Contact Information: Contact: www.FTSGroup.com Scott Gallagher CEO Voice: (215) 688-2355 e-mail: Email Contact
FTS Group to Report First Quarter Earnings on May 15th
Company Makes $162,500 in Additional Debts Payments During Q1
| Source: FTS Group, Inc.
TAMPA, FL -- (MARKET WIRE) -- May 2, 2007 -- FTS Group, Inc. (OTCBB : FLIP ) an acquisition and
development Company operating in the wireless, technology, and Internet
space, today announced that it plans to report its 2007 first quarter
operating results after the market close on Tuesday May 15th, 2007. FTS
Recently filed 2006 financial results reflecting a 500% year over year
increase in its top line revenue.
FTS Group Chairman and Chief Executive Officer Scott Gallagher commented,
"We now expect to report our Q1 operating results after the market closes
on May 15, 2007. We'll be hosting a shareholder conference approximately 7
to 10 days after the report is filed to provide investors with an update
regarding our business model and other key points of interest." Gallagher
went on to say, "Our operating Companies completed another strong
operational quarter and FTS Group made an additional $162,500 in payments
relating to outstanding debt obligations. We finally released our restated
financials for the previous year of operations including the fair value
calculations for outstanding warrants as now required by GAAP accounting.
These matters have consumed a considerable amount of time over the last
year and I'm personally looking forward to refocusing 100% of my energy
back to the business of FTS. Were working diligently to continue the
tremendous sales and earnings growth trend FTS has experienced since 2003.
We expect FTS Group to be a debt-free Company by the end of the year."
About FTS Group, Inc.
FTS Group, Inc. (OTCBB : FLIP ) is a publicly traded holding company
operating in the wireless, technology, and Internet space through its
wholly owned subsidiaries FTS Wireless, Inc. and See World Satellites, Inc.
and its investments in portfolio Companies. The Company operates through
retail locations in Florida and Pennsylvania and globally over the Internet
through its web sites www.FTSGroup.com, www.CellChannel.com,
www.SeeWorld.biz and www.FTSWireless.com. For additional information about
FTS Group, Inc. or any of its wholly owned subsidiaries please review the
Company's quarterly, annual and other filings with the Securities and
Exchange Commission at http://www.SEC.gov or contact the Company at the e-
mail or phone number below.
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 and 10-K/A 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.