Info from TVCP's 10-KSB:
In July 2000, we purchased, through a wholly owned subsidiary, the assets of 11 retail telephone call shop stores operating in the New York City/New Jersey market. This acquisition added 45 employees to our organization and approximately three million dollars in annual revenue.
In 2001, among other things, Talk Visual
o Decided to sell all non-telecommunications assets consisting primarily of the real estate properties held in Toronto, Canada and in Sacramento, California. As a result, all results relating to real estate activities are treated as "Discontinued Operations";
o Closed or sold all retail shops except for the 11 shops located in New York City/New Jersey general market;
o Terminated all joint venture partnerships in Europe, Israel, Canada, Asia and South America;
o Focused on delivering telecommunication services to the Latin expatriate market in key areas such as South Florida and New York;
o Purchased a telecommunication switch and peripheral equipment at our headquarters in Miami to effectively and efficiently deliver telecommunication services to our existing and future customers; and
o Began targeting key business and residential customers with a heavy concentration of telecommunication traffic to key countries in Latin and South America.
Currently, revenues are primarily generated from the reselling of long distance services. The majority of our revenue comes from our company-owned stores in the New York City/New Jersey market. Additionally, we sell long distance services to call shops in the greater Miami area and telephone call shops within economical transport range to our frame relay systems in the New York City/New Jersey market. |
