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NORFOLK, VA, Aug 30, 2010 (MARKETWIRE via COMTEX) -- Amelot Holdings, Inc.
(PINKSHEETS: AMHD) today announced an agreement with Turning Mill Consultants of
Sandwich, Massachusetts resolving a dispute over a $125,000 invoice. Amelot had
retained Turning Mill Consultants to be the Engineering and Procurement
Contractor for the planned biodiesel facility in New England. The containerized
Biodiesel processing equipment was to be manufactured by Fitzsimmons Systems,
Inc. of Syracuse, New York.
Amelot's suit against Fitzsimmons Systems, Inc., and its CEO, Lowell Todd
Fitzsimmons, alleging breach of contract in the failure to deliver the
containerized biodiesel equipment, is currently pending in the New York State
Supreme Court, although the action against Mr. Fitzsimmons has been stayed by
his filing for Chapter 7 bankruptcy protection.
"I am pleased to have been able to resolve this matter with Turning Mill
Consultants and bring it to a satisfactory conclusion. Eliminating this debt
from our balance sheet is a major event for the Company. This will make us more
attractive to lenders, investors, and others wishing to conduct business with
us," said Fred Guarnieri, President and CEO of Amelot Holdings.
The current outstanding common shares balance is 4,309,573,155 and the number of
authorized shares is 4,925,000,000. Mr. Guarnieri currently owns 736,275,000
shares of the Company's common stock. There have been no issuances of additional
shares since August 2008.
About Amelot Holdings, Inc. (PINKSHEETS: AMHD):
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded
company, is a diversified holding company that has identified Biodiesel as a
multi-billion emerging Biofuel market. Amelot plans to have a significant market
share in growing low cost feedstocks to supply the growing demand for biodiesel,
to reduce energy dependency of fossil fuels, to help reduce the U.S. dependency
on foreign oil supplies and reduce the impact of energy on our environment.
Statements in this press release that are not historical facts are
forward-looking statements within the meaning of the Securities Act of 1933, as
amended. Those statements include statements regarding the intent, belief or
current expectations of the Company and its management. Such statements reflect
management's current views, are based on certain assumptions and involve risks
and uncertainties. Actual results, events, or performance may differ materially
from the above forward-looking statements due to a number of important factors,
and will be dependent upon a variety of factors, including, but not limited to,
our ability to obtain additional financing and access funds from our existing
financing arrangements that will allow us to continue our current and future
operations and whether demand for our products and services in domestic and
international markets will continue to expand. The Company undertakes no
obligation to publicly update these forward-looking statements to reflect events
or circumstances that occur after the date hereof or to reflect any change in
the Company's expectations with regard to these forward-looking statements or
the occurrence of unanticipated events.
Contact:
Amelot Holdings, Inc.
1(866)-669-8373
support@amelotholdings.com
http://www.amelotholdings.com
Well there were 2 sides to the deal. 1=AMHD and 2=TMC.
1. From an AMHD perspective I would guess you would want to disclose the amount ESPECIALLY if it were pennies on a dollar....
2. From a TMC perspective you NOT want to disclose the amount ESPECIALLY if it were pennies on a dollar....That would establish a precedent that everyone who ows TMC money could follow.
I am willing to bet there is a non-disclosure deal to keep all parties safe....that is smart business.
Good to hear from you wally. I never went anywhere, I just didn't bother with 99% of the day to day silliness of a couple posters here.
I have much faith in our AMHD and am increasing my share count as funds allow. Although I do not have anywhere near the 700+ million shares that Fred the CEO has, I am putting my money where my mouth is with my nearly 50 million shares. I guess you could say I am a mini-Fred.
I don't know of a single CEO of a pink that has bought about 15-20% of the float in the open market.
Fred has in excess of 700million shares.
The AMHD suit has nothing to do with hatred or any other emotion. The AMHD suit against Lowell and Fitzsimmons Systems is based on a clear violation of the Universal Commercial Code by Lowell and Fitzsimmons Systems. Lowell violated the UCC by not obligating his contract with AMHD.
That sounds like it has been spun pretty hard WT. Their corporate attorney is completely gone. I tried contacting him and got nowhere. AMHD filed a complaint with the NY bar.....that is serious business.
It's right their in the suit. AMHD sued both Lowell himself AND Fitzsimmons Systems.
That is the stuff. It is Lowell Fitzsimmons, not Fitzsimmons Systems Inc.
Please explain your analysis. The company has not issued 1 single share in over 2 years.
Lowell himself filed, his company has not.
I thought it was common knowledge that much of the equipment you used was bought for a different project.....
So the processor you were building couldn't make ASTM either? That processor was $326,500.
It was a 10k share trade ($2.00 + commission). Someone is painting it down.
Fred is the CEO.
