SAN JOSE, Calif., Feb. 19, 2003 (PRIMEZONE) -- IPOdesktop.com, in a continuing series of Internet radio reports featuring Federal Security Protection Services, Inc. (OTCBB:FSPS), today interviewed President and CEO Gary O'Neal about the firm's growth criteria as he visits with OEM companies as well as potential funding sources in the California area this week.
Headquartered in New Orleans, FSPS, Inc. is a secure Internet Protocol ("IP") network services provider and full-service managed security services company, marketing its products and services to other IP-based service providers, systems integrators and the enterprise market.
IPOdesktop.com editor Francis Gaskins interviewed the CEO. It may be heard on Windows Media at http://gaskinsco.com/fsps3.asx or on Real Audio at http://gaskinsco.com/fsps3.ram.
During the interview, O'Neal expands on his recent visit to the Denver area, indicating that he anticipates the company will either acquire or have entered into letters of intent to do so within the next 90 days. He indicates that one of the two privately held companies is focused on security as it affects both local and wide area networks. The other company is involved in video surveillance and physical security installation.
The overall general criteria for the company, says O'Neal, are focused on companies that are going concerns, have positive cash flow, a sizable customer base and good will that extends to both customers and vendors. The CEO said the company often finds potential partner companies through referrals from investment bankers and private investors, recommendations of its Board members, the company's own due diligence, as well as its being approached directly by companies seeking to be acquired as part of their growth plan.
"As we've said before," O'Neal notes, "the exit strategy for these companies is truly an entrance strategy, because we offer the potential for continued growth through additional capital infusions as a public company, and provide them the opportunity to become part of a larger entity with significantly greater growth prospects."
In an earlier interview, available on http://gaskinsco.com/fsps.asx or on Real Audio at http://gaskinsco.com/fsps.ram, O'Neal chronicles the company's goal to provide turnkey approaches to multinational clients concerned with providing secure services for their clients. He says network development will concentrate on small to mid-size cities in the U.S. and internationally in countries where technology is less developed.
Certain information and statements included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward looking statements.
Further information on the company is available at its web site at www.fspsinc.com.