Message #31 From:
NewsBot Date: October 24, 2006 12:29:00 PM
AMIN News American International Industries, Inc. Received $750,000 Today from Partial Settlement of Litigation with SurgiCare, Inc.
KEMAH, Texas--(BUSINESS WIRE)--American International Industries, Inc. (OTCBB:AMIN)
Mr. Daniel Dror, Chairman and CEO, today announced that the Company
received $750,000 as a partial settlement in its litigation against
SurgiCare, Inc. and UHY Mann Frankfort Stein Lipp CPA’s,
LLP. The Company released SurgiCare and its affiliates from any further
liabilities to the Company; however, the Company is vigorously pursuing
its claims against UHY Mann Frankfort Stein Lipp CPA’s,
LLP.
Mr. Dror further stated that the Company held its annual meeting on
September 27, 2006 and 92% of the Shareholders voted, with 97% of the
voting Shareholders voting FOR the re-election of all Directors and the
engagement of John A. Braden & Company, PC as Independent Auditors for
2006.
American International Industries, Inc. is a holding company. The
Company has holdings in Industry, Finance, Real Estate in Houston, Texas
and surrounding areas, and Oil & Gas. The vision of the Company is to
develop holdings in various industries through acquisition of existing
companies, applying the financial resources and management expertise to
foster the growth and profitability of the acquired businesses. The
holding company serves as a financial and professional partner to the
management of the subsidiaries. The role of the holding company is to
improve each subsidiary’s access to capital,
achieve economies of scale by consolidating administrative functions,
and utilize the financial and management expertise of corporate
personnel across all units. The Company is continuing to work with
management of the subsidiary companies to improve revenues, operations
and profitability.
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.
