America's Senior Obtains $316,500 Judgment Against Texas Investment Banker.Business Editors/Legal Writers JUPITER, Fla.--(BUSINESS WIRE)--June 16, 2003 America's Senior (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 been awarded a judgment of $316,500 against AIM Securities, Inc.; AIM Financial Advisors, Inc.; and Ronald Ardt, a Texas based Investment Banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. with relationships with the aforementioned companies. America's Senior sued the defendants for civil theft and conversion arising out of their failure to perform investment-banking services under agreements entered into during 2001. In a judgment granted June 11th, 2003 in the 17th Judicial Circuit Court - Broward County, Florida Broward County is a county located in the U.S. state of Florida. As of 2000, the population is 1,623,018; this makes it the second most populated county in the state. According to 2006 U.S. Census estimates, its population had grown to 1,787,636 [1]. ; Circuit Judge Robert Andrews awarded AMSE $316,500, including treble damages A recovery of three times the amount of actual financial losses suffered which is provided by statute for certain kinds of cases. The statute authorizing treble damages directs the judge to multiply by three the amount of monetary damages awarded by the jury in those cases , attorney's fees, and interest. Gary Barcus, AMSE's General Counsel, said: "This legal victory amplifies last week's announcement regarding AMSE's recent $1,000,000 judgment against Finantra Capital. AMSE Management is committed to protecting shareholder value. Management strives to insure that the Company's assets and therefore its shareholders are protected from any kind of predatory conduct. There can be no assurances given that AMSE will be able to collect this judgment from Ronald Ardt or his affiliates. However, AMSE shall seek to examine Ardt's financial and corporate records to determine a suitable method of collection." For more information regarding this judgment, contact Attorney Barcus at 954/438-4222. America's Senior is a regional Mortgage Banking firm that operates retail and wholesale business platforms. AMSE has recently reported its third consecutive profitable quarter and has announced several major business alliances regarding its reverse mortgage platform. AMSE's filings are fully up-to-date, and can be viewed at http://www.americassenior.com. 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 that reflect the Company's current views as to the positive outcome of this specific litigation. These statements 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 an inability to collect on the judgment, 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 Investor relations The process by which the corporation communicates with its investors. , email the Company at info@americassenior.com. The Company's web addresses are http://www.americassenior.com and http://www.jupiter-mortgage.com . |
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