News release today! But what does it mean? <ggg>
>>(BSNS WIRE) American Millennium Corporation Notes Adjustment in Issued a
American Millennium Corporation Notes Adjustment in Issued and Outstanding
Stock
Business Editors
MOUNT DORA, Fla.--(BUSINESS WIRE)--Jan. 7, 1999--American
Millennium Corporation, Inc. (NASDAQ OTC:AMCI) announced today that
the amount of its issued and outstanding stock had been adjusted from
the totals shown on the company's form 10-KSB filed with the
Securities and Exchange Commission on November 13, 1998.
At that time, the company showed a total of 23,728,422 shares of
its common stock issued and outstanding.
In a November 24, 1998 form 8-K filing with the Securities and
Exchange Commission, the company reported a sequence of transactions
including the merger of AMC (formerly Energy Optics, Inc.) with its
subsidiary, American Millennium Corporation, along with two agreements
to rescind contracts as well as a contract termination. Those
transactions resulted in the company canceling some 10,100,000 shares
of common stock. Additionally, 100,000 shares of common stock have
subsequently been canceled under the terms of the contract termination
referenced above.
AMC's President and Chief Operations Officer James C. Statham
stated that, "As recently as December 21, 1998 at least one of the
major stock quote services on the Internet was still listing AMC as
having 23.7 million shares issued and outstanding with 13.7 million
shares in the public float. With the stock cancellations described in
AMC's most recent filing with the SEC, the amount of AMC stock issued
and outstanding is actually about 13.5 million shares with just over
3.5 million shares in the public float, according to our records."
Statham went on to note that "The Internet is the biggest source
of information about AMC for a lot of our shareholders. We just want
to make certain that they understand that the on-line stock quote
services can sometimes lag weeks behind in updating information on
company profiles, even though more current information has already
been made public in SEC filings."
AMC is a provider of hardware and software solutions to the
wireless and wireline telecommunications industries. AMC has
experience in a variety of communications platforms including
satellite, CDPD (cellular digital packet data), cellular, various
other radio frequency (RF) protocols, and wireline.
The business of AMC is to bring solution oriented combinations of
hardware and software to the market to facilitate timely, accurate,
and cost effective one-way and two-way delivery of information to the
rapidly expanding wireless communications industry.
AMC is a value-added reseller for Dulles, Virginia based ORBCOMM
USA, L.P., a provider of low-earth orbit (LEO) satellite-based data
and message communication services. To date, ORBCOMM has launched 28
LEO satellites. AMC's current value-added solutions include two-way
communication for remote oil and gas sites, as well as monitoring up
to 22 different functions aboard rail cars, intermodal containers and
oil and gas platforms. The data is transmitted and received via the
ORBCOMM satellites and can then be posted to the Internet for use by
end users subscribing to the service.
ORBCOMM provides two-way monitoring, tracking and messaging
services through the world's first low-Earth orbit satellite-based
data communications system. ORBCOMM applications include monitoring of
fixed assets such as electric utility meters, oil and gas storage
tanks, wells and pipelines and environmental projects; tracking of
mobile assets such as commercial vehicles, trailers, railcars, heavy
equipment, fishing vessels, barges and government assets; and
messaging services for consumers and commercial and government
entities.
ORBCOMM is a partnership owned by Orbital Sciences Corporation
(NYSE:ORB) and Teleglobe Inc. of Canada (NYSE, TSE, and ME:TGO).
Orbital is a space technology company that designs, manufactures and
markets a broad range of space products and satellite-based services.
Teleglobe Inc. is recognized as a world leader in global
telecommunications.
AMC recently relocated its corporate offices from Tavares,
Florida to the Central Florida community of Mount Dora, which is near
Orlando.
--30--jd/mi*
CONTACT: American Millennium Corporation, Inc., Mount Dora
James C. Statham, 352/735-0116, fax: 352/735-6318<<
I want to print this out and read it offline...I am cross-eyed from being on the 'puter too much. First glance, I see two items: There is half as much stock out there as previously thought, and two, the company moved to new digs in Mount Dora, Florida.
Looking for more analysis.
Cheers!
Rick |
