Fonu2, Inc.

December 22, 2014 23:02 ET

Fonu2 Announces Capital Markets Strategic Plan

FORT LAUDERDALE, FL--(Marketwired - Dec 22, 2014) -  Fonu2, Inc. (OTCQB: FONU) (OTCBB: FONU) announced today its capital markets strategic plan. 

Fonu2's objective is to complete the development and launch of the Company's social commerce platform, provide a limited amount of equity for the Company's film project "Effa," as well as utilize the Company's stock to acquire a number of identified synergistic e-commerce companies. In order to achieve its objective, the Board of Directors has approved a one for four hundred (1:400) reverse split for all common and Preferred Shares. The Board of Directors believes this is necessary to utilize the Company's currency to attract long term investors, effect a series of planned acquisitions, and up-list the Company's securities to a more senior market. Fonu2 has opted to not increase its authorized shares, and is considering reducing the authorized stock in the near future. Once effective, the Company intends to apply for listing on the OTCQB (which requires a minimum price of one cent), and if it qualifies, listing on the OTCQX, (which requires a minimum price of ten cents).

Roger Miguel, Chief Executive Officer of Fonu2, stated, "We are passionately committed to an aggressive growth plan for 2015. Through the issuance of shares for capital raising and acquisitions, we expect to create significant accretion for all of our shareholders." Mr. Miguel further added, "We anticipate that the majority of the capital raise in 2015 will be in conjunction with the Company's investment bankers. This is being done to provide growth capital as well as build the Company's institutional shareholder base. Since the announcement of the Penny Marshall project, we have been inundated with excitement and questions due to the extreme high quality of the project and its participants. As the lead production company on the project, I can confirm that we expect to place equity with institutional investors to provide the equity component of the project. In addition to our equity contribution, major films such as this are financed by a combination of state tax credits, domestic and foreign pre sales, gap financing, and other mechanisms. This is an exciting project for us, and we will have a number of strong partners joining us in this important film."

About Fonu2 Inc.:
Fonu2 is a film production and social commerce company that is developing a precision sales and marketing platform that integrates into the social media networks. 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