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Monday, October 18, 2021

Pareteum Corp (OTCMKTS: TEUM) Hits the OTCQB With a Bang

Pareteum Corp (OTCMKTS: TEUM) has been moving upwards in recent trading ever since hitting all-time lows of $0.2899 shortly after being delisted to the pinks from the NASDAQ national market. Pareteum saw its stock delisted due to the Company’s inability to file any 10Q’s or Ks since early 2019. According to TEUM management it is the Company’s firm intent to relist on Nasdaq or another national securities exchange at the earliest opportunity.

Penny stock speculators are accumulating TEUM as they know these ex big boards love to make big moves once they hit the OTCBB. According to TEUM management: “despite this week’s disappointing news, we have achieved many positive milestones including substantially restructuring our management team and board of directors, adding and activating new customers, continuing to build out the wider Pareteum team and implementing additional governance best practices oversight and control measures. Our products today have significant traction in the market and we are seeing continued momentum, despite the unexpected impacts of the Covid-19 pandemic this year. Over the past year we have successfully raised $20.4 million in additional capital and our cash position remains adequate. Additionally, we are in close communication with our senior lender.”

Pareteum Corp (OTCMKTS: TEUM) operating out of New York City is a provider of Communications Platform as a Service solutions provider. Pareteum empowers enterprises, communications service providers, early stage innovators, developers, IoT, and telecommunications infrastructure providers with the freedom and control to create, deliver and scale innovative communications experiences. The Pareteum platform connects people and devices around the world using the secure, ubiquitous, and highly scalable solution to deliver data, voice, video, SMS/text messaging, media, and content enablement. The Company is focused on empowering every person and every “thing” to be globally connected – ANY DEVICE, ANY NETWORK, ANYWHERE ™. The Pareteum cloud communications platform targets large and growing sectors from IoT, Mobile Virtual Network Operators (MVNO), Smart Cities, and Application developer markets – each in need of mobile platforms, management and connectivity. These sectors need Communications-Platform-as-a-Service (CPaaS), which Pareteum delivers. Our solutions have received industry acclaim.

The Company’s mission is to create an easily accessible open mobility system for the world. The Company believes that open software and interfaces for mobility and applications will create more innovation, economic freedom, and opportunity equality worldwide, just like the internet did for information. The vast majority of the Company’s  platform is comprised of its  self-developed software and intellectual property, which provides its  customers with a great deal of flexibility in how they use the Company’s products now and in the future and allows it to be market driven in its future.

Pareteum has approximately 40 patents granted in relation to techniques and processes which support its cloud software and communications platform solutions. The Company’s platform services partners (technologies integrated into our cloud) include: HPE, IBM, Sonus, Oracle, Microsoft, NetNumber, Affirmed and other world class technology providers.

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On November 10 TEUM announced a letter to shareholders from its management team. Management commented on the recent delisting of Pareteum’s common stock from Nasdaq due to the Company’s inability to file any 10Q’s or Ks since early 2019. It is the Company’s firm intent to complete the restatements, and relist on Nasdaq or another national securities exchange at the earliest opportunity. The Company is in in the process of filing all restated financial information as well as its outstanding 10Q’s and K’s on or before December 31, 2020. The delay was caused by a comprehensive internal investigation which is now nearing completion, and tremendous progress has been made.

TEUM management states: “We believe that the fundamentals of our business are strong and we are focused on executing on our product roadmap including the introduction of new features on our platform and helping our customers scale and deliver a combination of mobility, customer engagement, and messaging services. We continue to see strong interest in our offerings, and we are adding new partners and subscribers to the platform globally, while expanding our footprint within our existing customer base. The Company’s leadership remains focused on operationally and financially running the company and, more importantly, working diligently to drive our strategy forward and capitalize on the global growth opportunities.”

TEUM management continued: “We announced this summer our expanded partnership with Liberty Global, a multinational telecommunications company, to build a pan-European Voicemail platform. Leveraging the Pareteum Experience Cloud Voicemail solution, Liberty Global’s new platform will be available to its entire European customer base. Our voicemail solution will provide Liberty Global with the flexibility and scalability to deliver their services and is the next step in our long-standing relationship. Earlier this year, we extended and expanded our contract with Vodafone to provide it with increased operational control over certain legacy hardware assets, together with a long-term license to use our proprietary solutions in Spain, as well as ensuring that Pareteum remains the exclusive provider of the managed services needed to operate the platform through at least 2023. We believe that this is another strong example of how Pareteum enables communications leaders to deliver connectivity services under one platform on a global basis, and we look forward to continuing our relationship with Vodafone. In September, we announced our partnership with Strattner Technologies to launch the Strattner Voice brand, a GSM cellular network complementing its satellite communications network Strattner.Space. Strattner will utilize Pareteum’s Experience Cloud platform to enter the mobile communications market with the mission to reconnect Americans with their friends, family and business associates both in the US and across the world, in these pandemic times.  This partnership demonstrates that the Pareteum Experience Cloud provides the flexibility and scalability to power a diverse range of services that will enable Strattner to enter the mobile communications market. Also in September, we launched Pareteum SmartSIM, a multi-country, multi-network cellular data connectivity solution for IoT and mobile broadband use cases.  SmartSIM is a single SIM solution that works across a global footprint for cellular data connectivity on 3G/4G/LTE-M and NB-IoT networks. The solution facilitates seamless inventory management and logistics and can be fully managed and controlled remotely with a setup that provides the best connectivity experience irrespective of where it is used globally.”

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Currently trending upwards since hitting all-time lows of $0.2899 shortly after being delisted to the pinks from the NASDAQ national market. TEUM saw its stock delisted due to the Company’s inability to file any 10Q’s or Ks since early 2019. According to TEUM management it is the Company’s firm intent to relist on Nasdaq or another national securities exchange at the earliest opportunity. Penny stock speculators are accumulating TEUM as they know these ex big-boards love to make big moves once they hit the OTCBB. According to TEUM management: “despite this week’s disappointing news, we have achieved many positive milestones including substantially restructuring our management team and board of directors, adding and activating new customers, continuing to build out the wider Pareteum team and implementing additional governance best practices oversight and control measures. Our products today have significant traction in the market and we are seeing continued momentum, despite the unexpected impacts of the Covid-19 pandemic this year. Over the past year we have successfully raised $20.4 million in additional capital and our cash position remains adequate. Additionally, we are in close communication with our senior lender.” According to their last 10k filed back in March 2019, Pareteum did $32,435,736 in revenues for fiscal 2018. We will be updating on TEUM when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TEUM.

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