|By Marketwired .||
|March 21, 2014 11:56 AM EDT||
ERIE, PA -- (Marketwired) -- 03/21/14 -- Fortitude Group, Inc. (OTC: FRTD) announced today the progress for the special share issuance of Affinity Mediaworks Corp. (OTCQB: AFFW).
As previously announced, 9,250,000 shares of Affinity Mediaworks Corp., which represents approximately 14% of the to-be-issued and outstanding stock of Affinity Mediaworks, are being issued as a special share issuance to bonafide shareholders of record of Fortitude Group, Inc. as of 6:00 pm on March 14, 2014. This issuance has been calculated for every 92 FRTD shares beneficially owned by a Fortitude shareholder. They shall be entitled to receive 1 new additional share of Affinity Mediaworks. Affinity Mediaworks is set to invest $4,000,000 for a 45% equity ownership in PRIMARQ in April 2014. Based on preliminary pro-forma numbers, while still a pre-revenue company, within 90-days of funding PRIMARQ is set to ramp up to over $200 million per year in revenue.
As of March 17, 2014, management of the Company has ordered its current NOBO (Non-Objecting Beneficial Owner) list from DTC as well as its most recent certified shareholders list from the company's transfer agent. The completion of the bonafide shareholders list should be completed by March 31, 2014. To help ensure bonafide shareholders of record do not miss out on this special share issuance, the Company is pleased to announce that beginning March 22, 2014, shareholders of the Company can go to http://www.FRTDIssuance.com and input their personal information which will include their name, address, phone number, number of shares beneficially owned as of March 14, 2014, purchase price and a required screenshot upload to verify the shareholders brokerage position.
The Board of Directors of Affinity Mediaworks Corp. have ratified and instructed the issuance of 9,250,000 shares of Affinity to the Company's transfer agent, to be issued in the name of Fortitude Group, Inc. and sent via overnight currier to Fortitude. Management of Fortitude expects to be in receipt of the certificate during the week of March 24, 2014. Upon receipt of the certificate, management of Fortitude will instruct Affinity's transfer agent to re-issue the certificate(s) to the bonafide shareholders of record of Fortitude. Certificates will be sent to bonafide shareholders of record of Fortitude no later than the second week of April, 2014.
The 9,250,000 shares of Affinity Mediaworks Corp. being distributed to Fortitude bonafide shareholders of record will carry registration rights and be registered in the Company's S-1(which will be filed with the SEC April 2014). The average timeline for an S-1 to be deemed effective is 90-days from the initial submission to the SEC.
Thomas J. Parilla, CEO of Fortitude stated, "Since announcing the special share issuance of AFFW stock to our shareholders, we have received multiple inquiries from shareholders. We have listened to these comments and hope this update will help bring clarity to how this transaction is being completed. Beginning March 22, 2014, our shareholders will be able to go to http://www.FRTDIssuance.com and gain access to valuable tools such as a FAQ, proposed valuations, contact information, message boards (to communicate with other shareholders) and access to forms from the transfer agents. Our commitment is to provide superior communication with our shareholders and address any question they may have during this process."
Fortitude Group, Inc. is a diversified company with investments in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and/or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.
Forward Looking Statements
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
Fortitude Group, Inc.
Email: [email protected]
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Aug. 3, 2015 11:30 PM EDT Reads: 250
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Aug. 3, 2015 11:00 PM EDT Reads: 694
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Aug. 3, 2015 10:45 PM EDT Reads: 220
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 3, 2015 06:45 PM EDT Reads: 537
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Aug. 3, 2015 05:45 PM EDT
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Aug. 3, 2015 04:00 PM EDT Reads: 278
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Aug. 3, 2015 03:45 PM EDT
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
Aug. 3, 2015 03:30 PM EDT
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Aug. 3, 2015 03:15 PM EDT
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Aug. 3, 2015 03:00 PM EDT Reads: 560
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Aug. 3, 2015 12:30 PM EDT Reads: 209
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Aug. 3, 2015 09:45 AM EDT Reads: 369
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Aug. 3, 2015 07:30 AM EDT Reads: 194
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Aug. 2, 2015 06:00 PM EDT Reads: 1,140
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Aug. 2, 2015 04:00 PM EDT Reads: 439