Telemetrix, Inc. has informed that the Company and its wholly-owned subsidiary, Convey Communications Inc. has filed voluntary petitions under the provisions of Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court.

The Company has taken latest step after determining that seeking Chapter 11 bankruptcy protection is in the best interests of the Company, its creditors, stockholders and other interested parties in light of ongoing financial challenges and the inability to adequately fund operations and obligations.

During the bankruptcy proceedings, Telemetrix expects to sell the Company and/or its key assets. Proceeds from any transactions will be distributed to the Company's stakeholders, including its creditors.

Prior to the sale process, Telemetrix could not forecast the amount of these proceeds or whether the combination of sale proceeds will exceed the Company's liabilities. Therefore, the Company did not offer any details whether or not any proceeds will be distributed to shareholders.

Telemetrix is a wireless mobile telecommunications service provider and network operator, with headquarters in Boulder, Colorado. The Company is a provider of wireless voice, data and short-messaging services.