Business
Fortran Corporation Issues Corporate Update and Letter to Shareholders
Fortran Corporation Issues Corporate Update and Letter to Shareholders.
About this update from Fortran Corp.
[{"type":"text","content":"\n\n\n\nFortran Corporation Issues Corporate Update and Letter to Shareholders\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nFortran Corporation Issues Corporate Update and Letter to Shareholders\nPR Newswire\nHICKORY, N.C., June 22, 2016\n\n\n\nHICKORY, N.C., June 22, 2016 /PRNewswire/ -- Fortran Corporation (OTC: FRTN), a leading communications system integrator and tower service provider, issues the following update to its shareholders. \n\nOur business has improved by the following:\n\n\nGross Revenues in FYE  2014/2015:        3,930 with a net profit of (196,000) \nGross Revenues in 9-mo 2015/2016:        6,523 with a net profit of 185,280 \nOur estimated EBITDA by the end of Q1 (Sept. 2016) to be in excess of $500,000.\n\nInitiatives for Q1 & Q2 2016/2017\n\n\nFile Voluntary 10K and 10Q for FYE 2015/2016 Q1. \nCompleted PCOAB Audit and File Form-10 Q2. \nComplete registered debt/security offering Q2/Q3.\nManagement believes that reporting to the SEC will provide greater market transparency, recognition and shareholder value currently not reflected in our share price.\n\nDuring the last 90-days, Management made three Letters-of-Intent (LOI's) of acquisition targets with total revenues of $35,000.  None of those offers have been accepted at this time.\n\nA Letter to Stockholders is posted on www.otcmarkets.com under the \"news\" tab under ticker symbol \"FRTN\" and then \"Letter to Shareholders.\"\n\nAbout Fortran Corporation\n\nFortran Corp., operates in the communications and cooling tower business segments throughout the US through its subsidiaries.  For more information call 800-735-8600.\n\nDisclaimer \n\nThis press release is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy shares of Fortran Corporation in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualif...