Mr. Justin Rasekh reports

FUNDAMENTAL ANNOUNCES SERUM UPDATES

Fundamental Applications Corp.'s interest in developing a new feature, using geolocation, that would allow Serum users not only to engage in anonymous conversations with their Serum friends, but also to send them gifts such as a credit for drinks at a nearby restaurant or a gift card at a local retailer. Serum users are already able to use geolocation to determine one another's location anonymously and, with a new gifting feature, would allow them to send fun and interesting gifts almost instantaneously.

The company expects that this kind of gifting feature would increase the social value of anonymous sharing among Serum friends by offering amusing topics for meaningful conversations and, by charging a fee for use, would increase Fundamental's revenue stream.

"We're very excited about the possibility of developing a gifting feature, which would allow Serum friends to communicate openly and honestly with each other and also have a lot of fun doing it. We don't feel any other app is out there right now that's moving in the direction we are by encouraging users to engage in playful and even flirtatious banter in a safe and anonymous way," said chief executive officer Justin Rasekh.

We seek Safe Harbor.