Forterus Inc. Announces Stock Buyback
November 12 2008 - 7:30AM
PR Newswire (US)
HUNTINGTON BEACH, Calif., Nov. 12 /PRNewswire-FirstCall/ --
Forterus Inc. (OTC:FTER) (BULLETIN BOARD: FTER) today announced
that its board of directors has approved buying back up to $20,000
in stock in open market transactions. "Our senior management has
concluded that Forterus' stock is severely undervalued, and does
not reflect the financial success of the company, including its
exceptionally strong profits from the past two months," said Paul
Howarth, CEO of Forterus. "We therefore believe that a small
portion of our working capital should be used to complete this
proposed redemption program, since the market has not reflected our
financial achievements." Forterus acquired Murrieta, Calif.-based A
Better Tomorrow Treatment Center, Inc. in August, one of the
largest and fastest growing drug and alcohol rehabilitation centers
in Southern California. A Better Tomorrow is accredited by the
Commission on Accreditation of Rehabilitation Facilities (CARF),
placing it in the top 5 percent of drug and alcohol treatment
centers in California. Forterus Inc. and its subsidiaries engage in
diverse business activities, including behavioral healthcare,
intervention services, drug and alcohol rehabilitation, pain
management, physical therapy, finance as well as thoroughbred
breeding and racing. For more information about Forterus and A
Better Tomorrow, please visit their respective websites at
http://www.forterus.com/ and http://www.abttc.com/. Application of
the Safe Harbor of the Private Securities Litigation Reform Act of
1995: This press release contains, and Forterus may from time to
time make, written or oral 'forward-looking statements' within the
meaning of the U.S. federal securities laws, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All forward-looking statements rely
on a number of assumptions concerning future events and are subject
to a number of uncertainties and other factors, many of which are
outside Forterus's and/or its subsidiaries control that could cause
actual results to differ materially from such statements. In
particular, statements using words such as 'may,' 'should,'
'estimate,' 'expect,' 'anticipate,' 'intend,' 'believe,' 'predict,'
'potential,' or words of similar import generally involve
forward-looking statements. Paul Howarth (888) 257-8345 DATASOURCE:
Forterus Inc. CONTACT: Paul Howarth of Forterus Inc.,
1-888-257-8345, Web site: http://www.forterus.com/
http://www.abttc.com/
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