entering into the Asset Purchase Agreement and an additional $500,000 paid at closing. In addition, at the time of closing, the Company entered into a Promissory Note to pay SpeedConnect $1,000,000 in two equal installments of $500,000 plus applicable interest at 10% per annum with the first installment payable within 30 days of closing and the second installment payable within 60 days of closing. The Company paid a one lump sum of $750,000 USD and received a $250,000 discount off the remaining $1,000,000 USD Notes Payable to close out the SpeedConnect asset acquisition.
SpeedConnect was founded in 2002 by its CEO John Arthur Ogren and is in its 17th year of operations as a national, predominantly rural, wireless telecommunications residential and commercial Internet Service Provider (ISP). SpeedConnect.com. SpeedConnect’s primary business model is subscription based, monthly reoccurring revenues, from wireless delivered, high-speed Internet connections utilizing its company built and owned national network. SpeedConnect also resells third-party satellite Internet, DSL Internet, IP telephony and DISH TV products. Mr. Ogren will stay on as the CEO of SpeedConnect for TPTG for the next two years.
SpeedConnect is a privately-held Broadband Wireless Access (BWA) provider. Today, SpeedConnect is one of the nation’s largest rural wireless broadband Internet providers which serves approximately 19,000 residential and commercial wireless broadband Internet customers, in Arizona, Idaho, Illinois, Iowa, Michigan, Montana, Nebraska, South Dakota and Texas.
The synergies with TPTG are impressive. The SpeedConnect asset acquisition provides a complete back office, with a billings and collections machine for all products the new combined enterprise may choose to sell, service, warehouse, or deliver. With a TPTG cash infusion, and the SpeedConnect’s 5G deployments across 10 Midwestern States, the new combined enterprise is perfectly positioned to grow its national footprint to 250,000 customers, and hold first place as the nation’s best choice for bridging the digital divide to heartland rural America.
“The strategic decision to close the Speedconnect acquisition early has a positive direct affect on our TPTW Financial statement and accelerates our campaign to launch 5G Technology to rural America and set the stage for TPTG to deliver TV, Internet, Media Content and Phone services across 10 Midwestern states utilizing our proprietary telecom infrastructure and mobile media delivery broadcast platform at the same time creates an opportunity for the company to up list to a major exchange ” said Stephen Thomas CEO TPTG.
This press release contains “forward-looking statements” within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as “believes,” “looking ahead,” “anticipates,” “estimates” and other terms with similar meaning. Specifically, statements about the Company’s plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings and pursuit of new markets are forward looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
About TPT Global Tech
TPT Global Tech Inc. (OTCQB: TPTW) based in San Diego, California, is a Technology/Telecommunications Media Content Hub for Domestic and International syndication and also provides Technology solutions to businesses domestically and worldwide. TPT Global offers Software as a Service (SaaS), Technology Platform as a Service (PAAS), Cloud-based Unified Communication as a Service (UCaaS) and carrier-grade performance and support for businesses over its private IP MPLS fiber and wireless network in the United States. TPT’s cloud-based UCaaS services allow businesses of any size to enjoy all the latest voice, data, media and collaboration features in today’s global technology markets. TPT’s also operates as a Master Distributor for Nationwide Mobile Virtual Network Operators (MVNO) and Independent Sales Organization (ISO) as a Master Distributor for Pre-Paid Cellphone services, Mobile phones Cellphone Accessories and Global Roaming Cellphones.
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The letter was delivered in response to the department’s request for information regarding the disclosure of confidential wage records under the department’s regulations governing the confidentiality and disclosure of state unemployment compensation data. Strada also included specific recommendations for regulatory amendments.
Report indicates both success and need for improvement in meeting students’ varied goals
A new and improved Free Application for Federal Student Aid expected late this year should provide opportunities for more students and their families to access money to pay for college. Yet the transition to this new form presents unprecedented challenges for those who work to help students complete it.
According to new Strada Education Foundation research, community college attendees who complete an associate degree or successfully transfer to a four-year institution value their education at rates comparable to or higher than recent bachelor’s degree completers. However, researchers found first-generation students rated the value of their community college education about 20 percentage points lower than those who are not first-generation students.
