Aviaton Holdings Group Inc. Announces Temporary Listing on the OTC Pink Sheets; Plans Move to Listing On the American Stock Exchange.MIAMI--(BUSINESS WIRE)--Aug. 2, 1999-- Aviation Holdings Group, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :AHGI) (the "Company") announced today that its common stock will be traded on the OTC Pink Sheets in a move it expects to be temporary. The Company had originally filed a Registration Statements on From SB-2 on March 26, 1999 in order to become a fully reporting issuer, and also in order to raise equity in a secondary offering to be underwritten by Silver Capital Inc., an NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). brokerage firm. The Company responded to comments received from a SEC review and resubmitted its amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. Registration Statement on July July: see month. 14, 1999. Although the Registration Statement has not yet been declared effective, Joseph Nelson, the Company's President stated, "We have been informed by the Company's securities counsel that they hope to be able to have our Registration Statement declared effective in the very near term. At the time that the Registration Statement is declared effective, the Company's securities will be immediately eligible for relisting on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . In addition, the Company has already filed an application for listing on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and we hope to be able to list on the American Stock Exchange in conjunction with our secondary equity offering to be commenced as soon as possible after the Registration Statement has been declared effective. Our business continues to grow and be viable and this temporary listing should not be seen as any negative indication of the Company's business or its financial status." This release contains certain 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. regarding potential future events and developments affecting the business of Aviation Holdings Group, Inc. These forward-looking statements involve known and unknown risks, uncertainties or other factors not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the future results, performance, achievements or other expectations expressed or implied by these forward-looking statements. |
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