ERFB ERF Wireless Inc (CE)

LEAGUE CITY, TX, United States, via ETELIGIS INC., 09/26/2014 - - ERF Wireless Inc., (OTCQB: ERFB), a leading provider of enterprise-class wireless and broadband products and services, announced today that as of September 16, 2014, it has terminated its Senior Secured Revolving Credit Facility ("Facility") with TCA Global Credit Master Fund, LP ("TCA") and has simultaneously paid TCA the complete outstanding balance of approximately $1.165 million dollars including principal and interest. The term of the Facility was one year. The payoff amount also included the elimination of approximately $92,000 of Advisory Fees that were convertible into our common stock at a 15% discount to market based on the five-day Volume Weighted Average Price ("VWAP") of the stock. The repayment of the TCA Facility releases all security positions on ERF Wireless collateral that the TCA Facility had maintained since January 2013 when the facility was initiated. ERF Wireless requested the termination and payoff of the outstanding amount due under the Facility in order to remove the Senior Security encumbrances on the company assets and to provide the flexibility to secure longer-term funding.

Dr. H. Dean Cubley, CEO of ERF wireless, Inc. commented, "The repayment of our obligations under the TCA Facility and the associated removal of the encumbrances on our core assets was the third objective in our overall plan, summarized below, to restructure the ERF Wireless balance sheet to eliminate and consolidate debt and to position the company for continued expansion and growth of our oil and gas wireless broadband service business. We will continue to utilize our networks in the Permian Basin, the Eagle Ford Shale, and other parts of Texas, New Mexico, Oklahoma, and Louisiana to service our oil and gas customers. In addition, for the residential networks we have recently sold and announced we also have contracted on a multi-year basis with the buyer of these networks to have the exclusive rights to deliver wireless broadband services to Energy-related customers over these networks. The next step in our overall plan is to utilize the un-encumbered assets of ERF Wireless and its subsidiaries to obtain long-term debt financing to complete our balance sheet restructuring and payoff of most debt."

ERF Wireless Twelve - Month Business Objectives

- Continuation of our ongoing program to eliminate unnecessary cost and to improve operational efficiencies. ----Ongoing

- Sale of certain of our wireless networks that are non-core to our oil and gas business for improvement of our balance sheet and for expansion of our oil and gas business. -----Completed

- Paying down and eliminating company debt to clean up the balance sheet to reduce interest and other capital costs. -----In Progress

- Possible mergers and/or acquisition activities with other innovative technology companies to increase ERF Wireless revenues and cash flow. -----In Progress

- Execute operations in all business segments with a plan to achieve EBITDA based positive cash flow and profitable operations in the year 2014. -----Ongoing

- Strive to complete the requirements for and obtain an up-listing to one of the national markets to improve stockholder value. -----Planned

About ERF Wireless

ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at www.erfwireless.com, www.energybroadband.com and www.erfwireless.net or call 281-538-2101. (ERFBG)

Forward-Looking Information

The information in this release may contain forward-looking statements relating to anticipated or expected events, activities, trends or results. Forward-looking statements, can be identified by the use of forward looking terminology such as "believes," "suggests," "expects," "may," "goal," "estimates," "should," "likelihood," "plans," "targets," "intends," "could," or "anticipates," or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Forward-looking statements in this release include, without limitation, the Company's expectations of continued expansion into oil and gas markets and of our terrestrial broadband networks, along with other performance results. These statements are made to provide the public with management's current assessment of our business, and it should not be assumed that that the forward looking statements will prove to be correct. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this release only as of the date hereof, and we expressly disclaim any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in management's expectations or any change in events, conditions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in this release. Please carefully review our filings with the Securities and Exchange Commission as we have identified many risk factors that impact our business plan.

CONTACT:

ERF Wireless Inc.

Clareen O'Quinn

281-538-2101 ext. 113

coquinn@erfwireless.com

Financial Relations Firm:

Mirador Consulting LLC

561-989-3600

lbigbidask@aol.com

SOURCE: ERF Wireless Inc.

Associated Documentation:

http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=27928 - Link to submission on http://www.eteligis.com

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