News.............
(BSNS WIRE) AmeriResource Technologies Inc. Appoints Dustan R. Shepherd
AmeriResource Technologies Inc. Appoints Dustan R. Shepherd as President
Business Editors
LENEXA, Kan.--(BUSINESS WIRE)--Sept. 8, 1998--AmeriResource
Technologies Inc. (OTC BB:ARET) chairman Delmar A. Janovec announced
Tuesday that the board of directors has appointed Dustan R. Shepherd
as president of ARET.
In conjunction with his new role, Shepherd will continue with his
current responsibilities as president of ARET's subsidiary, First
Americans Mortgage Corp. (FAMC). This decision is the second step -
following the Sept. 3 announcement concerning the stock repurchase -
in solidifying the companies' new focus of developing business among
Native American tribal entities. The board believes these recent
decisions "will be the foundation for returning the company over the
next 12 months to a profitable position while stimulating a renewed
interest and a greater value in the stock," said Janovec.
Shepherd stated: "I am excited about the opportunity to take on a
daily role with the parent company. My initial primary role will be as
the spokesman for ARET products and services. Currently, more than 60
percent of my time is spent on site, working with tribal officials,
government agencies, GSE agencies and other private vendors. At a time
when ARET needs to finalize numerous contract opportunities and obtain
new business, I do not see my schedule changing when in fact more time
on site may be warranted.
"Because of the companies' desire to broaden our lines of
communication with our current and potential shareholders, ARET has
begun to develop an Internet home page, which we project to be online
within 90 days. This new marketing tool, along with our continued
press releases to the three major agencies,should allow us solid
market exposure while stretching our promotional dollars further.
Additionally, I will be responding to all calls concerning ARET
through my office at FAMC (913-859-9505). This may seem unconventional
for a president who spends so much time out of the office, but I feel
I will be in a better position to give current and potential investors
the complete ARET picture as it unfolds.
"I also want investors to know of my past experience working for
a Small Cap and Wall Street brokerage firm. During that time, I
obtained a solid understanding of each player's role in the
establishment and the ongoing promotion of a bulletin-board stock. I
will utilize my market contacts and trading knowledge to assist ARET
in identifying and solving trading issues. Initially, I will be
contacting current market makers and exploring my past contacts to
establish new relationships in the trading arena.
"Indian Country is the last vast residential real estate market
left in America," Shepherd concluded, "and I look forward to leading
the ARET team in positioning themselves to take advantage of this
remarkable opportunity."
The release may contain forward looking statements that involve
risk and uncertainties, including without limitations, continued
acceptance of the company's products and services, increased levels of
competition, new products and technological changes. The company's
dependency on financing, third party suppliers and intellectual
property rights, and other risks detailed from time-to-time in the
company's federal filings, annual reports, offering memorandums or
prospectus.
--30--cp/mi*
CONTACT: AmeriResource Technologies Inc.
Dustan R. Shepherd
Tel. 913/859-9505
Fax 913/859-9520
or
Robert Solarchik
800/913-9767
954/346-5796
KEYWORD: KANSAS
INDUSTRY KEYWORD: BANKING BUILDING/CONSTRUCTION REAL ESTATE
MANAGEMENT CHANGES
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Brian $^) |
