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AmeriResource Acquires 40% of EagleRider's Largest Franchisee, the World's #1 Company for Rental of Harley-Davidson Motorcycles ( ) LAS VEGAS, NV, Feb. 04, 2004 (MARKET WIRE via COMTEX) -- AmeriResource Technologies Inc. ( OTC BB:ARES) and two privately owned companies announced today that AmeriResource has completed the purchase of 40% ownership in 449 Corporation and WDHQ, Inc., which are operating franchises of EagleRider, Inc. AmeriResource, is in the process of acquiring the remaining 58% equity in 449 Corporation and 60% of WDHQ Corporation. Upon completion of this acquisition process in the coming months, the acquired businesses will become, respectively, 98%-owned and 100%-owned subsidiaries of AmeriResource. According to AmeriResource's President, Delmar Janovec, "We have reached a major milestone in our acquisition plans, and we are pleased to become owners in EagleRider franchises operating in San Diego, CA, Palm Springs, CA, St. Louis, MO, and Miami, FL. EagleRider, Inc. is a strong organization that dominates multiple markets in renting Harley-Davidson motorcycles and offering tours. EagleRider also offers Adventure Rentals of dirt bikes, all-terrain vehicles (ATVs), personal watercraft, and snowmobiles. EagleRider pioneered the motorcycle rental and touring industry as we know it today, with their worldwide network for renting Harley-Davidson motorcycles. Harley-Davidson is one of the most respected brands in the world, and Harley Davidson, Inc. has 18 years of record revenues and profits."
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
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AMERIRESOURCE TECHS INC (ARES) Industry: Construction Services
Quote News Company Profile Charts Option Chains
AmeriResource Tech., Inc. OTC : ARES Industry: Construction Services Sector: Capital Goods AmeriResource Technologies provided diversified engineering services throughout the United States. The Company is currently exploring strategic opportunities. For the 9 months ended 9/03, revenues rose 46% to $1.6M. Net loss rose 53% to $976K. Revenues reflect increased service income received due to new interest in an aluminum engine block. Net loss was offset by higher SG&A expenses, consulting fees and employee salaries and bonuses. AmeriResource Tech., Inc. 3430 E. Russell Road Suite 116 Las Vegas , NV 89120 Phone: (702) 214-4249
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.
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