All American Pet Company Addresses Libelous Statements and Meritless Accusations Disseminated by a Disgruntled/Dismissed Form...
January 11 2013 - 9:09AM
Marketwired
All American Pet Company, Inc. (OTCQB: AAPT) -- Announced today
that the company's former controller by a letter dated January 10,
2013 to a select group of company investors, made a series of
libelous statements and meritless accusations regarding its Chief
Executive and President. The company believes that as a result of
this former employee's selective, but unauthorized series of
inaccurate disclosures to these investors -- the volume of the
company's stock traded as of the close of business on January 10,
2013 increased to 41.18 million shares from a three month average
daily volume of 1.374 million shares as reported by OTC
Markets.com. The price per share of our common stock as of the
close of business on Thursday, January 10, 2013 dropped -38.66%
from the prior closing price of $.0269 to $.O165 per share. In his
letter this former employee also solicited signed ballots from
shareholders seeking the removal of the directors of the company.
The company views the statements made as libelous and
defamatory, made with the intent to deceive and believes that those
statements and the former employee's actions violate federal
securities laws as well as civil and criminal law. These activities
by a disgruntled former employee of AAPT have needlessly damaged
the company and severely harmed company shareholders. The company
has notified the appropriate regulatory authorities and is
reviewing appropriate further actions.
Barry Schwartz, AAPT CEO, stated, "We regret this reckless and
unscrupulous behavior." He further noted that, "I have spoken to
dozens of investors today by phone from our Kansas facility where I
am overseeing the production of millions of food bars and tons of
treats to meet retailer demand. We remain focused on and confident
of, the company's business and its future."
ABOUT: All American Pet Company produces,
markets, and sells all-natural super-premium patented wellness
products under proprietary brand names specifically for dogs.
Forward-Looking Statements
This news announcement contains or may contain certain
"forward-looking statements." Forward-looking statements may
include, without limitation, statements regarding AAPT's plans,
objectives, projections, expectations and intentions and other
statements identified by words such as "projects," "may," "could,"
"would," "should," "believes," "expects," "anticipates,"
"estimates," "intends," "plans" or similar expressions. Such
forward-looking statements are subject to significant risks and
uncertainties, including those detailed in filings made by All
American Pet Company, Inc. with the Securities and Exchange
Commission. Accordingly we caution our readers that actual results
may differ materially and adversely from our beliefs or
expectations due to economic, business, competitive, market,
financing and regulatory factors. We assume no obligation or
undertaking to update any forward-looking statements to reflect any
changes in expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based. You should, however, review additional risk factors and
other disclosures we make in the reports filed with the Securities
and Exchange Commission.
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Contact Information All American Pet Company, Inc. For more
information on the company, visit: www.allamericanpetcompany.com
Corporate Office: 310-689-7355 Investor Relations: 310-689-7357
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