SCOTTSDALE, Ariz., April
17, 2014 /PRNewswire/ -- Kuboo, Inc. (OTC Pink: SGTB) dba
Safe Communications, Inc., announced today that they have signed an
initial term sheet with a global technology firm (called the
"partner") that has the right to invest up to $1 million in equity in Kuboo, Inc. common stock.
The funds will be dispersed to Kuboo on a monthly basis yet to be
determined. The term sheet is non-binding and subject to a
final agreement currently being prepared. The term sheet also
calls for a right of first refusal to the partner on any offering
of shares, acquisition or any indebtedness under the same terms
offered to a third party for a limited period of time. The
partner will also have the right to place one person on Kuboo's
Board of Directors.
John Venners, Kuboo CEO, stated:
"We are delighted to have a world class IT firm as our
partner. In addition to their unparalleled capabilities they
are demonstrating their social commitment to help provide safe
online products for our most precious asset – our kids."
About KUBOO, Inc.:
KUBOO, Inc. (dba Safe
Communications, Inc.) provides open and secure family
communications that are in step with today's digital world. While
protecting our most precious asset, our children, our systems are
designed to enhance the quality and frequency of day-to-day
communications among family members and approved friends. We allow
users to experience the marvel of advanced technology without fear
or danger.
KUBOO Inc.'s products are designed for the modern family on the
go. KUBOO.COM is the first child safe virtual world offering games,
edutainment, controlled chat, multiple channel online streaming --
all on the same platform. Early detection devices warn parents of
potential abuse and inappropriate content, allowing secure, open
exchange with loved ones and friends. KUBOO.COM designs products so
that your children can enjoy the electronic ride without being
exposed to potential harm or abuse. For more information, contact:
info@safecommunications.com or visit us online at
www.KUBOO.com.
Forward-Looking Statements
Various statements in this
release, including those that express a belief, expectation or
intention, may be considered "forward-looking statements" that
involve risks and uncertainties that could cause actual results to
differ materially from projected results. Accordingly, investors
should not place undue reliance on forward-looking statements as a
prediction of actual results. The forward-looking statements may
include projections and estimates concerning the timing and success
of specific projects. Forward-looking statements may also include
projections and estimates concerning our future operating results
and financial condition. When we use the words "will," "believe,"
"intend," "expect," "may," "should," "anticipate," "could,"
"estimate," "plan," "predict," "project," or their negatives, or
other similar expressions, the statements which include those words
are usually forward-looking statements. When we describe strategy
that involves risks or uncertainties, we are making forward-looking
statements. The forward-looking statements in this press release
speak only as of the date of this press release; we disclaim any
obligation to update these statements. We have based these
forward-looking statements on our current expectations and
assumptions about future events. While our management considers
these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive,
regulatory and other risks, contingencies and uncertainties, most
of which are difficult to predict and many of which are beyond our
control.
Safe Communication, Inc.
John Venners
CEO
480-385-3893
SOURCE Safe Communications, Inc.