Published:
Automotive Specialty Concepts Announces a Forward Stock Split
Automotive Specialty Concepts (OTC: AMVS)
announced that the Board of Directors of the Company approved a 10 for 1
forward split of the Company's common stock.
The forward stock split is progressing as planned and will be effective on
December 19, 2005. Stockholders of record on December 16, 2005 will be
entitled to ten (10) shares of common stock for each share of common stock
held on that date in accordance with the resolution of the board of
directors. The proposed stock split is subject to regulatory approval.
The Board deemed it prudent and essential to take this step to thank their
loyal shareholder base as the Company now embarks on aggressive efforts to
execute its strategic growth initiatives and create international awareness
of its potential.
Forward splits can
-- Help companies broaden their capital base
-- Provide more liquidity for shareholders by attracting new investors
-- Help companies develop a more robust market for their stock
-- Better enable acquisitions, strategic arrangements and financing
-- Forward splits are often an indication that a company's long-term
business outlook is favorable
"In 2005, AMVS is implementing a two prong approach to build shareholder
value: First, to boost its product base and sales; by acquisition, seeking
innovative products, building distribution channels, signing new high
school and universities to our showcase and second, to complete our
business plan to be presentable for accredited investors," stated Paul
Stringer, CEO of AMVS.
He continued to say, "AMVS has already made strides toward the first
objective as our new website is becoming our platform to market our
products, we are setting up sales through third party outlets like Amazon
and EBay, we signed The University of Oregon and have made numerous
proposals to giants like office suppliers, home improvement suppliers,
sports leagues (MLB, NFL, NBA, etc) and beverage manufactures for our
switch plate products.
"For the second objective, the company is completing our business plan with
support from our analyst Francis Gaskins of www.ipodesktop.com who is a
financing specialist and we believe the forward split is a step towards
that direction."
About Automotive Specialty Concepts, Inc.
(http://www.automotivespecialtyconcepts.com/)
Automotive Specialty Concepts, Inc. is a provider of marketing alternatives
for the automobile industry specializing in sports memorabilia and
collectable artwork for the car owners, especially customized logos for
universities, and established sports leagues and teams. The company has
patent protection for its proprietary processes. The company also
specializes in fundraising and drug awareness programs.
This press release contains forward-looking statements involving risks and
uncertainties including statements regarding the Company's future
performance. Such statements are based on management's current expectations
and are subject to certain factors, risks and uncertainties that may cause
actual results, events and performance to differ materially from those
referred to or implied by such statements. In addition, actual future
results may differ materially from those anticipated, depending on a
variety of factors which include, but are not limited to, our ability to
leverage our technology, manage our growth, protect our intellectual
property rights, attract new customers and general economic conditions
affecting consumer spending, including uncertainties relating to global
political conditions, such as terrorism and the conflict with Iraq. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company does not
intend to update any of the forward-looking statements after the date of
this release to conform these statements to actual results or to changes in
its expectations, except as may be required by law.
Distributed by Market Wire
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Tags: ,Automotive:Parts and Accessories, FinancialServices:InvestmentServicesandTrading, ,INTHPINK,WA,VANCOUVER, WA
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