Bulova Technologies Group Inc (fka BTGI)

[davidsson10]

Bulova Technologies Announces Cessation of Operations

LARGO, Fla., Aug. 27, 2018 (GLOBE NEWSWIRE) -- (OTC:BTGI) -- Bulova Technologies Group, Inc. (the “Company”) announced today that all of its subsidiaries have ceased operations and no longer have assets with which to perform operations or satisfy outstanding debts. Consequently, the Company is itself unable to satisfy its debts going forward. Stephen L. Gurba, President and CEO, stated, “Unfortunately, the debt burden carried by each of the Company’s subsidiaries proved insurmountable in light of the drop-off in revenue experienced. As a result, the subsidiaries have been liquidated, both voluntarily and involuntarily, and operations have ceased. Bulova Technologies Group, Inc., itself continues to search for opportunities to again revitalize the business.”