SOURCE: F3 Technologies, Inc.

F3 Technologies, Inc.

May 19, 2011 13:00 ET

F3 Technologies Exceeds 1st Quarter Revenue Expectations

ALPHARETTA, GA--(Marketwire - May 19, 2011) - F3 Technologies, Inc. (PINKSHEETS: FTCH) announced today that its revenues for the 1st quarter were $40,826, which exceeded the guidance of $37,500-$40,000 we provided in December 2010. The quarterly revenues represented a 55% increase from the previous quarter and a 234% increase over the 1st quarter of 2010.

FargoTube™, the Company's online platform for the profitable distribution of music and videos, continues to show significant growth. Since late March, subscribers have grown from 600+ to more than 1,200, and digital content providers now number in excess of 700. The Company has also launched new custom design services for its users, which enhance its revenue opportunities. These new services, along with two new partnerships (GigLaunch and Music2Q), will help FargoTube reach a larger audience of artists and move the product closer to creating a complete eco-system, a "one-stop shop" that lets artists focus on creating the music that fans want to hear.

Frank Connor, CEO of F3 Technologies, Inc., stated, "We continued to be pleased with the company's progress on all fronts. Our revenue growth in the 1st quarter of 2011 demonstrates that the company's hard work and focus are beginning to deliver real value and return -- the goal we have driven towards over the last 18 months. Especially exciting for us is substantial growth in the numbers of musicians and other entertainers on the FargoTube platform and we expect this growth trend to continue throughout the year."

ABOUT FARGOTUBE

FargoTube (www.fargotube.com) is an online distribution and social-networking platform that is free to musicians, record labels, filmmakers and other content owners, allowing them to upload their music and videos, build a fan site, sell merchandise and connect with their fans through a central service.

ABOUT F3 TECHNOLOGIES, INC.

F3 Technologies (www.f3technologies.com) 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; and Interactive Defense System™, for police and other municipal departments.

Follow us at Twitter.com/f3technologies, Twitter.com/fargotube and f3technologies.wordpress.com.

Forward-Looking Statements
Certain statements in this release 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.

Contact Information

  • Contact
    Paul Campbell
    Chief Operating Officer
    (770) 521-8930