FTS Expects 2004 Revenue in the Range of $700,000 to $730,000 vs. 2003 Revenue of $108,655, an Increase of more than 550% Monday March 7, 6:00 am ET Company Extinguishes 100% of Convertible Debt during First Quarter of 05
TAMPA, Fla., March 7, 2005 (PRIMEZONE) -- FTS Wireless, Inc., a subsidiary of FTS Group, Inc. (OTC BB:FLIP.OB - News), an operator of retail wireless locations that market and sell next-generation wireless products and services, and operates Wi-Fi Hot Spots, today announced that it expects to report 2004 top-line revenue in the range of $700,000 to $730,000 when the company files its form 10K with the Securities and Exchange Commission later this month. FTS also reported today that the company extinguished 100% of its convertible debt during the first quarter of 2005. ADVERTISEMENT
FTS Chairman and Chief Executive Officer Scott Gallagher commented, ``We're proud to announce the following major developments within our company. FTS has now extinguished 100% of our outstanding convertible debt. Our wireless sales have grown over 550% from $108,655 in 2003 to surpass $700,000 for 2004. FTS recently announced record sales for the month of February and expects to surpass that number in March.'' Mr. Gallagher went on to say, ``We continue to effectively execute our operating plans for FTS; eliminating our convertible debt is a major milestone for our company that all shareholders should be pleased with. We expect to continually improve and grow our operating results throughout 2005 towards achieving our ultimate goal of profitability.''
About FTS Wireless, Inc.
FTS Wireless Inc., a wholly owned subsidiary of FTS Group, Inc. (OTC BB:FLIP.OB - News), is an emerging regional operator of retail wireless locations that market and sell next-generation wireless products and services and operates Wi-Fi HotSpots. FTS Wireless currently operates a chain of retail wireless locations in the Florida Gulf Coast region and the Philadelphia suburban market. The company markets and sells products worldwide through its e-commerce sites http://www.CellularDeals.com and http://www.CellChannel.com. For additional information about FTS Group, Inc. or its subsidiary, please visit our web site at http://www.FTSWireless.com or review our periodic filings with the Securities and Exchange Commission at http://www.sec.gov.