President Delmar Janovec continues, "We have successfully implemented all of the first phase of our acquisition and have made significant progress in the second phase of this two-phase acquisition of these EagleRider franchises. When the acquisition is completed, the combined operations of these new acquisitions with our current operations should more than double our total revenues on an annual basis. This acquisition is a key part of our plan to become profitable from operations during 2004."
Don Swedo, the President of both private companies, explains, "The announcement today that AmeriResource now owns 40% equity in our operations is an important part of our plans for the future. Over the past five years, we've steadily grown our EagleRider rental businesses, and today we are EagleRider, Inc.'s largest franchisee."
Don Swedo continues, "I will continue to serve as President of both companies, working with AmeriResource in implementing our strategic plan to reach the next level of business success. The recreational rental market and the motorcycle tourism market continues to grow significantly, especially in light of Harley-Davidson's 100th Anniversary in 2003. For more information on our franchise locations, as well as EagleRider, Inc., go to http://www.eaglerider.com. Through EagleRider's website, you can reserve your Harley-Davidson or Adventure Rentals' vehicle, and prepay with any major credit card."
About EagleRider, Inc. ("EagleRider") http://www.eaglerider.com/company_summary.html explains: "Founded in July 1992, EagleRider is the world's largest motorcycle rental and tour company that has defined a unique, high growth niche market for itself: Marketing the 'American Dream' to destination-minded vacationers, businessmen and motorcyclists. EagleRider provides a full-service Harley-Davidson Motorcycle rental and tour resource that caters to international and domestic motorcycle enthusiasts and aficionados. Over 100,000 EagleRider customers have enjoyed the ultimate vacation adventure by touring the United States, Europe and Mexico on the 'Rolls Royce' of the motorcycle world, the prestigious Harley-Davidson. EagleRider, Inc. has already built a fleet of well over 1,500 Harley-Davidson motorcycles out of its 30 worldwide rental facilities. In addition, EagleRider is the single largest purchaser of new model motorcycles from Harley-Davidson Motor Company. EagleRider offers the complete Harley-Davidson model line through a global marketing network of tour operators, travel agents, airlines and travel wholesalers." For more information about EagleRider and/or about renting a Harley-Davidson, see http://www.eaglerider.com
About 449 Corporation and WDHQ, Inc.: 449 Corporation and WDHQ, Inc. are affiliate companies in the rental business, with Don Swedo serving as the President of both Corporations. 449 Corporation owns and operates EagleRider franchises in San Diego and Palm Springs, CA. WDHQ, Inc. owns and operates EagleRider franchises in St. Louis, Mo. and Miami, Florida. The two corporations together represent the largest EagleRider franchisee, and EagleRider is the #1 Company in the world for the rental of Harley- Davidson motorcycles.
About AmeriResource Technologies Inc. ("AmeriResource"): AmeriResource is a publicly trading company ( OTC BB:ARES) that operates two wholly owned subsidiaries: Jim Butler Performance (JBP) and West Texas Real Estate and Resources, Inc. (WTRER). JBP is in the business of manufacturing and selling high-performance specialty engines and parts for the automobile racing industry. For more information, see http://www.jbp-pontiac.com. WTRER holds oil, gas, and mineral leases on land in Pecos County, Texas. For more information, see http://www.ameriresourcetechnologies.com
The information contained in this press release includes 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.
Contact:
AmeriResource Technologies Inc.
Delmar Janovec at (702) 214-4249
ARESCEO1@cs.com http://www.ameriresourcetechnologies.comInvestor Relations
Sussex Avenue Partners LLC
Gabriel Glass or John Hicks at (760) 918-5592
Toll-free: (866) 878-7739
Email: john@sussexavenuepartners.com
Employees: 10
Market Cap (Mil) $ : 1.95
Updated: 1/30/2004
Officers: Delmar Janovec, Pres./CEO.
Transfer Agent: Interwest Transfer Co. Company incorporated 1988 in DE.
Direct inquiries to: Delmar Janovec, Pres./CEO.
Key Ratios & Statistics
Price & Volume
Recent Price $ 0.01
52 Week High $ 0.06
52 Week Low $ 0.00
Avg Daily Vol (Mil) 6.133
Beta 1.943
Share Related Items
Mkt. Cap. (Mil) $ 1.95
Shares Out (Mil) 243.92
Float (Mil) 214.70
Dividend Information
Yield % N/A
Annual Dividend $ 0.00
Payout Ratio (TTM) % 0.00
Financial Strength
Quick Ratio (MRQ) 0.05
Current Ratio (MRQ) 0.09
LT Debt/Equity (MRQ) 0.00
Total Debt/Equity (MRQ) 4.06
Valuation Ratios
Price/Earnings (TTM) N/M
Price/Sales (TTM) 0.46
Price/Book (MRQ) 10.34
Price/Cash Flow (TTM) N/M
Per Share Data
Earnings (TTM) $ -0.02
Sales (TTM) $ 0.02
Book Value (MRQ) $ 0.00
Cash Flow (TTM) $ -0.00
Cash (MRQ) $ N/M
Mgmt Effectiveness
Return on Equity (TTM) % -877.69
Return on Assets (TTM) % -67.44
Profitability
Gross Margin (TTM) % 33.40
Operating Margin (TTM) % -69.03
Profit Margin (TTM) % -73.18
Mil = Millions MRQ = Most Recent Quarter TTM = Trailing Twelve Months
N/A = Not Available N/M = Not Meaningful
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