Future Now Group Inc. Announces Completion of Reverse Merger with Future Now, Inc.
31 Octubre 2007 - 7:55AM
PR Newswire (US)
BROOKLYN, N.Y., Oct. 31 /PRNewswire-FirstCall/ -- Future Now Group
Inc. (the "Company") (OTC:FUTR) (BULLETIN BOARD: FUTR) (Frankfort
Exchange: 3FN.F) is pleased to announce the completion of its
acquisition (the "Acquisition") of Future Now, Inc. ("Future Now"),
and its wholly owned subsidiary Intellectual Property Licensing
Group, Inc. ("IPLG"). The effective date of the Acquisition was
October 30, 2007. The Acquisition was accomplished through a
reverse merge transaction whereby the Company acquired 100% of the
outstanding common stock of Future Now and the existing management
of Future Now took control of all operations of Company and the
Board of Directors. Mr. Gordon Samson, the former President of the
Company resigned, and a new Board was elected which consists of
Jeffrey and Bryan Eisenberg, Future Now's founders, and William
Schloth, Future Now's Chief Financial Officer. In connection with
the Acquisition, the Company issued 50,394,190 shares of its
restricted common stock to the holders of Future Now and closed, a
concurrent new financing of $2,000,000 Face Value Convertible
Debentures and Warrants to Purchase the Company's Common Stock
(collectively, "New Financing"). After the close of the Acquisition
and New Financing a total of 71,242,191 shares of common stock will
be outstanding. Southridge Investment Group LLC, a FINRA registered
broker dealer and Future Now's investment bankers, assisted with
the closing of the Acquisition and New Financing. Jeffrey
Eisenberg, CEO and President of Future Now, said, "We are pleased
to have completed this transaction. This is a significant milestone
for us and much like Offermatica and Visual Sciences are striving
to create shareholder value in all that we do. With the online
advertising market projected to more than quadruple over the next
five years to $82 billion worldwide, we believe we are well
positioned for the future." Future Now provides software as service
and professional services, based on a widely recognized unique
intellectual property framework, for businesses to generate more
revenue from their online efforts, converting existing website
traffic into leads, subscriptions or sales. The Company's software
and intellectual property framework, Persuasion Architecture(TM),
combines web analytics, testing and search with marketing planning.
This creates an online environment where businesses more easily
plan for different customers behaviors, and more intelligently test
against these behaviors to further reach their customers needs. The
approach allows companies to scientifically measure and improve the
results of their marketing initiatives that directly translates to
better returns from their online efforts. This approach discovers
their customer motivations, plan them and optimize them based on
predictive modeling. Future Now is developing complimentary
software and service offerings to enhance the value of multivariate
testing tools, web analytics, content management and search engine
optimization applications offered today. Applying Persuasion
Architecture to these applications in order to deliver more
accurate, quantifiable and actionable results. These new
applications are targeted to broader audiences that will now be
able to take advantage of Future Now's intellectual property.
Notice Regarding Forward Looking Statements. This press release
includes certain "Forward-Looking Statements" within the meaning of
section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding potential results and future plans and
objectives of Future Now Group Inc. are forward-looking statements
that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from our expectations include,
but are not limited to, those factors that are disclosed under the
heading "Risk Factors" and elsewhere in our documents filed from
time to time with the Securities and Exchange Commission. Other
risk factors may include, but are not limited to, fluctuation in
quarterly results, and increased competition in our operations, our
ability to continue operations as scheduled, and our ability to
protect the proprietary technology we use. Further, the company
operates in an industry sector where securities values are highly
volatile and may be influenced by economic and other factors beyond
the company's control, such as announcements by competitors and
service providers. The contents of this press release are presented
as a general overview of the company. It is intended only to
contain general information regarding the company and its business
and does not purport to provide complete disclosure or analysis of
all matters, which may be relevant to a decision to make an
investment, including all risk factors or similar considerations.
Although the information is believed current as of the date herein,
the information may be subject to change, amendment or
supplementation, and the company does not expect, and assumes no
obligation, to update or otherwise revise the information herein.
Company Contact: William E. Schloth Phone: 877-643-7244 Ext. 370
Email: DATASOURCE: Future Now Group Inc. CONTACT: William E.
Schloth of Future Now Group Inc., +1-877-643-7244 Ext. 370, Web
site: http://www.futurenowinc.com/
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