FDN, Inc. Announces Financial Results For Year Ended December 31, 1999.Business Editors/High Tech Writers ORLANDO, Fla.--(BUSINESS WIRE)--May 10, 2000 FDN FDN Foundation FDN Fully Distinguished Name FDN Fixed Dialing Number (telecommunications) FDN Florida Digital Network FDN Fuerza Democratica Nicaraguense (Nicaraguan Democratic Force) , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : FDNIE) an emerging provider of pre-paid cards, Voice over IP and long distance Telephony products and services, announced its financial results today, for the year ended December 31, 1999. Total assets as of December 31, 1999 increased to US $5,193,147 from US $44,835 from the same period in 1998. Revenue for the year ended December 31, 1999 was US $1,187,643. Reflecting the developmental nature of the Company's underlying telecom projects, the net loss for the year ended December 31, 1999 was US $3,505,212 or (0.09) per share before revenue acquisition adjustment. "A clear positive for FDN, Inc.'s financial results has been the Company's ability to convert a majority of its notes into equity in the first quarter 2000," said Colin Cave, CFO See Chief Financial Officer. , FDN, Inc. He went on to say, "The second quarter marks the launch of our national pre-paid card, Voice over IP, domestic and international long distance initiatives. We are very excited that the underlying value base for FDN, Inc. will continue to be significantly enhanced." The audited financial information has been prepared utilizing Generally Accepted Accounting Principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting . The entire filing can be read at http://www.sec.gov/Archives/edgar/data/835767/0000835767-00-000003.txt . FDN, Inc., http://www.fondigital.com/ , provides Voice over IP, long distance, Internet, and data services to resellers and small and medium-size businesses through a fiber-optic network. An interstate and international common carrier with headquarters in Orlando, FL, FDNI FDNI Flavor-Diagonal Neutrino Interactions also holds a FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. 214 license and has been issued CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. code 10-10-813 with regulatory approval to operate in all fifty states. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including without limitation, the future press releases of FDN, Inc. FDN, Inc. has been recently profiled in TheStockAdvisor Newsletter. For an additional report, send email to fdni@thestockadvisor.comor visit http://www.thestockadvisor.com . |
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