Psychic Friends Network Receives Additional $250,000
"Additional funding assures that PFNI will conclude exciting new marketing initiatives we are now close to finalizing." --PFNI CEO Marc Lasky
LAS VEGAS, July 12, 2012 /PRNewswire/ -- The Psychic Friends Network (OTCBB: PFNI), a marketing/ entertainment company providing proprietary online and telephonic psychic advice, announced today that it has received an additional $250,000 investment pursuant to its financing agreement with Right Power Services Ltd.
This brings its total investment to $750,000 since the company's launch as a public company on March 30, 2012. This is the third and final tranche of Right Power funding, completely fulfilling the psychic Friends Network-Right Power agreement.
"This investment is highly significant in two respects," said Marc Lasky, PFNI CEO. "The final installment of Right Power funding confirms that company's confidence in the direction in which the Psychic Friends Network is moving, as well as its enthusiasm for the speed and effectiveness with which we are achieving our objectives.
" Of equal importance," Lasky added, "the additional $250,000 in funding assures that PFNI will be well positioned to launch some of the exciting new marketing initiatives we are now finalizing. These include a broad new program of mobile advertising, a broad affiliate program, and pay-per-call advertising that will set new industry standards.
The Psychic Friends Network is re-launching its now-legendary brand with a customized platform of new, state-of-the-art online applications. In addition to the telephonic service it pioneered in the mid-1990s, the new platform has integrated social networking with its proprietary technologies.
These applications will enable customers to communicate with PFN psychics by smart, mobile, and land-line telephony as well as through their computers, laptops, and hand-held devices. No other psychic service currently offers such a wide range of customer-friendly online applications.
Psychic Friends Network, Inc (PFNI) is a marketing and entertainment company providing on-demand psychic advice as well as daily and weekly horoscopes. PFNI connects professional live psychics with customers via telephone, social networking, and its newly developed state-of-the-art online platform enabling one-on-one interaction with video chat, voice, or text chat.
About Psychic Friends Network, Inc:
Psychic Friends Network, Inc. ("PFNI") is a marketing and entertainment company that provides on-demand psychic advice as well as daily and weekly horoscopes. PFN connects professional live psychic readers with customers via telephone (mobile and landline) and through their newly developed state-of-the-art online platform enabling interaction with video chat, voice or text chat.
PFN pioneered the psychic industry with memorable television/radio marketing and infomercials generating nearly $1 Billion in revenues. Since then the psychic market has grown immensely to an estimated $2 Billion a year in the US alone. The same management team who built the iconic "Psychic Friends" brand is working together again; this time with the clear advantage of the internet, social media, and easier methods for billing and better communication technology.
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DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, including statements containing the words "believes," "anticipates," "expects," "intends" and words of similar import. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that the Company believes might cause such differences include: (1) concentration of the Company's assets into one industry segment; (2) the nature of the Company's business (as defined herein); (3) the impact of changing economic conditions; (4) the actions of competitors, including pricing and new product introductions; (5) the Company's forecasts for overhead costs and growth; (6) the growth of the psychic industry; (7) the impact of social media and other current technology on the Company's business; (8) the Company's ability to gain market share in the psychic industry; and (9) the Company's ability to receive the final $250,000 in committed investment financing.
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