AMERICAN INTERNATIONAL INDUSTRIES, INC.
(OTCBB: “AMIN”)
601 CIEN STREET, SUITE 235, KEMAH, TX
77565-3077
Tel: (281) 334-9479
Fax: (281) 334-9508
www.americanii.com
email: aiii@wt.net
AMERICAN
INTERNATIONAL INDUSTRIES, INC.
FILES
YEAR END 2003 FORM 10-KSB
Kemah, Texas
– April 14, 2004
American International Industries, Inc. (OTCBB: AMIN) today announced it has filed its December 31, 2003
Form 10-KSB.
The Company’s oil and gas subsidiary,
Delta Seaboard Well Service, Inc., previously announced the sale of its wet
works rigs as related to the restructuring of Delta’s operations and the
consolidation of Delta’s Louisiana subsidiary in Lafayette, Louisiana with
Delta’s Houston, Texas operations. The Company, using conservative accounting
principles, recorded a non-recurring charge of $463,000 related to Delta’s
consolidation. Delta’s land rigs in Texas are operating at full capacity and
the Company expects that the high costs of energy related products would have a
positive impact on its revenue growth. The Company’s plan is to expand
Delta’s operations by acquiring additional rigs in the Texas gulf coast area.
American International Industries, Inc.
is a growing holding company, with interest in Industry, Finance, Real Estate
and Oil & Gas. AMIN intends to pursue potential acquisitions using its
financial resources and management to grow acquired businesses, improve access
to capital and achieve economies of scale, in order to improve revenues,
operations and profitability. Periodically as opportunities present themselves,
we may sell or merge the subsidiaries in order to bring value to the holding
company and our shareholders.
Private Securities Litigation Reform Act Safe Harbor Statement:
The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate in each of our segments reflected by our subsidiaries' operations include without limitations, continued acceptance of the Company's products and services, increased levels of competition, new products and technology changes, the dependence upon financing, third party suppliers and intellectual property rights, the rules of regulatory authorities and risks associated with any acquisitions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof.
Investor
Relations: Rebekah Ruthstrom Tel: 281-334-9479 email: aiii@wt.net