HUNTINGTON BEACH, Calif., Nov. 12 /PRNewswire-FirstCall/ -- Forterus Inc. (OTC Bulletin Board: FTER) today announced that its board of directors has approved buying back up to $20,000 in stock in open market transactions.
"Our senior management has concluded that Forterus' stock is severely undervalued, and does not reflect the financial success of the company, including its exceptionally strong profits from the past two months," said Paul Howarth, CEO of Forterus.
"We therefore believe that a small portion of our working capital should be used to complete this proposed redemption program, since the market has not reflected our financial achievements."
Forterus acquired Murrieta, Calif.-based A Better Tomorrow Treatment Center, Inc. in August, one of the largest and fastest growing drug and alcohol rehabilitation centers in Southern California.
A Better Tomorrow is accredited by the Commission on Accreditation of Rehabilitation Facilities (CARF), placing it in the top 5 percent of drug and alcohol treatment centers in California.
Forterus Inc. and its subsidiaries engage in diverse business activities, including behavioral healthcare, intervention services, drug and alcohol rehabilitation, pain management, physical therapy, finance as well as thoroughbred breeding and racing. For more information about Forterus and A Better Tomorrow, please visit their respective websites at http://www.forterus.com and http://www.abttc.com.
Application of the Safe Harbor of the Private Securities Litigation
Reform Act of 1995: This press release contains, and Forterus may from time
to time make, written or oral 'forward-looking statements' within the
meaning of the U.S. federal securities laws, which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of uncertainties and
other factors, many of which are outside Forterus's and/or its subsidiaries
control that could cause actual results to differ materially from such
statements. In particular, statements using words such as 'may,' 'should,'
'estimate,' 'expect,' 'anticipate,' 'intend,' 'believe,' 'predict,'
'potential,' or words of similar import generally involve forward-looking
|SOURCE Forterus Inc.|
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