Motorcycle Builder American Eagle Approves Reverse Stock SplitCARLSBAD, Calif.--Aug. 1, 20048, 2004--American Eagle Manufacturing Company, Inc., (OTCBB:AEMC), a Nevada Corporation, engaged in the assembly and sale of custom built motorcycles, announces today that its Board of Directors has approved a 1-for-10 reverse stock split of the Company's stock. Shareholders as of the record date August 17, 2004, will receive instructions by mail how to convert their current shares to new shares.
As a result of the reverse stock split, every ten shares of American Eagle common stock will be exchanged for one share of American Eagle common stock. The reverse stock split affects all shares of common stock, stock options and warrants outstanding as of immediately prior to the effective time of the reverse stock split. The number of shares of American Eagle common stock currently outstanding is 28,466,060.
"This move is intended to prepare American Eagle for future business opportunities. I would like to take this opportunity to thank our shareholders for their past and future support," said Larry N. Lunan, CEO and President, American Eagle Manufacturing Company, Inc.
About American Eagle
American Eagle, is located in a 35,000 square foot production facility in Carlsbad, California. American Eagle assembles and sells custom motorcycles. All American Eagle motorcycles are custom built and assembled in-house, with double powdered coated frames and available "trick" paint schemes. The wholesale/dealer price allows the dealer to offer a retail range of $19,200 to $70,000 depending on model and options. American Eagle motorcycles are listed in the NADA and Kelly Blue Book. Additional information regarding American Eagle can be found at http://www.americaneaglemotorcycles.com/