Intrinsic value of Pareteum - TEUM

Previous Close

$2.04

  Intrinsic Value

$0.06

stock screener

  Rating & Target

str. sell

-97%

Previous close

$2.04

 
Intrinsic value

$0.06

 
Up/down potential

-97%

 
Rating

str. sell

We calculate the intrinsic value of TEUM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  47.10
  42.89
  39.10
  35.69
  32.62
  29.86
  27.37
  25.14
  23.12
  21.31
  19.68
  18.21
  16.89
  15.70
  14.63
  13.67
  12.80
  12.02
  11.32
  10.69
  10.12
  9.61
  9.15
  8.73
  8.36
  8.02
  7.72
  7.45
  7.20
  6.98
Revenue, $m
  20
  28
  40
  54
  71
  93
  118
  148
  182
  220
  264
  312
  364
  422
  483
  549
  620
  694
  773
  855
  942
  1,032
  1,127
  1,225
  1,328
  1,434
  1,545
  1,660
  1,779
  1,904
Variable operating expenses, $m
  50
  71
  99
  134
  178
  231
  295
  369
  454
  551
  659
  779
  911
  1,054
  1,208
  1,373
  1,549
  1,736
  1,932
  2,138
  2,355
  2,581
  2,817
  3,063
  3,319
  3,585
  3,862
  4,150
  4,449
  4,759
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  50
  71
  99
  134
  178
  231
  295
  369
  454
  551
  659
  779
  911
  1,054
  1,208
  1,373
  1,549
  1,736
  1,932
  2,138
  2,355
  2,581
  2,817
  3,063
  3,319
  3,585
  3,862
  4,150
  4,449
  4,759
Operating income, $m
  -30
  -43
  -59
  -81
  -107
  -139
  -177
  -221
  -272
  -331
  -396
  -468
  -547
  -632
  -725
  -824
  -930
  -1,041
  -1,159
  -1,283
  -1,413
  -1,549
  -1,690
  -1,838
  -1,991
  -2,151
  -2,317
  -2,490
  -2,669
  -2,856
EBITDA, $m
  -28
  -40
  -56
  -75
  -100
  -130
  -166
  -207
  -255
  -309
  -370
  -438
  -512
  -592
  -679
  -771
  -870
  -975
  -1,085
  -1,201
  -1,323
  -1,450
  -1,582
  -1,720
  -1,864
  -2,014
  -2,169
  -2,331
  -2,499
  -2,673
Interest expense (income), $m
  1
  1
  5
  12
  20
  31
  45
  61
  81
  104
  130
  160
  193
  230
  271
  315
  362
  413
  467
  525
  585
  649
  715
  785
  858
  934
  1,012
  1,094
  1,180
  1,268
  1,360
Earnings before tax, $m
  -31
  -48
  -71
  -101
  -138
  -184
  -238
  -302
  -376
  -460
  -555
  -661
  -777
  -903
  -1,040
  -1,186
  -1,343
  -1,509
  -1,684
  -1,868
  -2,062
  -2,264
  -2,475
  -2,696
  -2,925
  -3,164
  -3,412
  -3,670
  -3,938
  -4,216
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -31
  -48
  -71
  -101
  -138
  -184
  -238
  -302
  -376
  -460
  -555
  -661
  -777
  -903
  -1,040
  -1,186
  -1,343
  -1,509
  -1,684
  -1,868
  -2,062
  -2,264
  -2,475
  -2,696
  -2,925
  -3,164
  -3,412
  -3,670
  -3,938
  -4,216

