HICKORY, N.C., July 18, 2018 (GLOBE NEWSWIRE) -- Fortran Corporation (FRTN), a communications system integrator and tower service provider, issues the following update to its shareholders. On April 19, 2018, Fortran Corporation’s former President and CEO, Douglas Rink, resigned his positions as an officer and director of the Company. On May 17, 2018, Dayne Miller, Douglas Miller, Brett Bertolami and Glenn Withers were appointed as directors of the Company, to serve along with Richard Wilson. Mr. Withers was appointed as Chairman of the Board and on July 11th CEO of the Company. The Company is currently in the process of completing its financial statements and expects to become current in its filings with the OTC Markets Group in the near future with the goal of becoming a fully reporting company under the Securities Exchange Act of 1934 in order to bring more transparency for the shareholders.
About Fortran Corporation: Fortran Corporation is a telecommunications system integrator dedicated to designing, sourcing, implementing and maintaining complex communications solutions. Fortran is converting the historical and traditional telecom business model to a Telecom-As-A-Service ("TaaS") and is comprised of engineering and design, network service, technical certifications, regional sales teams, remote monitoring, on-site service, dedicated sales and engineering. In November 2015, Fortran acquired an 80% interest in Tower Performance, with offices in Texas, New Jersey and Pennsylvania. http://www.tpict.com
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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 including, without limitation, the ability of Fortran Corporation to complete its recent financial statements and file such financial statements with the OTC Markets Group and the ability of Fortran Corporation to become a reporting company under the Securities Exchange Act of 1934 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, the ability of Fortran Corporation to successfully complete its financial statements; the ability of Fortran Corporation to prepare, file and have declared effective by the Securities and Exchange Commission a registration statement under the Securities Exchange Act of 1934 to become a reporting company; 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 filings.