AbsoluteFuture - Update on Financial Position

Apr 27, 2001, 01:00 ET from AbsoluteFuture, Inc.

    BELLEVUE, Wash., April 27 /PRNewswire/ -- AbsoluteFuture
 (OTC: AFTIE; AFTI), a software security technologies company, announces that
 it is carrying out a private placing of shares and warrants of up to
 $400,000 and that it expects to be able it to file its 10-KSB annual report
 for the year to December 31, 2000 shortly.
     To date, a total of $200,000 has been raised or committed in the private
 placing through the issuance of 4 million common stock and 4 million warrants
 to several private investors, including Graham Andrews, the company's
 President and CEO who is investing $100,000 in this placing. Each warrant has
 a life of two years and is exercisable at 5c.   Shares and warrants are being
 acquired by accredited investors in the USA under Regulation D or by non-U.S.
 persons under Regulation S.
     The Company's operations have been focused principally on the sales and
 marketing of SafeMessage, coupled with the reduction of non-essential
 personnel.   This has reduced the burn-rate considerably.
     Sales of SafeMessage are progressing very well, despite the Company's
 limited sales and marketing resources.   In addition to the agreement with
 SAPPA to market and sell SafeMessage in South Korea, agents have recently been
 appointed in the UK and in Central Europe.
     The 10-KSB annual report is substantially complete and it is expected that
 it will be filed with the SEC shortly.  Due to the delay beyond the scheduled
 filing date, the SEC has automatically appended the "security symbol fifth
 character identifier" of an 'E' (for "Delinquent for SEC Filing") to the
 AbsoluteFuture ticker symbol of AFTI, extending it to AFTIE.  However, neither
 the symbol nor the filing status has any impact on day-to-day operations.
     Graham Andrews President and CEO of AbsoluteFuture said that, "This is an
 extremely tough market in which to raise capital.  However, AbsoluteFuture has
 a fully developed, high quality product that is winning excellent reviews and
 is selling to customers.  The very real commercial prospects enabled us to
 differentiate ourselves and raise capital. The money raised from the private
 placing will be used to reduce indebtedness and to continue the sales effort.
 Taking into account the sales to date and the excellent sales prospects,
 together with the reduced burn-rate, I believe that AbsoluteFuture is on track
 to be in a positive cash flow position in the not too distant future.
 Despite having to curtail our growth plans, we have held together the core
 team of people who initiated SafeMessage and brought it through its
 development process to the current commercial product.  Development and
 technical operations are led by Tony McNamara and sales are headed by Linda
 Cadigan.  On behalf of shareholders, I would like to take this opportunity of
 thanking the key staff members for their outstanding energy and dedication in
 keeping the business moving forward in this highly unsettled climate for small
 high tech companies."
 
     About SafeMessage(TM)
     SafeMessage(TM) ( http://www.safemessage.com ) is a patent-pending,
 peer-to-peer-capable electronic messaging system designed for ultra-secure
 communications and the controlled distribution of highly sensitive electronic
 documents.  SafeMessage delivers a highly secure, limited-persistence,
 status-tracked electronic messaging platform to corporate and governmental
 users. It is aimed at the growing market of people who like the convenience
 and speed of email but are concerned about confidentiality. An adjunct to
 existing e-mail programs, SafeMessage makes it easy for users to exchange
 highly sensitive e-mails that expire, or self-destruct, after a period of time
 that the sender sets.  In addition, SafeMessage ensures data security through
 multiple layers of encryption and by preventing recipients from copying,
 saving, forwarding or printing SafeMessages they receive.
 
     About AbsoluteFuture
     AbsoluteFuture develops proprietary core software products and
 technologies, particularly in the areas of ultra-secure messaging and the
 distribution of highly confidential electronic documents.  Sophisticated
 proprietary technologies related to security, encryption, limited persistence
 and communications are additionally used as building blocks to enable a
 variety of custom corporate and governmental solutions. For more information,
 see www.absolutefuture.com, and www.safemessage.com.
 
     Safe Harbor Statement
     Certain information included in this communication as well as information
 included in oral statements or written statements made or to be made by
 AbsoluteFuture, Inc. contains statements that are forward-looking. Such
 statements may include but are not limited to statements relating to the
 future anticipated direction of the Company and its business, plans for future
 expansion, various business development activities, planned capital
 expenditures, future-funding requirements, anticipated sales growth and
 earnings, and potential contracts. These forward-looking statements are
 subject to a number of known and unknown risks and uncertainties that could
 cause actual operations or results to differ materially from those
 anticipated.
 
