AMSE Tracking Short Selling on the OTCBB; Considering ``Certificate Only'' Trading.Business Editors JUPITER, Fla.--(BUSINESS WIRE)--July 2, 2003 America's Senior Financial Services (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMSE AMSE American Museum of Science & Energy (Tennessee) AMSE Aircraft Maintenance Support Equipment (Canadian Forces) AMSE Advanced Mass Sender Enterprise ) has undertaken to identify those responsible for short selling Short Selling The selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short sellers assume that they will be able to buy the stock at a lower amount than the price at which they sold short. of AMSE shares currently occurring on the OTCBB Exchange. The Company is considering moving to "certificate only" trading to sidestep the abuses that exist via short selling of securities held in "street name" (DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). ). Nelson Locke, AMSE CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and the company's largest shareholder, stated: "Recently we confirmed specific short selling activity. The party involved was significantly short. Their continued shorting placed unnecessary downward pressure on the price of our shares. We identified their Broker and discussed the situation. Because our shares are DTC eligible, the Broker allowed the short selling to continue even after being advised that the seller could not cover his short position. We believe we could reduce this type of harmful conduct by requiring that shareholders have physical custody of actual certificates before selling. For the vast majority of AMSE shareholders, this would not be an issue. For those who have engaged in this type of conduct in the past, this would make it much more difficult for them to short our stock." Mr. Locke points readers to http://www.nakedshortselling.com and advises AMSE shareholders that the Company has joined the National Association against Naked Short Selling Naked short selling, or naked shorting refers to the practice of selling a stock short without first borrowing the shares or making an "affirmative determination" that the shares can be borrowed. . This should leverage AMSE's resources as it attempts to reduce short selling and market maker manipulation of its shares on the OTCBB. Mr. Locke also announced the "Short Busters Club". He is encouraging shareholders to take their shares out of "street name" (DTC). To request a physical certificate, contact Florida Atlantic Stock Transfer. FAST maybe reached at 954/726-4954. AMSE previously announced net profits for the 3rd quarter 2002, the 4th quarter 2002, and the 1st quarter 2003. The Company expects to report significant sales increases and bottom line improvement for the 2nd quarter 2003. Please refer to previous press releases for the specifics. CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. from civil 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. for forward-looking statements. This news release contains forward-looking statements regarding short selling and steps the Company is taking to discourage this practice. Since these statements are based on results yet to be realized, they are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in this news release. Factors that might cause such a difference include the possibility of lower revenues for the balance of the fiscal quarter, greater than anticipated operating costs, issuance of additional shares, the outcome of litigation, the decline of availability of mortgages at reasonable rates, and a downturn in general economic conditions. These forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. To contact Investor Relations, email the Company at info@americassenior.com. The Company's web addresses are http://www.americassenior.com , http://www.synergy-mortgage.com and http://www.jupiter-mortgage.com. |
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