American Entertainment & Animation Corp. Responds to Filing of Amended 8K.Business Editors THORNHILL, Ontario--(BUSINESS WIRE)--Feb. 25, 2003 American Entertainment & Animation Corporation (Nasdaq OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets:AEAN AEAN Airman, Aviation Electrician's Mate Striker (Naval Rating) ) states the Amended 8K filed on February 20, 2003 and corresponding press release filed today were both unauthorized and incorrect and were filed without authority of the Board of Directors of the Corporation. The 8K filed by the Company on September 9, 2002 reporting on the rescission The abrogation of a contract, effective from its inception, thereby restoring the parties to the positions they would have occupied if no contract had ever been formed. By Agreement of the acquisition of Cyper Entertainment Inc. and corresponding change in the Board of Directors was properly filed, as the transaction in question was validly rescinded in accordance with due corporate and legal process. The Corporation is in the process of bringing legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. for the requisite determinations in this matter and is confident that it will be successful in this regard. 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. Statement under 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 statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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