Fort Worth, TX / ACCESSWIRE / June 13, 2014 / Firemans Contractors, Inc. (FRCN) is pleased to announce an update to its 2014 Strategic Growth Plan to further development its proprietary franchise network, reduce corporate debt and potentially expand through mergers and acquisitions.
On December 18th, 2013 the Company announced its 2014 Strategic Growth Plan. Over the last several quarters the Company has positioned itself with the 2014 Strategic Growth Plan to sign two new franchisees, expand its market share in Texas by opening a regional office in San Antonio, successfully retire non-friendly aged debt, and add key individuals to its business development team. In her commitment to the Strategic Growth Plan, Fireman Contractors’ CEO Renee Gilmore has increased her equity stake in the Company.
Renee Gilmore, Chairwomen and Chief Executive Officer stated, “The executive team is committed to the growth and success of Firemans Contractors. We believe we are just getting started and will continue to build our mission of being the best and brightest possible. The next steps of development will give FC the opportunity for strategic growth.”
2014 Strategic Growth Plan
On June 02, 2014 The Board has approved an amendment to the Articles of Incorporation that in the best interest of the Company and its shareholders. The approved amendment will authorize a new class of shares, Class C shares. Class C shares will have an 8% cumulative dividend, payable once per year on or around August 1. Class C stock is ranked senior and prior to Class A convertible preferred stock, Class B convertible preferred stock, and to the Corporation’s common stock as to dividends and upon liquidation. Class C shares have liquidation rights of $1.00 per share. Class C shares have no voting rights and increase the authorized Common Stock from 600,000,000 shares to 2,000,000,000 shares. The Company has filed schedule PRE14C Information with the SEC, to notify the shareholders about the amendment. The Board viewed these top four reasons for these decisions: (1) given that the Company is in the midst of a growth and expansion, (2) reviewing several M&A opportunities; (3) employee benefits planning, and (4) options for long term growth capital to further facilitate the 2014 Strategic Growth Plans.
As of this release; CEO - Renee Gilmore, COO/Founder - Aaron Gilmore, and CFO - Nikolay Frolov have not sold any of their personal equity founders positions in Firemans Contractors Inc. dating back to the inception of the company in August 2009.
About Firemans Contractors:
Firemans Contractors, Inc. (OTCQB: FRCN) is a Franchisor and full-service General Contractor providing professional services for commercial and government clients, focused on developing a Business to Business Franchise Opportunities throughout the United States. Its services include Road Improvements, Pavement Maintenance, Seal Coating, Parking Lot Striping, Pavement Marking, Asphalt Maintenance and Repair, and ADA Compliance. Firemans Contractors brings a professional value system delivering outstanding results through honorable customer relationships and repeat business. Local firefighters are supported by a portion of profits which are donated to local Firefighter Associations. Firemans Contractors is a proud member of the Franchise Association (IFA) and The Veteran Transition Franchise Initiative (VetFran). As member, Firemans Contractors is expanding through franchise development, aimed to assist the Company in expanding its market share. As a franchisor, the Company will provide franchisees with training and support, including the proprietary Firebase(TM) software platform, which is included along with other business tools and training for new franchisees of Firemans Contractors.
For more information about Firemans Contractors, visit: www.FiremansContractors.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.
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SOURCE: Firemans Contractors, Inc.