If you look at what the company's goals where last summer; they have done what they said they were going to do plus a whole lot more. We have people in high places in this company that are making things happen.
Pay special attention to the highlights in red. This is why I'm still here! There following through with what they say they are going to do.
Action Products International Updates Shareholders on Progress of Restructuring
NEW YORK, NY--(Marketwire - Jul 21, 2011) - Action Products International, Inc. (PINKSHEETS: APII) today updated its shareholders regarding its restructuring activities.
The company has completed the following major activities toward its overall restructure.
•Negotiated Foreign Debt transfer and payment. This eliminates any future legal issues;
•Have selected and is engaging legal firm to represent company on the outstanding lawsuits, which the company maintains are frivolous in nature;
•In process of completing the appointment of two well-respected outside directors to the board to oversee the future plans and growth of the company;
• Finalizing investment banking relationships for capital restructure with funding commitments;
•Completed historical financial statements and related footnotes are being reviewed with updated financial information due to be posted soon on the OTC Markets; and
•Completing final negotiations with revenue-producing merger candidates.
Gary Polistena, Chairman and CEO, stated "We have made it through a great amount of the restructure. We appreciate the loyalty of our shareholders during this period of time. We expect to complete the total restructure during the fourth quarter and anticipate beginning our acquisition process shortly. The company intends to continue to provide updates to its shareholder as progress is made in this effort."
Action Products International, Inc. currently is in various stages of conversations with potential acquisitions and intends to become a holding company for small-to-mid-sized businesses that bring unique products and/or services to the marketplace with the potential to rapidly grow in their specific areas.
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