LEVITTOWN, Pa., Aug. 12, 2004 (PRIMEZONE) -- FTS Group, Inc., (OTCBB:FLIP) a publicly traded company operating in the wireless business through its wholly owned subsidiary, Florida based FTS Wireless, Inc., an operator of retail wireless locations that market and sell next generation wireless and VoIP products and services and operate Wi-Fi HotSpot's, today announced a record date of August 27th, 2004 for the distribution of the 10% warrant dividend approved by the board of directors in July.
FTS Group, Inc. will issue stockholders of record at the close of business August 27th, 2004 one three-year warrant to purchase one new share of FTS Group common stock at a set price of $.25 for every 10 shares owned on the record date. If fully exercised, FTS would receive approximately $725,000 in additional acquisition/working capital to further execute its roll-up strategy of the retail wireless business and assist the company with gaining a listing on a national stock exchange such as the AMEX or NASDAQ Small Cap market.
About FTS Wireless, Inc.
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 the Florida Gulf Coast region and the Philadelphia suburban market. The company markets and sells products worldwide through its e-commerce site's http://www.CellularDeals.com and http://www.SatPhoneCenter.com. For additional information about FTS Group, Inc. or its subsidiary, please visit our website at http://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.