Dec. 17th 2010 PR:
AmeriWorks/ ADW Merge
Dec 17, 2010
OTC Disclosure & News Service
Sciota, PA -
AmeriWorks Financial Services, Inc. (AWKS) Acquires
Operations of American DebtWorks, Inc.
For Immediate Release
December 16, 2010, Sciota Pennsylvania – AmeriWorks Financial Services, Inc., formerly U.S. Shanghai Chemical Corporation, has completed an acquisition of the operations of a privately held company called American DebtWorks, Inc. in a reverse merger. The acquisition also included all patents, business programs, proprietary software and other intellectual property. The surviving company, AmeriWorks Financial Services, Inc. (“AmeriWorks”), will be trading in the Pink Sheets with the symbol AWKS.
AmeriWorks has five business platforms: (1) basic debt collections; (2) a patent pending Point of Sale, Identification System that meets and exceeds the requirements of the “Red Flag Rules” of The Fair and Accurate Credit Transactions Act of 2003 which required financial institutions and businesses to establish identity theft programs. Banks and other financial institutions have had to comply since late 2008. But other businesses, some of which had no idea that the law applied to them, were given until this June, 2010; (3) an alternative extended payment solution for professional and other businesses called SoftBill (www.softbill.net) and (www.ezfinanceusa.com); (4) POS University, an on-line cashier training site that provides instruction in front end procedures, counterfeit money, counterfeit coupons, bad checks, general Point of Sale procedures with a certification on-line (www.pos-university.com) and, (5) Casino Acceptance Corporation which is developing a patent pending kiosk to be placed in casinos, sports arenas, airports and theme parks to collect donations for charity with 80% to the charity and 20% to AWKS.
Shareholders of American DebtWorks, Inc. will receive a share for share exchange of their American DebtWorks shares into shares of the new AmeriWorks Financial Services, Inc. The total number of shares of Common Stock after the reverse merger will be 14,248,791 shares. There are 7,206,470 free trading shares and 7,042,321 restricted shares. Restricted shares will be subject to the filing of Form 10 with the Securities & Exchange Commission. The Company plans to file a Form 10 to become a fully reporting company within the first quarter of 2011. A complete Business Plan for AmeriWorks Financial Services, Inc. can be obtained from the company by requesting a copy by U.S. mail at P.O. Box 187, Sciota, PA 18354 and via email at smallstock@verizon.net.
Company Contacts
Louis Perosi, Jr. – President
1-888-282-2802
Email Address: smallstock@verizon.net
Facsimile: 570-801-7801
Jeffrey Augen – Executive Vice President
1-888-282-2802
Email Address: jeffaugen@aol.com
Facsimile: 570-801-7801
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
