Comconexx LLC, Fort Myers, Florida Joins the Fortran Corporation Family

Rhea-AI Summary

Fortran Corporation (OTC: FRTN) announced the acquisition of Comconexx, LLC, a telecommunications firm based in Fort Myers, Florida. Comconexx will operate as a wholly owned subsidiary, expanding Fortran's portfolio alongside its existing subsidiaries in North and South Carolina. President Glenn Withers expressed optimism about Comconexx’s contributions to Fortran's growth. This acquisition aligns with Fortran’s strategy to enhance its innovative technology solutions in the telecommunications sector.

Positive

• Acquisition of Comconexx enhances Fortran's market presence.
• Comconexx joins a portfolio of established subsidiaries, potentially improving operational synergies.

Negative

• None.

Conover, NC, March 04, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Fortran Corporation (OTC: FRTN), a telecommunications technology systems integrator, is pleased to announce that it has completed the acquisition of 100% of the ownership interest in Comconexx, LLC, located in Fort Myers, Florida.  Comconexx will continue to operate as a wholly owned subsidiary of Fortran Corporation, providing innovative technology solutions in Fort Myers, Florida and the surrounding areas.  Comconexx joins Fortran Communication, B and L Telephone, and M and B Communication, Fortran’s other wholly owned subsidiaries located in North and South Carolina.  Glenn Withers, President of Fortran Corporation, stated; “We are excited to have Comconexx join our family of innovative companies. We are looking forward to Comconexx’s contribution to our growth and performance.”                         

About Fortran Corporation: 

Fortran Corporation is a telecommunications system integrator dedicated to designing, implementing and maintaining complex communications solutions. Fortran is comprised of engineering and design, network service, sales, remote monitoring, and on-site services. For more information contact us at: info@fortrancorp.com. Visit us atwww.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 that Comconexx will continue to operate as a wholly owned subsidiary of Fortran Corporation providing innovative technology solutions in Fort Myers, Florida and the surrounding areas and that Fortran is looking forward to Comconexx’s contribution to Fortran’s growth and performance M & B will continue to operate as a wholly owned subsidiary of Fortran Corporation and that M & B will join B and L Telephone and Fortran Communications, Fortran’s other current operating companies, to provide innovative technology solutions in North and South Carolina. 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 expectations 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 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, factors 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 fillings.

Glenn Withers

828-324-4611

Gwithers@fortrancorp.com

FAQ

What is the recent press release about Fortran Corporation (FRTN)?

Fortran Corporation announced the acquisition of Comconexx, LLC, enhancing its telecommunications service offerings.

When did Fortran Corporation acquire Comconexx?

The acquisition announcement was made on March 4, 2022.

How will Comconexx operate after its acquisition by Fortran Corporation?

Comconexx will function as a wholly owned subsidiary of Fortran Corporation.

What are the expectations for Comconexx's contribution to Fortran Corporation (FRTN)?

Fortran Corporation anticipates Comconexx will significantly contribute to its growth and performance.