Fonon Corporation (Formerly Mabwe Minerals Inc.) Receives Clearance from FINRA Including Authorization for 10:1 stock split and Issued New Ticker Symbol: FNON
Mabwe Minerals is now Fonon Corporation, completes Phase I of company’s “2015 Reorganization Plan” with FINRA approval of name change, domicile change, stock split and new ticker symbol
Lake Mary, Florida, September 4th, 2015 (GLOBE NEWSWIRE)—Fonon Corporation (formerly Mabwe Minerals) (OTC: FNON) is pleased to announce the company has successfully completed its first step towards implementing the company’s “2015 Reorganization Plan” with final approval from FINRA. FINRA approval signifies Mabwe Minerals’ transition from the mineral/metal sector into the 3D laser metal printing system market that includes long-term recurring metal powder revenue streams.
Company Update:
- Adopted the new name – Fonon Corporation domiciled in Delaware
- Completed the 10:1 reverse stock split
- Issued new ticker symbol FNON
The company now moves into the next phase of its “2015 Reorganization Plan” implementing its business development structure based on a Value Chain approach. The company intends to aggressively conclude a number of mergers/acquisitions that both vertically and horizontally expand the company’s capabilities and revenue stream based on a multi-market approach. Elements of the plan include raw metal powder supply and management, critical components manufacturing, R&D with Engineering and Application Center, Additive and Subtractive Parts Manufacturing and Assembly, OEM – original Laser Based Equipment Manufacturing, Laser Equipment Financing and O&M (Ownership and Maintenance) of selective manufacturing fleet for its own purposes with additional details to be released throughout the rest of this year.
“This should be exciting news for all 500 FNON shareholders, signaling corporate’s advancement into the revenue generating phase of the company’s development. With the new business model and 2015 Reorganization Plan, we expect to demonstrate consistent revenue moving forward” said Company Vice President Jay Schlegel.
About Fonon Corporation
Fonon Corporation is the recognized leader of industrial-grade 3D Additive and Subtractive laser-based material processing systems. Our systems are used world-wide in the semiconductor, flat panel display, automotive, aerospace, industrial, defense, electronic and medical industries with a portfolio of intellectual property, knowhow & inventions placing our company in the unique position to offer both standard 3D material processing systems or our specialty of tooling 3D laser-based transforming systems designed around the unique applications of our customers.
To learn more about Fonon Corporation, visit: https://fonon.us
Notice Regarding Forward-Looking Statements:
NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and the company’s ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Fonon is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences except as required under applicable law.