American Locker (NASDAQ:ALGIE)
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From May 2019 to May 2024
American Locker Group Incorporated recently reported
that it filed its Annual Report on Form 10-K for its fiscal year ended
December 31, 2004, amended Quarterly Reports with respect to its first
three fiscal quarters of 2004 and its Quarterly Report on Form 10-Q
for its fiscal quarter ended March 31, 2005. As set forth in its Form
10-K for the 2004 fiscal year, the Company's independent registered
public accounting firm included a going-concern modification in its
report on the Company's consolidated financial statements as of and
for the fiscal year ended December 31, 2004. The Company currently is
working to complete and file its Quarterly Report on Form 10-Q for its
fiscal quarter ended June 30, 2005. The Company also recently reported
a change in the composition of its Board of Directors, with four new
directors having been appointed. With the addition of the four new
directors, the Board is now comprised of a total of seven directors, a
majority of whom are independent, with the Audit Committee consisting
of three independent directors.
The matters discussed in this press release which contain
forward-looking statements, including without limitation, statements
relating to the Company's plans, strategies, objectives, expectations,
intentions and adequacy of resources, are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that such forward-looking statements
involve certain known and unknown risks, some of which are beyond the
Company's control, including, among others, risks related to (i) the
Company's plans, strategies, objectives, expectations, and intentions,
which are subject to change at any time at the discretion of the
Company, (ii) the successful implementation of the Company's
restructuring plan, including a significant reduction of annual
selling, general and administrative expenses, the relocation of the
Company's headquarters in Texas, and the restructuring of its bank
debt on acceptable terms, (iii) new product development by the
Company, (iv) the Company's liquidity and capital resources, (v) the
Company's competition, and (vi) other risks and uncertainties
indicated from time to time in the Company's filings with the
Securities and Exchange Commission. The Company's actual results could
differ materially from those expressed in any forward-looking
statement made by or on the Company's behalf. In light of these risks
and uncertainties, there can be no assurance that the forward-looking
information will, in fact, prove to be accurate. The Company has
undertaken no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.