In-Depth Look At Fortress International Group (FIGI)

Fortress International Group FIGI offers services primarily to government agencies, homeland defense agencies and private businesses to design, build and maintain an array of different facilities. These include data centers, trading floors, call centers, network operation centers, communication facilities, laboratories, and secure bunkers. FIGI was formerly known as Fortress America Acquisition Corporation. Fortress America was created as a “blank check” company, which in Fortress America's case means it was created solely to merge with another company. Fortress America was approved for IPO in 2005 and was successful in raising $48 million to acquire another business. In January 2007, Fortress America acquired Total Site Solutions and Vortech. The three companies together began operating under Fortress International Group. In April 2010, FIGI voluntarily delisted from NASDAQ and listed its common stock on OTC for cost purposes. "As part of our strategy to conserve resources and improve cost efficiencies, management and the Board have determined that the benefits of a NASDAQ listing no longer outweigh the significant legal, accounting and administrative costs associated with maintaining a listing on the NASDAQ Capital Market," said Chief Executive Officer Thomas P. Rosato. "As the markets in which we operate continue to show signs of gradual improvement, the additional resources we gain from this move better enable us to focus our efforts on the growth of our business, a return to sustained profitability and increased shareholder value." Since inception, Harvey Weiss operated as the CEO, president and board member of Fortress America. When Fortress America became Fortress International in January 2007, Weiss began serving as Chairman of the Board. In December 2008, he began serving as Vice Chairman of the Board. Gerald J. Gallagher is the President and COO of FIGI since January 2007. Gallagher cofounded Total Site Solutions and Vortech and served as the president of both companies prior to the merger with Fortress America. Thomas Rosato is the CEO of FIGI since January 2007. Before this, he served as an Executive Officer of Fortress America.