Waveriders this is the time now to be patient and pick your bid.
This news ahead of the 10k tells me we are finally going to get this company out there to real investors.
It has been to long and the price action yesterday shows it will move fast now on news.
Have a great day.
General Automotive Announces the Engagement of Aegis Capital Corp.
ORLANDO, Fla., Mar 8, 2012 (GlobeNewswire via COMTEX) -- General Automotive Company (OTCBB:GNAU), a North American provider of parts, accessories and advanced technology for the automotive industry is pleased to announce that it has engaged Aegis Capital Corp, a registered broker/dealer, as a placement agent and financial advisor to the Company. The engagement agreement states that Aegis Capital Corp. will provide advisory services and placement of up to $1,000,000 in Debt and/or Equity financing.
General Automotive's CEO and President, Dan Valladao, commented, "We are extremely excited to be working with Aegis Capital towards financing some of the new growth initiatives for the company. We believe with Aegis as our Capital partner we can continue to expand our distribution and manufacturing opportunities worldwide."
About General Automotive Company
General Automotive Company provides original equipment and aftermarket automotive parts and automotive technology in the United States and internationally. It focuses on automotive parts sales and distribution through its subsidiary, OE Source L.C. General Automotive is also a partnered in GreenCell Inc., a joint venture with SenCer Inc., a New York based ceramic technology company. GreenCell, Inc., has created "Ultra-Temp," a proprietary technology and a potential game changer for the manufacturing of multiple automotive products including oxygen sensors, brakes and SOFC fuel cells for powering automobiles. General Automotive Company ("GAC") is also focused on expanding its operating growth platform through multiple and ongoing acquisitions of successful automotive parts companies. General Automotive Company is based in Orlando, Florida.
About Aegis
Aegis Capital has been in business for the past 27 years and maintains a conflict free service platform catering to the needs of private clients, institutions and corporations. Aegis Capital Corporation was founded in 1984 by the current CEO and Chairman. Aegis's origins were based on servicing the specific needs of an extremely affluent customer base. Today, we have become a premiere full-service investment banking firm with eleven locations and employees stretching from Florida to Rochester, NY. We have clients in all 50 states and overseas. Aegis has been able to bring quality service through its clearing relationships of Penson and JP Morgan.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company's ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward-looking statements. A more extensive listing of risks and factors that may affect the Company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: General Automotive Company
By Staff
CONTACT: CONTACT: Paula Bausman
Investor Relations
407-363-5633
pbausman@generalautomotive.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
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INDUSTRY KEYWORD: Business Services
SUBJECT CODE: AUTOMOTIVE
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