Envit Capital Group, Inc. (ECGP) Completes Reverse Merger with Fortel, Inc.
25 Agosto 2008 - 8:27AM
Business Wire
Merger Approved - Trading Effective Today Shares Authorized:
40,000,000 Shares Outstanding: 1,015,097 Exchange: Pink Sheets
Symbol: ECGP Envit Capital Group, Inc. is pleased to announce the
merger between Fortel, Inc. and Envit Capital Group, Inc. With the
merger having been approved by FIRNA on August 22, 2008, the new
company will begin trading effective today, August 25th, 2008 under
the new symbol ECGP. Envit Capital Group, Inc. The Envit Capital
Group, Inc. operates as a holding company for financial entities,
investor partnerships, and asset management subsidiaries. Envit�s
strategy for growth in 2008 is to continue aggressively acquiring
additional Financial Firms and other Financial Entities to increase
our assets under management. The acquisition of additional
Financial Firms will increase Envit�s revenues significantly. Our
goal for Envit is to have $1 billion under management by the end of
2009. We also desire to expand by strategically placing offices
throughout the metro United States. The founder, CEO and Chairman
of Envit Capital Group, Inc., Edward M. Laborio stated, �The
reverse merger of Envit Capital Group, Inc. with Fortel, Inc. is
complete. I look forward to the transition of introducing Envit
Capital as a publicly traded entity to institutional and individual
investors alike.� Laborio further stated, �Our Company has a lot of
exciting projects in the works. I anticipate 2008-2009 being very
successful years for the company and the basis of a long successful
presence in the financial industry. Our zero debt will provide us
with the explosive growth we are seeking in 2008. It is my hope and
desire that our business model as an asset manager will be well
received by the investing public.� The Company would like to inform
current shareholders of Fortel, Inc. that after months of
deliberation, the Company has made careful consideration in the
decision to reverse split the outstanding Fortel, Inc. stock by a
30-1 ratio. The trading activity in Fortel, Inc. prior to the
merger was an issue to the Company and was brought to our attention
as a concern by FINRA. We also believe that past promoters and
investor relations individuals for Fortel, Inc. and Zitel, Inc.
were in possession of a substantial amount of the outstanding
float. The reverse split was a precautionary measure to protect
current Fortel, Inc. and Envit Capital Shareholders from possible
unscrupulous manipulative tactics. Envit Capital did not promote
nor did it ever invite any individual investor to invest in Fortel,
Inc. prior to the merger and because of the unexplained activity in
the stock, Management made a conscious decision not to issue any
news prior to the merger.� Envit Capital Group, Inc. has sold
approximately 6,000,000 Class B Common restricted shares and
approximately 1,500,000 Class A Preferred shares of Envit Capital,
LLC under the securities act of 1933 and in association with
Regulation D and Rule 144. These shares will be exchanged for
restricted Envit Capital Group, Inc. stock in the very near future.
The current outstanding structure of 1,015,097 shares will not be
diluted until these restrictions are lifted in adherence with Rule
144. Currently no shares have been issued to any promoters,
investor relations companies and family or friends of executives
from Envit Capital. Envit Capital will be issuing the Company�s
Financials in the very near future and also will invite
shareholders to take part of our fist public conference call.
Management is currently working with the Pink Sheet Exchange to
update all information and plans on being awarded the appropriate
transparent �PS Current Information� connotation on
www.pinksheets.com. It is also Envit�s intention to move its
listing to the OTCBB as soon as we adhere to current OTCBB listing
requirements. The company is headquartered in Boston, Massachusetts
at 99 Summer Street; 17th Floor Boston, MA 02110 (617)-542-3333.
Forward-looking Statements "Safe Harbor" Statement under the
Private Securities Litigation Reform Act of 1995: This press
release contains or may contain forward-looking statements such as
statements regarding the Company's growth and profitability, growth
strategy, liquidity and access to public markets, operating expense
reduction, and trends in the industry in which the Company
operates. The forward-looking statements contained in this press
release are also subject to other risks and uncertainties. The
Company assumes no obligation to update these forward-looking
statements to reflect actual results, changes in risks,
uncertainties or assumptions underlying or affecting such
statements, or for prospective events that may have a retroactive
effect.
Envit Capital (CE) (USOTC:ECGP)
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Envit Capital (CE) (USOTC:ECGP)
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De Ene 2024 a Ene 2025