To our Fortune Industries shareholders:
Our June 30, 2014 audited financial statement is now available in PDF format for you to view. The impact of the purchase of the majority interest by CEP, Inc., the entity created and owned by Fortune’s Executive Management Team, is reflected in this statement which includes the elimination of the Preferred Stock from prior years. All shareholders are now common shareholders- there is no preferential ownership in front of the common shareholders as of July 1, 2013. Our 2014 EBITDA was $3.9 million as compared to $3.1 million for 2013, an increase of 26.6%.
In April, we applied to FINRA for our common stock to be quoted and traded on the OTC Pink Sheets. This process has taken substantially longer than we anticipated which has included responding to FINRA’s request for additional information on two separate occasions. FINRA has indicated they will reply to our latest response the week of October 20. We are hopeful they will approve our listing in the very near future and we will be able to distribute the details shortly thereafter.
Our annual shareholder meeting will be held on 11/14/2014 10 am central time at 9020 Overlook Blvd. Suite 201 Brentwood, TN 37027
