Amelot Holdings, Inc. (PINKSHEETS: AMHD) today announced that its wholly owned subsidiary, Amelot Oil Inc., has retained the legal services of C.A. Serrano & Co, Attorneys-at-Law, to begin the formation of a new subsidiary to be located in Trinidad and Tobago.
In order to set up a fully automated large scale biodiesel production facility in Trinidad and Tobago an upcoming trip to Europe to meet with a major equipment manufacturer is scheduled for early February 2010. The formation of a subsidiary at this time will facilitate in establishing future business relationships there.
"Our aim is to launch our activities in Trinidad and Tobago by using European technology in the production of biodiesel, for which there is increasing demand among the consumers in the Caribbean. We will be releasing further updates as events unfold. These are exciting times for all of us at Amelot and we again thank you for your continued support and patience," said Fred Guarnieri, President and CEO.
The current Outstanding Common Shares balance is 4,309,573,155 and the Authorized is 4,925,000,000. Mr. Guarnieri currently owns 693,975,000 shares of the Company's common stock. He has purchased 28,375,000 since December 31, 2009 in the open market through his on line brokerage accounts. He has neither sold, pledged, assigned or transferred any of his purchased shares of the Company since becoming President in June 2009. There have been no issuances of additional shares since August 2008.
