HICKORY, N.C. - April 3, 2025 (NEWMEDIAWIRE) - Fortran Corporation (OTC: FRTN) (the “Corporation ) is pleased to announce that a Convertible Debentures holder has converted its debenture initially issued on November 1, 2019 for Common stock shares. “The conversion of this debenture is an exciting milestone for the Company, as we continue to execute on our aggressive growth strategy. The conversion of the debentures further strengthens our balance sheet, eliminates the interest payments associated with the debentures, and simplifies our debt structure,” said Kent Greer, President and CEO of Fortran Corporation.
Also, Fortran Corporation has completed the 100% acquisition of Intech Systems of South Carolina. Greer stated, “This strategic acquisition marks an exciting chapter in our story, one that promises enhanced capabilities, expanded resources, and a wider range of solutions to meet our customers evolving needs.”
About Fortran Corporation: Fortran Corporation is a telecommunication system integrator dedicated to designing, implementing and maintaining complex telecommunications solutions focused on cloud based and AI services. Fortran is comprised of engineering and design, network services, sales, remote monitoring, and on-site service. For more information, contact us at: info@fortrancorp.com.
Visit us at www.fortrancorp.com
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Statements and information contained in this communication that refer to or include Fortran's estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Fortran's current perspective of existing trends and information as of the date of the communication. Forward looking statements generally will be accompanied by words such as "anticipate," "believe," "plan," "could," "should," "estimate," "expect," "forecast," "outlook," "guidance," "intend," "may," "might," "will," "possible," "potential," "predict," "project," or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements about the belief that the acquisition of Intech Systems of South Carolina will increase Fortran's market share in the Southeast and add revenue that will enhance its bottom line numbers, and Fortran's expectations that it will complete the acquisition of Intech Systems of South Carolina before March 31, 2025. It is important to note that Fortran's plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Fortran's current expectation depending upon a number of factors affecting Fortran's business. Factors that could cause or contribute to such differences include, but are not limited to, fluctuation in operating results, the ability of Fortran to compete successfully and other events. These factors also include, among others, the risks associated with the ongoing COVID-19 pandemic and related public health measures on its business, customers, markets and the worldwide economy: the inherent uncertainty associated with financial and other projections: the anticipated size of the markets and continued demand for Fortran's products: the impact of competitive products and pricing: changes in generally accepted accounting principles: successful compliance with governmental regulations applicable to Fortran's facilities, products and/or businesses; changes in laws, regulations and governmental policies: the loss of key senior management or staff: and other events factor and risks previously and from time to time disclosed in Fortran Corporation's filings with the OTC Markets Group Inc. including, specifically, those factors set forth in any "Risk Factors" section contained in such filings.
Kent Greer
828-324-4611
kgreer@fortrancorp.com
