CEO and President of All American Pet Company, Inc. Take Pay Cuts
September 11 2013 - 3:01AM
Marketwired
All American Pet Company, Inc. (OTCQB: AAPT)
All American Pet Company, Inc. CEO Barry Schwartz and President
Lisa Bershan have elected to take a 50% cut in salaries and defer
bonus monies until the company is profitable. A team of business
advisors is joining the company to assist AAPT management achieve
expected sales and growth goals.
Barry Schwartz, CEO, stated, "An unanticipated failure of a
crucial piece of production line equipment significantly limited
the company's ability to adequately fulfill retail purchase orders.
The reduction of salary is management's responsibility for the poor
sales as stated in its last filing. The defective unit has since
been replaced. The new unit has been tested and put into active
production fulfilling all current client business and will meet any
demand presented by forthcoming client purchase orders."
All American Pet Company produces, markets, and sells wellness
products under proprietary brand names specifically for dogs.
This news announcement contains or may contain certain
"forward-looking statements" that are subject
to significant risks and uncertainties, including those detailed in
filings made by All American Pet Company, Inc. with the Securities
and Exchange Commission. We assume no obligation or undertaking to
update any forward-looking statements to reflect any changes in
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
You should, however, review additional risk factors and other
disclosures we make in the reports filed with the Securities and
Exchange Commission.
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All American Pet Company, Inc. www.allamericanpetcompany.com
Corporate Office: 310-689-7355 Investor Relations: 310-689-7357
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