HICKORY, N.C., July 19, 2013
HICKORY, N.C., July 19, 2013 (OTC Disclosure and News Service) --
Fortran Corporation (OTC: FRTN), a leading communications system
integrator announced today it has successfully settled a previous
claim against one of it?s predecessor companies, Burke Mills, Inc
(Burke).
This claim had been brought against Burke for a long
outstanding debt in the approximate amount of $85,000. The Company was able to settle
this claim in exchange for an issuance of 1,500,000 shares of
Fortran common stock in satisfaction of all claims regarding this
potential liability.
Doug Rink, Fortran CEO stated "I'm very happy to have a
final resolution to this issue and to have resolved this in a
manner that will allow the Company to continue to grow.
Fortran Corp., is a leading communications system
integrator through it's subsidiaries, The New Telephone Company,
Inc., CCI Telecom, Inc. B & L Telephone, LLC and Fortran
Communications, Inc. Fortran Corp. is dedicated to designing,
sourcing, implementing and maintaining today's complex
communications solutions for business and governments. Fortran
services more than 3,000 clients in 2 states with 3 offices in the
southeast. To learn more, please visit the Fortran Corp. website at
www.fortrancorp.com.
CONTACT:
Fortran Corporation Investor Relations, 828-624-1147 Email:
info@fortrancorp.com
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.
SOURCE Fortran Corporation