SOURCE: FONU2 Inc.

FONU2 Inc.

July 08, 2014 09:15 ET

FONU2 Update on Acquisition Status

FONU2 Continues Its Search for Acquisition Partners and Enhances Their Social Commerce Platform

FORT LAUDERDALE, FL--(Marketwired - Jul 8, 2014) - Fonu2 (OTCBB: FONU) (OTCQB: FONU) reported today that during the past two months they have been focusing on finding an acquisition partner and are making good progress.

Over the past month the company has looked at hundreds of candidate companies and has selected a few candidates to pursue in depth. At the moment Fonu2 is still searching, however, the company has a few good candidates that the company is talking to.

The company has two objectives to fulfill with the acquisition:

1. To acquire a strategic partner that can greatly accelerate its growth and help the company transform itself as its focus changes from developing the platform to operations and marketing. Ideally, FONU2 is seeking well-established information technology services and/or SEO marketing company.

2. To acquire a growing company that has a solid track record of revenue growth, healthy earnings and free cash flow.

Currently, the company is still making progress on its development of their Social Media platform. The company has decided to defer the kick-off of its advertising campaign until after the acquisition is compete and a few key enhancements are made to the site. 

Improvements that are scheduled to be implemented in the next release include:

  • expansion of payment options to include Paypal (in addition to Amazon)
  • social media integration to Facebook and Pinterest
  • expansion of product delivery and shipping services

The company is also working with 3rd parties to supply a Prepaid Debit Card and a Mobile App.

The site is operational and you can take a free FONU2 test drive at www.fonu2.org

About FONU2 Inc.:
FONU2 is a social commerce company that provides a precision mobile sales and marketing platform that functions like an order reservations and booking system. Members via their mobile phones and computers list, buy, sell, and trade services and items locally in any neighborhood, anywhere in the world. For additional information, visit our website, www.Fonu2.com. You can also follow us on our social network, Facebook, Google + and Twitter.

The initial version of our social commerce website can be found at http://fonu2.org where visitors can sign up to become members for free and take a test drive.

Safe Harbor and Informational Statement

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's registration statement and reports filed with the SEC. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.

Contact Information

  • Contacts:

    Corporate Relations
    Daniel Wong
    Maximum Performance Advisors
    858.381.4677

    Investor Relations
    Mark Kabbash
    EquityGroups
    646.408.2661