SCOTTSDALE, Ariz., April 17, 2014 /PRNewswire/ -- Kuboo, Inc. (OTC Pink: SGTB) dba Safe Communications, Inc., announced today that they have signed an initial term sheet with a global technology firm (called the "partner") that has the right to invest up to $1 million in equity in Kuboo, Inc. common stock. The funds will be dispersed to Kuboo on a monthly basis yet to be determined. The term sheet is non-binding and subject to a final agreement currently being prepared. The term sheet also calls for a right of first refusal to the partner on any offering of shares, acquisition or any indebtedness under the same terms offered to a third party for a limited period of time. The partner will also have the right to place one person on Kuboo's Board of Directors.
John Venners, Kuboo CEO, stated: "We are delighted to have a world class IT firm as our partner. In addition to their unparalleled capabilities they are demonstrating their social commitment to help provide safe online products for our most precious asset – our kids."
About KUBOO, Inc.:
KUBOO, Inc. (dba Safe Communications, Inc.) provides open and secure family communications that are in step with today's digital world. While protecting our most precious asset, our children, our systems are designed to enhance the quality and frequency of day-to-day communications among family members and approved friends. We allow users to experience the marvel of advanced technology without fear or danger.
KUBOO Inc.'s products are designed for the modern family on the go. KUBOO.COM is the first child safe virtual world offering games, edutainment, controlled chat, multiple channel online streaming -- all on the same platform. Early detection devices warn parents of potential abuse and inappropriate content, allowing secure, open exchange with loved ones and friends. KUBOO.COM designs products so that your children can enjoy the electronic ride without being exposed to potential harm or abuse. For more information, contact: [email protected] or visit us online at www.KUBOO.com.
Various statements in this release, including those that express a belief, expectation or intention, may be considered "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects. Forward-looking statements may also include projections and estimates concerning our future operating results and financial condition. When we use the words "will," "believe," "intend," "expect," "may," "should," "anticipate," "could," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
Safe Communication, Inc.
SOURCE Safe Communications, Inc.