American Utilicraft Corporation Shareholders Approve Forward Split.LAWRENCEVILLE, Ga. -- American Utilicraft Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AMUC AMUC Acta Mathematica Universitatis Comenianae ) -- The shareholders of American Utilicraft Corporation this week have approved a forward split of the Company's common stock. The Corporation will provide the shareholders a waiting period before implementing the forward split starting June 18, 2004 and ending Monday, June 28, 2004. In order to recognize the long-standing goodwill of its shareholders, the Corporation on May 19, 2004, asked its shareholders to approve the Board of Directors authorization of a 2 for 1 forward split of the current shares of the Corporation, the requirement of all preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. to convert to common stock within the next six months, and the increase of the Corporation's current Authorized Shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. to 200,000,000 shares. The Corporation has also been advised by its investment bankers and broker-dealers that more shares need to be issued and outstanding to increase the trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. of the Corporation's shares. It is the opinion of the Corporation that this will serve the shareholders fairly and equitably, and will allow for additional growth of the Corporation. About American Utilicraft Corporation American Utilicraft Corporation was formed in 1990, to target the significant problem of addressing the overnight express, supply chain, e-commerce, and global third party logistics entities inability to provide effective "containerized con·tain·er·ize v.tr. con·tain·er·ized, con·tain·er·iz·ing, con·tain·er·iz·es 1. To package (cargo) in large standardized containers for efficient shipping and handling. 2. " fulfillment and distribution in the short haul Short distance. Short haul implies traversing a small geographic area such as a few miles at most. Contrast with long haul. See line driver. (or feeder) route segments of air cargo. The result of the Company's research and development is a new air vehicle, the FF-1080 Freight Feeder aircraft, capable of carrying standard industry air containers on short-to-medium range/medium density routes, and an integrated air cargo information system for the freight feeder market. For more information visit the Company's website at www.utilicraft.com. 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 This press release contains "forward-looking" statements 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. Forward-looking statements in this press release involve risks and uncertainties and reflect the company's current views with respect to possible future events. Readers are cautioned that no forward-looking statement can be guaranteed and actual results or events may materially differ from those projected or anticipated. In particular, the following factors, among others, could cause actual results or events to differ materially from those described in the forward-looking statements: the company's ability to obtain and fulfill contracts for the sale of products, protect intellectual property rights and manage future growth; market acceptance of future products; product supplier delays; design and engineering certification delays or denials; and the introduction of similar products by competitors. Any forward-looking statement made in this press release is made as of the date of this press release, and the company assumes no obligation to update any such forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect the company's business. |
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