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  27
  39
  54
  73
  97
  126
  160
  201
  247
  300
  359
  424
  496
  574
  658
  747
  843
  945
  1,051
  1,164
  1,282
  1,405
  1,533
  1,667
  1,806
  1,951
  2,102
  2,258
  2,421
  2,590
Adjusted assets (=assets-cash), $m
  27
  39
  54
  73
  97
  126
  160
  201
  247
  300
  359
  424
  496
  574
  658
  747
  843
  945
  1,051
  1,164
  1,282
  1,405
  1,533
  1,667
  1,806
  1,951
  2,102
  2,258
  2,421
  2,590
Revenue / Adjusted assets
  0.741
  0.718
  0.741
  0.740
  0.732
  0.738
  0.738
  0.736
  0.737
  0.733
  0.735
  0.736
  0.734
  0.735
  0.734
  0.735
  0.735
  0.734
  0.735
  0.735
  0.735
  0.735
  0.735
  0.735
  0.735
  0.735
  0.735
  0.735
  0.735
  0.735
Average production assets, $m
  10
  14
  19
  26
  34
  44
  56
  71
  87
  106
  126
  149
  175
  202
  232
  263
  297
  333
  370
  410
  451
  495
  540
  587
  636
  687
  740
  795
  852
  912
Working capital, $m
  -6
  -9
  -13
  -17
  -23
  -30
  -38
  -48
  -58
  -71
  -85
  -100
  -117
  -136
  -156
  -177
  -200
  -224
  -249
  -275
  -303
  -332
  -363
  -395
  -427
  -462
  -497
  -534
  -573
  -613
Total debt, $m
  5
  11
  19
  29
  41
  56
  74
  94
  118
  146
  176
  210
  247
  287
  330
  377
  426
  478
  533
  591
  652
  716
  782
  851
  923
  998
  1,075
  1,156
  1,240
  1,327
Total liabilities, $m
  14
  20
  28
  38
  50
  65
  83
  104
  128
  155
  185
  219
  256
  296
  339
  386
  435
  487
  543
  601
  661
  725
  791
  860
  932
  1,007
  1,085
  1,165
  1,249
  1,337
Total equity, $m
  13
  19
  26
  35
  47
  61
  78
  97
  120
  145
  174
  205
  240
  278
  318
  362
  408
  457
  509
  563
  620
  680
  742
  807
  874
  944
  1,017
  1,093
  1,172
  1,254
Total liabilities and equity, $m
  27
  39
  54
  73
  97
  126
  161
  201
  248
  300
  359
  424
  496
  574
  657
  748
  843
  944
  1,052
  1,164
  1,281
  1,405
  1,533
  1,667
  1,806
  1,951
  2,102
  2,258
  2,421
  2,591
Debt-to-equity ratio
  0.370
  0.580
  0.720
  0.810
  0.870
  0.920
  0.950
  0.970
  0.990
  1.000
  1.010
  1.020
  1.030
  1.030
  1.040
  1.040
  1.040
  1.050
  1.050
  1.050
  1.050
  1.050
  1.050
  1.050
  1.060
  1.060
  1.060
  1.060
  1.060
  1.060
Adjusted equity ratio
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -31
  -48
  -71
  -101
  -138
  -184
  -238
  -302
  -376
  -460
  -555
  -661
  -777
  -903
  -1,040
  -1,186
  -1,343
  -1,509
  -1,684
  -1,868
  -2,062
  -2,264
  -2,475
  -2,696
  -2,925
  -3,164
  -3,412
  -3,670
  -3,938
  -4,216
Depreciation, amort., depletion, $m
  2
  3
  4
  5
  7
  9
  11
  14
  17
  21
  25
  30
  35
  40
  46
  53
  59
  67
  74
  82
  90
  99
  108
  117
  127
  137
  148
  159
  170
  182
Funds from operations, $m
  -29
  -45
  -68
  -96
  -131
  -175
  -227
  -288
  -359
  -439
  -530
  -631
  -742
  -863
  -993
  -1,134
  -1,283
  -1,442
  -1,610
  -1,786
  -1,971
  -2,165
  -2,367
  -2,578
  -2,798
  -3,026
  -3,264
  -3,511
  -3,767
  -4,034
Change in working capital, $m
  -2
  -3
  -4
  -5
  -6
  -7
  -8
  -10
  -11
  -12
  -14
  -15
  -17
  -18
  -20
  -21
  -23
  -24
  -25
  -27
  -28
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -39
  -40
Cash from operations, $m
  -27
  -43
  -64
  -91
  -126
  -168
  -219
  -278
  -348
  -427
  -516
  -615
  -725
  -844
  -973
  -1,112
  -1,261
  -1,418
  -1,584
  -1,760
  -1,944
  -2,136
  -2,337
  -2,547
  -2,765
  -2,992
  -3,228
  -3,474
  -3,729
  -3,994
Maintenance CAPEX, $m
  -1
  -2
  -3
  -4
  -5
  -7
  -9
  -11
  -14
  -17
  -21
  -25
  -30
  -35
  -40
  -46
  -53
  -59
  -67
  -74
  -82
  -90
  -99
  -108
  -117
  -127
  -137
  -148
  -159
  -170
New CAPEX, $m
  -3
  -4
  -5
  -7
  -8
  -10
  -12
  -14
  -16
  -19
  -21
  -23
  -25
  -27
  -30
  -32
  -34
  -36
  -38
  -40
  -41
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -60
Cash from investing activities, $m
  -4
  -6
  -8
  -11
  -13
  -17
  -21
  -25
  -30
  -36
  -42
  -48
  -55
  -62
  -70
  -78
  -87
  -95
  -105
  -114
  -123
  -133
  -144
  -155
  -166
  -178
  -190
  -203
  -216
  -230
Free cash flow, $m
  -31
  -49
  -72
  -102
  -139
  -185
  -240
  -304
  -378
  -463
  -558
  -664
  -780
  -907
  -1,043
  -1,190
  -1,347
  -1,513
  -1,689
  -1,873
  -2,067
  -2,270
  -2,481
  -2,702
  -2,931
  -3,170
  -3,419
  -3,677
  -3,945
  -4,224
Issuance/(repayment) of debt, $m
  4
  6
  8
  10
  12
  15
  18
  21
  24
  27
  30
  34
  37
  40
  43
  46
  49
  52
  55
  58
  61
  64
  66
  69
  72
  75
  78
  81
  84
  87
Issuance/(repurchase) of shares, $m
  35
  54
  79
  110
  150
  198
  255
  322
  399
  486
  584
  692
  811
  941
  1,080
  1,230
  1,389
  1,558
  1,736
  1,923
  2,119
  2,324
  2,538
  2,760
  2,992
  3,234
  3,485
  3,745
  4,016
  4,298
Cash from financing (excl. dividends), $m  
  39
  60
  87
  120
  162
  213
  273
  343
  423
  513
  614
  726
  848
  981
  1,123
  1,276
  1,438
  1,610
  1,791
  1,981
  2,180
  2,388
  2,604
  2,829
  3,064
  3,309
  3,563
  3,826
  4,100
  4,385
Total cash flow (excl. dividends), $m
  8
  11
  14
  18
  23
  28
  33
  39
  44
  50
  56
  62
  68
  74
  80
  86
  91
  97
  102
  107
  112
  118
  123
  128
  133
  138
  144
  150
  155
  161
Retained Cash Flow (-), $m
  -35
  -54
  -79
  -110
  -150
  -198
  -255
  -322
  -399
  -486
  -584
  -692
  -811
  -941
  -1,080
  -1,230
  -1,389
  -1,558
  -1,736
  -1,923
  -2,119
  -2,324
  -2,538
  -2,760
  -2,992
  -3,234
  -3,485
  -3,745
  -4,016
  -4,298
Prev. year cash balance distribution, $m
  6
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -21
  -43
  -64
  -92
  -127
  -170
  -222
  -283
  -354
  -436
  -527
  -630
  -743
  -866
  -1,000
  -1,144
  -1,298
  -1,461
  -1,633
  -1,815
  -2,006
  -2,206
  -2,415
  -2,633
  -2,859
  -3,095
  -3,341
  -3,596
  -3,861
  -4,136
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -20
  -39
  -56
  -76
  -98
  -123
  -150
  -177
  -203
  -228
  -250
  -269
  -282
  -291
  -294
  -291
  -282
  -269
  -252
  -231
  -208
  -183
  -158
  -134
  -111
  -90
  -72
  -56
  -42
  -31
Current shareholders' claim on cash, %
  68.0
  45.0
  29.5
  19.2
  12.6
  8.2
  5.4
  3.6
  2.3
  1.6
  1.0
  0.7
  0.5
  0.3
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Pareteum Corporation, formerly Elephant Talk Communications Corporation, develops Communications Cloud Services Platform. The Company provides mobility, messaging and security services and applications, with a single-sign-on, application program interface (API) and software development suite. Its platform hosts integrated information technology (IT)/Back Office and Core Network functionality for mobile network operators, and for enterprises implement and leverage mobile communications solutions on a outsourced Software as a Service, Platform as a Service and/or Infrastructure as a Service basis: made available either as an on-premise solution or as a hosted service in the Cloud depending on the needs of its customers. It also delivers an Operational Support System (OSS) for channel partners, with APIs for integration with third party systems, workflows for complex application orchestration, customer support with branded portals and plug-ins for a multitude of other applications.

