Fortitude Group, Inc. (FRTD)

[Ibanksonit]

$FRTD - newest acquisition ProCap: approx $10 million in immediate funding access.


"A BDC can be a great funding vehicle for smaller companies that lack the asset base to support cash acquisitions without entering into toxic financing arrangements. Fortitude has several exciting projects that are in the final stages of completion. These transactions require small amounts of funding to finish, which ProCap can facilitate. ProCap has access to approximately $10 million in immediate funding capabilities and with Fortitudes investments in Big Time Auction, Smart Workout, PRIMARQ and the soon to be announced FDA approved medical device company, we see Fortitude as an explosive asset that will quickly provide exponential value to its shareholders," stated Dr. Scheer, CEO of G3.


What is a BDC?

A company that is created to help grow small companies in the initial stages of their development. BDCs are very similar to venture capital funds. Many BDCs are set up much like closed-end investment funds and are actually public companies that are listed on the NYSE, AMEX and Nasdaq.

To qualify as a BDC, companies must be registered in compliance with Section 54 of the Investment Company Act of 1940. A major difference between a BDC and a venture capital fund is that BDCs allow smaller, non-accredited investors to invest in startup companies. Some of the reasons why BDCs have become popular is that they provide permanent capital to their management, allow investments by the general public and use mezzanine financing opportunities.