FTS Group Reduces Acquisition Related Debt by $279,345 in October
TAMPA, FL -- (MARKET WIRE) -- October 31, 2006 -- FTS Group, Inc. (OTCBB: FLIP), an acquisition and
development Company, today announced that it has completed $279,345
acquisition related debt payments during the month of October.
FTS CEO Scott Gallagher commented, "We continue to reduce our acquisition
related debt utilizing cash flow whenever possible. With October's $279,345
cash payments FTS has now reduced its debt obligations by more than $2.85
Million during the first 10 months of the year." Gallagher went on to
state, "Our balance sheet continues to improve, our sales and earnings
continue to grow and our future looks very bright."
About FTS Group
FTS Group, Inc. (OTCBB: FLIP), is a publicly traded holding company
operating in the wireless industry through its wholly owned subsidiaries
FTS Wireless, Inc and See World Satellites, Inc. The Company operates
through locations in Florida and Pennsylvania, and globally over the
Internet through its web sites: CellChannel.com, SeeWorld.biz and
FTSWireless.com. For additional information about FTS Wireless, Inc., See
World Satellites, Inc. or FTS Group, Inc., please review the Company's
quarterly, annual and other filings with the Securities and Exchange
Commission at http://www.SEC.gov, or contact the Company at the e-mail or
phone number below.
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
reliance on these forward-looking statements, which speak only as of the
date hereof.