Fortitude Group, Inc. Executes Development Agreement With East Coast Native American Nation
May 23 2014 - 8:46AM
Marketwired
Fortitude Group, Inc. Executes Development Agreement With East
Coast Native American Nation
ERIE, PA--(Marketwired - May 23, 2014) - Fortitude Group,
Inc. (PINKSHEETS: FRTD) announced today that they have executed a
development agreement with an East Coast Native American
Nation.
Under the terms of the agreement, Fortitude shall develop a
white labeled social media aggregator that can be used by the
tribal casino hosts and management to further enhance the casinos
personal profiles of existing high frequency gamblers. In addition,
upon completion, this application will provide the casino a
currently unavailable, real-time tool that can be used to qualify
new player's credit worth and the risk associated with specific
players based on past performance at other facilities. This
application is being developed around the same technology that
powers Fortitudes ShareholderCONNECT application. The proposed
completion and delivery date is June 22, 2014.
Thomas J. Parilla, CEO of Fortitude, stated, "This agreement is
the first of many that we plan on executing over the next
year. The revenue model is based on a per-site-license fee and
the amount of individual records accessed per month. We are
charging an annual per-site license fee of $25,000.00 plus $1.50
per accessed record. Under this announced agreement, the contracted
tribal nation will purchase no less than 100 site licenses with a
data plan of a minimum of 10,000 accessed records per month.
"This is a very exciting revenue model that has a low cost of
entry with a high return on capital. We are in current negotiations
will several other Native American Nations to offer similar
products and hope to announce several executed agreements in the
coming days."
About
Fortitude Group, Inc. is a diversified company with investments
in multiple sectors of the economy targeting joint ventures, wholly
owned subsidiaries and/or majority/minority positions that cross
various market segments with the goal of creating a quality company
that builds intrinsic value for its shareholders.
Forward Looking
Statements
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause the Company's actual
results to differ materially from those projected in such
statements. Forward-looking statements speak only as of the date
made and are not guarantees of future performance. We undertake no
obligation to publicly revise any forward-looking statements.
Contact Fortitude Group, Inc. Investor Relations Phone:
888-447-5501 Email: Email Contact
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