Bulova Technologies Group Inc (fka BTGI)

[StockItOut]

BLVT will still own BTOS after assets sale!

The parent company will still own its subsidiary.

Per 14-C:
After careful review, the Company authorized the sale by BTOS of its assets for two principal reasons - a) to focus its energies in the pursuit and completion of higher margin, less capital and labor intensive contracts through its wholly-owned subsidiary, Bulova Technologies (Europe) LLC (“BT Europe”); and b) to relieve BTOS, BT Europe and the Company, (yes, that's all three as a single entity under its parent inclusive) of burdensome high interest debt that is currently in default, and to provide working capital to ensure future growth.