Amelot Holdings Amicably Resolves Dispute With Turning Mill Consultants
30 Agosto 2010 - 10:15AM
Marketwired
Amelot Holdings, Inc. (PINKSHEETS: AMHD) today announced an
agreement with Turning Mill Consultants of Sandwich, Massachusetts
resolving a dispute over a $125,000 invoice. Amelot had retained
Turning Mill Consultants to be the Engineering and Procurement
Contractor for the planned biodiesel facility in New England. The
containerized Biodiesel processing equipment was to be manufactured
by Fitzsimmons Systems, Inc. of Syracuse, New York.
Amelot's suit against Fitzsimmons Systems, Inc., and its CEO,
Lowell Todd Fitzsimmons, alleging breach of contract in the failure
to deliver the containerized biodiesel equipment, is currently
pending in the New York State Supreme Court, although the action
against Mr. Fitzsimmons has been stayed by his filing for Chapter 7
bankruptcy protection.
"I am pleased to have been able to resolve this matter with
Turning Mill Consultants and bring it to a satisfactory conclusion.
Eliminating this debt from our balance sheet is a major event for
the Company. This will make us more attractive to lenders,
investors, and others wishing to conduct business with us," said
Fred Guarnieri, President and CEO of Amelot Holdings.
The current outstanding common shares balance is 4,309,573,155
and the number of authorized shares is 4,925,000,000. Mr. Guarnieri
currently owns 736,275,000 shares of the Company's common stock.
There have been no issuances of additional shares since August
2008.
About Amelot Holdings, Inc. (PINKSHEETS: AMHD):
Amelot Holdings, Inc. (http://www.amelotholdings.com), a
publicly traded company, is a diversified holding company that has
identified Biodiesel as a multi-billion emerging Biofuel market.
Amelot plans to have a significant market share in growing low cost
feedstocks to supply the growing demand for biodiesel, to reduce
energy dependency of fossil fuels, to help reduce the U.S.
dependency on foreign oil supplies and reduce the impact of energy
on our environment.
Statements in this press release that are not historical facts
are forward-looking statements within the meaning of the Securities
Act of 1933, as amended. Those statements include statements
regarding the intent, belief or current expectations of the Company
and its management. Such statements reflect management's current
views, are based on certain assumptions and involve risks and
uncertainties. Actual results, events, or performance may differ
materially from the above forward-looking statements due to a
number of important factors, and will be dependent upon a variety
of factors, including, but not limited to, our ability to obtain
additional financing and access funds from our existing financing
arrangements that will allow us to continue our current and future
operations and whether demand for our products and services in
domestic and international markets will continue to expand. The
Company undertakes no obligation to publicly update these
forward-looking statements to reflect events or circumstances that
occur after the date hereof or to reflect any change in the
Company's expectations with regard to these forward-looking
statements or the occurrence of unanticipated events.
Contact: Amelot Holdings, Inc. 1(866)-669-8373
support@amelotholdings.com http://www.amelotholdings.com
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