Business
Fortran Corporation Announces Audited Financial Filings
Fortran Corporation Announces Audited Financial Filings.
About this update from Fortran Corp.
[{"type":"text","content":"\n Fortran Announces Filing of its 2021 Audited Annual Financial StatementsCONOVER, NC, May 03, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Fortran Corporation (OTC: FRTN), an emerging telecommunications technology systems integrator, is pleased to announce that it has filed its audited annual financial statements with the OTC Markets Group Inc. for the financial years ended December 31, 2021 and 2020.Full Year 2021 Operational and Other Financial HighlightsRevenues were $1,243,000.00. Gross profit for 2021 was 28.8%; Loss from operations in 2021 decreased by 39% from 2020. Total net loss in 2021 decreased by 41% from 2020. Loss per share for 2021 decreased to (.03) per share.OUTLOOK: “We believe our financial results for 2021 were a significant improvement compared to the previous 12 months of 2020. We believe Fortran is now positioned to become a profitable company based on our two most recent acquisitions in 2022 of Comconexx, LLC, and M & B Communication, LLC,” stated Fortran President Glenn Withers.“Moving forward, we expect 2022 to be a successful year and I look forward to accomplishing numerous milestones for our shareholders,” added Withers.About Fortran Corporation: Fortran Corporation is a telecommunications system integrator dedicated to designing, implementing and maintaining complex communications solutions. Fortran is comprised of engineering and design, network service, sales, remote monitoring, and on-site services. Fortran’s subsidiary companies include Comconexx, LLC, M & B Communication, LLC, B and L Telephone, and Fortran Communications. Each of our subsidiary companies is in the process of converting their historical and traditional telecom business models to a TaaS model. The TaaS model that our subsidiary companies offer is comprised of design, network service, technical certifications, remote monitoring, and on-site service, with dedicated sales and engineering. With our subsidiaries’ ability to offer these modern telecommunication technologies, we believe that companies and organizations requiring upgrades, expansion, or replacement of existing equipment will be able to realize significant savings compared to aging copper or wired digital infrastructures. Companies can now integrate their voice platform with data network technology to improve collab...