Rochester, NY 8/18/2009 11:47:55 PM
American International Industries, Inc., AMIN - American International Industries Inc. Recently Reports Hammond Industries, Inc Deconsolidation
American International Industries, Inc.
American International Industries Inc. recently announced that the company’s Board of Directors has approved the deconsolidation of Hammonds Industries, Inc. from the company effective December 31. The company estimates that its substantial gain from deconsolidation of over $13 million, or approximately $1.49 per share.
http://StockEinstein.com offers free daily stock alerts on companies ready to run. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
To effect the deconsolidation of Hammonds, the Company was required to reduce its ownership percentage, board membership, and guarantee of Hammonds' debt. After the distribution of the special dividend of approximately 17.4 million shares of Hammonds' common stock to the Company's shareholders of record on December 31, 2008, the Company's ownership will be approximately 13% of Hammonds' issued and outstanding common stock.
StockEinstein.com has a dedicated team uncovering stocks ready to break and run. We apply time tested criteria and when one of these stocks meets or exceeds our benchmarks, our subscribers are immediately notified directly to their in-box.
This is a free service available only to our subscribers. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
During 2009 our alerts have resulted in an average price gain of 80%+.
Disclaimer: Full disclaimer at http://StockEinstein.com/disclaimer.php
IMPORTANT: Never invest in any stock featured in any press release, email or website unless you can afford the loss of your entire investment. Stocks and particularly penny stocks have the possibility for dramatic gains, and also losses. Neither StockEinstein, nor any of its affiliates are registered investment advisors or broker dealers.
