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Wed, January 6, 2010
F3 Technologies Provides Year End Review and 2010 Outlook
ATLANTA, GA--(Marketwire - January 6, 2010) - F3 Technologies, Inc. (
Frank Connor, CEO, stated: "2009 has been a very exciting year for F3 Technologies. While the company dedicated a significant portion of the year to develop our core line of products, we also made significant progress in the sales and marketing efforts for the Interaction product line. Currently the company has close to 50 customers in the Interaction system at various points in the on-boarding process with many of them actively using the system on a daily basis. The company continues to work off an aggressive sales pipeline for Interaction that is currently tracking close to 600 home owner associations, condo associations, churches, and property management companies. I am extremely thrilled with what we have accomplished in 2009 and expect our progress to accelerate in 2010."
While the progress in Interaction has been substantial, the company has been quietly gearing up for the launch of FargoTube 2.0 in early 2010. Paul Campbell, Executive Vice President, stated: "Since coming onboard in August 2009 I have seen many great strides in the F3 team and product lines. None as promising as the upcoming launch of FargoTube, which I feel will garner the greatest market exposure and revenue generating opportunities for the company in 2010." Shareholders and other interested parties can expect to see updates to the FargoTube home page ([ http://www.fargotube.com ]) in the days and weeks to come as the product completes its final phases of testing.
Frank Connor, CEO, further commented: "I would like to share a few key areas in which I strongly believe F3 has proven a commitment to excellence and ultimate success:
"FARGOTUBE -- Expected early 2010 launch. The launch of FargoTube will deliver a platform that brings a uniquely different business model to the online video content marketplace. This platform has the opportunity to drive significant customer adoption and revenue for the company. The company intends to unveil our new business model of FargoTube to its shareholders during its national marketing launch.
"INTERACTION COMMUNITY SYSTEMS -- Vast improvements have been made to the Interaction platform over the past year. These improvements have broadened the system's capabilities positioning it to more effectively attract and sustain a variety of organizations such as churches, member organizations, association management companies, property management companies, home owner associations and condo associations. This variety of organizations allows the company to derive a more significant and diversified revenue stream.
"INTERACTIVE DEFENSE PROGRAM -- F3 will be updating shareholders on the Interactive Defense Program (IDP) in early Q1.
"ASCEND -- The Company has successfully completed the beta phase for the Ascend Share, Ascend, Website, and Ascend Store product lines. While the company is currently focusing on the marketing and sales of its FargoTube and Interaction products, the company will continue to refine these products and launch them as resources become available in the future.
"PAUL CAMPBELL -- 2009 saw the hiring of F3's first Executive Vice President, Paul Campbell. Paul's pedigree and experience in the Software as a Service industry have proved invaluable to the operations of the company. His work in the first few months has greatly broadened the company's market exposure while bringing more in depth systems and processes to the operations of the company and its product lines.
"SHARE STRUCTURE -- The share structure for FTCH remains virtually unchanged from its current filing with roughly 66M outstanding and 30M in the public float. F3 is pleased to report it is heading into 2010 with very little debt compared to Q1 2009. As demonstrated in the past, F3 is committed to transparency for our shareholders and determined to grow the business responsibly. Provided we have the capital means do so, F3 intends to make the appropriate filings and obtain an Attorney Letter in its efforts be designated a Current Information filer.
"POSSIBLE ACQUISITION IN 2010 -- F3 will continue to pursue acquisition targets that expand our market share, complement our current offerings and grow our revenues in key areas.
"PARTNERS -- F3 continues to develop key strategic relationships for the Interaction product and over the past 2 months we have made significant progress in launching sales efforts with our partners in Florida, Georgia and Illinois. The combined efforts of these partners over the last few months will yield 24 new communities for Interaction. In addition to Interaction, we continue to work on establishing key strategic partnerships for FargoTube and will update the market over the coming weeks on our progress.
"WEBSITE -- F3 will be launching a new website in early 2010 that will automate press releases as well as show current Twitter updates and Facebook newsfeeds. The new website will also introduce 'F3 Labs.' The F3 Labs feature is designed to provide you with an inside look and preview into what is upcoming with new products and or functionality under development."
Frank Connor concluded: "The executive team and I could not be more excited about the developments we see here on an almost daily basis. We have undergone several strategic planning sessions throughout the month of December and are confident about the plan we have laid out before us. 2010 will see a greater focus on revenue, market exposure and product sales and we look forward to communicating our progress on a regular basis. The company will also seek a 'Transparent' status on Pinksheets to show investors our continued commitment to transparency and the desire to make each shareholder of F3 feel like you are a part of something great."
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.
Forward-Looking Statements
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.