F3 Technologies Takes Action to Reduce Authorized Shares by 80%
ALPHARETTA, Ga., May 21, 2009 (BUSINESS WIRE) -- F3 Technologies, Inc. (OTCPK:
FTCH) is pleased to announce that in an ongoing effort to build shareholder
confidence, on May 21st, 2009 the company has filed with the State of Delaware to
reduce its authorized shares count down from its current one billion and two
million (1,002,000,000) shares down to two hundred and two million (202,000,000)
shares.
Frank Connor, CEO of F3 Technologies, stated: "I have always commented that it is
F3's commitment to shareholders to gain their trust through transparency,
progress and hard work. It always has been and always will be our goal to
constantly build on our shareholder confidence. We get scores of calls every week
from potential investors who have been waiting on this action to invest. By
taking these steps to finally reduce our authorized shares by 80% we hope to
prove to these potential investors and existing investors that we truly have
their best interest in mind."
F3 Technologies, Inc. has sent via over-night mail a "Certificate of Amendment of
Certification of Incorporation", along with all filing fees, to the Delaware
Division of Corporations in Dover, DE. At this point it is not clear exactly how
long it will take to actually reduce the share count, however, F3 Technologies
intends to announce publicly when the actual reduction transpires.
F3 Technologies, Inc. (F3) is an Atlanta-based Software-as-a-Service development
company and application service provider created to provide on demand internet
solutions to consumers and small to mid-sized companies. F3 currently has three
distinctive products: Fargotube.com, Ascend Global Systems and Interaction
Community Systems. It is F3's goal to provide the necessary systems and tools to
help its end user realize personal, professional, social, and business oriented
goals.
Certain statements in this release and the attached corporate profile that are
not historical facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements may be
identified by the use of words such as anticipate, believe, expect, future, may,
will, would, should, plan, projected, intend and similar expressions. Such
statements involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking
statements. The Company's future operating results are dependent upon many
factors, including but not limited to the Company's ability to: (I) obtain
sufficient capital or a strategic business arrangement to fund its expansion
plans; (ii) build the management and human resources and infrastructure necessary
to support the growth of its business; (iii) competitive factors and developments
beyond the Company's control; and (iv) other risk factors.
SOURCE: F3 Technologies, Inc.
F3 Technologies, Inc.
Jim Canouse, 770-521-2194
ir@f3technologies.com
Copyright Business Wire 2009
