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Fortran (OTC: FRTN) has signed a Letter of Intent to acquire Intech Systems of South Carolina, a Columbia-based telecommunications company specializing in hospitality industry services. The acquisition, expected to complete in Q1 2025, aims to expand Fortran's market presence in South Carolina and neighboring regions while potentially boosting revenue and profitability.
Fortran Corporation (OTC: FRTN) has announced the successful upgrade of telecommunications systems in 21 schools across three counties in Western North Carolina through its subsidiary, B and L Telephone. President & CEO Glenn Withers emphasized that these upgrades will enhance service delivery for students and faculty. The projects were completed on time during the summer to minimize disruption. Fortran continues to transition its subsidiaries to a TaaS model, aiming to provide cost-effective solutions compared to traditional telecom infrastructures.
Fortran Corporation (OTC: FRTN) has appointed F. Kent Greer as Chief Operations Officer, transitioning from his previous role as General Manager since July 2018. This strategic move aims to enhance day-to-day operations while allowing President and CEO Glenn Withers to focus on long-term strategic growth and mergers. Fortran, a telecommunications systems integrator, is shifting its subsidiary companies towards a TaaS model to provide modern telecom solutions, offering significant savings compared to traditional systems.
Fortran Corporation (OTC: FRTN) has filed its audited annual financial statements for the years ended December 31, 2021, and 2020. The 2021 revenue was $1,243,000, with a gross profit margin of 28.8%. Loss from operations decreased by 39% and net loss decreased by 41%, with loss per share down to (.03). The company aims to achieve profitability following its acquisitions in 2022 of Comconexx, LLC, and M & B Communication, LLC, and expects a successful 2022 with several milestones for shareholders.
Fortran Corporation (OTC: FRTN) has announced a significant contract worth $691,109.20 through its subsidiary Comconexx, which will provide structured cabling and audio-visual equipment for a new high school in Collier County, Florida. This contract highlights the value of Fortran's recent acquisition of Comconexx. The company anticipates awarding additional significant contracts within the next year, reinforcing its commitment to telecommunications systems integration and modern technology solutions.
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.
Fortran Corporation (OTC: FRTN) has successfully acquired 100% ownership of M & B Communication, LLC, enhancing its telecommunications capabilities in North and South Carolina. M & B will function as a wholly owned subsidiary alongside B and L Telephone and Fortran Communications. This strategic move aims to strengthen Fortran's market presence and deliver innovative technology solutions.
Fortran Corporation specializes in designing and maintaining complex communication systems, providing services such as engineering, network service, and remote monitoring.
Fortran Corporation (OTC: FRTN) has signed a Letter of Intent to acquire Comconexx, LLC, a telecommunications service provider based in Fort Myers, Florida. This acquisition is expected to enhance Fortran's market share in the Southeast and boost its revenue, thereby improving financial performance. President Glenn Withers emphasized the strategic significance of this deal, aiming for completion by December 31, 2021. Fortran specializes in complex communication solutions, encompassing design, installation, and maintenance.