FTCH 0.0019 BIG NEWS watch for a move >>>
F3 Technologies Executes Term Sheet for $2,000,000 in Non-equity Funding
Date : 03/06/2012 @ 8:35AM
Source : PR Newswire
Stock : F-3 Techs De (PL) (FTCH)
Quote : 0.0019 -0.0003 (-13.64%) @ 4:26PM
F3 Technologies, Inc. (Pinksheets: FTCH) announced today it has executed a term sheet for $2,000,000 in non-equity based funding and is currently developing plans to accelerate execution of its socially interactive suite of software-as-a-service (SaaS) platforms - Interactive Defense(TM) and FargoTube(TM).
"The closing of this non-dilutive funding in today's onerous lending environment is a major triumph for both the Company and its shareholders," commented Frank Connor, F3 Technologies' chief executive officer. "I expect receipt of the first funding tranche by month's end."
"In anticipation of soon receiving this funding, I have directed our staff and professional advisers to make immediate plans for accelerating key elements within our business plan: conducting marketing and industry trend research, improvement in regulatory status including a 2-year audit and up-listing, development of a dedicated sales team, and planning of 2012 promotional activities and events."
"Currently, there are numerous behind-the-scenes initiatives underway. For instance, FargoTube staff have already begun reaching out to key producers, entertainers, talent and advertising aggregators, and record labels to greatly expand and diversify its entertainment libraries."
"I expect to soon announce funding details and scheduling, numerous accelerated business plan initiatives, and launch of an aggressive regulatory initiative," Connor concluded.
ABOUT F3 TECHNOLOGIES, INC. (www.f3technologies.com)
F3 Technologies is a software innovator that creates specialized social networks for groups ranging from homeowners associations to music fans. Its products include Interaction Community Systems™, an online tool for homeowners associations and other member groups; Interactive Defense System™, for police and other municipal departments; and Website Tournament, a transparent and competitive marketplace for site design.
Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update forward-looking statements as the result of new information or future events. We urge investors to review the risks and uncertainties within its filings with the OTC Markets and/or Securities and Exchange Commission.
Contact:James Canouse770-521-2194
SOURCE F3 Technologies, Inc.
