Revolutionary Technology Is Expected to Break Language Barriers in Wireless Communications Industry
TAMPA, FL--(October 18, 2007) - FTS Group, Inc. (OTCBB: FLIP), an acquisition and development Company operating in the Internet, Wireless and Technology space, today announced that it signed a binding letter of intent to acquire a patent-pending cell phone translator technology that it believes will transform the wireless communications Industry.
FTS Group Chairman and Chief Executive Officer Scott Gallagher commented, "It's an exciting day at FTS as we've announced today the signing of a binding letter of intent to acquire a revolutionary patent-pending cellular phone translator technology. The technology acquisition is scheduled to close within 14 days. Once the deal is closed, we'll immediately begin developing the prototype; when complete, the patent-pending technology will allow cellular phone users to communicate in real time in any language. The new technology allows cellular phone users to have a conversation with someone in real time that speaks another language, meaning that a user who can only speak in Spanish can have a real time cell phone conversation with a user that only speaks English; the technology converts the signal so each user hears the conversation in the language of their choice." Gallagher continued, "The patent-pending cell phone translator technology, when fully developed and deployed, has the potential to penetrate markets globally and is what we believe to be a revenue opportunity in the coming years of well over $100 million annually in the US alone, not to mention the opportunity in the European and Asian markets."
About FTS Group, Inc.
FTS Group, Inc. (OTCBB: FLIP) is a publicly traded acquisition and development Company. The Company generated profitable sales of $6.6 million during 2006, an increase of 409% from the previous year. FTS is focused on acquiring, developing and investing in cash flow positive businesses and viable business ventures primarily those in the wireless and Internet space. The Company generates revenue through its three wholly owned subsidiaries; See World Satellites, Inc., FTS Wireless, Inc. and Elysium Internet, Inc. For additional information about FTS Group, Inc. or any of its wholly owned subsidiaries please review the Company's quarterly, annual and other filings with the Securities and Exchange Commission at http://www.SEC.gov or contact the Company at the e-mail or phone number below.
Forward-Looking Statements
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the Company's Annual Report on Form 10-K and 10-K/A as filed with the Securities and Exchange Commission. Readers are cautioned not to place reliance on these forward-looking statements, which speak only as of the date hereof.
Contact:
Scott Gallagher
CEO
FTS Group, Inc.
727-417-7807
www.FTSGroup.com
