American Commerce Solutions, Inc. Stays the Course
BARTOW, Fla., June 2 -- American Commerce Solutions, Inc. (BULLETIN BOARD: AACS) today emphasized its commitment to its strategic business plan.
Daniel L. Hefner, Chief Executive Officer and President of American Commerce Solutions, Inc., announced today that he and the Board of Directors continue to be confident that the business plan under which the company currently operates is sound and will be the catalyst to long-term success if properly implemented.
Hefner stated, "We have consistently noted that the business plan of American Commerce Solutions, Inc. is the blueprint of our future and success. That plan calls for a commitment to growth by acquisition and increasing shareholder value through reduced balance sheet debt and/or increase in the asset base. It is easy to lose sight of the objective in light of the emphasis to see immediate improvement in profitability at any cost. Since we have just released the 10KSB for our year ending February 29, 2004, I thought it quite appropriate to point out the following statistics by comparison to the year end 2003:
Cash in bank increased by 448% Total current assets increased by 94% Total other assets increased by 5% Total current liabilities decreased by 13.5% Total stockholders' equity increased by 21% These statistics are in line with our stated business objectives."
In addition, the company acquired Chariot Manufacturing Company, Inc. during the fiscal year and has active negotiations continuing for additional acquisitions.
Hefner went on to say, "We will continue our current emphasis in the fiberglass industry. We have made tremendous progress with Chariot Trailers. This multi-billion dollar fiberglass industry has much to offer those who pursue its opportunities. We are preparing to participate in its potential."
Hefner continued, "I have stated this before, but it bears repeating. Through the company's e-mail address, info@aacssymbol.com, we continue to receive many inquiries about the company's expansion plans and progress. We also receive many telephone calls from stockholders closely following the company's movements. We are, of course, limited in our ability to respond in specifics. We will continue to encourage requests for information about the company as well as the stockholders' comments about our performance. Fresh ideas and perspectives are welcomed from those who have a vested interest in the success of the company."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward- looking statements, including but not limited to, certain delays and risks detailed from time to time in the company's filings with the Securities and Exchange Commission.