Contact Information: Contact: Scott Gallagher CEO 727-417-7807
Internet Real Estate Developer, Elysium Internet Goes Public
Company Plans to Accelerate Launch of Directory Platform and Domain Acquisition Program
| Source: Elysium Internet, Inc.
TAMPA, FL--(Marketwire - March 20, 2008) - Elysium Internet, Inc. (OTCBB : USBFE ), an
emerging direct navigation Internet media Company and formerly a wholly
owned subsidiary of FTS Group (OTCBB : FLIP ), a publicly traded acquisition
and development Company expected to post profitable sales of $28 to $32
Million for fiscal 2008, today announced that it has become a stand alone
public Company effective today.
Elysium Internet Chairman and CEO Scott Gallagher commented, "We believe
the best days of the Internet and domain based industry are ahead of us.
Many of the best ocean front or Park Avenue equivalent Internet real estate
or domain names sit, undeveloped, owned by what are essentially domain day
traders with no intention on developing these premium domains into web
based businesses. We believe a limited opportunity exists to capture a
larger piece of this Internet real estate and develop it into profitable
business that will generate cash and growth for years to come. Over the
last few years Elysium Internet has built what we believe to be the best
portfolio in the world for certain specific niche Industries. As a stand
alone public Company we'll continue acquiring the best Internet real estate
in the world and build a profitable Company committed to delivering the
absolute best user experience on the Internet with every site we launch."
Gallagher continued, "Speaking from an FTS perspective, we've created
valuable assets which will help eliminate the short term oriented debt
holders that are causing so much damage to our Company and its stock price.
We started the week as a $7 Million company and we'll end the week as a $30
Million Company, yet our stock is cut in half. We issued no shares for the
OTG deal and expect the Elysium deal to, at a minimum, double our
stockholders' equity. If these funds continue to sell shares in a Company
that will do $30 Million in sales while the market cap is around $1 Million
I'd have to question how they became fund managers in the first place, I
was one and it doesn't make sense. We are exploring all options to protect
shareholder value and limit this type of selling."
Terms of the transaction include Elysium issuing FTS an interest bearing
note for $1.5 Million and issuing FTS Group preferred shares convertible
into 60% of Elysium Internet. Elysium will immediately apply to NASDAQ for
a name change and symbol change and file an 8K within 4 business days.
If you have a domain name or domain portfolio for sale please forward the
details and names to Scott Gallagher at ElysiumInternet@aol.com
About Elysium Internet, Inc.
Elysium Internet, Inc. (OTCBB : USBFE ) (Pending name change) is an emerging
direct navigation online media Company. Its domain assets include:
TheDirectory.com, Therapists.net, SecuritiesAttorney.net, SECLawyer.com,
NevadaLawyer.com, LocalAttorney.net, LocalOBGYNs.com, LocalPhysician.com,
Passenger.net, eBoxing.com, TheFund.net and many others. The Company is in
the process of developing several proprietary direct navigation ad
platforms. For additional information about Elysium Internet, Inc. please
review the Company's quarterly, annual and other 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, general economic conditions affecting consumer
spending, including uncertainties relating to global political conditions.
Information with respect to important factors that should be considered is
contained in the Company's Annual Report on Form 10-K and 10-K/A 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.