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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
SOURCE: American Commerce Solutions, Inc.
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