FINANCIAL RATIOS  of  Pareteum (TEUM)

Valuation Ratios
P/E Ratio -0.6
Price to Sales 1.3
Price to Book -1.9
Price to Tangible Book
Price to Cash Flow -4.3
Price to Free Cash Flow -3.4
Growth Rates
Sales Growth Rate -58.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -87.5%
Cap. Spend. - 3 Yr. Gr. Rate -30.1%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity -55.6%
Total Debt to Equity -100%
Interest Coverage -30
Management Effectiveness
Return On Assets -157.9%
Ret/ On Assets - 3 Yr. Avg. -72.8%
Return On Total Capital -442.9%
Ret/ On T. Cap. - 3 Yr. Avg. -182.8%
Return On Equity 6200%
Return On Equity - 3 Yr. Avg. 2001.8%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 69.2%
Gross Margin - 3 Yr. Avg. 73.3%
EBITDA Margin -200%
EBITDA Margin - 3 Yr. Avg. -85.1%
Operating Margin -146.2%
Oper. Margin - 3 Yr. Avg. -79.2%
Pre-Tax Margin -238.5%
Pre-Tax Margin - 3 Yr. Avg. -121.5%
Net Profit Margin -238.5%
Net Profit Margin - 3 Yr. Avg. -121.5%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

