SAN DIEGO--(BUSINESS WIRE)--Aug. 9, 2004--American Fire Retardant Corp. (OTCBB:AFRT - News) announced today that it continues to grow through acquisition. American Fire Retardant Corp, American Safety Products, Inc. and AFRC Capital Group, Inc. announced a letter of intent to acquire a well-established regional transportation and material handling company in San Diego County. This new addition to the team will allow AFRC and its partner companies to more efficiently manage the costs related to distribution, control delivery schedules and plan for the continued growth in the Life Safety industry. "In addition to adding to both our short-term and long-term growth strategies," Mr. Randy W. Betts, AFRC's CFO says, "this acquisition will add substantially to our revenue numbers." He adds, "AFRC has greatly reduced debt this year and now we are focused on increasing revenues and earnings."
Mr. James Wheeler, Vice President of Sales and Marketing, added "In 2003-2004, we have successfully launched new products, marketed several brands and developed many new marketing concepts. We have made strategic acquisitions, identified others and with the growth mandate initiated by Mr. Stephen F. Owens, President of American Fire Retardant Corp., 2004 has been, and will continue to be, a very exciting year of growth and progress.
About American Fire Retardant Corporation
American Fire Retardant Corp. (OTCBB:AFRT - News) -- www.americanfireretardant.com -- is in the business of developing, manufacturing and marketing a line of interior and exterior fire retardant products. American Fire Retardant Corp. also designs new technology for future fire resistive applications that are being mandated by local, state and governmental agencies. Additionally, the company is active in the construction industry as sub-contractors for fire stop and fire film installations.
posted
STAY AWAY if you like your money. Go to some of the other threads and read about this thieving co. and lying CEO. They are RS kings and print worthless shares by the billions.........
Also - stay away from Gateway (GWAD) and Pacel (PCCL) for exactly the same reasons.
Posts: 2793 | From: Coral Springs, FL, USA | Registered: Aug 2003
| IP: Logged |
posted
Swing this if you have the nerve but never go to bed owning it. Three, yep 3 R/S in a very short period. They pump it up with lame PR's then do the R/S and take your money. They got 87% of my investment a few weeks ago and will do it again, and again and again.......with your money if you let them, it's how they survive. They sure don't make it on their lame products. I look to see them start pumping their fire retarded chemical (not a typo) close to Christmas for those like me who had faith in the product but were blinded to the inner workins of these scam artist. I think I just got caught between two pumpers last October and it really looked good in theory. It bites on a balance sheet when I look at my portfolio however. Just be careful and try the swings.....but never, never go to bed owning it. Dakota told you that......
------------------ Dakota Just because I'm paranoid don't mean there ain't someone behind me........
Posts: 172 | From: Kodak, TN, USA | Registered: Feb 2004
| IP: Logged |
posted
Didn't they just announce another upcoming reverse split? Maybe a month or so ago?
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
| IP: Logged |
posted
Sorry to answer my own question but I just looked it up. On 7/2/2004 they filed a DEF 14C stating they would have a 1 for 250 reverse split within 12 months of the filing. It wont be 12 months though, probably within the next two would be my guess. Dakota is right, swing it if you have the brass to but don't go to bed owning it!
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
