American Water Star (AMEX:AMW)
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American Water Star Inc. (AMEX: AMW) is proud to
announce in an SEC 8-K filing made today that it has reached an
agreement with Laurus Master Funds Inc. The company is proud to
announce it is in full compliance on its terms with Laurus, and is no
longer in default on its debt covenants with Laurus.
Roger Mohlman, CEO of American Water Star, commented, "We are
pleased to have completed this significant milestone in our turnaround
at American Water Star. The co-operation from Laurus was
unprecedented, and is clearly a reflection of their support of our
business."
On a separate note, Mohlman added, "We are also pleased to
announce that the sales of our private label water, known as Desert
Ice and Vegas Ice, are continuing their unprecedented growth in the
Las Vegas area market. Strong repeat orders are continuing to come in
at unprecedented rates from key retailers such as CVS, Walgreens,
Speedee Mart and others. Having been in the market for less than three
months with these new brands, we are thrilled at the initial sales
results."
About American Water Star Inc.
American Water Star Inc. ("AMW") is a publicly traded company and
is engaged in the beverage bottling industry. Its product brands are
licensed and developed in-house, and bottled in strategic locations
throughout the United States. AMW's beverage products are sold by the
truckload, principally to distributors, who sell to retail stores,
corner grocery stores, convenience stores, schools and other outlets.
At AMW, we believe our great-tasting, new zero sugar, zero calorie
flavored water beverages have positioned us to capture a large share
of the market for healthy flavored waters. Our product line consists
of four branded beverages: Geyser Sport; Geyser Fruit; Geyser Fruta;
and Hawaiian Tropic. Geyser Sport is a sugar-free, calorie-free,
carb-free fruit-flavored beverage fortified with vitamins and calcium,
offered in eight different fruit flavors. Geyser Fruit is a
non-carbonated water with a low sugar content, also offered in eight
different flavors. Geyser Fruta is targeted to the Hispanic market and
includes authentic Latin-flavored beverages. Our Hawaiian Tropic
products feature sugar-free, no carbohydrate, caffeine-free,
sodium-free tropical drinks offered in four flavors.
Forward-Looking Statements
This press release may contain statements that constitute
"forward-looking statements" as defined under U.S. federal securities
laws. Generally, the words "believe," "expect," "intend," "estimate,"
"anticipate," "establish," "project" and similar expressions identify
forward-looking statements, which generally are not historical in
nature. Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from our historical experience and our present expectations or
projections. These risks include, but are not limited to, any benefits
of the Laurus financing; our ability to repay the indebtedness;
changes in economic conditions; changes in the non-alcoholic beverages
business environment, including actions of competitors and changes in
consumer preferences; our ability to capture market share; the
effectiveness of our advertising and marketing programs; fluctuations
in the cost and availability of raw materials or necessary services;
our ability to avoid production output disruptions; our ability to
achieve earnings goals; regulatory and legal changes; our ability to
penetrate developing and emerging markets; litigation uncertainties;
and other risks discussed in our filings with the SEC, including our
Annual Report on Form 10-KSB, Quarterly Reports on Form 10-QSB, and
Current Reports on Form 8-K, which reports are available from the SEC.
You should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. We undertake no
obligation to publicly update or revise any forward-looking statements
to reflect current events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.