for more details. The stock has recently had a run up from $13 range to briefly touch $30. It has dropped with the other techs, and currently sits at $20 1/2 or so. During the next few weeks, strong move upward is expected, and $40 or even $60 has been talked about as a new platform level for this stock.
Price to get in at: Under $23
Target: $ 40
Time Frame: 2 months
AmeriResource Technologies (ARET) is a penny stock (listed on OTC:BB Nasdaq). About to release Loan Website. Today's Press Release is below
this note.
Price to get in at $.05-$.06 cents
Target: $0.40 cents
Time Frame: June 30/99
First Americans Mortgage Corp. to Launch Loan
Website On June 3
LENEXA, Kan.--(BUSINESS WIRE)--May
26, 1999--Dustan R. Shepherd, President of First Americans Mortgage
Corporation (FAMC), a subsidiary of AmeriResource Technologies, Inc. (OTC BB:ARET - news) announced today that the
company will launch their loan
origination Website (
) on June 3. The web page will be the first such Internet site devoted to supplying capital to Native American consumers and tribal
governments.
Through a loan origination web page FAMC will originate home
loans from any location in the United States to their corporate
office in Kansas. Potential customers can log on and prequalify for various loans products, make loan application, learn more
about the corporation and find links to other Indian Country web sites.
``The company has spent the last 75 days not only developing the site but also expanding and reorganizing our internal loan
delivery system
to handle the projected influx of new loans'' explains Mr. Shepherd. The site will focus on Native American
mortgage programs but will also be available to non-Native American borrowers.``
``FAMC will immediately
begin expanding the Website by dedicating a portion of the site to information on potential projects
for tribal governments. The company's recent alliance with George K. Baum & Company will be the first feature
and will focus
on mortgage revenue bonds and other public financing strategies.''
Mr. Shepherd continued ``Over the last four years the staff has continually identified the need in Indian Country for revolving
and installment loan products with fair and equitable terms. During the recent restructuring we decided that the Internet will
allow FAMC to take on these types of products and deliver them in a cost effective and
professional manner. Thus, the
company has entered into discussion with funding sources to supply FAMC with these products to be place on the Website in
the near future.''
The release may contain
forward-looking statements that involve risk and uncertainties, including without limitations, continued
acceptance of the company's products and services, increased levels of competition, new products and
technological changes,
The Company's dependency on financing third party supplies and intellectual property rights, and other risks detailed from
time-to-time in the company's federal filings, annual reports,
offering memorandums or prospectus.
Contact:
First Americans Mortgage Corp., Lenexa
Dustan Shepherd or Delmar Janovec
