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FortuneCity.com Inc. Provides Update on its US Affiliate “Hosted Solutions”
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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FortuneCity.com Inc. Provides Update on its US Affiliate “Hosted Solutions”
New York, June 16, 2004 – FortuneCity.com Inc. announced today that its US
affiliate, Hosted Solutions, was profitable for the quarter ending March 31st
2004.
FortuneCity announced today that its affiliate, privately held Hosted Solutions
(formerly known as Springboard Managed Hosting), in which it owns an 11%
shareholding, was profitable for Ql 2004, ending March 31st 2004, on annualized
revenues in excess of $5.0 million. Hosted Solutions provides complete and
customized managed and dedicated web hosting solutions to more than 275 clients
from two world class Data Centers based in North Carolina, USA.
Hosted Solutions was founded in June 2001 with their first data center based in
Raleigh, NC. FortuneCity was an early investor acquiring its stake in Hosted
Solutions in August 2001 for a consideration of $200,000, and is a member of the
Board of Directors. In 2003, Hosted Solutions expanded to Charlotte, NC by
investing in a state-of-the-art data center and more than doubling the size of
their facilities. FortuneCity’s ownership is measured by the equity method of
accounting, whereby Hosted Solutions revenue and profit is not consolidated into
FortuneCity’s P&L.
Hosted Solutions, http://www.hostedsolutions.com, offers unmatched technical
expertise in best practices and best-of-breed technologies, as well as flexible,
scalable service packages. Hosted Solutions provides a full suite of services
including co-location services, fully managed servers, dedicated servers,
business continuity services, managed storage solutions, enterprise backup,
managed firewall, intrusion detection and vulnerability detection, load
balancing, high availability clustering, and comprehensive 24/7 monitoring and
management of e-commerce infrastructures.
Peter Macnee stated, “We are extremely satisfied with the financial and
operational development at Hosted Solutions and look forward to a significant
return on our investment in the company.”
end of ad-hoc-announcement (c)DGAP 16.06.2004
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WKN: 919383; ISIN: US34969P1021; Index:
Listed: Geregelter Markt in Frankfurt (General Standard); Freiverkehr in
Düsseldorf, Hannover und Stuttgart
162141 Jun 04
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