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FortuneCity.com Inc.: Announces Sale of German Subsidiary
Ad hoc announcement transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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FortuneCity.com Inc. announced today that it had sold Ampira GmbH, its
wholly owned German subsidiary, to KON AG Klinkhammer Online for €200,000
as part of its continued effort to focus its business activities on the
North American market.
Ampira GmbH, located in Hamburg, was responsible for selling the German
advertising impressions on the FortuneCity online network in addition to
representing the sale of third party web publisher’s advertising inventory.
During the past fiscal year the German subsidiary represented 20% of the
Company’s revenues but it did not contribute positive cash flow. The
German subsidiary was the only remaining FortuneCity office or business
outside of the United States.
Contact:
Contact:
Peter Macnee
President & CEO
investor-relations@corp.fortunecity.com
+1-212-981-8624
(c)DGAP 29.03.2006
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