BARTOW, FL -- 10/10/08 --
American Commerce Solutions, Inc. (OTCBB: AACS)
today discussed the possibility of establishing a new division of the
company through acquisition.
Chief Executive Officer and President Daniel L. Hefner today reported that
he has been in negotiation to further diversify AACS by creating a new
division of the company through acquisition. Hefner stated, "Along with our
investors, we recognize the need to broaden our revenue base to spread the
overhead burden and bring the company's consolidated financial statement
into the black. Our business plan has always emphasized growth by
acquisition. In today's economic and financial climate, consolidation of
revenue and assets will be a winning ticket. AACS does not lack assets, but
consistent revenue growth has been elusive within our current subsidiaries.
I am stating this despite the fact that AACS experienced a twenty percent
plus year over year revenue increase at fiscal year end February 29, 2008.
We need to work to ensure that revenue growth is not an anomaly, but an
expectation."
Hefner continued, "The acquisition currently being negotiated brings
revenue, improved cash flow, profitability and explosive growth potential.
I know that the question will be asked, 'How can you make acquisitions with
AACS stock trading at these levels?' The simple answer is that our current
negotiations involve payment in the form of cash/debt, stated value
preferred stock (at multiples of our current share price), employment
contracts with
earn-up provisions to pay the purchase price. By blending these payment
options, we benefit today and pay with future dollars."
According to Mr. Hefner, due diligence will be completed soon and
announcements will follow.
Affiliated websites: www.aacssymbol.com
www.chariot-trailers.com
www.americanfibergreenproducts.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release that are not historical, are
forward-looking statements that are subject to risks and uncertainties that
could cause results to differ materially from those expressed in the
forward-looking statements, including but not limited to, certain delays
and risks detailed from time to time in the company's filings with the
Securities and Exchange Commission.
Contact information:
Daniel L. Hefner
813-244-9843
