News for 'ARES' - (AmeriResource Technologies to Trade Under New Symbol "AMRE")
LAS VEGAS, NV, Dec. 16, 2004 (MARKET WIRE via COMTEX) -- AmeriResource
Technologies Inc., (OTC BB: ARES) announced that with completion of a reverse
stock split of its common stock, it will be trading under the ticker symbol,
"AMRE," effective at the open of trading on December 17, 2004.
The reverse split is pursuant to the Board of Directors' approval and a
Definitive Information Statement filed with the Securities and Exchange
Commission on November 8, 2004 whereby the 40:1 reverse stock split was approved
by majority shareholder vote and became effective on December 16, 2004.
Delmar Janovec, AmeriResource President commented, "The Board advised that it
was in the best interest of the Company and its shareholders to complete a
recapitalization of our common stock. Management feels the Company will benefit
from this revised capital structure as we continue to move forward on our new
business development initiatives.
"This year we have made significant improvements to our business on a number of
fronts. Particularly with growth opportunities and acquisitions, most notably
the incubation of Self-Serve Technologies and its merging with RoboServer
Systems Corp.
"With opportunities such as these, in addition to new business development we
are entering into, 2005 is certain to be our most exciting year yet, at
AmeriResource," concluded 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.
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
SOURCE: AmeriResource Technologies, Inc.