Fortitude Group, Inc. Announces Purchase of Well-Known Financial Internet Property
May 01 2014 - 9:51AM
Marketwired
Fortitude Group, Inc. Announces Purchase of Well-Known Financial
Internet Property
ERIE, PA--(Marketwired - May 1, 2014) - Fortitude Group, Inc.
(OTC: FRTD) announced today that the company has completed the
acquisition of a prominent financial Internet property with over
1,600,000 qualified opt-in members.
Under the terms of the agreement, the name of the acquired
financial site will not be disclosed until the domain has been
successfully transferred to Fortitude. This transfer is
normally concluded in 2-4 weeks. Fortitude has acquired 100%
interest in the website, including the domain and associated
trademarks as well as the front-end website, the middleware data
and the back-end database management software.
According to the acquisition agreement, since its inception, the
acquired domain has amassed over 1,600,000 opt-in members, of which
over 300,000 are active micro-cap investors and just under 400,000
are accredited investors. Consideration for this acquisition was 25
million restricted shares of Fortitude common stock issued under
Rule 144.
According to the 2014 case study prepared by Subscription Site
Insider (CLICK HERE) entitled "Email List Valuations: What's Your
Opt-In Email List Worth as a Media Property on the M&A
Marketplace Today?" the author provides valuations on specific
opt-in data ranging from between $1 - $35 per name depending on
eight key factors. Based on these 8 factors, the acquired
domains membership database would be valued at the higher end
of the spectrum and should be valued between $20 and $25 per opt-in
name.
Thomas J. Parilla, CEO of Fortitude stated, "With the addition
of this well-known financial website to our portfolio, we are
poised to capture a large portion of the crowdfunding market share.
The laws surrounding crowdfunding are rapidly moving through the
regulatory approval process. We now manage a growing subscriber
base of active investors and can refine our current portfolio while
reshaping the criteria for our future investments. The SEC is in
its final stages of comments surrounding The Jobs Act Regulation A
(+) and it is an industry wide assumption that ultimately
Regulation A (+) will pass and become a viable tool that will allow
companies to publicly market new funding projects to qualified
investors. We are confident that now that we have completed
this acquisition, we have a foothold in an otherwise fragmented
industry that will allow us to aggressively communicate with our
members about investments and their potential participation."
About
Fortitude Group, Inc. is a diversified company with investments
in multiple sectors of the economy targeting joint ventures, wholly
owned subsidiaries and/or majority/minority positions that cross
various market segments with the goal of creating a quality company
that builds intrinsic value for its shareholders.
Forward Looking
Statements
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause the Company's actual
results to differ materially from those projected in such
statements. Forward-looking statements speak only as of the date
made and are not guarantees of future performance. We undertake no
obligation to publicly revise any forward-looking statements.
Contact Fortitude Group, Inc. Investor Relations Phone:
888-447-5501 Email: info@FRTDGroup.com
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