LEVITTOWN, Pa., July 20, 2004 (PRIMEZONE) -- FTS Group, Inc. (OTCBB:FLIP) today announced plans to distribute to shareholders a 10% warrant dividend. Shareholders of record will be issued 1 three-year warrant to purchase a share of FTS stock @ $.25 for every 10 shares owned on the record date. Final terms and details of the dividend will be announced pending a final attorney review.
FTS CEO Scott Gallagher stated "The board of FTS is committed to doing everything in our power to preserve and maximize the value of our shares. We're pleased to reward our long term shareholders with this dividend. The dividend and our request to be immediately de-listed from the Berlin-Bremen stock market are actions management has taken to reverse erroneous perceptions about the public market for our stock."
Due to its increased sales volume, FTS Wireless today announced it has been named a Sprint PCS Platinum Partner. Becoming a Platinum partner will increase the gross revenue received on each new wireless activation while giving FTS access to additional revenue generating opportunities.
About FTS Group, Inc
FTS Group, Inc., through its wholly owned subsidiary FTS Wireless Inc., is an emerging regional operator of retail wireless locations that market and sell next generation wireless products and services and operate Wi-Fi HotSpot's. FTS Wireless currently operates a chain of retail wireless locations in several key markets located on the eastern seaboard and globally through its e-commerce site www.SatPhoneCenter.com. For additional information about FTS Group, Inc. or any of its subsidiaries, please visit our website at www.FTSWireless.com or review our 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 undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.