American Water Star (AMEX:AMW)
Historical Stock Chart
From Jun 2019 to Jun 2024
American Water Star Inc. (AMEX: AMW), today announced
that on Jan. 12, 2006, it received notice from the American Stock
Exchange (AMEX) staff indicating that the company no longer complies
with AMEX's continued listing standards as set forth in Section
1003(a)(iv) of the Company Guide, and that its securities are,
therefore, subject to being delisted from AMEX. AMW filed a notice of
its required plan of compliance in a Form 8-K on Nov. 29, 2005,
wherein the company was to file its Form 10-QSB for the period ending
Sept. 30, 2005, as well as address other concerns
(http://www.sec.gov/Archives/edgar/data/1041580/000108417805000039/
form8k.txt).
As of the date of this release, the Form 10-QSB has not been filed
and the company is not current in its required filings with the
Securities and Exchange Commission (SEC) as a reporting company.
According to the notification, AMW has until Jan. 18, 2006, to file
an objection to the AMEX decision. While AMW is entitled to file an
objection to the decision, AMW has determined that an AMEX listing is
not in the company's best interests at this time.
With this development, pursuant to Section 12(d) of the Securities
Exchange Act of 1934 ("Act") and Rule 12d2-2(d) thereunder, AMW
intends to file an application with the SEC to withdraw its common
stock from listing and registration on the AMEX.
AMW plans to reregister with the SEC to be a 12(g) reporting
company and is working with its auditor and staff to file the Form
10-QSB for the period ending Sept. 30, 2005.
Upon the filing of its Form 10-QSB, AMW will immediately seek
listing on either the Over the Counter Bulletin Board (OTCBB) or the
Over the Counter (OTC) market instead of spending its resources trying
to maintain listing qualifications. The company cannot provide any
assurances that its securities will be included for listing on either
the OTCBB or OTC.
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 three branded beverages: Geyser Sport; Geyser Fruit; and Geyser
Fruta. 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.
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, delisting of
our securities from AMEX; our ability to secure a listing on the Over
the Counter Bulletin Board; our ability to meet our working capital
needs to continue operations; management's ability to seek additional
funding or potential merger and acquisition candidates; any additional
work that may be required for our financial statement preparation of
our 2005 third quarter report; the actual amount of annual sales of
AMW water; 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.