(OTCBB: AACS)
together with wholly owned subsidiaries, International Machine and Welding,
Inc. and Chariot Manufacturing Company, today released preliminary results
of operations for the year ending February 29, 2008.
Daniel L. Hefner, President and Chief Executive Officer of American
Commerce Solutions, Inc., stated, "Based upon the company's consolidated
books and records, which are currently being audited, we are pleased to
announce that ACS will report a 21% increase in revenue over last year. Net
sales totaled $2,850,768 compared to $2,351,288 for the same period last
year. Gross profit increased by 44.6% in year over year results, while the
net loss for all operations was reduced by 28.6%."
Hefner continued, "We are encouraged by the progress that these numbers
reflect and are looking forward to the opportunities of the new fiscal year
that started on March 1st. This will be a year of change within the company
as we seek out new, more profitable earning opportunities while continuing
to build on our current customer base and operations. This year we
anticipate that Chariot Manufacturing Company will begin to reach its
potential and increase revenues the way that International Machine and
Welding, Inc. did over the last year. We will continue to be challenged by
economic conditions, but we are confident that our management will meet the
challenge."
American Commerce Solutions, Inc. maintains a Strategic Partnership with
American Fiber Green Products, Inc., www.americanfibergreenproducts.com
(OTCBB: AFBG).
AFBG began public trading on May 2, 2008.
American Commerce Solutions, Inc. is a multi-industry holding company. ACS
currently has wholly owned subsidiaries International Machine and Welding,
Inc. and Chariot Manufacturing Company, Inc. which includes Chariot
Trailers and the AFG job shop. The ACS website, www.aacssymbol.com
highlights the IMW operation and links to the Chariot website,
www.chariot-trailer.com.
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.
For company updates and information, as well as investment opportunity,
please contact:
Mackey McFarlane
Financial Advisor
Aegis Capital Corp.
212-813-1010 Office
mmcfarlane@aegiscap.com