FNTN is already on the road to success and has given many clues to this effect, but until the INTRANET is fully completed, there is much info regarding existing contracts that will not be revealed until then.
Since Oct 23, 1997 FNTN had signed 20 broker/dealers during that date. Many more should be signed by NOW. And as you see Empire Financial Group is more than a client of IDB be is a client of FNTN. It appears that Empire Financial Group still counts as one:
>>The company has signed some 20 broker/dealers for enhanced communication services. These contracts, on an annualized basis, will result in $200,000 in revenue for Financial Intranet.
Among the largest of the broker/dealers that have joined the company's distribution network is Empire Financial Group Inc., Longwood, Fla., a national and international discount broker/dealer.<<
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NEW YORK--(BUSINESS WIRE)--Oct. 23, 1997--Financial Intranet Inc. (OTCBB:FNTN), a network developer of intranet and internet services, announced that network operations started on Oct. 1, 1997.
The company has signed some 20 broker/dealers for enhanced communication services. These contracts, on an annualized basis, will result in $200,000 in revenue for Financial Intranet.
Michael Sheppard, president and chief operating officer for Financial Intranet, projected that the company will generate some $600,000 in annualized revenues by Dec. 31, 1997 and approximately $15 million in revenues in 1998.
Among the largest of the broker/dealers that have joined the company's distribution network is Empire Financial Group Inc., Longwood, Fla., a national and international discount broker/dealer.
Sheppard said Financial Intranet is generating revenues by providing additional sales and cost savings to mutual funds, broker/dealers, certified financial planners, investment advisors and all members of the futures community.
Financial Intranet offers a means for mutual funds to reach a captive broker/dealer community to train and distribute their products nationally and internationally at a reduced cost. In addition, the broker/dealer community receives a reduction in communications costs, educational training costs and is provided with new customer lead flow. The company also offers a complete range of comprehensive on-demand financial services which include interactive video-on-demand, communications, training, storage of information, and data exchange including real time financial, technical and all other relevant information for participating mutual funds, broker/dealers and futures/commodities members.
This release contains forward looking statements within the meaning of Section 27a of the Securities Act of 1993, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward looking statements as a result of various factors.
Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract new customers and effectively compete against other providers of communications services.
CONTACT: Martin E. Janis & Co. Public Relations, Chicago
Hal Schweig, 312/943-1100 |
