Conover, NC, April 27, 2021 - Fortran Corporation (OTC: FRTN), an emerging Telecom-As-A-Service(TaaS) company, is pleased to announce completion of its annual audit by its independent public accounting firm registered with the Public Company Accounting Oversight Board (United States) as of and for the period ending December 31, 2020 and 2019.
“Fortran is committed to enhancing shareholder value and audited financial reports are a major component of increasing that value,” stated Fortran President and CEO Glenn Withers.
“In a Covid-19 environment that remains challenging, we believe Fortran’s outlook for 2021 is very promising as our subsidiaries (Fortran Communications and B&L Telephone) are beginning to see strong growth,” added Mr. Withers.
Each of our subsidiary companies is in the process of converting their historical and traditional telecom business models to a TaaS model. The TaaS model that our subsidiary companies offer is comprised of design, network service, technical certifications, remote monitoring, and on-site service, with dedicated sales and engineering.
With our subsidiaries’ ability to offer these modern telecommunication technologies, we believe that companies and organizations requiring up-grades, expansion, or replacement of existing equipment will be able to realize significant savings compared to aging copper or wired digital infrastructures.
Companies can now integrate their voice platform with data network technology to improve collaboration and usability. Our subsidiary companies offer one-stop service and products to provide organizations with the very best in both value and quality for communications and data network services.
Financial Highlight — Total Revenue for the period ending December 31, 2020 was $1,286,000 comparedto $1,406,000 for the period ending December 31, 2019.
Visit www.otcmarkets.com to view our complete annual financial report.