TPT Global Tech and American Tower Reach Settlement on $3.9M Litigation(TPTW)

10일 미국 증권거래위원회에 따르면 TPT Global Tech, Inc. (OTC PINK:TPTW) and its subsidiary TPT SpeedConnect, Inc. have signed a Release and Settlement Agreement with American Tower Plaintiffs effective June 25, 2024. The agreement addresses disputes related to telecommunications tower leases and licenses, with the Company agreeing to a settlement payment of $1,085,000, covering rent and attorney fees, as well as costs associated with the removal of equipment from American Tower's 51 towers, potentially reaching $1,000,000.

As part of the agreement, 51 licenses have been terminated while 11 have been reaffirmed. A Confession of Judgment up to $2,085,000 has been agreed for any unpaid amounts under the Settlement Agreement if not settled by December 31, 2024.

Stephen Thomas, CEO of TPT Global Tech, stated, 'This Settlement agreement with American Towers is a positive step forward for both companies, and I am pleased that ATC has agreed to participate in our cash allocation from our uplisting to a major US Stock exchange as we continue to reduce debt.'

TPT Global Tech, headquartered in San Diego, provides a variety of services including media, telecommunications, and the launch of the super App VuMe Live technology platform. The company offers software as a service (SaaS), technology platform as a service (PAAS), and cloud-based unified communication as a service (UCaaS) solutions globally. Their latest Form S-1 filing with the SEC includes details of the Settlement Agreement.
For more information about TPT Global Tech, visit www.tptglobaltech.com or contact Rick@tptglobaltech.com.

#Settlement Agreement #American Tower #Stephen Thomas #TPT SpeedConnect #telecommunications tower leases #debt reduction

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