AMNE Reduces Over $200,000 in Liabilities
May 20 2009 - 8:45AM
Marketwired
American Green Group, Inc. (PINKSHEETS: AMNE) is pleased to
announce that it has reduced its liabilities by over $200,000 and
cleared the way for a Judgment against the company to be satisfied
without using any funds from the sale of its first county for
$250,000 announced yesterday.
The Judgment was against AMNE from loans made to a previous
company back in 2000 and 2001. Mr. Terry Mixon in January began
actively trying to resolve the issue which was signed off on
yesterday and documents will be filed with the states of Nevada and
Connecticut within the coming weeks evidencing the Satisfaction of
the Judgment.
In December of 2008, AMNE announced the beginning of a new
direction by aggressively entering the $6 billion dollar a year
foam industry and Mr. Mixon then President and now CEO has kept to
his word. In the last 6 months, the Company has completed several
acquisitions, reduced liabilities by over $200,000, and made good
on its word to give a dividend in the form of a forward split.
AMNE has grown from a one man operation to offices in 3 states:
Connecticut, Georgia, and Indiana. The Company is quickly moving
from national sales to international sales and has increased the
product line of Paradigm, the Company's marketing arm.
AMNE will begin to focus over the next 6 months on growing
revenues of its current product lines, selling territories and
licensing distributors for Ecosafe. A new web site is under
construction now for AMNE and Paradigm, which the Company hopes to
launch by mid June.
The Company believes all other remarks made in the release to be
accurate to the best of their knowledge.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
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