Emerging telecommunications technology systems integrator, Fortran Corporation(OTCMKTS:FRTN), has announced the appointment of F. Kent Greer as Chief Operations Officer of Fortran Corporation. He has been the General Manager for Fortran Corporation since July of 2018 and is thankful for this opportunity to keep expanding on their long-term strategic growth plans.
Market Reaction
On Tuesday, FRTN stock ended flat at $0.1195 with 2K shares, compared to its average volume of 9.3K shares. The stock moved within a range of $0.1195 – 0.1195 after opening trade at $0.1195.
Key Details
The company is focused on designing, implementing and maintaining complex communications solutions. It offers engineering and design, network service, sales, remote monitoring, and on-site services. Fortran subsidiary companies include Comconexx, LLC, M & B Communication, LLC, B and L Telephone, and Fortran Communications.
The subsidiary companies are now in the process of converting their historical and traditional telecom business models to a TaaS model. They will soon be able to offer
modern telecommunication technologies, so that companies and organizations requiring up-grades, expansion, or replacement of existing equipment are able to realize significant savings compared to aging copper or wired digital infrastructures. Companies can now integrate their voice platform with data network technology to improve collaboration and usability.
Glenn Withers, President and CEO, states that creating this position for appointing Mr. Greer to supervise day-to-day operations of the company, lets him invest more of his time to strategic planning and merger and acquisition analysis.
Key Quote
“The creation of this position and the appointment of Mr. Greer to oversee all day-to-day operations of the company will allow me to devote more of my time to strategic planning and merger and acquisition analysis,” stated Glenn Withers, President and CEO.
Traders Review
FRTN stock is trading above the 20-Day and 50-Day Moving averages of $0.11 and $0.11 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.12.
