MONTREAL, Feb. 9 /PRNewswire-FirstCall/ -- TeliPhone Corp. (OTCBB: TLPH). TeliPhone reports that it has successfully negotiated with its primary creditors for the conversion of most of its debt to shares of the common stock of the Company. All conversions occurred at a per share valuation of $0.25. "The debt conversion demonstrates the confidence that our creditors have in the current and future performance of the company. We now become better positioned to work with our future financing partners having significantly strengthened our balance sheet", says George Metrakos, the Company's CEO. The company will disclose the detailed impact of the conversion in the public filing of its quarterly financial statements with the SEC on form 10-Q, anticipated shortly. About TeliPhone Corp. TeliPhone Corp. is an Internet-based digital telecommunications company employing its own technology. Customers of TeliPhone, primarily small and medium sized businesses, receive more value added services for lower cost when using TeliPhone. TeliPhone specializes in hosted business telephony systems that reduce customer capital equipment costs while offering global incoming and outgoing call services with best-of-breed call quality. For more information, visit the company website at http://www.teliphone.us/. This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change. DATASOURCE: Teliphone Corp. CONTACT: TeliPhone Corp., (212) 738-0008, ; http://www.teliphone.ca/investors; Source: TeliPhone Corp.

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