Velocita denies its debt, terminates its relationship with International FiberCom

February 14, 2002

1 Min Read

FALLS CHURCH, Va. -- The following statement is being issued by Velocita Corp: "On February 12, International FiberCom, Inc. (IFCI) issued a press release regarding their financial situation and corresponding organizational changes. This statement referenced Velocita as its largest customer with certain amounts due. "IFCI was a contractor to Velocita for construction work on a portion of its network routes, including routes in the Carolinas, California and Tulsa to Ft. Worth. "The amounts cited by International FiberCom are in dispute between the parties, as acknowledged in IFCI's release. Specifically, Velocita disputes whether IFC has fulfilled its contractual obligations thereby entitling it to payment, and as such Velocita has terminated its remaining relationship with IFCI." Velocita Corp.

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