American Water Star Inc. Announces Restructuring of Agreement with Laurus Master Funds Inc.; Company In Full Compliance on Terms
10 Agosto 2005 - 8:37PM
Business Wire
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.
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