Press Release Source: AmeriResource Technologies, Inc.
ARES Letter to Stockholders: Company Assets Increase to $2.14 Million
Tuesday September 14, 5:30 am ET
LAS VEGAS, NV--(MARKET WIRE)--Sep 14, 2004 -- AmeriResource Technologies, Inc. (OTC BB:ARES.OB - News) 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.OB - News)
September 14, 2004
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Dear ARES Stockholders,
The last few months have been productive for AmeriResource, its management, and its shareholders. There have been a number of accomplishments in our internal business and operation plan, and I would like to take the opportunity to share those with you now.
We continue to make significant improvements to our business operations on many fronts -- including financial condition, growth opportunities, and acquisitions. The future, both short and long term, will be positive for AmeriResource as these and other accomplishments come to fruition and begin to show results.
Assets Increase to $2.14 Million
In my last Letter to Shareholders, I reported that ARES has been working very hard to improve its balance sheet, and we have done just that. The results are positive in that we have been able to retire in excess of $1,400,000 in liabilities from the Company's balance sheet over the last ten months. With further improvements during the second quarter, the Company has now reached $2,140,000 in assets, as of June 30, 2004, with $514,000 in liabilities. This further improvement now brings the Company's "stockholder equity" to more than $1,600,000.
Software & Technology Division, Other Potential Acquisitions
In this past quarter ending June 30, 2004, ARES took a positive step forward in its business direction by announcing the formation of a Software and Technology Division. We made what we believe to be a key strategic move with the acquisition of the POS software & hardware systems and Self-Serve application. The POS software & hardware systems and the Self-Serve application will be marketed through Self-Serve Technologies, Inc. and as it continues to develop, grow, and maximize in value, we will continue to evaluate a number of other potential acquisitions and associated projects that could possibly take place over the next twelve months.
Perhaps of even greater significance, we have signed a Letter of Intent to acquire J&B Wholesale Produce, Inc., a subsidiary of Raptor Investments, Inc. J&B is in the business of providing fresh produce to numerous restaurants and fast-food chains in South Florida, and has done so successfully for over 10 years. While this clearly is not a "technology acquisition," J&B Wholesale Produce has significant revenues with strong gross profits and is a good partner fit to market the products and services of Self-Serve Technologies, Inc. due to its customer base within the food industry.
Currently, Management has completed its first phase of its due diligence process of J & B Wholesale Produce and we plan to continue moving forward as rapidly as possible. However, with the severe weather in the State of Florida this summer, the process has been delayed. As updates become available further news will follow.
Developments of Self-Serve Technologies, Inc.
On June 15, 2004, ARES announced the acquisition of a Point-of-Sales software & hardware system and Self-Serve application for the food industry, which has been deployed for more than three years. Its primary focus is on providing Point-of-Sale and self-serve technology software, hardware, and installation services to the food service industry -- particularly that of the fast-food and quick-serve food industries. Since then, we have opened a new office in Carlsbad, CA for Self-Serve Technologies, Inc.
American's have watched self-serve technology explode throughout the banking industry (ATM machines), then the grocery chains, hardware chains; and now it is predicted that the fast-food industry is next. We believe strongly in the growth of self-serve technology within the fast-food industry, and that ARES and Self-Serve Technologies, Inc. are poised to capture a significant portion of this growth in the years to come.
On August 31, 2004, ARES filed a Form 8-K disclosing that it entered into an agreement whereby it sold its 100% interest in its subsidiary, Self-Serve Technologies, Inc., to RoboServer Systems Corp. In exchange, RoboServer Systems Corp. sold to AmeriResource Technologies, Inc. 25,000,000 shares of RoboServer Systems Corp. Common Stock and 6,500,000 shares of RoboServer Systems Corp. Super Voting Preferred Stock. Following the transaction, AmeriResource Technologies, Inc. owns approximately 99% of all of the voting rights in RoboServer Systems Corp. The transaction represents 100% for 99% in a stock for stock exchange. Further, it should be noted, that ARES and Self-Serve Technologies, Inc. management now controls management of RoboServer Systems Corp.
Currently, ARES has taken the position of a "quiet period" regarding this transaction, other than the information that was disclosed in the Form 8-K and in this letter. It should be noted, however, that management will soon be announcing all of our plans for this subsidiary.
EagleRider Franchisee Acquisition
Earlier this year, ARES announced the acquisition of a 40% equity interest in 449 Corp. and WDHQ, Inc., which are operating franchisees of EagleRider, Inc. EagleRider is the world's largest motorcycle rental and tour company, with 449/WDHQ being the largest franchisee. Future plans for this company and our equity position are undetermined while we review and evaluate several possibilities. 449 & WDHQ currently has operations in San Diego, Palm Springs, St. Louis, and Miami.
In Conclusion
We have made significant progress in our business objectives this year and have assembled a strong team of core people that are undoubtedly working diligently to build value for the Company and its shareholders. In short, this Company is in a much better financial position than it has been in several years with many new opportunities before us.
Given all of the exciting developments at present, please continue to keep abreast of ARES developments in the very near future.
Sincerely,
/s/ Delmar A. Janovec
CEO
AmeriResource Technologies, Inc.
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.
Contact:
Contact:
AmeriResource Technologies Inc.
Delmar Janovec
(702) 214-4249
ARESCEO1@cs.com
http://www.ameriresourcetechnologies.com
Sussex Avenue Partners, LLC
John Hicks
(760) 918-5592
Toll-Free: (866) 878-7739
Email: john@sussexavenuepartners.com
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Source: AmeriResource Technologies, Inc.
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