LARGO, Fla., July 10, 2018 (GLOBE NEWSWIRE) — 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.
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc. headquarters is located in Largo, Florida.
Please contact: Craig Schnee for more information.
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.