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(BSNS WIRE) American Technologies Group, Inc. Announces Shareholder Approva
American Technologies Group, Inc. Announces Shareholder Approval to Increase
Authorized Shares
Business Editors
MONROVIA, Calif.--(BUSINESS WIRE)--Sept. 3, 2002--American
Technologies Group Inc. (ATG) (OTCBB:ATEG) announced today that their
shareholders have approved an amendment to its certificate of
incorporation to increase the authorized number of shares of common
stock from 100 million to 1 billion shares at a special meeting held
at the Harvard Club in New York City on August 30, 2002. Total shares
voted (of 99.5 million common shares outstanding at the record date of
July 1, 2002) were 86.6 million; 81.4 million shares voted for the
proposal, 5.1 million against, and 0.1 million abstained. On a
percentage basis, 94.0 percent of votes cast were for, 5.9 percent
against, and 0.1 abstained.
Dr. Gary Fromm, Chairman of American Technologies Group, Inc., in
response to questions after the vote, said that the authorized share
expansion was needed to raise additional capital and for potential use
in mergers and acquisitions. American Technologies also intends to
pursue and strengthen its marketing of existing catalyst and distiller
products. Dr. Fromm introduced Mr. M. Yukawa who heads ATG Japan, an
independent marketing organization, for products in Japan and other
Asian countries. Greetings were received at the meeting from two
Japanese firms with whom discussions on marketing initiatives have
been held.
Discussions are proceeding with firms in Hong Kong, China, and
India on licensing, manufacturing and distribution rights for catalyst
production in those areas.
Except for the historical information contained herein, the
statements in this announcement are forward-looking statements which
involve risks and uncertainties that could cause actual results to
differ materially from those expressed in, or implied by, the
forward-looking statements. Factors that might cause such a difference
include, but are not limited to, general economic conditions in the
markets in which the company operates; success in the development and
market acceptance of new and existing products; dependence on
suppliers, third-party manufacturers and channels of distribution;
customer and product concentration; fluctuations in customer demand;
maintaining access to external sources of capital; ability to execute
management's margin improvement and cost control plans; overall
management of the company's expansion; obtaining of necessary
regulatory approvals; and other risk factors detailed from time to
time in the company's filings with regulatory bodies.
--30--mtb/la* mra/la
CONTACT: American Technologies Group, Inc.
Mary Lou Anderson, 626/357-5000
KEYWORD: CALIFORNIA NEW YORK JAPAN CHINA HONG KONG INDIA
INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS MANUFACTURING SOFTWARE
SOURCE: American Technologies Group, Inc.
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