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PKPTE - YFonGlobal Announces Intent to Trade on the OTC Bulletin Board
Premier Social Network Enabler, YFonGlobal, LLC, has Reached Agreement to Reverse Merge into with PacketPort.com, Inc. (NASD, OTC, PKPTE)
Jun 12, 2007 7:55:00 AM
Copyright Business Wire 2007
WASHINGTON--(BUSINESS WIRE)--

YFonGlobal,LLC, a leading social network enabler, announced the signing of a letter of intent with PacketPort.com, Inc., a Nevada corporation, that is currently a public corporation trading on the Over-The-Counter (OTC) Bulletin Board under the ticker symbol ("PKPTE"). Under the terms of the Letter of Intent, YFonGlobal will consummate, a reverse merger into PacketPort.com, Inc. that, upon completion, will result in YFonGlobal, LLC becoming a publicly traded corporation listed on the over the counter bulletin board. This is a non binding Letter of Intent that could lead to a transaction that must be endorsed by the respective boards of directors and shareholders prior to consummation. An appropriate Form 8(K) was filed with the Securities and Exchange Commission by PacketPort.com, Inc. on Friday, June 8, 2007.

Working closely with Source Capital Group (SCG) in Westport, CT, a leading middle market investment bank, YFonGlobal expects to raise between $5-10 million subject to completion of the reverse merger. YFonGlobal has over $8 million in contract backlog and seeks to build-out delivery and sales support services to meet substantial demand for this emerging category. Recent competitive wins against MySpace and FaceBook, have demonstrated strong demand for the feature-rich social network application offered by YFonGlobal, and marketed under the trade name, wyndstorm(TM).

"With access to public financial markets, we have a tremendous opportunity to grow our social network solutions. This financing is critical to continue our growth, execute our strategy, and maintain our leadership position in this space," said Marian Sabety, President and CEO of YFonGlobal. "Capital will be used to expand our sales force and meet the explosive demand posed by both domestic and global interest in our social network offerings. We will also expand our end-to-end customized social network applications for B2B and B2C online marketing programs. This transaction and related funding positions us to offer one-stop social network set-up, customization, and ongoing program management."

On June 14th, YFonGlobal is launching a 1.6 million subscriber social network for Golden Key, an association of international students seeking a private community for online collaboration. YFonGlobal beat MySpace and FaceBook in winning the contract to host this community based on meeting tailoring requirements that included security from non-members, blocking inappropriate content, controlled advertising, and free buddy-buddy calling between members. YFonGlobal hosts a proprietary business software application that provides online collaboration, integrated voice over IP (VoIP) calling services and encryption. Unlike MySpace and FaceBook, YFonGlobal allows clients to offer customized, private, and safe communities with controlled advertising, dramatically expanding the market for these applications to address privacy and security concerns.

About YFonGlobal, LLC

YFonGlobal, a Washington D.C.-based company, provides turnkey social networking solutions tightly integrated with voice-over-Internet Protocol (VoIP) network solutions for affinity marketing leaders. Using wyndstorm(TM) hosted application, clients can rapidly tailor and privately brand custom social networks by selecting from over 52 pre-built modules. wyndstorm provides search, security, click-to-call, consumer-posted content licensing, and other value-add features that provide high value collaboration and programming for private brand marketing. For more information about YFonGlobal, LLC, visit www.yfonglobal.com.

Source: YFonGlobal, LLC



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YFonGlobal
LLC
Nancy Rose Senich
703-442-0080
[e-mail]