EAST STROUDSBURG, PA - February 3, 2014 - AmeriWorks Financial Services, Inc. announced today a name change to AmeriWorks, Inc. ("AWKS" or the "Company") and a 1 for 100 reverse split of its Common Stock. In addition, the Company amended its certificate of incorporation with the State of New Jersey to reduce the authorized Common Stock from 30,000,000 to 12,000,000. After the reverse split, the Company has 210,000 shares of Common Stock issued and outstanding with approximately 105,000 shares free trading. Trading of the post-split shares began on the Effective Date, January 29, 2014, after confirmation of the corporate action by FINRA. The stock currently trades OTC, Pink Sheets (OTC Pink: AWKS), but for the 20 days following the Effective Date of January 29, 2014 the stock will trade with the symbol AWKSD (OTC Pink: AWKSD). Thereafter the symbol will return to its original symbol of AWKS. The reverse split will be rounded up to the benefit of the beneficial holder. There is no mandatory exchange of shares however; the post-split shares do have a new CUSIP number. Shareholders interested in exchanging old shares for new shares can email the company for instructions at firstname.lastname@example.org.
"By completing this reverse stock split, we expect to gain broader access to funding which will allow us to move the Company in the direction of tire recycling and toward a listing on the OTC Bulletin Board. The Company was incorporated in May, 1995 and the weight of that history has prevented the Company from attracting new investors. The reverse split gives the Company a fresh start and allows the Board of Directors to provide the availability of common stock necessary to fund our future, take advantage of acquisition opportunities and raise capital," said Mr. Louis Perosi, Jr., President of AmeriWorks, Inc.
AWKS is entering the business of recycling tires and converting them to alternative products. Revenue streams from traditional tire recycling companies come from tipping fees (fees received for accepting scrap tires at your property location), and from shredding scrap tires for their component parts, including oil. These are the immediate revenue streams the Company is projecting it will begin receiving within 6 months of funding. In addition, The Company felt it would be an important business strategy to enter this field with a unique product made from scrap tires as an advantage over its competition. On December 1, 2013 the Company signed a Letter of Intent with Re-Tread Products Inc. ("RTP"). RTP developed a patented product called the Tire Log™ which has been researched, developed and tested using two New York State grants totaling $400,000. AWKS has the opportunity to purchase RTP for a period of six months to June 1, 2014. The Letter of Intent may be extended by written consent of both parties. A video of the Tire Log™ product can be seen on YouTube at http://www.youtube.com/watch?v=IJnB1498qCQ.
The Company will seek to raise $500,000 in a private placement at $0.40 per share and thereafter seek a small broker/dealer to sell a $5 million S-1 Registration Statement to be filed by the Company with the Securities & Exchange Commission by approximately April 1, 2014. As can be seen by the video, a Tire Log™ is a versatile and patented product which has provided certain municipalities in New York State with highway erosion solutions at a fraction of the cost of traditional solutions. The recycling method to create a Tire Log™ is based on a simple procedure that helically wraps the steel belted tread of the tire around a core of tire treads to any length or diameter. Tire Logs™ can be made in 10 foot and 20 foot lengths. The net result is a building material that lends itself to applications such as: contour landscaping, security barricades, bunkers, temporary shelters, heavy equipment platforms, bulkheads, and crash barriers, at approximately 60% the cost of conventional building products. Moreover, each Tire Log™ manufacturing facility could employ up to two dozen or more American workers and may upcycle close to 2 million waste tires per year.
The Tire Log™ product will not provide revenue for the Company for at least two years while the manual machinery manufactured during the R&D stage is automated. However, a limited number of Tire Logs™ are expected to be made during this period for further testing, especially as a building material in earthquake prone regions of the world. The Company plans to test the "bend not break" characteristic of the Tire Log™ product by partnering with certain University or private enterprise organizations to test the viability of the Tire Log™ as a building material under extreme conditions.
Several laboratories in the U.S. operate hydraulic shaker tables specifically designed to meet an earthquake simulation of 8.4 on the Richter scale. George Washington University is presently testing building materials to find which material can stand up to a severe earthquake. Researchers hope to use the testing results to identify the types of materials that can be used for rebuilding in quake ravaged places like Haiti. The fact is, AmeriWorks is positioned to enter the traditional tire recycling business and take advantage of the immediate revenue streams therefrom as well as anticipate the vertical growth it might expect from the manufacture and sale of Tire Logs™ directly to local, county and state agencies, the military, foreign franchises and directly to the public through retail operations like Lowes and Home Depot.
Louis Perosi, Jr.
SOURCE: AmeriWorks, Inc.