July 2, 2019 – Pareteum yesterday announced that its Q2 2019 performance will exceed analysts expectations on Revenue and Adjusted EBITDA will beat consensus. This press release is laughable in light of Viceroy and Aurelius’ exploration of Pareteum’s “customers”, who are financially unable to fulfil the multi-million dollar contracts announced by management.
Pareteum can record as much revenue on paper as they like from their “customers”, however this will not improve the Company’s dire cash position and ballooning payables balance.
We challenge Pareteum to transparency through the provision end-of-quarter receivables, payables, and cash balances to its stakeholders.
This report further explores Pareteum and Iran sanctions.