Today, SpeedConnect is one of the nation’s largest rural wireless broadband Internet providers which serves approximately 17,000 residential and commercial wireless broadband Internet customers, in Arizona, Idaho, Illinois, Iowa, Michigan, Montana, Nebraska, South Dakota and Texas. SpeedConnect is a Broadband Wireless Access (BWA) provider, now a subsidiary of TPTG. SpeedConnect also resells third-party satellite Internet, DSL Internet, IP telephony and DISH TV products. SpeedConnect’s primary business model is subscription based, monthly reoccurring revenues, from wireless delivered, high-speed Internet connections utilizing its company built and owned national network. Pro forma operating loss for the three months ended Mawould be $816,827 or $493,866 lower than the actual operating loss of $1,310,693. The Pro Forma financial information filed with it’s Form 8-K/A reflected that had the acquisition of a majority of the assets of SpeedConnect occurred January 1, 2018, the proforma operating loss for the year ended Decemwould have been $1,674,828 or $3,469,989 lower than the actual loss of $5,144,817. On and reported Under Item 1.01 on Form 8-K/A dated May 8, 2019, the Company closed the transaction underlying the Asset Purchase Agreement dated with SpeedConnect.
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