     CONTACT:  Graham Andrews, CEO of AbsoluteFuture, Inc., 425-462-6210, or
 investorrelationsr@absolutefuture.com.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X45287821
 
 

SOURCE AbsoluteFuture, Inc.
    BELLEVUE, Wash., April 27 /PRNewswire/ -- AbsoluteFuture
 (OTC: AFTIE; AFTI), a software security technologies company, announces that
 it is carrying out a private placing of shares and warrants of up to
 $400,000 and that it expects to be able it to file its 10-KSB annual report
 for the year to December 31, 2000 shortly.
     To date, a total of $200,000 has been raised or committed in the private
 placing through the issuance of 4 million common stock and 4 million warrants
 to several private investors, including Graham Andrews, the company's
 President and CEO who is investing $100,000 in this placing. Each warrant has
 a life of two years and is exercisable at 5c.   Shares and warrants are being
 acquired by accredited investors in the USA under Regulation D or by non-U.S.
 persons under Regulation S.
     The Company's operations have been focused principally on the sales and
 marketing of SafeMessage, coupled with the reduction of non-essential
 personnel.   This has reduced the burn-rate considerably.
     Sales of SafeMessage are progressing very well, despite the Company's
 limited sales and marketing resources.   In addition to the agreement with
 SAPPA to market and sell SafeMessage in South Korea, agents have recently been
 appointed in the UK and in Central Europe.
     The 10-KSB annual report is substantially complete and it is expected that
 it will be filed with the SEC shortly.  Due to the delay beyond the scheduled
 filing date, the SEC has automatically appended the "security symbol fifth
 character identifier" of an 'E' (for "Delinquent for SEC Filing") to the
 AbsoluteFuture ticker symbol of AFTI, extending it to AFTIE.  However, neither
 the symbol nor the filing status has any impact on day-to-day operations.
     Graham Andrews President and CEO of AbsoluteFuture said that, "This is an
 extremely tough market in which to raise capital.  However, AbsoluteFuture has
 a fully developed, high quality product that is winning excellent reviews and
 is selling to customers.  The very real commercial prospects enabled us to
 differentiate ourselves and raise capital. The money raised from the private
 placing will be used to reduce indebtedness and to continue the sales effort.
 Taking into account the sales to date and the excellent sales prospects,
 together with the reduced burn-rate, I believe that AbsoluteFuture is on track
 to be in a positive cash flow position in the not too distant future.
 Despite having to curtail our growth plans, we have held together the core
 team of people who initiated SafeMessage and brought it through its
 development process to the current commercial product.  Development and
 technical operations are led by Tony McNamara and sales are headed by Linda
 Cadigan.  On behalf of shareholders, I would like to take this opportunity of
 thanking the key staff members for their outstanding energy and dedication in
 keeping the business moving forward in this highly unsettled climate for small
 high tech companies."
 
     About SafeMessage(TM)
     SafeMessage(TM) ( http://www.safemessage.com ) is a patent-pending,
 peer-to-peer-capable electronic messaging system designed for ultra-secure
 communications and the controlled distribution of highly sensitive electronic
 documents.  SafeMessage delivers a highly secure, limited-persistence,
 status-tracked electronic messaging platform to corporate and governmental
 users. It is aimed at the growing market of people who like the convenience
 and speed of email but are concerned about confidentiality. An adjunct to
 existing e-mail programs, SafeMessage makes it easy for users to exchange
 highly sensitive e-mails that expire, or self-destruct, after a period of time
 that the sender sets.  In addition, SafeMessage ensures data security through
 multiple layers of encryption and by preventing recipients from copying,
 saving, forwarding or printing SafeMessages they receive.
 
     About AbsoluteFuture
     AbsoluteFuture develops proprietary core software products and
 technologies, particularly in the areas of ultra-secure messaging and the
 distribution of highly confidential electronic documents.  Sophisticated
 proprietary technologies related to security, encryption, limited persistence
 and communications are additionally used as building blocks to enable a
 variety of custom corporate and governmental solutions. For more information,
 see www.absolutefuture.com, and www.safemessage.com.
 
     Safe Harbor Statement
     Certain information included in this communication as well as information
 included in oral statements or written statements made or to be made by
 AbsoluteFuture, Inc. contains statements that are forward-looking. Such
 statements may include but are not limited to statements relating to the
 future anticipated direction of the Company and its business, plans for future
 expansion, various business development activities, planned capital
 expenditures, future-funding requirements, anticipated sales growth and
 earnings, and potential contracts. These forward-looking statements are
 subject to a number of known and unknown risks and uncertainties that could
 cause actual operations or results to differ materially from those
 anticipated.
 
     CONTACT:  Graham Andrews, CEO of AbsoluteFuture, Inc., 425-462-6210, or
 investorrelationsr@absolutefuture.com.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X45287821
 
 SOURCE  AbsoluteFuture, Inc.