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F3 Technologies, Inc. : F3 Technologies Creates an Entirely New Service Business Based on the Interaction Community System

^{Published on 2009-09-16 09:31:16 - Market Wire}
 

ATLANTA, GA--(Marketwire - September 16, 2009) - F3 Technologies, Inc. (PINKSHEETS: [ FTCH ]) is pleased to unveil the creation and launch of an entirely new service business. F3's Interaction product offering now includes Virtual Community Management which provides a niche solution to communities that can no longer or wish to no longer, afford the expense of a full service management company. F3 has already signed its first Virtual Community Management customer out of Phoenix, AZ and looks to build on this success in the near future.

Most Home Owner Associations (HOAs) spend roughly 50% to 60% of their entire budget on the employment of a full service management company to assist them in the day to day operations of running an HOA. This includes certain duties such as, but not limited to, collecting dues, paying vendors, creating accounting reports, budgeting and making sure homeowners are adhering to the community By-Laws in general. According to F3's research, we have concluded that the majority of the work that a typical management company provides to community centers around accounting and can now be handled through online tools such as Interaction Community System.

F3's Virtual Community Management will handle such services as:

 Collecting and Billing of Community Dues Creating Annual Draft Budgets Preparing Weekly Account payable Send Monthly Financial Reports Paying Vendors Federal and State Taxes Maintain Official Records And much more... 

While F3 will not provide all the services of a typical management company, such as frequent property inspections, attending meetings, and other services that would require on-premise support, the virtual nature of the business allows F3 to work with HOAs all over the U.S.

Frank Connor, CEO of F3 Technologies, stated, "In enrolling communities to use the Interaction Community System over the last several months and listening to our customers concerns and issues, we started to realize that there is a huge and growing demand for a service such as Virtual Community Management. Given the current economic environment, most HOAs are simply not collecting as many dues as they were in the past few years while their funding needs continue to increase year over year. This funding disparity is placing tremendous financial burden on the HOA! In light of this, HOAs are looking for ways to cut cost and streamline their operations. Interaction VCM provides a much needed solution. We believe that this product alone could alter the entire community management company business over the next few years. It's a business segment game changer."

To learn more about Virtual Community Management go to: [ http://www.interactioncs.com/Interaction/VirtualCommunityManagement/Overview.aspx ]

Change of Venue:

Please note that the venue of the video presentation on Wednesday has changed. To view the presentation please go to [ http://www.f3technologies.com/live ] on the evening of Wednesday, September 16th at 8 PM. Paul Campbell and Frank Connor will discuss the sales and marketing strategies for the Interaction product line as well as provide a brief tour of Interaction's new features.

About F3 Technologies Inc.

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. 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.