MURRIETA, Calif., June 7 /PRNewswire-FirstCall/ -- Forterus, Inc.
(Pink Sheets: FTER) today announced financial guidance for its
second quarter 2010.
The Company expects net revenue will be approximately
$1,750,000 to $1,850,000. This
compares to revenue of $1,234,361 for
the same period in 2009. Its current revenue through May 31, 2010 is estimated at $1,182,000.
The company also announced that it has obtained a conditional
use permit for its planned facility in Ventura County, which will begin operations as
a sober living and outpatient treatment services provider beginning
June 21st.
"Now that we have our CUP in hand, we can begin generating
revenue from sober living and outpatient treatment services in our
22-bed Ventura County facility,"
said Forterus CEO Paul Howarth.
Forterus has also filed paperwork with the State of California to license its
Ventura County facility for
in-patient residential drug and alcohol treatment services. "We
expect to receive our state license for the Ventura County facility in a few months. But
the timing will depend on staffing and budget levels within the
state Department of Alcohol and Drug Programs," Howarth said.
Additionally, the Company raised $55,000 through the issuance of 628,572 shares of
its common stock. "This transaction will support of the expansion
of our core business at our new Ventura
County location," Howarth said, adding, "We are pleased to
have completed this round of financing and we'd like to thank our
new and existing investors. The fact that we were able to again
secure funding in today's challenging financial environment
reflects our investors' belief in Forterus and the exciting sales
growth prospects for the Company."
About Forterus, Inc.
Forterus Inc. and its subsidiaries engage in diverse business
activities, including drug and alcohol rehabilitation and finance.
For more information about Forterus and its A Better Tomorrow
Treatment Center subsidiary, please visit their respective websites
at http://www.forterushealthcare.com and http://www.abttc.com.
Forward Looking Statements
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.
Contact:
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Paul Howarth, CEO, Forterus, Inc.
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(888) 257-8345
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ir@forterus.com
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SOURCE Forterus, Inc.