NEW YORK, March 26, 2020 /PRNewswire/ -- Pareteum
Corporation (Nasdaq: TEUM), a cloud communications platform
company, continues to deliver communications, mobility, and
intelligence services for its customers and provide support to its
global employee base during this unprecedented and challenging
time. Due to circumstances related to the coronavirus and the
increasing need for a fully virtual workforce, Pareteum's customers
are seeing substantial growth in demand for wireless
connectivity. The Pareteum platform continues to deliver
mobility and connectivity services and was engineered to support
and perform in an increasingly virtual world.
During this extraordinary time of virtual workplace dependence,
Pareteum is experiencing higher demand for increased throughput
across its platform, particularly in Europe. As Pareteum's
customers continue to scale their networks to manage this
increasing demand, the Company is supporting their needs through
software and connectivity services, and the platform is responding
well to the uptick in demand.
Pareteum is closely supporting its employee base, including many
located in Europe. At this time all Pareteum employees are
working remotely.
"Our first priorities are the health and safety of our employees
and customers, and we are completely focused on delivering value to
our customers during this unprecedented time," said Bart
Weijermars, Interim Chief Executive Officer of Pareteum.
"Pareteum's platform enables our customers to reliably deliver
connectivity services as they scale to meet the growing demand of a
virtual global workforce."
Pareteum also announced that the Pareteum Experience Cloud was a
product of the year winner in the 21st Annual INTERNET TELEPHONY
Product of the Year Awards. The award recognizes and honors
companies that have developed exceptional VoIP and IP
Communications products and services.
About Pareteum Corporation:
Millions of people and
devices are connected around the world using Pareteum's Global
Cloud Communications Platform, enhancing their mobile experience.
Pareteum unleashes the power of applications and mobile services,
bringing secure, ubiquitous, scalable, and seamlessly available
voice, video, SMS/text messaging, and data, media and content
enablement to our customers, making worldwide communications
services easily and economically accessible to everyone. By
harnessing the value of our cloud communications platform, Pareteum
serves enterprises, communications service providers, early stage
innovators, developers, IoT, and telecommunications infrastructure
providers. Pareteum envisions a new mobile communications
experience, imagining what is to come, while delivering now.
Pareteum currently has offices in North
America, South America,
Spain, Bahrain, Singapore, India, Indonesia, Germany, Belgium, United
Kingdom, Russia, and
the Netherlands. For more
information please visit: www.pareteum.com.
Forward Looking Statements: Certain statements contained
herein constitute "forward-looking statements" as defined by the
Private Securities Litigation Reform Act of 1995. Such statements
may include, without limitation, statements with respect to
Pareteum's plans and objectives, projections, expectations and
intentions. These forward-looking statements are based on current
expectations, estimates and projections about Pareteum's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual
results and performance of Pareteum may differ materially from the
results expressed or implied by such forward-looking statements.
These risks include, among other things (1) the Company's ability
to complete the offering as described herein, (1) the ability to
complete the restatement of the affected financial statements and
address any material weaknesses, the timing of the completion of
necessary restatements, interim reviews and audits by the Company's
independent registered public accounting firm, (2) risks relating
to the substantial costs and diversion of personnel's attention and
resources deployed to address the restatement of the affected
financial statements and internal control matters, (3) the
risk of litigation or regulatory action arising from the
restatement of the affected financial statements, (4) the timing of
the review by, and the conclusions of, the Company's independent
auditor regarding the restatement, (5) the ability of the Company
to remediate any material weaknesses in internal control over
financial reporting, (6) potential reputational damage that the
Company may suffer as a result of the restatement of the affected
financial statements, (7) the impact of the restatement of the
affected financial statements on the value of the Company's common
stock, and (8) the risk that the filing of the restatement of the
affected financial statements will take longer than anticipated.
Given these risks and uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements. Unless
otherwise required by law, Pareteum also disclaims any obligation
to update its view of any such risks or uncertainties or to
announce publicly the result of any revisions to the
forward-looking statements made here. Additional information
concerning certain risks and uncertainties that could cause actual
results to differ materially from those projected or suggested in
Pareteum's filings with the Securities and Exchange Commission,
copies of which are available from the SEC or may be obtained upon
request from Pareteum Corporation.
Media Inquiries:
Press@pareteum.com
Investor Relations Contact:
+1 646-975-0400
Investor.relations@pareteum.com
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SOURCE Pareteum Corporation