AERT Anticipates Bond Extension.SPRINGDALE, Ark.--(BUSINESS WIRE)--Aug. 20, 1999-- Advanced Environmental Recycling Technologies Inc. (Nasdaq:AERTA AERTA Army Environmental User Requirements and Technology Assessments (US Army) ) ("AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team ") announced today that the Company has filed an extension allocation request A message used to provide an estimate of the total air effort, to identify any excess and joint force general support aircraft sorties, and to identify unfilled air requirements. This message is used only for preplanned missions and is transmitted on a daily basis, normally 24 hours prior with the Arkansas Development Finance Authority (ADFA ADFA Australian Defence Force Academy ADFA Associação dos Deficientes das Forças Armadas (Portugal) ADFA Arkansas Development Finance Authority (Arkansas) ADFA Australian Dried Fruits Association ) for reservation of its pending $16.5 million tax exempt financing through the City of Springdale from the State of Arkansas. The extension period is 45 days and was filed after consultation with and at the request of officials of the ADFA. According to AERT Chairman, Joe G. Brooks, "We are all anticipating the extension and the Company is working to successfully close its pending bond financing package. The extension was filed after consultation with all parties involved in order to finalize the transaction for the benefit of AERT and its shareholders. We anticipate that this documentation should be completed within the next 30 days. Additional information will be forthcoming." Certain statements made in this press release are forward-looking statements within the meaning of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995, including those concerning the completion of the pending bond financing. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties are more fully described in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for fiscal year 1998 and Forms 10-Q for the periods ended March 31, 1999, and June 30, 1999. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion