Fortitude Group, Inc. Retires 20% of Their Common Stock
April 28 2014 - 7:00AM
Marketwired
Fortitude Group, Inc. Retires 20% of Their Common Stock
ERIE, PA--(Marketwired - Apr 28, 2014) - Fortitude Group, Inc.
(OTC: FRTD) is pleased to announce, as part of their previously
announced Stock Repurchase Plan, they have retired and returned to treasury
185,000,000 shares of their restricted common stock (20% of the
894,322,304 shares that were formally issued and outstanding).
The Board of Directors, on February 25, 2014, resolved the
repurchase of up to 100,000,000 Class A common shares of the
Company. On March 26, 2014, the Board of Directors agreed to
increase the allotted number of shares in the Stock Repurchase Plan
from 100,000,000 to 250,000,000 (which can be purchased over the
next 365-days). To date, the company has retired a total of
212,550,000 shares (24%) of their issued and outstanding common
stock.
Thomas Parilla, CEO of Fortitude, stated, "Our goal was to
retire 60,000,000 shares of our common stock by the end of April.
We have exceeded this goal and in doing so have positioned
ourselves to capitalize on a soon-to-be announced
strategic partnership with an existing revenue generating company
in the entertainment industry. This partnership will showcase our
existing product-line as well as introduce several new products to
the public."
The company will provide updates to their shareholders awaiting
the Special Share Issuance of Affinity Mediaworks (OTCQB: AFFW).
The company received the 9,250,000 restricted share certificate and
instantaneously completed the required corporate resolution,
issuance instruction letter and shareholders list to perfect the
re-issuance of this certificate to Fortitude shareholders. The last
item requested by the AFFW transfer agent was supplied on
Wednesday, April 23, 2014. The re-issued shares should be received
by Fortitude shareholders on or before May 2, 2014.
About
Fortitude Group, Inc. is a diversified company with investments
in multiple sectors of the economy targeting joint ventures, wholly
owned subsidiaries and/or majority/minority positions that cross
various market segments with the goal of creating a quality company
that builds intrinsic value for its shareholders.
Forward Looking
Statements
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause the Company's actual
results to differ materially from those projected in such
statements. Forward-looking statements speak only as of the date
made and are not guarantees of future performance. We undertake no
obligation to publicly revise any forward-looking statements.
Contact Fortitude Group, Inc. Investor Relations Phone:
888-447-5501 Email: info@FRTDGroup.com
Fortitude (CE) (USOTC:FRTD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Fortitude (CE) (USOTC:FRTD)
Historical Stock Chart
From Sep 2023 to Sep 2024