American International Industries Inc. Reports First Quarter Profits.Business Editors KEMAH, Texas--(BUSINESS WIRE)--May 21, 2001 American International Industries Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :EDII EDII Entrepreneurship Development Institute of India ) reports profits for the first quarter, March 31, 2001 of $1,494,988 or $0.01 per share. Most of the profits were attributed to a sale of its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Har-Whit / Pitt's & Spitt's Inc. The company further announced the sale of its wholly owned subsidiary Marald Inc. to Unlimited Coatings Corporation, (Pink Sheets:UCCC An abbreviation for the Uniform Consumer Credit Code. ) (formerly World Wide Net Inc. "WWNT"). The consideration was paid to EDII with restricted common stock, which gave EDII an approximate 90% stake in UCCC. For more details, our filings can be viewed at www.freeedgar.com. American International Industries Inc. is a growing holding company. The company has holdings in industry, finance, real estate in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , and surrounding areas, and oil & gas. The vision of the company is to develop holdings in various industries through acquisition of existing companies, applying the financial resources and management expertise to foster the growth and profitability of the acquired businesses. The holding company serves as a financial and professional partner to the management of the subsidiaries. The role of the holding company is to improve each subsidiary's access to capital, achieve economics of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. EDII is continuing to work with management of the subsidiary companies to improve revenues, operations and profitability. The matters discussed in this release contain 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. within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate in each of our segments reflected by our subsidiaries' operations include without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technology changes, the dependence upon financing, third party suppliers and intellectual property rights, the rules of regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities and risks associated with any potential acquisitions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . |
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