SANTA MONICA, Calif., Nov. 3, 2006 (PRIMEZONE) -- David R. Goddard, CEO of FutureVest, Inc. (Pink Sheets:FRVT) issues a letter to the shareholders.
Dear Shareholders,
I would like to personally thank each and every shareholder as a member of the FutureVest family for their support this past year. As you know, we have entered into an exciting period in our 20-year history and are poised for significant growth in the years to come.
We have hired additional management and focused our attention on our core industries to allow the public markets to better understand our story and give our portfolio companies a strong foundation for future growth. We believe these developments have enabled FutureVest to become an important and reliable competitor in the venture and growth capital markets.
I would like to take this opportunity to update you on several developments within our company:
First, and most importantly, FutureVest is committed to bring the highest level of professionalism and responsibility when investing your capital. We remain focused on investing in important new environmental technologies, paradigm shifting software companies and new media and online services. Currently we are aggressively looking to add leading global technology companies to our portfolio.
We have reaffirmed our policy to protect our capital by taking a control position in our new investments. At the same time, we give our management teams ample incentives to grow their business and earn additional equity through our stock repurchase programs. We are active investors and provide our portfolio companies with a suite of venture services to assure their success and to allow our management teams to focus on building revenues and developing products.
As a public company, we are uniquely positioned to control the timing of a public market exit for our new portfolio companies. We actively seek Mergers & Acquisitions to further monetize our investments and provide additional growth opportunities.
Other developments include:
-- Formation of our Venture Portfolio Group to manage our
majority-controlled investments and to assure proper and consistent
financial reporting for these consolidated companies. We currently
have three companies in this group:
-- StockPicks.com Corporation (www.StockPicks.com)
-- StormWorks New Media Corporation (www.StormWorks.com)
-- Izecom, Inc. (www.Izecom.com)
-- We also formed our Investment Portfolio Group to manage our
marketable securities and minority controlled investments. We
currently have two investments in this group:
-- CipherPass Corporation (www.CipherPass.com)
-- SolutionNET Technology Corporation (www.SolutionNET.net)
-- We have established a Share Dividend Program to manage each
portfolio company liquidity event. In this program, we propose to
allocate a portion of our controlling stock position to our
shareholders in the form of a dividend.
An important goal for FutureVest is to expand our shareholder base by providing above average returns and liquidity to our shareholders. By so doing, it is our hope that our shareholders will enjoy capital appreciation from their long-term holdings in FutureVest while achieving additional gains from their allocation of dividends from each exciting portfolio company listing. Towards this end we will make every effort to insure each company can stand on its own with predictable financial performance and positive earnings per share before being individually listed in the public markets.
Over this past year we have achieved important new milestones: FutureVest shares currently trade at a 52-week high of $2.60 and our net asset value now exceeds $30 million (valued by current company management). We are currently in the process of completing of our two-year audit and anticipate listing our shares on a recognized global stock exchange in the first quarter of 2007.
As we move forward we will continue to provide a business model, which is both diverse and rewarding for shareholders and provides complete and timely information about our company.
We ask you to visit our website at www.FutureVest.com and register to receive our shareholder / investor newsletter.
Warm Regards, David R. Goddard, CEO FutureVest, Inc.
About FutureVest, Inc.
FutureVest is currently listed and traded over-the-counter under the symbol "FRVT." FutureVest is a Venture Investment Company that makes strategic investments in entrepreneurial ventures and small/medium-sized companies in a variety of industries worldwide. FutureVest has two interconnected working segments, Capital Investments and Venture Services, which provide the necessary resources to assist in growth and success of its portfolio of investments.
This press release may contain forward-looking statements. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made to involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.