SOURCE: Umbra Applied Technologies Group, Inc.

Umbra Applied Technologies Group, Inc.

February 04, 2016 09:15 ET

Umbra Applied Technologies Group Retains the Auditing Services of Notable Fruci and Associates, Full-Service CPA

SHORT HILLS, NJ--(Marketwired - Feb 4, 2016) -  Umbra Applied Technologies Group, Inc. (OTC: UATG) is pleased to announce that the Company has retained the auditing services of Fruci & Associates, a distinguished Full-Service CPA firm, to fulfill the 2-year audit requirement and cooperate with the Company's Legal counsel, in its continued pursuit of a NASDAQ Listing.

Fruci & Associates is recognized for providing fundamental business and financial services to assist clients in identifying and achieving their professional goals. The firm's distinct performance standards include delivering exceptional service, operating with integrity, honesty, and efficiency.

"We are very pleased with the firms that we have brought on board to assist us in our efforts to uplist, improve shareholder value and build a financially solvent company. It is important to us to have the full support of highly professional representatives that understand the objective and have the capabilities to execute with confidence the company's goal of reaching and maintaining NASDAQ's rigorous listing requirements," stated Alex Umbra, Chief Executive Officer, Umbra Applied Technologies.

The Company's Board of Directors recently approved a new share repurchase program of up to two million dollars in stock. This buyback represents the company's confidence in the company's future and gratitude for supporting shareholders of Umbra Applied Technologies Group, Inc. Umbra announced the new repurchase program for up to $2 million of the Company's common stock over the next 24 months. Share repurchases will be made periodically through open market transactions at prevailing market prices, or in privately negotiated transactions.

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Forward-Looking and Cautionary Statements: This press release contains "forward-looking" statements that are based on present circumstances and on Umbra Applied Technologies Group predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including any statements regarding the plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Forward-looking statements are made only as of the date of this release and Umbra Applied Technologies does not undertake and specifically declines any obligation to update any forward-looking statements. Readers should not place undue reliance on these forward-looking statements.

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