Teletouch Communications Inc. in talks with several potential targets. Kip Hyde, President, Chief Operating Officer of Teletouch Communications, said, "We continue to have discussions with a variety of potential acquisition targets. Deal flow continues to be relatively strong, and we would consider the opportunity to acquire a complimentary business once we're past our current financing challenges.

While we are focused on wholesale distribution as a key revenue growth engine, we do have a strong competency in providing and servicing recurring revenue services. Therefore, either through an acquisition and potentially some form of joint venture, we are continuing to explore the opportunity to provide telecom or telecom related services to our current subscriber base for subscribers we have serviced from prior years as well as introduce the opportunity for entirely new types of subscribers."