EX-99.1 CHARTER 14 exhibit991.htm exhibit991.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
Exhibit 99.1 
 
FOR IMMEDIATE RELEASE 
 
eLEC Communications Secures $4 Million Financing
 
 
WHITE PLAINS, N.Y. – October 10, 2007 – eLEC Communications Corp. 
(OTCBB:ELEC), a provider of wholesale IP-based communications services, today 
announced that it has received gross proceeds of $4 million from the sale of its secured 
term notes to two investment funds. The proceeds of the sale will be used primarily to 
support the growth of the voice-over-broadband wholesale services provided by its 
wholly owned subsidiary, VoX Communications Corp. 
 
“This financing is a significant recapitalization of our company and is designed to 
provide us with the cash resources necessary to fund our company until we are operating 
on a profitable basis,” said Paul Riss, eLEC’s CEO. “We are pleased that our investors 
have provided us with this additional cash and restructured our existing term notes so that 
we have the financial resources to succeed. While other digital voice companies have 
ceased operations, we have been able to keep our fixed network costs and per-subscriber 
marketing costs low because of our award-winning, Linux-based technology and our 
wholesale approach to the marketplace that does not require us to directly target the 
individual consumer. We believe we have a powerful business model that works and we 
are very pleased that two institutional investors have fully-funded our business plan.” 
 
Under the terms of the financing, the first 24 months require no principal payments on the 
secured term notes, and the first 12 months of interest payments have been deposited into 
a restricted cash account. The notes bear interest at a rate per annum equal to the Wall 
Street Journal Prime Rate plus 2%. eLEC will file today a Current Report on Form 8-K 
to disseminate more detailed terms of the transaction. 
 
“We believe the success of our wholesale digital voice product has now attracted 
significant financial partners who are stepping up and taking ownership in addition to 
providing the growth capital that we currently believe we need to reach profitability,” 
continued Riss. “Based upon new warrants that have been issued, which have no 
registration requirements, on a fully-diluted basis, our plan carves out 40% of eLEC for 
our current shareholders and 60% for our new financial partners, assuming our operating 
targets are met. We anticipate that the cash that has been infused onto our balance sheet 
will be noteworthy to some very large potential customers, allow VoX to continue to 
position itself as a market leader and provide added momentum for our success.” 


About eLEC Communications 
eLEC Communications Corp., through its wholly owned subsidiary, VoX 
Communications Corp., provides an integrated suite of IP-based communications 
services and offers wholesale broadband voice, origination and termination services for 
cable operators, carriers, ISPs, CLECs, resellers and other wireless and wireline 
operators, as well as enhanced VoIP telephone service to the small business and 
residential marketplace. For more information, visit www.voxcorp.net and 
www.pervasip.com. 
 
This release contains forward-looking statements that involve risks and uncertainties. eLEC’s actual results 
may differ materially from the results discussed in the forward-looking statements. Factors that might 
cause such a difference include, among others, certain risks and uncertainties over which the company may 
have no control. For further discussion of such risks and uncertainties, which could cause actual results to 
differ from those contained in the forward-looking statements, see the discussions contained in eLEC’s 
Annual Report on Form 10-K for the year ended November 30, 2006, and any subsequent SEC filings. 
 
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For more information, please contact:     
 
Paul Riss, CEO    Ron Harden, Executive Vice President 
eLEC Communications Corp.    VoX Communications Corp. 
914-682-0214    321-282-0820 
phriss@elec.net    rharden@voxcorp.net