In reviewing all of the important developments and all of the progress that ARES and its Management and partner companies have made on behalf of our shareholders, it brings me great pleasure to update you on what we have accomplished over the past several months.
We have made significant improvements to our business on a number of fronts -- financial condition, growth opportunities, acquisitions, and more. I would like to take this time to review some of our accomplishments and provide some insight as to what the future may bring to ARES and its shareholders.
Software & Technology Division
ARES recently made a great step forward in implementing its business development strategy by announcing the formation of our Software and Technology Division. We have evaluated a number of acquisitions, and continue to do so, in multiple fields within the software and technology arenas. We have formulated what Management believes is an excellent plan for the short and long-term success of the Company.
Software is a high-growth industry with annual revenues in the hundreds of billions of dollars reflecting the tremendous impact that technologies increasingly have on everyone's lives. New technologies and software advancements are creating new markets, and Management has a vision and strategy to leverage transformational technologies in key market niches in which we can compete effectively. We have explored a number of exciting opportunities for acquisitions and development, which brings me to my next topic -- our first software technology acquisition.
Acquisition of assets of Self-Serve Technologies
On June 15, 2004, AmeriResource announced the 100% acquisition for the assets of Self-Serve Technologies, which has been developing and deploying Point of Sale (POS) and self-serve technologies for more than three years. As a result of the acquisition, The Company is focused on providing POS and self-serve technology software, hardware, and installation services to the food service industry -- particularly in the fast-food and quick-serve food sectors of the food service industry.
Americans have watched self-serve technology explode throughout the banking industry (ATM machines), then self-serve gas stations, then grocery and hardware chains; now, fast-food is forecast to be the next major industry to embrace self-service in order to save time and money. We believe strongly in the growth of self-serve technology within the fast-food industry, and ARES and Self-Serve Technologies are poised to capture a significant portion of this growth in the years to come. We have much more exciting news coming on this acquisition in the months ahead, and look forward to reporting to you our future achievements as we implement our strategic plan.
Significant Reduction of Debt & Liabilities
In the last several months, ARES has worked diligently to improve its balance sheet, and we have succeeded. The results are we have been able to retire more than $1,400,000 in liabilities from the Company's balance sheet. As of March 31, 2004, ARES had $510,000 in liabilities, and more than $2,000,000 in assets -- bringing the company's "stockholders' equity" to more than $1,500,000.
EagleRider Franchisee Acquisition
Earlier this year, ARES announced the acquisition of a 40% equity ownership in 449 Corp. and WDHQ, Inc., which are operating franchises of EagleRider, Inc. EagleRider is the world's largest motorcycle rental and Tour Company, and 449/WDHQ is the largest franchisee with operations in San Diego, Palm Springs, St. Louis, and Miami. The Company is currently evaluating its future plans for the equity ownership and the potential for new future EagleRider franchises.
In Summary
In summary, we are pleased to announce the significant progress that ARES has made in recent months. With the formation of our new Software and Technology Division, the acquisition of the assets of Self-Serve Technologies, and a much improved balance sheet, we look forward to a bright future for AmeriResource Technologies. We have received great feedback from shareholders, and ask that you keep the phone calls and emails coming. We will continue to work hard to build shareholder value and realize our vision for achieving success.
Sincerely,
/s/ Delmar A. Janovec
CEO
AmeriResource Technologies
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission. The Company will provide you with copies of this information upon request.
quote:
Originally posted by bonz061583:
Do you think it can still run?
Thank you LOL
quote:
Originally posted by bonz061583:
Do you think it can still run?