Accident Prevention Plus, Inc. to Lower Amount of Issued and Outstanding Shares
PALM BEACH GARDENS, Fla.--Nov. 6, 2002--Accident Prevention Plus, Inc. (OTCBB:ACPL), in reference to the previous press release dated October 2, 2002, announces today that Bristol Consulting Ltd. (Bristol) has agreed to the return of 3.5 million shares of Accident Prevention Plus, Inc. common stock. The Company intends for these shares to be deposited back into treasury within the next seven to ten business days decreasing the issued and outstanding to 6.5 million shares.Jennifer Swanson, Executive Vice President and CFO of Accident Prevention Plus, Inc., explained the circumstances of this event and others as such, "Our goal with Accident Prevention Plus, Inc. is twofold; first has been the implementation of the revenue stream and expanding our sales channels, second, and equally important, is to review all past agreements, issues and liaisons and to ensure that all actions past, present and future are in the best interest of our shareholders. Although Bristol was an invaluable catalyst for the Company when going public, new management feels that other directions will be taken for the future to ensure the Company's success and profitability for its shareholders, while still maintaining a good standing relationship with Bristol."
Ms. Swanson also stated, "in this day and age it is important that our executive team remember that the shareholders own this Company. It is my intention and has been from my beginning to ensure our shareholders are not only protected but can also be confident that any and all forward movement our Company takes will directly benefit the bottom-line of Accident Prevention Plus, Inc. and be in the Company's best interest.
Accident Prevention Plus, Inc. (ACPL) located in Palm Beach Gardens, FL, is a technology company which designs, manufactures and distributes On Board Recorders for all types of vehicles. The Company specializes in the safety, economic enhancement and security for vehicles, drivers and cargo. Our products are sold worldwide. Our engineers design all our software and firmware, as well as any hardware we require. Accident Prevention Plus, Inc. owns all of its intellectual properties. For IR package call 561-721-2220.
This press release contains certain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's current expectations of beliefs and are subject to a number of factors and uncertainties that could cause actual results, levels of activity, performance or achievements to differ materially from those described.