SOURCE: Getfugu

Getfugu

September 08, 2010 08:00 ET

Getfugu Issues Letter to Shareholders

LOS ANGELES, CA--(Marketwire - September 8, 2010) -  Getfugu (OTCBB: GFGUE)

Dear Shareholder;

Thank you for the patience and support you continue to demonstrate on Getfugu's behalf. Here is a recap of several recent events.

  • Revenue: Our audit for the quarter ended June 30, 2010 has been filed. We are pleased to announce $320,000 in revenue. This revenue is the result of keyword sales (spread over a 24 month period) and represents the first declared revenue for Getfugu. In addition, we enrolled over 400 businesses to ARL products during the first 45 days of our sales effort.

  • Work has begun on improving our bottom line. Getfugu made considerable progress during the last quarter by paying off over $300,000 in debt. This will continue to be a focus into the future.

  • We have successfully completed the build out of our commercial product. Both client and server platforms are in place and stable, enabling us to drive revenue. While improvements will always continue, we are realigning the organization to more of a sales based focus.

  • We are effectively positioning Getfugu in the market as an aggregator of technology. Getfugu has been approaching several leading technology companies within the AR community regarding inclusion of their technologies into the New Getfugu distribution platform. During the coming quarter, we will be adding several new technologies to the platform. Upcoming features include music, barcode, QR and live feature tracking. Our goal is to make AR browsing more seamless for the consumer.

  • Finally, we have successfully defended a frivolous lawsuit. On August 26, 2010, the US District court threw the civil RICO case out. After a detailed and thorough review of all the allegations, the judge has found that the plaintiffs' RICO claims never even should have been filed. We have since filed a claim against the parties (and their attorneys) and will vigorously pursue and hold them accountable for the damages they have caused to Getfugu.

This has been very challenging for Getfugu, and yet in spite of the difficulties, Getfugu continues to grow. We are excited about the potential of the market.

During the coming quarter we look forward to signing new distribution deals designed to increase the number of users as well as businesses subscribing to the Getfugu ARL product. Finally, we will begin work on cleaning up the company's balance sheet and dealing with unpaid development expenses.

Sincerely,

Carl Freer Richard Jenkins
President and Founder Chief Executive Officer

About Getfugu: Getfugu, Inc.'s revolutionary "See It, Say It, Get It" technology is the first carrier agnostic, platform agnostic mobile search platform. Getfugu will change the way people access the web with their mobile phones. It is designed to facilitate and encourage users by integrating the mobile phone's core strengths -- image, voice and location recognition -- into a single customizable application. Additionally, Getfugu offers the only mobile e-commerce platform available worldwide today. The Getfugu platform will soon be available for 97% of the mobile phones available (over 3.3 billion handsets) worldwide.

For more information on Getfugu, please visit our website at: www.Getfugu.com

Forward-Looking Statements
Except for statements of historical fact, the matters discussed above are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, intense competition, and difficulty in developing, exploiting and protecting proprietary technologies; as well as additional risks factors discussed in the reports filed by the company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov. Except as required by law, the company undertakes no obligation to update any information.