Appalachian Bancshares Inc. (fka APAB)

[RonnieD]

See today's 8-K.. I believe this may be setting up for a Reverse Merger under Hensley's direction. With the Chapter 7 and FDIC sale of assets in March, seeing this new appiontment for the capital stock here and without any overhang remaining, this is a clean shell. Very suggestive how Hensley already has skin in the game; see: (July 23,2010)

(c) Appointment of Principal Officer

On March 30, 2010, the APAB Board of Directors (the “Board”) appointed Joseph C. Hensley, age 52, as APAB’s President. This appointment was effective as of March 30, 2010, and Mr. Hensley is not in any way compensated for his service as President. Mr. Hensley also currently serves as a director of APAB and its wholly owned subsidiary Appalachian Community Bank, F.S.B. (the “Thrift”) and as Chairman of the Board’s Audit Committee.

Mr. Hensley has years of experience in the real estate industry. He has been vice president of and a principal in A.S. Dover Construction, Inc., A.S. Dover Development, Inc., and A.S. Dover Properties, Inc., since 2002. He is also a Manager of MountainCraft Homes, LLC; vice president of Dover Development, LLC; vice president of Legacy Mountain Properties, LLC; vice president of Clear Creek Properties, LLC; vice president of A.S. Dover Investments, LLC; and vice president of High Point Realty, Inc.

As previously disclosed in the Schedule 13D filed by APAB on November 9, 2009, APAB and Mr. Hensley executed an agreement on October 28, 2009, to issue 857,142 shares of APAB common stock, $.01 par value per share, in exchange for $428,571 aggregate principal amount of Appalachian Community Bank Fixed Rate Subordinated Notes, due September 30, 2015.

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