posted
AMRE subsiderary NAUC (.93 cents) has been flying yet amre (.008)hasn't been noticed yet except the volume on amre is HUGE?? Anyone else see this? Comments??
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. On February 28, 2006, AmeriResource Technologies, Inc., a Delaware corporation ("AMRE"), became due and payable under the Fourth Addendum (as defined below) to American Factors Group, LLC, a New Jersey limited liability company ("AFG"), for a total debt, including interest, of $637,509.75 ("Debt"). The Debt stems from a Settlement and Release Agreement ("SRA") and Promissory Note ("Note") entered into by AMRE on or about August 2, 2000, whereby AMRE agreed to repay certain obligations to AFG. The Note was guaranteed by Delmar Janovec, a Nevada resident and President of AMRE ("Janovec"). As AMRE is in default under the Fourth Addendum to the SRA (as defined below), AMRE is currently negotiating with AFG to either enter into a final settlement whereby the Debt will be repaid, or agree to terms whereby an extension for repayment by AMRE will be granted by AFG.
AMRE, AFG, and Janovec (stemming from his guarantor role) have entered into four addendums to the SRA, with the Parties agreeing in the fourth and latest such addendum, executed on February 28, 2005 ("Fourth Addendum"), that the total amount owed to AFG by AMRE and Janovec, including accrued interest, was 484,693.29, with an additional penalty of $55,975.03 for AMRE and Janovec's failure to meet the terms of the third addendum executed by the Parties. The Parties also agreed that interest would accrue at 18% per annum, compounded monthly, beginning on February 28, 2005, and the entire debt owed under the Fourth Addendum, with all accumulated interest, would be due and payable in one year.
-------------------- Trading is a blast!! Posts: 4921 | From: Rhode Island | Registered: May 2005
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AMRE should move upward to match NAUC due to their ownership of NAUC. AMRE is selling at an extreme discount to NAUC as their ownership interest is largely unknown IMO
Posts: 2292 | Registered: Mar 2005
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The news for AMRE having Nauc as a subsidary is dated on may 2005 and Rbsy is a while back also. Nauc once traded over 2.00 and Rbsy spiked to 1.95 a month ago. Why is AMRE not being affected? Are the financials independent? It does seem like a good idea to buy AMRE but despite those facts, I can't figure out why it is so low at .008 with a 52 week high of 0.25. I will watch AMRE closely.
Posts: 203 | From: Ft Collins, CO | Registered: Nov 2005
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We are moving up! AMRE will catch up with the value of those two companies. Look at the volume, it's being discovered.
Posts: 2292 | Registered: Mar 2005
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AMRE will pop next week imo....great chart...good volume...people have been accumulating this week...im in...gl
Posts: 56 | From: Pa | Registered: Dec 2005
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90% of the buys today were at .009...it will break through next week...its ready...have a good weekend everyone
Posts: 56 | From: Pa | Registered: Dec 2005
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