LAS VEGAS, NV -- (MARKET WIRE) -- 06/23/04 -- AmeriResource
Technologies, Inc. (OTC BB: ARES) released the following Letter to
Stockholders and Business Development Update. All interested media,
shareholders, and the investment community at large are encouraged to
review the letter from ARES CEO Delmar Janovec for more information
on company developments.
AmeriResource Technologies Inc.
Letter to Stock Holders
OTC BB: ARES
June 23, 2004
Dear ARES Stockholders,
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
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, 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.
/s/ Delmar A. Janovec
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.
AmeriResource Technologies Inc.
Sussex Avenue Partners, LLC
Toll-Free: (866) 878-7739
Due Da Due......But Be Quick About It!!!!!