American Commerce Solutions, Inc. to Eliminate Balance Sheet Debt Wednesday June 22, 9:15 am ET
BARTOW, Fla., June 22 /PRNewswire-FirstCall/ -- American Commerce Solutions, Inc. (OTC Bulletin Board: AACS - News) today announced an agreement that will enhance the corporate balance sheet by eliminating as much as $900,000 of debt. ADVERTISEMENT
Daniel L. Hefner, President and Chief Executive Officer stated, "Our Board has never deviated from the stated business strategy of managing to the balance sheet. Progress can be measured in numerous ways, but one of the most significant to the shareholder is a strong balance sheet. In an aggressive move, the Board of Directors of AACS has negotiated to convert up to $900,000 of debt to equity between the first and second quarters. We are excited to be able to announce this step forward and expect the move to be well received by both shareholders and the investing public."
American Commerce Solutions, Inc. is a holding company for wholly owned subsidiaries International Machine and Welding, Inc. and Chariot Manufacturing Company, Inc. ACS has also announced a Strategic Partnership to American Fiber Green Products, Inc., with a patented process for fiber glass recycling.
Details of American Commerce Solutions, Inc. and the IMW subsidiary may be seen at the corporate website http://www.aacssymbol.com .
Chariot Manufacturing Company, Inc., http://www.chariot-trailer.com is also a wholly owned subsidiary of American Commerce Solutions, Inc.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward- looking statements, including, but not limited to, certain delays and risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: American Commerce Solutions, Inc.
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