CHEYENNE, Wyo., Feb. 3, 2016 /PRNewswire/ -- The directors and management of Formosa Liberty Corp. (OTC PINK: FLIB) today reported results for the fiscal 2015 fourth quarter ended December 31, 2015. 4th quarter net Assets increased to $1,958,812 from $130,403 in the 3rd quarter as a result of acquiring the NanoSave N1 product lines. "We have made great progress in our restructuring efforts. Our acquisition of the NanoSave N1 Motor Oils & Marine Coating lines positions us well to deliver strong global sales in 2016," commented Steve Lovern, President & CEO. "Our focus on manufacturing, cost reduction and overall marketing have placed us in a good environment to drive strong margin expansion and earnings growth in 2016. Our continued investment in our established brands, supply chain, sales and distribution capabilities continue to improve. This builds on our abilities to drive sustainable revenue and earnings growth," added, CEO Steve Lovern. In other News: The Board of Directors held a shareholders meeting on December 30, 2015 in Daytona Beach, Florida. The board voted on a number of new measures to go into place in early 2016. The board voted to change the company name to NanoSave Technologies Inc. Change the company's OTC trading symbol and to adjust the company's share structure once approved by regulators.
Formosa Liberty Corp. Financial Results here:
NanoSave Technologies Inc. is a Global leader in the Research & Development of Nano technology innovations, in the fields of nanotechnology, green bio-based motor oils, motor oils, lubricants and marine coatings. NanoSave N1 "The World's First Full Line of Nano Engineered Super Oils & Lubes"
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Formosa Liberty Corp.