Cordia Announces Letter of Intent for Sale of CLEC Assets
May 02 2011 - 4:44PM
Business Wire
Cordia Corporation (OTCBB: CORG), a global communications
service provider and distributor of landline and Voice over
Internet Protocol (“VOIP”) technologies, products and services,
announced that it has entered into an a binding letter of intent
for the sale of its CLEC assets, which include the assets of Cordia
Communications, Corp., Cordia Communications of Virginia, My Tel
Co, Inc., and Northstar Telecom Inc. To accomplish the sale of the
assets, each of these entities filed a voluntary petition in the
United States Bankruptcy Court in the Middle District of Florida
under chapter 11 of the Bankruptcy Code on May 1, 2011.
Kevin Griffo, President and CEO of Cordia stated, “We are
optimistic about the opportunities associated with the sale of the
CLEC assets and believe that we will emerge from the reorganization
with a stronger balance sheet. We have a strong and loyal customer
base and we will continue to offer quality telecommunications and
customer service coupled with a focus on our sales efforts and
continued growth."
About Cordia Corporation
Cordia Corporation, through its operating subsidiaries, Cordia
Communications Corp., CordiaIP Corp., My Tel Co, Inc., Northstar
Telecom, Inc., Cordia Prepaid Corp., and Cordia International Corp.
offers business, residential, and wholesale customers local and
long distance telecommunications services in more than sixty (60)
countries utilizing traditional wireline and Voice over Internet
Protocol (“VoIP”) technologies. In addition, Cordia develops and
provides a suite of proprietary web-based billing software and
outsourced services to local, long distance and VoIP
telecommunications providers.
Safe Harbor
This release contains forward-looking statements that involve
risks and uncertainties. Cordia's actual results may differ
materially from the results discussed in the forward-looking
statements. Factors that might cause such a difference include,
among others, availability of management; availability, terms, and
deployment of capital; Cordia's ability to successfully market its
services to current and new customers, generate customer demand for
its product and services in the geographical areas in which Cordia
can operate, access new markets, all in a timely manner, at
reasonable cost and on satisfactory terms and conditions, as well
as regulatory, legislative and judicial developments that could
cause actual results to vary in such forward-looking
statements.
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