In November, Teletouch Communications, Inc. (OTC:TLLE) settled its disputes with New Cingular Wireless and AT&T Mobility Texas. The stock price went over $0.80.
Recently, TLLE has been trading around $0.55. It looked like there could be a break out starting last Friday, but yesterday TLLE closed down 8.20% at $0.56 on 36 thousand shares.[BANNER]
Today before the open TLLE announced its subsidiary Progressive Concepts, Inc. (PCI) had signed a comprehensive distribution agreement with Monster Digital. PCI Wholesale will be the exclusive U.S. Authorized Distributor of Monster Digital’s full line of SD and MicroSD Cards.
The press release doesn’t give estimates of what the agreement could do for TLLE financially, but it can generate some excitement on the market.
At this time TLLE’s future isn’t certain. The AT&T settlement gave the company breathing space, but it’s still not clear whether the company will manage to accomplish its plans and turn profitable in time. Still, it seems shareholders are comfortable at this level.
