AmeriWorks, Inc. Announces Reverse Split and Name Change
03 Februar 2014 - 5:55PM
Marketwired
AmeriWorks, Inc. Announces Reverse Split and Name Change
EAST STROUDSBURG, PA--(Marketwired - Feb 3, 2014) - AmeriWorks
Financial Services, Inc. announced today a name change to
AmeriWorks, Inc. ("AWKS" or the "Company") and a 1 for 100 reverse
split of its Common Stock. In addition, the Company amended its
certificate of incorporation with the State of New Jersey to reduce
the authorized Common Stock from 30,000,000 to 12,000,000. After
the reverse split, the Company has 210,000 shares of Common Stock
issued and outstanding with approximately 105,000 shares free
trading. Trading of the post-split shares began on the Effective
Date, January 29, 2014, after confirmation of the corporate action
by FINRA. The stock currently trades OTC, Pink Sheets (OTC Pink:
AWKS), but for the 20 days following the Effective Date of January
29, 2014 the stock will trade with the symbol AWKSD (OTC Pink:
AWKSD). Thereafter the symbol will return to its original symbol of
AWKS. The reverse split will be rounded up to the benefit of the
beneficial holder. There is no mandatory exchange of shares
however; the post-split shares do have a new CUSIP number.
Shareholders interested in exchanging old shares for new shares can
email the company for instructions at smallstock@verizon.net.
"By completing this reverse stock split, we expect to gain
broader access to funding which will allow us to move the Company
in the direction of tire recycling and toward a listing on the OTC
Bulletin Board. The Company was incorporated in May, 1995 and the
weight of that history has prevented the Company from attracting
new investors. The reverse split gives the Company a fresh start
and allows the Board of Directors to provide the availability of
common stock necessary to fund our future, take advantage of
acquisition opportunities and raise capital," said Mr. Louis
Perosi, Jr., President of AmeriWorks, Inc.
Recent Developments
AWKS is entering the business of recycling tires and converting
them to alternative products. Revenue streams from traditional
tire recycling companies come from tipping fees (fees received for
accepting scrap tires at your property location), and from
shredding scrap tires for their component parts, including oil.
These are the immediate revenue streams the Company is projecting
it will begin receiving within 6 months of funding. In addition,
The Company felt it would be an important business strategy to
enter this field with a unique product made from scrap tires as an
advantage over its competition. On December 1, 2013 the Company
signed a Letter of Intent with Re-Tread Products Inc.
("RTP"). RTP developed a patented product called the Tire
Log™ which has been researched, developed and tested using two
New York State grants totaling $400,000. AWKS has the opportunity
to purchase RTP for a period of six months to June 1, 2014. The
Letter of Intent may be extended by written consent of both
parties. A video of the Tire Log™ product can be seen on YouTube at
http://www.youtube.com/watch?v=IJnB1498qCQ.
The Company will seek to raise $500,000 in a private placement
at $0.40 per share and thereafter seek a small broker/dealer to
sell a $5 million S-1 Registration Statement to be filed by the
Company with the Securities & Exchange Commission by
approximately April 1, 2014. As can be seen by the video, a Tire
Log™ is a versatile and patented product which has provided certain
municipalities in New York State with highway erosion solutions at
a fraction of the cost of traditional solutions. The recycling
method to create a Tire Log™ is based on a simple procedure that
helically wraps the steel belted tread of the tire around a core of
tire treads to any length or diameter. Tire Logs™ can be made
in 10 foot and 20 foot lengths. The net result is a building
material that lends itself to applications such as: contour
landscaping, security barricades, bunkers, temporary shelters,
heavy equipment platforms, bulkheads, and crash barriers, at
approximately 60% the cost of conventional building
products. Moreover, each Tire Log™ manufacturing facility
could employ up to two dozen or more American workers and may
upcycle close to 2 million waste tires per year.
The Tire Log™ product will not provide revenue for the Company
for at least two years while the manual machinery manufactured
during the R&D stage is automated. However, a limited number of
Tire Logs™ are expected to be made during this period for further
testing, especially as a building material in earthquake prone
regions of the world. The Company plans to test the "bend not
break" characteristic of the Tire Log™ product by partnering with
certain University or private enterprise organizations to test the
viability of the Tire Log™ as a building material under extreme
conditions.
Several laboratories in the U.S. operate hydraulic shaker tables
specifically designed to meet an earthquake simulation of 8.4 on
the Richter scale. George Washington University is presently
testing building materials to find which material can stand up to a
severe earthquake. Researchers hope to use the testing results to
identify the types of materials that can be used for rebuilding in
quake ravaged places like Haiti. The fact is, AmeriWorks is
positioned to enter the traditional tire recycling business and
take advantage of the immediate revenue streams therefrom as well
as anticipate the vertical growth it might expect from the
manufacture and sale of Tire Logs™ directly to local, county and
state agencies, the military, foreign franchises and directly to
the public through retail operations like Lowes and Home
Depot.
Contacts Louis
Perosi, Jr. President smallstock@verizon.net 1-570-856-2253
AmeriWorks (CE) (USOTC:AWKS)
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