MURRIETA, Calif., Feb. 25 /PRNewswire-FirstCall/ -- Forterus, Inc. (Pink Sheets: FTER) today announced financial guidance for its first quarter 2010. The Company expects net revenue will be approximately $1,450,000 to $1,600,000. This compares to revenue of $914,543 for the same period in 2009.

Ventura County approved the Company's conditional use permit for its planned 22-bed facility. The Company shall begin the process to license the Ventura County facility with the State of California. This process is expected to take 6 to 8 months from the date the paperwork is submitted. The Company is forecasting that within 9 months the facility should be fully operating and accepting insurance clients.

Additionally, the Company raised $110,000 through the issuance of 1,692,308 of its common stock. "This transaction further strengthens our financial position in support of the expansion of our core business," said Paul Howarth, CEO of Forterus. "It provides Forterus with additional capital needed to further our expansion plans in San Diego and Ventura County. We're pleased to have completed this round of financing and we'd like to thank our new and existing investors. The fact that we were able to secure funding in today's challenging financial environment reflects our investors' belief in Forterus and the exciting sales growth prospects for the Company."

About Forterus Inc.

Forterus Inc. and its subsidiaries engage in diverse business activities, including drug and alcohol rehabilitation, and finance. For more information Forterus and A Better Tomorrow, please visit their respective websites at http://www.forterushealthcare.com and http://www.abttc.com.

Forward Looking Statements

Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995: This press release contains, and Forterus may from time to time make, written or oral 'forward-looking statements' within the meaning of the U.S. federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and other factors, many of which are outside Forterus's and/or its subsidiaries' control that could cause actual results to differ materially from such statements. In particular, statements using words such as 'may,' 'should,' 'estimate,' 'expect,' 'anticipate,' 'intend,' 'believe,' 'predict,' 'potential,' or words of similar import generally involve forward-looking statements.

SOURCE Forterus Inc.

Back to top

RELATED LINKS
http://www.forterushealthcare.com
http://www.abttc.com