BT Twiss is in foreclosure, its assets will be str
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Posted On: 07/10/2018 8:27:20 AM
BT Twiss is in foreclosure, its assets will be stripped from BTGI to meet debt demands.
"Bulova Technologies Group, Inc. (the “Company”) announced today that the assets of (Twiss Transport, Inc.) have been foreclosed upon by the senior secured lender, Centerstate Bank, N.A. (“Centerstate”), successor to Sunshine Bank. As a result, Twiss Transport, Inc. will immediately cease operations. Stephen L. Gurba, President and CEO of Bulova Technologies Group, Inc., stated, “Unfortunately, the debt burden of this subsidiary could not be met given the extraordinary events which have taken place since the summer of 2017. It was left with no alternatives.” BTGI is now focusing its efforts in new areas of business."
Well, that explains why my brokerage firm will not allow its clients to purchase the stock.
"Bulova Technologies Group, Inc. (the “Company”) announced today that the assets of (Twiss Transport, Inc.) have been foreclosed upon by the senior secured lender, Centerstate Bank, N.A. (“Centerstate”), successor to Sunshine Bank. As a result, Twiss Transport, Inc. will immediately cease operations. Stephen L. Gurba, President and CEO of Bulova Technologies Group, Inc., stated, “Unfortunately, the debt burden of this subsidiary could not be met given the extraordinary events which have taken place since the summer of 2017. It was left with no alternatives.” BTGI is now focusing its efforts in new areas of business."
Well, that explains why my brokerage firm will not allow its clients to purchase the stock.
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