AmeriResource Announces New Stock Symbol, ARIO
12 Junho 2008 - 7:27PM
Marketwired
LAS VEGAS, NV , a diversified holding company, announced that
effective today it has completed its one-for-four hundred reverse
stock split and that its stock will be trading under the symbol
ARIO (OTCBB: ARIO).
"This new capital structure and new stock symbol marks a new
time for AmeriResource. Having recently announced a 217% revenue
increase for the first quarter ended March 31, 2008 over the same
period in 2007, and a 245% revenue increase for the year-ended
December 31, 2007 over calendar year 2006, the Company has
experienced strong revenue growth that requires some changes,"
noted Delmar Janovec, CEO of AmeriResource.
"The Board and management believe the reverse stock split was in
the best interest of the Company and its shareholders on a
long-term basis. Having undergone this strong revenue growth, we
believe this will enhance the Company's flexibility with regard to
matters that may be identified from time to time such as financing,
employee compensation, potential acquisitions, strategic business
relationships, and the further expansion of our operating
subsidiaries, BizAuctions, Inc., RoboServer Systems Corp., and
AuctionWagon, Inc."
The new stock symbol ARIO and reverse split of its common stock
will be effective as of market open on June 13, 2008. All
fractional shares were rounded up to the next whole share, and the
percentage ownership interest of all existing shareholders
essentially remained the same.
The Company encourages the public to read the above information
in conjunction with its year-end statement, Form 10-KSB for
December 31, 2007, and the first Quarter Form 10-Q financial
statement ended March 31, 2008. The financial statements can be
viewed with the Securities and Exchange Commission, at
www.sec.gov.
ABOUT AMERIRESOURCE: AmeriResource is a diversified holding
company with headquarters in Las Vegas, Nevada. It operates
BizAuctions, Inc., AuctionWagon, Inc., and RoboServer Systems
Corp., among others. For more information on the Company and its
operating subsidiaries, please see the Company's website at
http://www.ameriresourcetechnologies.com.
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 that is on file with the Securities and
Exchange Commission, at www.sec.gov., and other publicly available
information on the Company. The Company will provide you with
copies of this information upon request.
Contact: AmeriResource Technologies, Inc. Delmar Janovec at
(702) 214-4249 Email: Email Contact
http://www.ameriresourcetechnologies.com
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