Amelot Holdings Announces Debt Reduction and Purchase of Shares by Its President
September 01 2010 - 9:00AM
Marketwired
Amelot Holdings, Inc. (PINKSHEETS: AMHD) today announced that
through the issuance of 315 million shares of the Company's common
stock, liabilities from its balance sheet have been decreased by
over $140,000.
Mr. Guarnieri has purchased 265 million of the 315 million
shares giving him current ownership of over 1 billion shares. Mr.
Guarnieri has purchased and fully paid for all of the shares he
owns. The recent purchase of shares is restricted for a period of
one year, after which they can only be sold using the "Dribble
Rule" which allows selling by an insider of not more than one
percent of the Outstanding per quarter.
The other 50 million shares carry a restricted legend, and are
to be restricted for a minimum of one year.
"It has been difficult for us to move forward in the manner and
speed with which I would like us to, without having access to the
necessary funding carrying favorable terms and conditions. Taking
debt off the books while at the same time not creating immediate or
short term dilution to the shareholders, I feel is in the best
interest of us all.
"To further strengthen Amelot's position and to show my
continued faith, support and confidence in the future of the
Company, I have renewed my employment contract for another one year
term and will accept no compensation for this period. I would also
like to add that I have received no compensation in any form from
the Company since becoming President and CEO in June of 2009. All
monies received by Amelot have been used for paying down debt and
taking measures to build substantial future revenues. I will
continue working hard and doing everything under my power to
increase shareholder value," concluded Fred Guarnieri, President
and CEO.
In a press release dated August 20, 2010, the Company announced
it had removed its Corporate Secretary, Mr. Andrew L. Schwab. The
Company would further like to mention that Mr. Schwab had his own
private practice and was not a salaried employee or salaried
officer of Amelot. He was retained by the Company for services as
needed, and compensated for those services by Company check.
The current outstanding common shares balance is 4,624,573,155
and the number of authorized shares is 4,925,000,000. Mr. Guarnieri
currently owns 1,001,275,000 shares of the Company's common
stock.
About Amelot Holdings, Inc. (PINKSHEETS: AMHD):
Amelot Holdings, Inc. (http://www.amelotholdings.com), a
publicly traded company, is a diversified holding company that has
identified Biodiesel as a multi-billion emerging Biofuel market.
Amelot plans to have a significant market share in growing low cost
feedstocks to supply the growing demand for biodiesel, to reduce
energy dependency of fossil fuels, to help reduce the U.S.
dependency on foreign oil supplies and reduce the impact of energy
on our environment.
Statements in this press release that are not historical facts
are forward-looking statements within the meaning of the Securities
Act of 1933, as amended. Those statements include statements
regarding the intent, belief or current expectations of the Company
and its management. Such statements reflect management's current
views, are based on certain assumptions and involve risks and
uncertainties. Actual results, events, or performance may differ
materially from the above forward-looking statements due to a
number of important factors, and will be dependent upon a variety
of factors, including, but not limited to, our ability to obtain
additional financing and access funds from our existing financing
arrangements that will allow us to continue our current and future
operations and whether demand for our products and services in
domestic and international markets will continue to expand. The
Company undertakes no obligation to publicly update these
forward-looking statements to reflect events or circumstances that
occur after the date hereof or to reflect any change in the
Company's expectations with regard to these forward-looking
statements or the occurrence of unanticipated events.
Contact: Amelot Holdings, Inc. 1(866)-669-8373
support@amelotholdings.com http://www.amelotholdings.com
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