GlobeNewswire

CONOVER, N.C., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Fortran Corporation (OTC: FRTN) is pleased to announce that the company has signed a Letter of Intent (LOI) to acquire Intech Systems of South Carolina, Inc.

"We believe that the acquisition of Intech Systems of South Carolina will increase our market share in South Carolina and surrounding areas and add revenue that will enhance our bottom line numbers," stated President Kent Greer.

Intech Systems of South Carolina is headquartered in Columbia, South Carolina and provides telecommunication sales, installation, and services focused in the hospitality industry.

Fortran expects to complete the acquisition of Intech Systems of South Carolina in the first quarter of 2025.

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.  Fortran's expects that it will complete the acquisition of Intech Systems of South Carolina in the first quarter of 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.

Contact:
Kent Greer
828-324-4611
kgreer@fortrancorp.com