AMERICAN INTERNATIONAL INDUSTRIES, INC.
601 CIEN STREET, SUITE 235, KEMAH, TX 77565-3077
Tel: (281) 334-9479 Fax: (281) 334-9508
www.americanii.com email: firstname.lastname@example.org
FOR IMMEDIATE RELEASE
AMERICAN INTERNATIONAL INDUSTRIES, INC. FILES ITS 10-QSB, REPORTS SECOND QUARTER RESULTS AND NEW BUSINESS DEVELOPMENTS AT IMTG, ITS 85% OWNED SUBSIDIARY
Kemah, Texas Ė August 15, 2005 American International Industries, Inc. (OTCBB: AMIN) Mr. Gary Woerz, Chief Financial Officer, announced today the Company reported record revenues for the three months ending June 30, 2005 of $4,869,929 as compared to $3,527,298 in 2004 an increase of 38% and for the six month period ending June 30, 2005 $8,985,621 as compared to $6,388,382 in 2004, an increase of 40%. The company reported that total assets increased in the 2nd quarter from $22,745,845 to $28,615,513 an increase of approximately 26%. For the three-month period ending June 30, 2005 Stockholders Equity increased from $14,145,154 to $15,348,191 an increase of more than 8% in the quarter. The Company reported a loss for the three-month period ending June 30, 2005 of ($253,948) as compared to a loss of ($491,401) in 2004, a 50% decrease. The business of NPI a wholly owned subsidiary of the company is seasonal, and itís sales and most profits are reported in the 3rd and 4th quarters of the year. For the six-month period ending June 30, 2005 the company incurred a loss of ($2,014,891) which is included in the previously reported market value loss of the companyís investment in Orion Healthcorp, Inc. The Company previously announced that it had filed a claim of fraud and security violations against Orion Healthcorp, Inc. who allegedly caused substantial damages to the company. The claim was filed in the Houston District Court against Orion Healthcorp, Inc., formerly SurgiCare, Inc., Brantley Capital Corporation, Brantley Venture Partners III, LP and Brantley Venture Partners IV, LP and certain directors of these companies. Although there are no assurances of the outcome, the company strongly believes it will recover its loss and will prevail in its claim against Orion Healthcorp, Inc. et all. The market value loss from the Orion Healthcorp, Inc. equates to ($0.08) per share fully diluted.
Mr. Dror, Chairman and CEO, stated that our 85% owned subsidiary International American Technologies, Inc. (OTCPK:IMTG) has finalized its acquisition of Hammonds Technical Services, Inc. as of April 28, 2005.
Hammonds has received an order for two Model G-30 Omni Directional Vehicles (ODVís) from the U.S. Air Force. The units will be used for relocating equipment and servicing C-17 and other aircraft. Hammonds believes that the ODVís unique maneuvering capabilities will provide efficiency and safety not available from other handling concepts. In addition to material handling, Hammonds will be offering the ODV to all branches of the United States military for other applications including aircraft towing and the next generation of munitions handling.
The ODV is a proprietary product of Hammonds Technical Services, Inc. and is covered by multiple United States patents.
In September, Hammondsí Fluid Handling Division will deliver eight high volume additive injection systems to Custom Fuel Services for the purpose of blending EnerBurn‚ performance additive for various towing operators along western rivers of the United States. These initial systems will be part of a larger program to provide blended fuel to the towing industry. Hammonds will ultimately provide "Smart" technology to these systems, which are larger versions of its military injectors that are used to produce JP-8 fuel throughout the world. These systems represent state-of-the-art additive blending that includes data collection; performance monitoring and audit trail retrieval for all transactions.
Our subsidiary Northeastern Plastic, Inc. (NPI) as reported earlier secured a licensing agreement from Motor Trend and further secured a license agreement from Good Housekeeping for its new family of products (Good Choice), NPI is presently selling its products to Auto Zone, Family Dollar Stores, and other large retailers. Because of these new contracts we expect significant growth in NPI during the next twelve months.
The Company is continuing ongoing negotiation for the acquisition of an oil refinery previously announced in press release dated March 28, 2005.
For more detailed information, please review our year-end Form 10-KSB filing with the SEC.
American International Industries, Inc. is a holding company. The Company has holdings in Industry, Oil and Gas Services, Finance, and Real Estate in Houston area. The vision of the Company is to acquire controlling interests in undervalued companies and assets in which it takes an active role to improve their growth and profitability, by providing its subsidiaries with access to capital, leveraging synergies and using AMINís management expertise. As a holding company, AMIN achieves economies of scale by consolidating administrative functions for each of its subsidiaries.
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 value of our real estate portfolio, the strength of the real estate market in Houston, Texas as a whole, 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 potential 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: email@example.com