Eloy Ortiz Oakley, president and CEO of College Futures Foundation and former chancellor of the California Community Colleges, will join a Strada Education Foundation webinar Sept. 7, when he and other panelists will explore Strada’s latest report, “The Value of Community Colleges: Recent Students' Motivations and Outcomes,” which captures several factors that motivated recent alumni to enroll in community college.
Major changes in the form, combined with an expected delay in its release, are combining to intensify the work of spreading the word about the updated FAFSA.
This article by Madeline St. Amour originally appeared in Inside Higher Ed.
Virginia’s largest community college and a prominent public research university have co-partnered with an educational management and student support service provider to improve academic outcomes for transfer students.
Edtech integration can cause headaches if technology solutions aren't "getting along"--but a new free tool could help alleviate that pain
New building will house over 500 employees
DXtera Institute, a nonprofit consortium of higher ed institutions, ed tech companies and other postsecondary education professionals, has released a free Next Generation Integration Scorecard (NGIS) aimed at improving technology integration in higher education.
Massachusetts will be the recipient of financial and technical help to build “data-driven approaches” to linking residents to jobs in growing industries, thanks to a partnership between the National Governors Association and the Strada Education Network.
This article by Carol D’Amico originally appeared on RealClear Education.
This article by Jeffrey J. Selingo originally appeared on the Washington Post.
The letter alerting Cal State Northridge students that they were being put on academic probation was pretty blunt and scary: shape up or risk getting kicked out.
Michigan State University has long worked with and competed against other colleges and universities in the United States.
One of the students leaving today on “Roadtrip Indiana” says she expects an “awakening” of what Indiana is about. Purdue University senior Shannon Newerth is joining two other Indiana students on a two-week RV trip throughout the state to take part in career exploration and work-based learning opportunities. The trip, organized in part by the Indiana Commission for Higher Education and several private partners, will be the subject of an upcoming public television documentary.
As a lifelong baseball fan, former high school baseball player, and coach for 20 years, I have always been struck by how deeply intertwined baseball and learning really are. An education advocate for most of my career, I have seen firsthand how a passion for sports can shift mindsets and create sustainable pathways to college, meaningful careers, and inspired lives.
More than half of adults in the U.S. would change at least one aspect of their higher education experience, according to a new survey from Gallup and the Strada Education Network. Common regrets were choice of institution and major or field of study. Comparatively, relatively few regretted their degree type.
A majority of Americans who attended college say they received a quality education. But half would change at least one of these three decisions if they could do it all over again: the type of degree they pursued or their choice of major or institution.
CLEVELAND, Ohio – Half of college graduates regret their choice of school or major, according to a national survey.
Approximately half of all U.S. adults who pursued or completed a postsecondary degree would change at least one aspect of their education experience if they could do it all over again, including their major or field of study, the institution they attended, or the type of degree they obtained.
Regrets, I’ve had a few…and so have most Americans — at least when it comes to decisions they’ve made regarding their education. A new Gallup poll out today finds that 51 percent of Americans would change at least one of their education decisions if they had to do it all over again. Thirty-six percent said they’d choose a different major, 28 percent would attend a different school and 12 percent would pursue a different type of degree, according to the poll.
On May 2, the Senate Career and Technical Education Caucus in conjunction with the Alliance for Excellent Education hosted “College and Career Pathways: Stories of Innovation.” The Alliance is a Washington, D.C.-based advocacy organization focusing on high school redesign for underrepresented students. The briefing revolved around “highlighting innovative approaches across the country to college and career pathways that have led to positive outcomes for traditionally underserved students.”
Data analytics has proven to be a powerful tool in a number of industries, and in higher ed, it has significant potential to help institutions streamline operations and improve experiences for students. But in using that data, colleges and universities must also be careful to also consider the underlying causes behind some of those numbers.
This is important news for admissions officers, who may feel that low-income students pose more of a risk at a four-year college or university. These students are just as capable of thriving as those from more affluent households, but institutions and policymakers must also consider that they may need more resources.
In a Monday morning session at the ASU+GSV Summit in Salt Lake City, a panel of thought leaders discussed how to expand access and success, particularly among low-income, first-generation and underrepresented student populations.
INDIANAPOLIS — Higher Education Commissioner Teresa Lubbers recently announced a new initiative, “Roadtrip Indiana,” that aims to help Hoosier students make more informed decisions about their futures through intentional career exploration and direct engagement with employers across the state.