Contact Information: Contact: Scott Gallagher CEO FTS Group, Inc. 727-417-7807 www.FTSGroup.com
FTS Group Signs Binding Letter of Intent to Acquire Patent-Pending Cellular Phone Translator Technology
Revolutionary Technology Is Expected to Break Language Barriers in Wireless Communications Industry
| Source: FTS Group, Inc.
TAMPA, FL--(Marketwire - 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.