Software as a Service provider, F3 Technologies, Inc., Updates its Valued Shareholders. ‘Reducing Authorized Shares by 86 ...

ALPHARETTA, GA – ACCESSWIRE - F3 Technologies, Inc., (OTC Markets: FTCH), a Software as a Service (SAAS) company engaged in mobile and cloud based, software as a service platforms for certain key industries, is pleased to issue this update to the investment community.

As most of you know 2011 and 20012 began a difficult cycle for F3 Technologies with the impact of a distressed global economy causing many companies to redefine their concept of success as mere survival. As the economy moves forward into what appears to be a modest upswing, we at F3 are cautiously optimistic and are determined to emerge from economic downturn as a leaner, stronger and more competitive SAAS provider.

On September 5, 2013 Jeffrey S. Cosman took over the operations of F3 as the CEO and majority shareholder and immediately hit the ground running, while personally investing his own capital in the future of F3. In his first 3 weeks as the new CEO of F3, Jeff has completely revitalized the efforts and determination to see F3 become a success in 2013.

Since taking over, F3 has;

- Executed documents to reduce the authorized shares from 3,002,000,000 to 402,000,000 which is an 86% reduction

- Eliminated roughly $460,000 worth of debt owed to the former CEO

- Acquired cConnects and cDetails platforms from COVI Point, LLC

- Maintained its current share float of roughly 7,500,000 common shares

- Hired 4 new additional programmers to complete IDS by late November

- Signed an NDA with a $35 billion dollar company to discuss and conduct due diligence on cConnects

- Filed all delinquent past quarterly reports with OTC Markets

- Filed all annual financial reports with OTC Markets

- Brought OTC Market status up from “Stop Sign” to “Yield Sign” and is seeking to go “ PS Current Filer”

- Signed Agreement with majority debt holder to eliminate Warrants due which may have resulted in the issuance of hundreds of millions of shares, significantly reducing its potential dilutive liabilities.

…All this in the first 3 weeks.

“The first few weeks activities were all contemplated to strategically position F3 for immediate financial success with a goal of shareholder value appreciation. It is imperative that we work to significantly increase shareholder value with a vision that the F3 stock be as attractive as cash to potential acquisition candidates already targeted.” Stated Jeffrey Cosman, CEO of F3 Technologies, Inc.

…In the next few weeks F3 intends to;

- Undergo a name and ticker symbol change to more accurately reflect the new direction of the company

- Engage an auditor and legal counsel for the purposes of moving to the OTCQX, OTCQB or better

- Enter into an LOI with and announce F3’s second acquisition target

On April 2, 2013, the U.S. Securities and Exchange Commission issued guidance permitting companies to use social media sites including Facebook Inc. (FB) and Twitter Inc. to communicate company announcements F3 encourages the investment community to follow all F3 developments as it starts its practice of releasing news and other financial and product updates on its Facebook page at https://www.facebook.com/pages/F3-Technologies/461042987299984as well as its Twitter feed at https://twitter.com/f3technologies.

ABOUT F3 TECHNOLOGIES, INC. F3 Technologies is Software as a Service (SaaS) platform provider that creates mobile and cloud based platforms and applications for industries ranging from law enforcement and municipalities to entertainment and B2B enterprises. Its products includes; Interactive Defense System ^TM, for law enforcement and other municipal departments; cConnects^TM, for efficient communication and fleet/asset management using mobile and web based portals; and FargoTube^TM (http://www.fargotube.com), a scalable and mobile platform for online distribution and social networking of entertainment professionals and their content.

Forward-Looking Statements

Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update forward-looking statements as the result of new information or future events. We urge investors to review the risks and uncertainties within its filings with the OTC Markets and/or Securities and Exchange Commission.

Contact

678 871 7457

Jeff Cosman, CEO

Source: F3 Technologies, Inc.

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