Spectrum Global Solutions, Inc. (OTCMKTS:SGSI) (f.k.a. Mantra Venture Group, Ltd.) is the holding company for next generation technology companies specializing in Telecommunications across the US, Canada and in the Caribbean.

Through the company’s Subsidiaries, AW Solutions, Inc., AW Solutions Puerto Rico, LLC., Tropical Communications, Inc., ADEX Corporation and ADEX Puerto Rico, LLC, it has become a leading provider of comprehensive outsourced services, professional project staffing services and solutions for the turn-key deployment and maintenance of next generation and legacy wireless and wired telecommunication networks and infrastructure.

We most recently mentioned Spectrum Global Solutions, Inc. (OTCMKTS:SGSI) following the company’s announcement of the results of its fiscal quarter ended September 30th, and since that time there have been a couple of updates, including one that we wanted to summarize for our readers today about the various highlights and plans for strategies that Spectrum reported by way of a letter from CEO Roger Ponder.

In terms of the growth strategy, Spectrum Global plans to do so organically and through strategic acquisitions.  The company has assured shareholders it will not make acquisitions simply to pad the books and increase revenue inorganically. The company is also seeking the ability to expand its services geographically, and enter into new customer bases.

Another stated focus moving forward is the improvement of the balance sheet. Spectrum has reduced convertible debt and operating expenses and obtained a revolving line of credit to help with working capital at low interest rates. Ponder believes that since SGSI’s reverse split in September, the stock has “taken a beating from certain remaining convertible debt holders and others who liquidated their positions.”

SGSI assures every attempt is being made to eliminate the structured finance that tends to hurt microcap companies. With successful reductions in operating expenses and improved cash flow from operations in 2018, Spectrum expects to achieve quite a bit of progress in the fast-approaching 2019 calendar year.

While not satisfied with the current price of its stock, the company pointed out that its proprietary Drone Tower Mapping and Inspection services are not even factored into the current valuation of SGSI stock.

Through the development of this patented proprietary technology, Sprectrum reports having the ability to, via drones, structurally map, measure, analyze and video capture towers and associated antenna mounts and equipment. The current industry standard is using tower climbing crews to physically ascend and measure the structural members. Spectrum’s technology would provide the same service with increased safety, consistency and productivity.

In terms of market opportunity, Ponder had this to say: “In the telecom industry, there is the current deployment of 5G technology, network densification and the development of disruptive technology, including software defined networks (SDN) and network function virtualization (NFV). There is a current need to deploy, expand and enhance the telecom and data networks as well as update infrastructure and enterprise facilities to support this new technology. The modernization of network infrastructure by carriers, enterprises and government entities will keep Spectrum Global and our operating subsidiaries busy for years to come.” (Source: Globe Newswire)

We’ll be interested to continue following SGSI stock as well as monitor the company’s news feed for any further developments that might occur in the future, but in any case, SGSI continues its recent pattern of closing out 2018 on a strong footing. The company’s heightened outlook for 2019 will keep us interested in this play for a long time to come.

Stay locked to Street Register for updates, and we’ll deliver important developments on SGSI as they unfold. Don’t forget to sign up for our 100% free newsletter! Just enter your active email address into the box below and submit!