TAMPA, Fla., June 14, 2005 (PRIMEZONE) -- FTS Wireless, Inc., a subsidiary of FTS Group, Inc. (OTCBB:FLIP), an operator of retail wireless locations that market and sell next-generation wireless products and services, today announced that it will expand operations of its wireless content portal www.CellChannel.com to include pre-paid and post-paid wireless service plans, handsets and accessories beginning in July.
FTS CEO Scott Gallagher commented, "We've received the necessary approvals from our strategic partners and are finalizing plans to expand our handset distribution capacity to our wireless content portal, www.CellChannel.com. We've developed a unique business model for CellChannel that leverages our current retail operations, our call center and the Portal that we believe will increase sales of wireless products across the board, without adding significant increases in fixed expenses." Gallagher went on to say, "On the operational side, we now anticipate a sequential decline in our net loss of 75% or more for Q2 as a result of several cost containment initiatives implemented earlier in the year."
About FTS Wireless, Inc.
FTS Wireless Inc., a wholly owned subsidiary of FTS Group, Inc. (OTCBB:FLIP), 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. 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 http://www.FTSWireless.com or review periodic filings with the Securities and Exchange Commission at http://www.sec.gov.
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 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.