Well I hope your last line is 100% true....because that would mean that the effective float is under 2.75 billion.
I was personally told by Mike at Madison Stock Transfer that Fred has more than 600 Million shares in certificate form. He could not confirm the rest of Fred's shares in his personal account.
With that said....Fred is a respected business owner in Norfolk VA. Everything he puts in a PR is subject to scrutiny (he goes to prison if he is lying) by the SEC. Why would he make that claim without it being true?
It would have to be Fred. Fred has well over 750 million shares.
The float is about 4.3 billion. Take away Fred's shares and your left with 3.55 billion in the open market.
For Aziz to have control, he would need more than Fred....say 800 million for round numbers.
That would mean that the effective float would be less than 2.75 billion shares.....if that were the case, the stock price would move a lot easier to multiple pennies......imo.
Fred is in control, and in my opinion, Aziz probably has nearly 0 shares. That is good news for a few reasons:
1) Fred is clearly in control. He has clearly turned the company in a positive direction.
2) Aziz has no shares to sell, and if he did, could not due to the dribble rule
3) Fred cannot sell his massive number of shares due to the dribble rule.
Fred is still the President and CEO and continues to buy shares.
The TA confirmed to me, that Fred has well over 600 million shares in certificate form. Call the TA and ask him "how many shares does Fred have in certificate form".
Someone painted this LOW at the close to make it look bad....
Price Exchange Bought/Sold Tran/Type Legend
15:57:54 5000 0.0002 - OTCEQ_NBB
14:46:06 60000 0.0003 + OTCEQ_NBB
14:45:48 4000000 0.0003 + OTCEQ_NBB
14:45:30 940000 0.0003 + OTCEQ_NBB
14:45:27 1000000 0.0003 + OTCEQ_NBB
14:45:27 1000000 0.0003 + OTCEQ_NBB
12:49:33 5000000 0.0002 + OTCEQ_NBB
12:49:33 9000000 0.0002 + OTCEQ_NBB
12:17:21 2000 0.0002 + OTCEQ_NBB
09:30:30 2000000 0.0002 OTCEQ_NBB
And save your $ for the payout after the verdict.
That is quite a rant Lowell. How could they be months behind on progress payments and simultaneously only owe you $25k (of $337.5k) to complete the machine?
In all of the posts ever made on this board.....that is the very best one.
Thank you for the extensive technical argument on the merits of the fuel. Forgive me if I don't listen.
AMHD is producing Bioscum ... not a saleable product on a retail or wholesale level.
jmo
The point is they are in production.
After the sludge is cleaned out, any diesel can run B100. The filter, sludge, etc. have nothing to do with the testing methods used to evaluate the fuel. (ASTM-American Society for Testing & Materials)
Oh come on EarnestDD, it is a widely known fact that biodiesel is more solvent than mineral diesel. This is why users cannot switch directly to 100% bio no matter who makes it. The sludge left behind from mineral diesel clogs the filters.
That is why you see B5 or B20. In fact my home heating oil is B5. Next year we get B20. You have to work your way into it or you will clog filters (due to the crap left behind by mineral diesel).
Clogging filters will not cause an engine to fail. Clogging a filter causes the fuel to stop flowing. Are you trying to tell me that every time a big diesel engine runs out of fuel, the engine could fail......YA RIGHT.
I think you have miss evaluated the Barbados market. When I was in the carribean, there were thousands of tiny pickups and small Toyota vans that are not available in the states (all were diesel). I did not see a single tractor trailer. The trucks were all basic models. The only option they had was air conditioning. These were $15-$20k DIESEL vehicles. It would be nice to have those here in the US.
How can you say the engines are that expensive? Sure if it was a ship or something.....but the engine could be in a Toyota....where the whole vehicle is $15-20k.
AMHD is in Trinidad as well. Thanks for pointing that out EarnestDD. This is looking better by the nanosecond.
Sort of. He can only sell 43 million shares per quarter per the dribble rule. It will take him the rest of his life to get rid of the shares.
The TA specifically confirmed an excess of 600 million shares in certificate form. What the TA can't confirm is what is in Fred's personal account.....but the volume numbers do support his claim.
Since when is a 200% to 400% gain a bad thing.
This stock is up 400% since Fred took over. That is somewhere in everyones book.
Thank you wally. I appreciate the compliment and encouragement. I try to run a fair but tight ship here. I am glad that my efforts are appreciated.
How many shares does Aziz have? You seem to know a lot about the share structure. overachiever, you have no idea how many shares Aziz has. Prove me wrong.
AMHDs current capacity for the proof of concept was quite low. PRs have stated that they are looking into large scale European technology.
BNOC provides 30% of Barbados total fuel.
Here is BNOCs website: http://www.bnocl.com/
Nice DD goodjuan. AMHD is on its way.