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Fortran Corporation Issues Corporate Update and Letter to ShareholdersHICKORY, 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. Our business has improved by the following:
Our estimated EBITDA by the end of Q1 (Sept. 2016) to be in excess of $500,000. Initiatives for Q1 & Q2 2016/2017
Management believes that reporting to the SEC will provide greater market transparency, recognition and shareholder value currently not reflected in our share price. During he 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. A Letter to Stockholders is posted on www.otcmarkets.com under the "news" tab under ticker symbol "FRTN" and then "Letter to Shareholders." About Fortran Corporation Fortran Corp., operates in the communications and cooling tower business segments throughout the US through its subsidiaries. For more information call 800-735-8600. Disclaimer This 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 qualification under the securities laws of such jurisdiction, and the distribution of this communication in jurisdictions may be similarly restricted. The matters discussed herein may also be affected by risks and uncertainties described from time to time in Fortran Corporation's filings with the OTC Markets News Service. The company assumes no obligation to update any forward-looking statement.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fortran-corporation-issues-corporate-update-and-letter-to-shareholders-300288839.html SOURCE Fortran Corporation |