nFüsz Announces Execution of Merger Agreement
November 15 2018 - 7:05AM
Files Quarterly Report For the Third
Quarter of 2018
CEO 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 Statements
This 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 INFORMATION
Please 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