Some news today:
Friday August 7, 8:46 am Eastern Time
Company Press Release
All American Food Group Denies Rumors, Foresees Continued Growth
SOUTH PLAINFIELD, N.J.--(BUSINESS WIRE)--August 7, 1998--Andrew Thorburn, All American Food Group's (NASDAQ Bulletin Board: AAFG - news)
founder and CEO, reacting today to unfounded rumors of a reverse stock split or a contemplated filing for bankruptcy, announced that AAFG showed continued fiscal
vitality through the third quarter, ending July 31.
''Our previous quarterly report showed tremendous improvement. We have cut our losses by about 60 percent,and this current quarter looks even better,'' says
Thorburn.
According to John Chitvanni, an AAFG board member, ''The Board of Directors of AAFG is definitely not contemplating a reverse stock split, nor is it considering filing
for bankruptcy. Quite the reverse. We see healthy signs of growth and fully expect this trend to continue.''
As far as the stock price today, Mr. Thorburn feels the company is in a turnaround situation and is curently undervalued.
This press release contains forward-looking statements. The Company's actual performance might differ materially from that projected in such forward-looking
statements for numerous reasons, including those contained in the Company's Annual Report on Form 10-KSB and other periodic reports filed with the Securities and
Exchange Commission.
Contact:
All American Food Group, S. Plainfield, NJ
Andrew Thorburn, 800/776-5940
or
Lisker Gedney Stover, Inc., Yonkers, NY
Tom Lisker, 914/376-6767 |
