Digerati Technologies, Inc. reported financial results for the six months ended January 31, 2012. For the period, the company reported revenues of $2.9 million. Adjusted for non-cash items, non-GAAP net loss for the six months ended January 31, 2012 was $369,000. Excluding non-cash items, net loss to common stockholders for the six months ended January 31, 2012 was $369,000 as compared to a net loss to common stockholders of $66,000 for the previous period ended January 31, 2011. The company provided earnings guidance for the second half of fiscal 2012. The company expects the top-line revenue from its legacy wholesale business to decline as it continues transforming its business model and placing a stronger emphasis on higher margin cloud telephony applications and session-based communication services.