TEUM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TEUM stock intrinsic value calculation we used $13.547507 million for the last fiscal year's total revenue generated by Pareteum. The default revenue input number comes from 0001 income statement of Pareteum. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TEUM stock valuation model: a) initial revenue growth rate of 47.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TEUM is calculated based on our internal credit rating of Pareteum, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Pareteum.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TEUM stock the variable cost ratio is equal to 250%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for TEUM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 109.7% for Pareteum.

Corporate tax rate of 27% is the nominal tax rate for Pareteum. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TEUM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TEUM are equal to 47.9%.

Life of production assets of 1.5 years is the average useful life of capital assets used in Pareteum operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TEUM is equal to -32.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $15.421533 million for Pareteum - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 60.263 million for Pareteum is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Pareteum at the current share price and the inputted number of shares is $0.1 billion.

RELATED COMPANIES Price Int.Val. Rating
TEUM Pareteum 2.04 0.06  str.sell
ORCL Oracle 48.84 34.20  sell
CSCO Cisco Systems 44.33 56.44  buy
DOX Amdocs 65.23 52.25  hold

COMPANY NEWS

▶ Why Pareteum Corp. Stock Plunged Today   [Nov-13-18 04:20PM  Motley Fool]
▶ Pareteum Enters into Denitive Agreement to Acquire iPass   [Nov-12-18 05:59PM  PR Newswire]
▶ Pareteum Announces Record Third Quarter 2018 Results   [Nov-07-18 04:01PM  PR Newswire]
▶ Pareteum Announces New Asia CEO   [Nov-05-18 06:03AM  PR Newswire]
▶ Pareteum Announces New Asia CEO   [05:27AM  PR Newswire]
▶ Pareteum Initiates Services for 11 Customers   [Oct-30-18 09:31AM  PR Newswire]
▶ Pareteum Adds $11 Million in New Business   [Oct-23-18 09:00AM  PR Newswire]
▶ Pareteum Now Trading on Nasdaq   [08:30AM  PR Newswire]
▶ Pareteum Targets Growth in the Americas with New Hires   [Oct-19-18 08:30AM  PR Newswire]
▶ Pareteum Announces $8 Million in New Agreements   [Oct-17-18 08:30AM  PR Newswire]
▶ Pareteum to Begin Trading on Nasdaq   [Oct-11-18 08:30AM  PR Newswire]
▶ Pareteum Expands Executive Leadership   [Oct-04-18 08:30AM  PR Newswire]
▶ Pareteum Adds $15 Million in New Contracts   [Oct-02-18 08:30AM  PR Newswire]
▶ Pareteum Breaks into Platform as a Service Market   [Sep-26-18 08:30AM  PR Newswire]
▶ Pareteum Expands to Asia   [Sep-18-18 08:30AM  PR Newswire]
▶ Pareteum Expands to Asia   [Sep-17-18 08:30PM  PR Newswire]
▶ Pareteum Announces Favorable Shareholders' Vote   [Sep-13-18 10:30AM  PR Newswire]
▶ Pareteum Corporation to Host Earnings Call   [Aug-06-18 02:30PM  ACCESSWIRE]
▶ Pareteum Set to Join Russell Microcap® Index   [Jun-12-18 08:45AM  PR Newswire]
▶ Pareteum Awarded $2 Million Agreement for WiFi Services   [May-16-18 08:45AM  PR Newswire]
▶ /C O R R E C T I O N -- Pareteum Corporation/   [May-14-18 04:30PM  PR Newswire]
▶ Pareteum Announces Record First Quarter 2018 Results   [May-07-18 04:33PM  PR Newswire]
▶ Pareteum Awarded 3-Year $2.5 Million Agreement   [Apr-26-18 08:45AM  PR Newswire]
▶ Pareteum to Present at New York Investor Conferences   [Apr-25-18 08:45AM  PR Newswire]
▶ Pareteum and iPass Form Strategic Alliance   [Apr-24-18 08:45AM  PR Newswire]
▶ Pareteum Introduces SuperAPI   [Apr-20-18 08:45AM  PR Newswire]
▶ Pareteum Issues Chairman's Update Letter   [Apr-16-18 08:45AM  PR Newswire]
▶ TEUM: Pareteum Enters 2018 With $200m Contract Backlog and Cash   [Apr-02-18 03:30PM  Zacks Small Cap Research]

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