Bulova Technologies Group Inc (fka BTGI)

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LARGO, Fla.--(BUSINESS WIRE)-- Bulova Technologies Group, Inc. announced today that it has arranged the sale of certain of its aged debt held by creditors, and its conversion into common shares of the stock of the Company in order to free up the Company’s capital.

Stephen L. Gurba, President and Chief Executive Officer of the Company, stated, “By arranging this sale of aged debt, and its conversion into common shares of stock, the Company has preserved its capital for investment into its growing transportation business. Current shareholders will see an increase in the number of the Company’s shares outstanding, but each newly issued share represents both reduced debt and cash preserved by the Company.”