SOURCE: Phantom Fiber Corporation

June 25, 2008 08:05 ET

Phantom Fiber Completes Integrated GTS Mobile Platform for FX Solutions

NEW YORK, NY--(Marketwire - June 25, 2008) - Phantom Fiber Corporation (OTCBB: PHFB) today announced a multi-year contract to deliver an integrated mobile solution for FX Solutions, LLC's (www.fxsolutions.com) proprietary Global Trading System (GTS Mobile). Phantom Fiber has received a one-time facilitation fee and will receive ongoing transaction fees throughout the life of the contract. GTS Mobile was successfully introduced to clients on June 3, 2008 and is fully operational.

Jeff Halloran, CEO of Phantom Fiber, stated, "This project is significant to Phantom Fiber Corporation for several reasons. First and foremost, earlier this year we announced our intention to focus on the financial sector. Implementing this project for FX Solutions in such a short timeframe validates the distinct benefits inherent to our mobile platform. Second, it was also an important step towards diversifying our revenue stream while maintaining our core commercial terms, which provide us with ongoing transaction revenue from our partners."

Mr. Halloran added, "Additionally, the product demands of the financial sector will also better demonstrate the many features of our platform, which are not as key in the gaming and entertainment sectors. FX Solutions has provided a vote of confidence in our mobile platform. In return, the GTS Mobile platform is now providing FX Solutions' clients with access, through their mobile devices, to most of the functionality and features traders have come to expect in the GTS Pro and GTS Web platforms. Our mandate was to draw FX Solutions' functional requirements into a seamless mobile solution, providing users with key levels of functionality, inclusive of entering pending trades and market orders, accessing news, monitoring currency pairs, and full account information."

Robert Cortright, Managing Partner of FX Solutions, stated, "With Phantom Fiber we can extend our platform to more customers in more places, and with most of our current features and functionality. The mobile solution, which integrates directly into our GTS trading platform, is the next generation of technology for FX Solutions and demonstrates our commitment to bringing new and useful functionality to our client base. After reviewing a number of mobile providers in today's market, we recognized that Phantom Fiber was the best choice to be our partner."

GTS Mobile operates on over 1,200 device types, including Java phones, Blackberry, Palm, Microsoft PocketPC and Smartphone-based handheld devices from anywhere in the world and supports multiple languages.

To sign up for FCI News Alerts or to review additional information for Phantom Fiber, including a downloadable investor fact sheet, please visit www.firstcapitalinvestors.com.

About Phantom Fiber Corporation

Phantom Fiber Corporation (OTCBB: PHFB) is a leading developer of wireless platform software that enables its customers to deliver high-performance applications across global communications networks to mobile users. Their wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to over 1,500 mobile devices including cellular phones and PDA's. This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote video surveillance; banking and brokerage applications; as well as the logistics and distribution markets. For more information about Phantom Fiber, please visit our web site at www.phantomfiber.com.

About FX Solutions

FX Solutions is a leading US-based online foreign exchange broker serving both retail and institutional customers. The Company provides IBs and White Label Partners FX trading and risk management in over 100 countries through its Global Trading Systems (GTS) platform. Regulated by the CFTC and NFA, FX Solutions' custom-engineered suite of applications includes one-click trading, automated execution of orders, a proprietary price feed and competitive fixed-spread pricing -- resulting in consistently low executable spreads. FX Solutions has websites and complete customer support in four languages.

Forward-Looking Statements:

In this press release we make "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate," "could," "potential," "opportunity," or similar terminology. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of future results or performance. Actual outcomes may differ materially from those projected in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; material adverse changes in economic and industry conditions in our markets; technological change; retention and renewal of existing contracts; availability and adequacy of cash flow to satisfy obligations and indebtedness or future needs; protection of intellectual property; security and integrity of software and systems; laws and government regulation, including those relating to gaming licenses, permits and operations; seasonality; dependence on suppliers and manufacturers; factors associated with foreign operations; dependence on key personnel; failure to perform on contracts; resolution of pending or future litigation; labor matters; and stock price volatility. Additional information regarding risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC, including our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date they are made, and except for our ongoing obligations under the U.S. federal securities laws, we undertake no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

Contact Information

  • For further information, please contact:

    Phantom Fiber Corporation
    Investor Relations
    First Capital Investors, Inc.
    (321) 221-2910
    Email Contact