F3 Technologies Reaching Company Milestones
ATLANTA, Apr 30, 2009 (BUSINESS WIRE) -- F3 Technologies Inc., (OTCPK: FTCH) an Atlanta based Software as a Service (SaaS) company, is pleased to announce that it has hit significant milestones during the month of April.
Milestone #1 - Interaction Establishes a Footprint in 5 U.S. States and Mexico
Over the last few months, the team at F3 has been working at a feverish pace developing our Ascend Global Business System while simultaneously launching the Interaction Community System in several HOAs. Since our last update to shareholders, we have added two more states and Mexico.
CEO Frank Connor stated: "We are very pleased with the initial results of our soft launch of Interaction in HOAs and even more pleased with the wide geographical area that the HOAs encompass. We are now opening the door much wider by targeting other significant community groups such as churches, schools, and school-sponsored organizations. Based on the acceptance rates we have encountered during the soft launch period we predict that Interaction could be used by 100,000 users or more before year's end."
Milestone #2 - Coastal Publications contract has potential to Generate $75,000 Per Month through Advertising Revenue
In regards to the Coastal Group deal alone, F3 expects advertising revenue to reach $75,000 per month once fully implemented, a goal that both Coastal and F3 are working toward daily. This monthly revenue estimate has been provided to us by Coastal and is based on their long history of working with advertisers.
"We are on course to achieve full company profitability before 2010 through this deal alone," stated Connor. "These numbers represent Coastal's reach into Dade County homes and do not factor in the potential we have through Coastal in the other counties where they have a presence. Coastal has been a wonderful business partner to work with and they are taking our Interaction product and really running with it."
Milestone #3 - Ascend Global Business System Reaches State of Readiness for Soft Launch
During the months of May and June, F3 plans to launch parts of the Ascend Global Business System into several Atlanta area businesses.
"The CRM marketplace is unlimited," said Connor. "The F3 product with the greatest money-making potential for us is far and away the Ascend Global Business System. I am thrilled that we are now at the point where this product will enter the marketing phase."
Connor concluded: "F3 would like to thank those investors that have contacted us to request a demonstration of Interaction to their HOA or community group. We want to encourage more of this and will gladly set up a time to present to your HOA or other groups. All of us here at F3 believe that we're part of something special that is starting to come to fruition."
"It is my commitment to shareholders to gain their trust through transparency, hard work, and progress. As of today our share structure remains unchanged at approximately 47M shares outstanding and 17.5M shares in the float. I commit to continue updating our stakeholders concerning our achievements through press releases, twitter updates, and video conferences."
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.
CONTACT:
F3 Technologies Inc. James Canouse, 770-521-2194 www.f3technologies.com info@f3technologies.com
Copyright Business Wire 2009
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KEYWORD: United States
Mexico
North America
Central America
Georgia
INDUSTRY KEYWORD: Technology
Data Management
Hardware
Software
Communications
Advertising
Marketing
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SUBJECT CODE: Product/Service
