FutureNow Announces That It Is Increasing Its Ownership in Australian Partner Alkemi

Student: Fu Kuang Chuang

Title of Article: FutureNow Announces That It Is Increasing Its Ownership in Australian Partner Alkemi

Author: Jeffrey Eisenberg

Complete Citation: http://money.cnn.com/news/newsfeeds/articles/marketwire/0433701.htm

Abstract:

FutureNow Group, Inc. (OTCBB: FUTR) ("FutureNow"), a recognized authority in online marketing optimization, is pleased to announce that it is increasing its ownership in Alkemi International, Ltd. ("Alkemi"), a joint venture established in early 2007. Alkemi and FutureNow recognized the opportunity to join forces by aggressively marketing services to the Australian and New Zealand markets. FutureNow extended to Alkemi a limited-term exclusive territory licensing agreement. As part of the agreement FutureNow is increasing its equity participation in Alkemi. As originally envisioned FutureNow will convert the licensing fee earned under the agreement up to the maximum 15% and as such no cash outlay will be required. Now that the maximum equity participation has been reached, Alkemi will pay all future licensing fees in cash.

Jeffrey Eisenberg, CEO of FutureNow, said, "Alkemi is a valuable partner and we are very proud of the inroads they made into their market. Australia and New Zealand were perfect testing ground for this type of arrangement and provide us with proof that the licensing concept works as part of our expansion plan. We are confident that we can replicate it in other parts of the world."

Nathan Stewart, CEO of Alkemi, said, "The market for online marketing optimization is exploding here and we are really hitting stride in trying to keep up with demand." He went on to say, "The FutureNow relationship is a real strategic advantage. We have a unique offering and it is often the edge in winning new business."