Tuesday September 8, 10:26 am Eastern Time
Company Press Release
AmeriResource Technologies Inc. Appoints Dustan R.
Shepherd as President
LENEXA, Kan.--(BUSINESS WIRE)--Sept. 8, 1998--AmeriResource Technologies Inc. (OTC BB:ARET - news) 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.
Contact:
AmeriResource Technologies Inc.
Dustan R. Shepherd
Tel. 913/859-9505
Fax 913/859-9520
or
Robert Solarchik
800/913-9767
954/346-5796 |
