AimRite Concludes Agreement for One Million Dollar Phased Investment.Business Editors SAN DIEGO--(BUSINESS WIRE)--Sept. 20, 2000 AimRite Holdings Corporation (OTC-BB:AIMH AIMH Amelia Island Museum of History (Florida, USA) ) has announced that it has concluded an agreement which will provide the company with a source of working capital of up to one million dollars ($1,000,000.00). The funds will be available as needed as needed prn. See prn order. to expand the scope of the company's development of the Original Equipment Manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) market and post-production automotive applications. Mary Kay Mary Kay is a brand of skin care and color cosmetics sold by Mary Kay Inc. Mary Kay World Headquarters is located in the Dallas suburb of Addison, Texas. Mary Kay Ash (d. November 22, 2001) founded Mary Kay Inc. on Friday, September 13, 1963. Coleman, Acting President of AimRite observed: "It is rare, in the company's opinion, that such investments are made in trading companies that have not completed the Securities Exchange Commission relisting process to return them to full Over the Counter (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ) or higher trading status. AimRite underwent a thorough 'due diligence' examination over the last several months by the investing entity's representatives before the agreement was concluded. We believe that the successful placement of the funding into AimRite reflects a high degree of confidence in the current management of the company, the team spirit of the engineers and marketing staff, the operational plan developed and implemented by the board over the last several months and our core stockholders. It additionally recognizes that the SEC's relisting process is one that inevitably involves delays and frustrations but does not impact the company's focus on its primary goals of bringing the COAST system to major manufacturers on a mass-production basis." COAST (Computer Optimized Adaptive Suspension Technology) is a revolutionary suspension control system that uses Variable Constant Force(TM) to achieve unparalleled ride luxury, safety and performance for virtually all automotive, truck, bus and RV applications. COAST accomplishes all this by eliminating conventional shocks and anti-sway bars and replaces them with simple, but patented and powerful hydraulic suspension control units. The units incorporate extremely powerful and sophisticated patented software to make precision adjustments at each wheel 400 times per second. The results is an electronically controlled suspension system that can optimally control up to nine dynamic areas of suspension performance: including roll, pitch, body motions, wheel motions and bottoming/topping out. AimRite believes that COAST is the most powerful and flexible suspension control system ever developed. And with little or no direct competition, COAST will be sought after well into this century. AIMRITE HAS A WEBSITE THAT CAN BE VISITED AT WWW WWW or W3: see World Wide Web. (World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site. .AIMRITE.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. . This release is intended as a forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to (i) The ability to produce the COAST Suspension Technology in the future, (ii) Unexpected changes in the suspension market, (iii) The success of the Company's expansion and marketing strategies (iv) Competition with conventional suspension systems (v) The ability of the Company to motivate and retain the services of its key personnel and hire additional qualified personnel to meet evolving staffing needs and (vi) unexpected challenges to the patents. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion