Bulova Technologies Group Inc (fka BTGI)

[sylvanemperor]

Bulova Technologies Group, Inc. Announces Debt Reduction

10:00 am ET August 31, 2017 (BusinessWire) Print


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."

About Bulova Technologies Group, Inc.

Bulova Technologies Group, Inc., Bulova Technologies Europe LLC, Bulova Technologies Machinery LLC, Bulova Technologies Finance LLC, BT-Twiss Transport LLC's and Big Red LTL Transport, Inc. Headquarters are all located in Largo, Florida.

Please visit our website at www.bulovatechgroup.com for more information.

Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management.

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SOURCE: Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc.
Craig Schnee, 727-536-6601