About FTS Group, Inc. FTS Group, Inc. (
Contact Information: Contact: www.FTSGroup.com Scott Gallagher CEO Voice: (215) 688-2355 e-mail: Email Contact
FTS Sets Closing Date for Ring Tone Network Acquisition
| Source: FTS Group, Inc.
TAMPA, FL -- (MARKET WIRE) -- January 25, 2007 -- FTS Group, Inc. (OTCBB : FLIP ), an acquisition and
development Company operating in the wireless, technology and Internet
space, today announced that it has set January 31, 2007 as the scheduled
closing date for its acquisition of a profitable ring tone network.
FTS Group Chairman and Chief Executive Officer Scott Gallagher commented,
"We expect to close the acquisition of the profitable ring tone network
consisting of 161 operating web sites and domain names on January 31
pending completion of our due diligence. The ring tone network acquisition
is a key part of our strategy to grow FTS Wireless and diversify its
revenue stream into Internet wireless phone and accessory sales and mobile
content." Gallagher went on to say, "I'd like to clarify a statement in our
press release of January 23, 2007, stating that FTS will post 'EBITDA well
in excess of $300,000.' We expect to post 2006 EBITDA well in excess of
$500,000 for fiscal 2006. I apologize for any confusion caused by the
statement. FTS had a very strong Q4 at both of our operating subsidiaries
FTS Wireless and See World Satellites. We hope to report preliminary year
end numbers in the relatively near term as we have begun our audit related
work."
About FTS Group, Inc. FTS Group, Inc. (OTCBB : FLIP ) is a publicly traded holding company
operating in the wireless industry through its wholly owned subsidiaries
FTS Wireless, Inc. and See World Satellites, Inc. The Company operates
through retail locations in Florida and Pennsylvania and globally over the
Internet through its web sites www.FTSGroup.com, www.CellChannel.com and
www.FTSWireless.com. 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.
About FTS Group, Inc. FTS Group, Inc. (