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

 

 

FOR IMMEDIATE RELEASE                                                              

 

 

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