American Ammunition Announces First Bank Debt Reduction for 2003.Business Editors MIAMI--(BUSINESS WIRE)--March 3, 2003 American Ammunition This article is largely based on the article in the out-of-copyright 11th edition of the Encyclopdia Britannica, which was produced in 1911. It should be brought up to date to reflect subsequent history or scholarship (including the references, if any). , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AAMI AAMI Association for the Advancement of Medical Instrumentation AAMI Age Associated Memory Impairment AAMI American Ammunition, Inc (stock symbol) AAMI Australian Associated Motor Insurers Limited AAMI African-American Male Initiative ) announced today it has reduced its bank indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. an additional $100,000.00 in 2003. This reduction continues the AAMI program to eliminate its existing bank indebtedness in 2003 while maintaining adequate raw material supplies and inventory. AAMI also announced that all payables Payables Related: Accounts payable with the Company are current within 45-60 days. Andres Fernandez, President and 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. of AAMI stated: "We continue to remain excited about our ability to reduce outstanding debt. Our ability to be price competitive with lower labor costs and other overhead reductions allows us to become a stronger player in the market. Continued debt reduction and elimination of existing bank indebtedness in 2003 will also prove to be a significant factor." About American Ammunition, Inc. -- AAMI is an autonomous manufacturer of ammunition, with the technology and equipment to take advantage of the growing market. It has an excellent reputation within the industry. The ammunition industry has experienced a 28% average increase in revenues annually between 1991 through 1998, and the trend is expected to continue through the year 2005 and beyond. For further product information, please call 1-305-835-7400 or visit the website at: http://www.a-merc.com. For Investor Relations Investor relations The process by which the corporation communicates with its investors. information, please call: 1-305-446-4800 or e-mail: CISintr@netscape.net. This release contains statements that constitute forward-looking statements 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. . These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. |
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