FullNet Communications Inc (OTC Pink: FULO) is a telecommunications services company that provides Internet access, mass notification services, web hosting, equipment colocation, and advanced voice and data solutions. Revenue comes from recurring service fees paid by individual and small business customers, with deferred revenue of $1,097,163 representing advance payments for services as of December 31, 2023. The company is headquartered in Oklahoma City, Oklahoma, founded in May 1995, and operates in intensely competitive markets for Internet services and mass text and voice messaging. FullNet generated net income of approximately $532,000 and operating cash flow of approximately $690,000 for the twelve months ended December 31, 2023. The company held $3,130,331 in cash against $1,780,592 in current liabilities as of December 31, 2023. The retail Internet access segment, offered under the FullNet brand to Oklahoma customers, has become immaterial due to customer attrition to other broadband solutions and is no longer a strategic focus. Mass notification services, delivering text messages and automated telephone calls, represent the active competitive front. Roger P. Baresel serves as CEO, CFO, and Secretary. The company pays a quarterly cash dividend, initiated May 13, 2022.

Revenue model

Recurring service fees from Internet access subscriptions, mass notification service usage, web hosting, equipment colocation, and voice and data solutions. Advance payments from customers are recorded as deferred revenue ($1,097,163 as of December 31, 2023) and recognized upon service delivery.

Products and services

Internet access (FullNet brand, retail, Oklahoma); mass notification services (text messages and automated telephone calls); web hosting; equipment colocation; customized live help desk outsourcing; advanced voice and data solutions.

Customers and end markets

Individual consumers and small businesses in Oklahoma for Internet access. Mass notification service customers across markets seeking text and voice message delivery. No customer concentration data disclosed in the filing.

Value-chain role

Retail service provider and reseller of telecommunications services. Relies on incumbent local exchange carriers and other carriers for underlying telecom facilities and services via interconnection agreements. Exited the CLEC (Competitive Local Exchange Carrier) business prior to the filing period.

Geographic exposure

Operations concentrated in Oklahoma. Internet access services explicitly limited to Oklahoma customers. No other geographic markets disclosed in the filing.

Competitors

Twilio, Inc., Everbridge, Inc., OnSolve, LLC, Call-Em-All, Inc., Callfire, Inc., OnTimeTelecom, Inc., EZ Texting

Source: SEC 10-K, filed 2024-04-01

Industry: Telephone Communications (No Radiotelephone) Peers: Verizon Communications Inc Digital Locations, Inc. Cuentas Inc HFactor, Inc. Nuvera Communications Inc Ooma Inc Starry Group Holdings, Inc. TPT GLOBAL TECH, INC.