AimRite Holdings Receives $1 Million in Phase II Funding.SAN DIEGO--(BUSINESS WIRE)--June 30, 1999-- AimRite Holdings Corporation (Nasdaq/BB:AIMH AIMH Amelia Island Museum of History (Florida, USA) )is pleased to announce that it has received $1,000,000 (One Million) in project investment capital. These additional funds will be allocated towards the following 1) to support Phase II manufacturing of COAST(tm) systems, 2) provide additional patent applications on technological improvements contributing worldwide protection for 20 years, and 3) the installation of Phase II production COAST systems on selected Original Equipment Manufacturers (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 ) vehicles. The additional funding will allow the company to expand the range of applications for COAST internationally from the superhighways of industrialized in·dus·tri·al·ize v. in·dus·tri·al·ized, in·dus·tri·al·iz·ing, in·dus·tri·al·iz·es v.tr. 1. To develop industry in (a country or society, for example). 2. nations to the dirt roads of underdeveloped countries including the airports of the 21st Century. Further funding has been identified and will be secured to support the rapid growth that AimRite will experience in the manufacturing and distribution of COAST. 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, light truck, heavy duty truck & bus, RV and now agricultural applications and will be the OEM's choice for suspension control well into the next millennium. 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. |
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