Q3 revenue up 42.5 percent

Posted: November 15, 2010 by chrisbagley in F3 Technologies, Uncategorized
We put out a press release on our Q3 revenue earlier this evening. The 42.5 percent year-on-year growth is the strongest we’ve reported in a while.
As the release notes, most of the growth is from our established Interaction Community Systems platform for homeowners associations and our work for Tivus, which began just last quarter.
But the most exciting developments are in the Interactive Defense System and FargoTube, both platforms that we launched last summer. Both have drawn hundreds of users and are moving swiftly toward the critical mass they need in order to generate significant revenue.
  1. Jeffrey says:

    WOW , this is a pathetic earnings report. How do you guys keep the lights on ! Do you have any funding coming in from a partnership or are you going to dilute this stock further and send its price to sub,sub pennies? What is the contract with Tivus worth ?

    • Jim says:

      Jeffrey, this has been going on for the last year and a half. They’re keeping the lights on by diluting the stock and leaving their shareholders out in the cold. They only added $5000 of revenue from last qtr. The Tivus contract brought in $3500. Too bad they had $250,000+ in salaries. At least someone is making money! Look out below, this is about to get really ugly, quickly!

      • Hello Jim. I have responded in full to Jeffrey’s post on our blog. I invite you to please read my reply as it might answer some of your concerns. I also invite you to please call me so we can discuss what the company is doing, why we are doing it and where our funding plays into everything. My number is 770-521-9524. I share your frustration in the lack of revenue in Q3 and the continued need for funding. That being said, I feel we made some good decisions in Q3 and are on the right track in Q4 with the right products and strategies in the marketplace. By the way, a lot of the compensation on our books is deferred. Neither I nor Jim Canouse has received a dime over the last couple years. I hope to hear from you. Sincerely, Frank.

    • Hello Jeffrey,
      Thank you for your concerned blog post about our Q3 earnings. Sales efforts in Q3 were modest due partly to the launch, enhancements, and support of FargoTube, which we believe to be our primary revenue generator for years to come. Being a small shop, we evoked an all-hands-on-deck mentality to ensure that FargoTube was launched in a successful and working manner — no easy undertaking. That being said, we are fully aware that the company MUST start to breathe on its own — without the need for funding — by increasing revenue and reducing our monthly overhead. We have taken aggressive steps to do both by opening ourselves up to development projects that not only pay some of the bills but also implement our core competency and — and by reducing staff levels when possible. Tivus, by the way, generates $5,000/month. Needless to say, Q4 has already been a more productive quarter and we are beginning to see a shift in the expense-to-revenue ratio. We have a lot going on and much to communicate to our investor base. There is still much work to be done and we’re trying to stay focused on the goal of bringing greater adoption to F3 products in the marketplace and ramping up revenue as quickly as possible. Once again, I thank you for your concern. It is appreciated and shared by the management of F3, and you can rest assured that results are forthcoming. My line is always open if you would like to speak to me in person at 770-521-9524.
      Sincerely, Frank.

  2. Bryan says:

    Do you have an update on the automated sign-up of ICS and Fargotube? I don’t recall seeing anything about those features now available and I’m wondering if you have an estimated launch date for those features.

    • chrisbagley says:

      We automated the process for FargoTube registration several months ago. I’ll check on ICS, but I don’t think its registration is fully automated just yet. We’ve been focusing more of our efforts on FargoTube and Interactive Defense since launching them over the summer.

    • FargoTube automation is completed. The new sections on the home page automatically create the needed information depending on what is being uploaded, be it an individual song, album, movie, or show/series. We are currently working on the phase 7 update for FargoTube which includes several usability enhancements and an automated affiliate system. Phase 8 will be our first step into the world of Facebook and mobile apps. The automated signup for ICS is well underway. It is taking some time because we are allowing management companies to signup and auto-load all of their communities during the signup process as well. We currently have 72 configurations that can be set for each community (talk about flexibility!). Obviously, we’re not having new users set this for their communities during the automated setup process, but that should give you an idea of how complex the task is for us. I don’t feel comfortable giving an estimate at this juncture because we’ve recently moved some of our ICS resources over to FargoTube and I’m not sure how much that will slow things down. That being said, it’s at the top of our list and the task itself has an “In-Progress” status in our queue.

  3. Jeffrey says:

    Why don’t you guy advertise to all the colleges with a contest for best tube and give away shares as a prize. You can offer each college winner shares then a grand prize for all the colleges. Each college winner would be done on a voting/viewing process, and you can also break it down into categories, music , comedy , drama etc. Make it a yearly thing a this product Fargotube would go viral.

  4. Morris says:

    hi chris,after doing long DD finally got this link from social times regarding what I’m trying to tell you and please delete my two other posts since this the one that I can explain with example.
    in this article shows FargoTube homepage(believe or guess)from before and looks EXCELLENT.
    sorry giving you hard time with my broken English but this is the look should have FargoTube homepage for mass none techi consumers like me.I love that homepage and I’m sure will be easy to raise the traffic by using massive free social networking…..attractive/beautiful homepage and don’t get it why you added those long 5 colons in upper homepage…take care

    FargoTube Helps Video Content Owners Create Profitable Fan Sites