LOS ANGELES, March 8, 2005 (PRIMEZONE) -- FutureVest, Inc. (Pink Sheets:FTVT), today announced that it has incorporated SolutionNET Technology Corporation ("SolutionNET Technology") on March 1, 2005 and will begin an immediate Venture Banking Contract with the shareholders of four separate SolutionNET branded operating entities. The consolidation of these operations under the new umbrella of SolutionNET Technology is a focused effort to ensure operational effectiveness.
The consolidated SolutionNET Technology will immediately complete its 2-year audited statements for each operating subsidiary and file its SB2 registration statement with the Securities and Exchange Commission as it plans for its IPO in late 2005 or early 2006. After the consolidation and audits are completed SolutionNET Technology anticipates that it will have consolidated 2003 and 2004 revenues of $5.4 and $6.1 Million and net operating profit of $237,000 and $373,000 respectively and the company is currently on course to come close or exceed its projected 2005 consolidated revenues and net operating profit projections. (These numbers are unaudited and are subject to audit review).
SolutionNET Technology will consolidate the following SolutionNET branded operations:
-- SolutionNET USA with offices located in Princeton, New Jersey;
Wilmington, Delaware; Pittsburgh, Pennsylvania; Portland Maine
and Houston, Texas.
-- SolutionNET Australia with offices located in Sydney, Australia.
-- SolutionNET India with offices located in Chennai, Mumbai
and Bangalore.
-- SolutionNET Asia Pacific business operations with offices in
Singapore and Dubai of the United Arab Emirates.
SolutionNET Asia Pacific operates as a wholly owned subsidiary of SolutionNET International, Inc. (Pink Sheets:SLNN). SolutionNET International, Inc. will exchange all the business operations and assets of SolutionNet Asia Pacific for an investment stake in SolutionNET Technology. The other three SolutionNET operations are privately funded entities at this time.
SolutionNET Technology is a global provider of integrated IT solutions and consulting services. In addition to being a global IT outsourcing service company SolutionNET will also manufacture and distribute a suite of proprietary software solutions and Intellectual property including ENet -- (Internet Banking) and IDM -- (Intelligent Data Mapper). The consolidated company will have current human capital totaling over 175 employees and qualifies as an ISO-9001:2000 certified company.
FutureVest will add SolutionNET Technology to its Venture Banking and Investment "VBI" portfolio company and FutureVest intends to acquire an initial equity stake in the company. For more information on SolutionNET Technology Corporation please refer to the company's website at www.SolutionNET.net or www.FutureVest.com under the Investment Portfolio section.
About FutureVest, Inc.
FutureVest, Inc. currently traded on the OTC under the symbol "FTVT", is a global venture banking and investment company dedicated to provide innovative, professional financial services to emerging growth private and public companies in the small and micro-cap markets. FutureVest in additional to is services may acquire an equity stake in its Venture Banking and Investment "VBI" portfolio of companies. For more information please refer to the company's website: www.FutureVest.com
Statements in this release are "forward-looking statements". Investors are cautioned that such forward-looking statements involve risk and uncertainties including, without limitation, acceptance of the company's products, significant levels of competition for the company and dependence on the performance of the management of the company.