"I believe increasing this offering and using the proceeds to repay existing debt places the Company in a stronger financial position by providing liquidity and lowering the Company's outstanding debt significantly." said Steven van der Velden, Chief Executive Officer of the Company. "The $12 million in equity financing, combined with the approximately $1.5 million that was raised in May, is an integral part of the Company's plan to regain compliance with the NYSE MKT. I look forward to focusing the majority of my time on growing the Company's Mobile and Security businesses and on generating positive operational cash flow on a more consistent basis."The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes, including repayment of the outstanding obligations under all secured senior convertible notes the Company issued on March 29, 2012. The shares are being offered by Elephant Talk pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The public offering is being made by means of a prospectus and prospectus supplement. Copies of the prospectus and prospectus supplement relating to the offering may be obtained at the U.S. Securities and Exchange Commission's website, http://www.sec.gov, or via written request to Elephant Talk at 9705 N. Broadway Ext. Ste 200, 2nd Floor, Oklahoma City, OK 73114, Attn: Corporate Secretary, or by calling–813-926-8920. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any state.