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LARGO, Fla., Aug. 27, 2018 (GLOBE NEWSWIRE) -- (OTC:BTGI) -- Bulova Technologies Group, Inc. (the “Company”) announced today that all of its subsidiaries have ceased operations and no longer have assets with which to perform operations or satisfy outstanding debts. Consequently, the Company is itself unable to satisfy its debts going forward. Stephen L. Gurba, President and CEO, stated, “Unfortunately, the debt burden carried by each of the Company’s subsidiaries proved insurmountable in light of the drop-off in revenue experienced. As a result, the subsidiaries have been liquidated, both voluntarily and involuntarily, and operations have ceased. Bulova Technologies Group, Inc., itself continues to search for opportunities to again revitalize the business.”
About Bulova Technologies Group, Inc.
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Vice President and General Counsel
Bulova Technologies Group, Inc.
1501 Lake Avenue SE
Largo, FL 33771
Safe Harbor Act and
Statements about the Company’s future expectations and all other statements in this press release other than historical facts, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by and information currently available to the Company or its management.