Aero Marine Engine Announces Financing Commitment of $2.5 Million Cash and Commitment for Products and Services of $1.5 Million.Business Editors TORRANCE, Calif.--(BUSINESS WIRE)--Aug. 28, 2003 Aero Marine Engine, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARMR ARMR Army Readiness and Mobilization Region ) a developmental stage company which recently acquired the rights to the revolutionary Dyna-Cam engine, a proprietary internal combustion engine Internal combustion engine A prime mover, the fuel for which is burned within the engine, as contrasted to a steam engine, for example, in which fuel is burned in a separate furnace. , announced today that its principal shareholders have committed to contribute $2.5 million in cash over the next twelve months to fund the Company's operations. The principal shareholders will not receive any additional securities for the $2.5 million cash contribution and this will not be dilutive to shareholders. In addition, the Company announced that Perma-Tune Electronics, Inc. (OTCBB: PTUN PTUN Pengadilan Tata Usaha Negara (National Court in Jakarta) ), has agreed to extend the Company a $1.5 million credit line to provide products and services to the Company. Over the next four to six months, Perma-Tune will conduct a complete and comprehensive engineering review of the Company's Dyna-Cam engine, as previously announced on the Company's press release dated August 25, 2003. In this review, Perma-Tune will orchestrate or·ches·trate tr.v. or·ches·trat·ed, or·ches·trat·ing, or·ches·trates 1. To compose or arrange (music) for performance by an orchestra. 2. , using state-of-the-art technology, detailed composite testing and metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with which will be used to determine and propose altering various components of the engine to enhance efficiencies. Perma-Tune will conduct thorough failure tests on both the old engine and the new one. Also, prior to going into full production, Perma-Tune will perform an in-depth manufacturing overview of the Dyna-Cam engine emphasizing optimizing performance and minimizing costs. The Company and Perma-Tune share commonality of ownership and are controlled by the same principal shareholders. The infusion of capital as well as the commitment for products and services, insures that the Company has sufficient financing to begin the final engineering analysis and pre-production testing and to move forward into production. The Company also is exploring raising additional capital either through debt or equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . The Company will provide information regarding the details above within the next two weeks. About Aero Marine Engine, Inc. The Dyna-Cam engine is an internal combustion engine where the pistons drive a cam to generate power to the main shaft. The main shaft is in a parallel direction to piston movement, without connecting rods or crankshaft. The engine has approximately 50% fewer moving parts Fewer Moving Parts is David Bazan's debut EP, released in limited quantities on June 13 2006. It was re-released on 22 May 2007 on Barsuk Records. The EP can be considered a stopgap release to tide fans over until his 2007 full-length solo debut[1]. than a conventional internal combustion engine, has a greater power to weight ratio, produces high torque at low rpm, operates with less vibration, and is lighter than the competition. This press release contains forward-looking statements within the meaning of 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. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "will," "anticipated," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the 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. created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . Aero Marine Engine, Inc. takes no obligation to update or correct forward-looking statements and also takes no obligation to update or correct information prepared by third parties which is not paid for by the Company. |
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