Fortran Corporation Issues Shareholder UpdateMarch 05, 2020
Conover, NC, March. 05, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Fortran (OTC: FRTN)
is pleased to announce that we have completed the sale of our 80% interest in Tower Performance,
Inc., Tower Performance Texas, and Tower Performance Construction, Inc. held through one of our
subsidiaries, New TPI, LLC.
We are also pleased to announce our latest agreement with Nippon Electric Company ("NEC") to offer NEC's new and original biometric authentication technologies in six areas--face recognition, iris recognition, fingerprint/palmprint recognition, voice recognition and ear acoustic authentication--which we believe are among the best of their class in the world. We believe NEC provides the most suitable solutions to customers' needs with its biometric authentication technologies, and, by combining multiple biometric authentication systems, will result in more robust security.
We plan to aggressively move forward with building shareholder value through acquisitions and organic growth. We are currently in discussions with several large profitable companies as potential acquisitions candidates, and will provide updates as we progress.
We are excited about our future and look forward to providing you with regular progress updates.
"We believe the action taken by our shareholders at this meeting provides a clear path to accomplish our goals and objectives of enhancing shareholder equity.”
President and CEO, Glenn Withers
About Fortran Corporation
("Fortran" or the "Company") is a leading telecommunications system integrator dedicated to designing, sourcing, implementing and maintaining complex Telecommunications solutions. We are converting the historical and traditional Telecom business model to a Telecom-As-A-Service ("TaaS") and is comprised of design, network service, technical certifications, remote monitoring, on-site service, with dedicated sales and engineering.
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995 With the exception of historical information, the matters discussed in this press release are forward-looking statements and considerations that involve a number of risks and uncertainties. The actual future results of Fortran Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, fluctuation in operating results, the ability of Fortran Corporation to compete successfully and other events, factors and risks previously and from time to time disclosed in Fortran Corporation’s filings with the OTC Markets Group including, specifically, those factors set forth in any “Risk Factors” section contained in such filing.
Fortran Corporation 828-324-4611