Thursday, August 31, 2000
ATSI Confirms Date For Distribution of GlobalSCAPE Shares
SAN ANTONIO, TEXAS -- American TeleSource International,
Inc. "ATSI" (AMEX: AI) announced today
that its Board of Directors has authorized the distribution of approximately
30% of ATSI’s ownership in GlobalSCAPE, Inc., its Internet software
subsidiary, to ATSI’s stockholders. The distribution will occur on Tuesday,
September 12, 2000.
Stockholders of record will receive one share of GlobalSCAPE common stock
for each 20 shares of ATSI owned on July 14, 2000. Any fractional shares
will be rounded up to the next whole share. Along with the shares, each
stockholder of record will receive an Information Statement, which was filed
by GlobalSCAPE with the Securities and Exchange Commission (SEC) on Form 10
in connection with the distribution. The Information Statement contains,
among other things, a description of GlobalSCAPE’s business, historical
financial statements, a discussion of the potential tax consequences of the
distribution, and a discussion of the transferability of the GlobalSCAPE
ChaseMellon Shareholder Services L.L.C. will serve as the GlobalSCAPE
transfer agent. Stockholders of record who hold their ATSI stock in a
brokerage account should receive their distribution and the Information
Statement via their broker. Registered stockholders of record, who do not
hold their ATSI stock in a brokerage account, should receive their
distribution and Information Statement directly through the mail.
Any inquiries related to the distribution should be directed to Karen Mella,
Vice President Investor Relations for ATSI, at 210-547-1007.
GlobalSCAPE recently filed its initial Form 10Q with the SEC in which it
reported operating results for the three and six month periods ended June
30, 2000. For the six month period ended June 30, 2000, GlobalSCAPE
reported revenues of approximately $3.0 million, income from operations of
approximately $955,000 and net income of approximately $602,000, or $0.05
per common share outstanding.
GlobalSCAPE, Inc. (www.globalscape.com), is a leader
in the development, marketing, distribution and support of award winning
Internet-based software in a variety of categories including file
management, multimedia utilities and Web site development tools targeting
both business and consumer markets.
American TeleSource International, Inc. is an emerging international carrier
serving the rapidly expanding niche markets in and between Latin America and
the United States. The Company’s borderless strategy includes the
deployment of a “next generation” network for more efficient and cost
effective service offerings of domestic and international voice and data.
ATSI has clear advantages over the competition through its corporate
framework consisting of unique licenses, interconnection and service
agreements, network footprint, and extensive retail distribution.