American Commerce Solutions, Inc. Reveals Plan for a New Division
11 October 2008 - 12:00PM
Marketwired
American Commerce Solutions, Inc. (OTCBB: AACS) today discussed the
possibility of establishing a new division of the company through
acquisition.
Chief Executive Officer and President Daniel L. Hefner today
reported that he has been in negotiation to further diversify AACS
by creating a new division of the company through acquisition.
Hefner stated, "Along with our investors, we recognize the need to
broaden our revenue base to spread the overhead burden and bring
the company's consolidated financial statement into the black. Our
business plan has always emphasized growth by acquisition. In
today's economic and financial climate, consolidation of revenue
and assets will be a winning ticket. AACS does not lack assets, but
consistent revenue growth has been elusive within our current
subsidiaries. I am stating this despite the fact that AACS
experienced a twenty percent plus year over year revenue increase
at fiscal year end February 29, 2008. We need to work to ensure
that revenue growth is not an anomaly, but an expectation."
Hefner continued, "The acquisition currently being negotiated
brings revenue, improved cash flow, profitability and explosive
growth potential. I know that the question will be asked, 'How can
you make acquisitions with AACS stock trading at these levels?' The
simple answer is that our current negotiations involve payment in
the form of cash/debt, stated value preferred stock (at multiples
of our current share price), employment contracts with earn-up
provisions to pay the purchase price. By blending these payment
options, we benefit today and pay with future dollars."
According to Mr. Hefner, due diligence will be completed soon
and announcements will follow.
Affiliated websites: www.aacssymbol.com
www.chariot-trailers.com
www.americanfibergreenproducts.com
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained in this release that
are not historical, are forward-looking statements that are subject
to risks and uncertainties that could cause results to differ
materially from those expressed in the forward-looking statements,
including but not limited to, certain delays and risks detailed
from time to time in the company's filings with the Securities and
Exchange Commission.
Contact information: Daniel L. Hefner 813-244-9843
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