FONU2 Inc.

December 10, 2014 09:12 ET

FONU2 Announces Acquisition of Studioplex City LLC

FT. LAUDERDALE, FL--(Marketwired - Dec 10, 2014) - FONU2 (OTCBB: FONU) (OTCQB: FONU) announced today that it has signed a definitive agreement to acquire Studioplex City LLC, for 2,500,000 shares of FONU's Series B Preferred Shares ($1.00 par value), convertible at a price of $0.10 per share. FONU also announced the appointment of Mr. Jake Shapiro, as Chairman of the Board of Directors.

Studioplex City LLC is a Georgia based film production company. An executed two picture deal with legendary motion picture director Ms. Penny Marshall are among Studioplex City's projects.

Ms. Penny Marshall is an accomplished, award winning television and film actress, producer, and director. Her first film as a Director was Jumpin' Jack Flash (1986) starring Whoopi Goldberg. Ms. Marshall has directed a number of successful feature films, including Big (1988), starring Tom Hanks (the first film directed by a female director to gross over $100 million), Awakenings (1990), starring Robin Williams and Robert De Niro, which was nominated for a Best Picture Academy Award in 1991, A League of Their Own (1992), starring Geena Davis, Tom Hanks, Madonna and Rosie O'Donnell, which also grossed over $100 million, The Preacher's Wife (1996) starring Denzel Washington and Whitney Houston and Riding in Cars With Boys (2001) starring Drew Barrymore.

Roger Miguel, Chief Executive Officer of FONU2, commented, "We are very excited to welcome Studioplex City to the FONU2 family. This acquisition is a major accomplishment for FONU2 and its shareholders. With a number of Ms. Marshall's films grossing in excess of $100 million, this represents a tremendous opportunity for us to work with one of America's top directors. FONU's proprietary social media platform will be instrumental in the marketing of the Company's film projects."

"I am also pleased to welcome Jake Shapiro as Chairman of our Board of Directors. Mr. Shapiro is a veteran financier and serial entrepreneur. He currently serves as Chief Executive Officer of Moon River Studios and has served as a founder or co-founder of several technology and commercial product companies and has helped structure and or finance companies in Asia, South America, Australia, Western Europe, Eastern Europe, and North America. Mr. Shapiro brings a wealth of knowledge and experience in both the capital markets and entertainment industries. He will add tremendous value to our company's future growth."

About FONU2 Inc.:

FONU2 is a social commerce company that provides a precision sales and marketing platform. Functioning like an order reservations and booking system, the FONU2 platform offers members list, buy, sell, and trade services locally in any neighborhood and anywhere in the world. For additional information, visit our website, You can also follow us on our social network, Facebook, Google + and Twitter.

Safe Harbor Statement
 The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.

Contact Information

  • Corporate Relations
    Daniel Wong
    Maximum Performance Advisors