November 30, 2009 (FinancialWire) InteleCom, Inc. (OTC: IECM), a provider of international VoIP communications who has sold telephones and VoIP service to over 122 countries, has terminated its alliance with WorldTel Xchange, Inc.
InteleCom said WorldTel Xchange could not and did not provide the equipment nor the services required to fulfill the projected plan. InteleCom relied on internal management but more importantly relied heavily on outside consultants to perform the necessary due diligence of WorldTel Xchange. The alliance began to unravel recently as orders could not be met by WorldTel Xchange and upon even more recent investigation, WorldTel Xchange, a private company, is now embroiled in numerous lawsuits involving a hostile takeover, upon learning of these most recent events, InteleCom terminated the alliance with cause and cut all ties with WorldTel Xchange.
InteleCom, Inc. is an 11-year-old company that has provided value-added telecommunication and technology products, including Internet phone service through its other division InteleFone.
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