LARGO, Fla., June 21, 2018 (GLOBE NEWSWIRE) -- Bulova Technologies Group, Inc. (OTC:BTGI) announced today that its wholly owned subsidiaries, Big Red LTL Transport, Inc.  and CIN-SAN Leasing, Inc. (“CIN-SAN”), have sold all of their assets to Big Red Express Trucking LLC in exchange for cash in the amount of $732,000.00 and the assumption of certain liabilities of both subsidiaries. Both subsidiaries have ceased operations. Stephen L. Gurba, President and CEO of the Company, stated, “The sale of these assets by the subsidiaries was, unfortunately, made necessary to satisfy the debt load carried by Big Red LTL and CIN-SAN. It is our belief that relief from the demands of these subsidiaries’ debt will enable BTGI to transition to new areas of business”.

About Bulova Technologies Group, Inc.

Bulova Technologies Group, Inc. headquarters is located in Largo, Florida.