nFüsz Announces Execution of Merger Agreement
Files Quarterly Report For the Third Quarter of 2018CEO to Provide Company Update and Detail Progress Toward NASDAQ Uplisting
HOLLYWOOD, Nov. 15, 2018 (GLOBE NEWSWIRE) -- nFüsz, Inc. (OTCQB: FUSZ ), a leader in business-focused interactive video, and the pioneer of Augmented Sales Intelligence software, announced the execution of a definitive agreement to acquire Utah-based Sound Concepts, Inc., a leading provider of SaaS-based sales, lead-gen, and customer relationship management applications for the direct sales, network marketing and affiliate marketing industries. Sound Concepts customers include 75 of the top direct sales organizations with more than 490,000 paying users in over 48 countries. This transaction represents the completion of another important milestone in the continued execution of nFüsz’s strategy to uplist the Company to NASDAQ. The details of the merger agreement are set forth in the Form 8-K filed on November 14, 2018. Closing of the transaction is expected to occur in or about January 2019.
“The nFüsz and Sound Concepts businesses are highly complementary,” said Rory Cutaia. CEO of nFüsz. “We believe the combination of our technology, customers, and human capital will result in growth for the combined companies. We could not be more excited to join the two teams to deliver innovative solutions to the market.”
The Company also filed yesterday its Form 10-Q, reporting results for the period ending September 30, 2018, as well as an Information Statement on Schedule 14C. The Schedule 14C, filed as part of the strategy for the planned NASDAQ uplisting, states that the Company has obtained shareholder approval to initiate a reverse stock split at any time over the next 12 months, as determined by the Board of Directors and the Company’s underwriters within a ratio range of 1-for-5 to 1-for-40. The Company obtained shareholder approval for a possible reverse stock split to be employed as needed to ensure that the Company meets all of the listing requirements for NASDAQ.
“As I’ve said repeatedly, our focus is singular; to grow shareholder value. To obtain the type of value creation we require for our stockholders and ourselves, and as we execute our revenue generating initiatives, we want to make sure our shares are attractive and available to institutional investors through a broad range of broker dealers across the country, most of whom are only able to invest in companies whose securities trade on a listed exchange such as NASDAQ or NYSE. With the execution of the merger agreement with Sound Concepts and the continuing execution of the growth plans for what will be a combined business and market leader in the sales software sector, we are successfully completing and achieving the milestones needed to effectuate our uplisting to NASDAQ,” concluded Cutaia.
nFüsz CEO, Rory J. Cutaia, will deliver a comprehensive video update to stockholders, covering the information set forth in yesterday’s filings, among other topics of interest to nFüsz investors. The update will be posted on the Company’s website at www.nFüsz.com at 2:05 pm PST on Monday, November 19, 2018.
About nFüsz, Inc. nFüsz, Inc. (OTCQB: FUSZ) is a recognized leader in business-focused interactive video and the pioneer of Augmented Sales Intelligence software. The company’s flagship product, notifiCRM, is the first interactive video-based customer relationship management (CRM) platform that allows anyone to create, distribute, post, track, and measure interactive videos that increase engagement and conversion rates by up to 600 percent. Video viewers can respond to one or more calls to action by clicking within a video while it’s playing – and no download is required. nFüsz products are cloud-based, Software-as-a-Service (SaaS), available by subscription for individual and enterprise users, and accessible on all mobile and desktop devices. The company’s newest products, also based on its interactive video technology platform, include notifiMED, for the healthcare industry, notifiEDU, for the education industry, and notifiNGO, for non-profit organizations. For more information on nFüsz, Inc., visit: www.nFüsz.com.
Forward-Looking and Cautionary StatementsThis press release may contain “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company’s actual results. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, and other filings with the U. S. Securities and Exchange Commission (available at www.sec.gov). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
For more information, please visit: www.nFüsz.com
CONTACT INFORMATIONPlease address media inquiries to: info@nFüsz.com 855.250.2300, extension 7
Please address investor inquiries to: investors@nFüsz.com 855.250.2300, extension 2