Fortress Financial Group, Inc. — Stockholder Disclosure
SOURCE:
FORTRESS FINANCIAL GROUP, INC.
2008-07-21 12:00:00
Fortress Financial Group, Inc. — Stockholder Disclosure
Fortress Financial Group, Inc. — Stockholder Disclosure
Company Advises on Immediate Stockholder Disclosure Requirements
NEW YORK, NY–(EMWNews – July 21, 2008) – Fortress Financial Group, Inc. (
SEC, certain stockholders are required by law to disclose their
stockholdings in filings with the SEC.
The Company’s outstanding shares of Common Stock as at July 21, 2008 are
now in the amount of 33,295,377,817.
Any stockholder holding in excess of 5% of the Company’s outstanding stock,
that being in the amount of 1,664,768,891 shares of the Company’s Common
Stock, is required to file a Form 15(g) with the SEC within ten days from
their purchases. These stockholders will be required thereafter to file all
and any of their purchases and sales of the Company’s shares of Common
Stock, within ten days from any such purchase or sale. This will require
full disclosure of the pricing paid per share as well as full and accurate
disclosure of the ultimate beneficial owner of these shares.
Any stockholder holding in excess of 10% of the Company’s outstanding
stock, that being in the amount of 3,329,537,782 shares of the Company’s
Common Stock, is required to file a Form 15(d) with the SEC within ten days
from their purchases. These stockholders will be required thereafter to
file all and any of their purchases and sales of the Company’s shares of
Common Stock, within ten days from any such purchase or sale. This will
require full disclosure of pricing paid per share as well as full and
accurate disclosure of the ultimate beneficial owner of these shares.
These rules apply to parties acting in concert.
The Company issues this statement in light of the circa 46% reduction in
its outstanding shares through the Company’s stock repurchases in the past
month. Many stockholders may not be aware of these filing and reporting
obligations to the SEC.
The Company intends to continue its buyback of its shares of Common Stock,
and remains extremely committed to a vastly reduced number of its
outstanding shares of Common Stock and a considerably diminished “free
float.” Stockholders are advised to watch the reduction in the Company’s
outstanding shares of Common Stock on a weekly basis as they may well be
liable, or may soon become liable to file either a Form 15(g) or Form 15(d)
with the SEC.
About Fortress Financial Group, Inc.
Fortress Financial Group, Inc. was primarily engaged in the issuing and
marketing of prepaid debit card and related payment solution activities.
Through the closure of the Trinity Mercantile Finance Group and the
Mortgage Bank acquisitions, Fortress Financial Group, Inc. is now
expediting its plans to become a broadly based Consumer Finance Group. The
“Mortgage and Consumer Lending Divisions” will comprise the vast majority
of the Group’s earnings in the immediate to medium term.
The Company is utilizing its substantial Balance Sheet of circa US$500
million, comprised of quoted and unquoted Gold Mining & Exploration
stocks, to aggressively fund a large number of acquisitions in the consumer
financial services sector, initially focused in the Mortgage Lending and
Banking sectors.
This release contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. “Forward-looking statements”
describe future expectations, plans, results, or strategies and are
generally preceded by words such as “may,” “future,” “plan” or “planned,”
“will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or
“projected.” You are cautioned that such statements are subject to a
multitude of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results may
differ materially from those projected in the
forward-looking statements as a result of various factors, and other risks
identified in a companies’ annual report on Form 10-K or 10-KSB and other
filings made by such company with the SEC.
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