June 14, 2007 16:00 ET

AAMPRO Announces Completion of Reverse Split

PEAPACK, NJ--(Marketwire - June 14, 2007) - AAMPRO Group, Inc. (OTCBB: AAPO) (the "Company") today announced that the 1 for 300 reverse split of its common stock will be effective upon the open of trading on June 15, 2007. The Company's common stock will begin trading on a split-adjusted basis under the new trading symbol "APGO."

John, F. Vitale, the Company's recently appointed Chairman and Chief Executive Officer, stated, "The reverse split is yet another step in the Company's reorganization and shift toward its ATM placement and electronic transaction processing operations."

As a result of the reverse stock split, each 300 shares of issued and outstanding common stock as of the close of trading on today's close shall be automatically converted into one share of common stock. The number of shares of the Company's common stock issued and outstanding will be reduced to approximately 178,000 shares post-reverse-split. The number of shares of common stock subject to outstanding options and warrants issued by the Company will also be reduced proportionately. No fractional shares will be issued in connection with the reverse split. Stockholders who would be entitled to fractional shares will receive a whole share of common stock in lieu of receiving fractional shares.

Forward-Looking Statements

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Forward-looking statements involve risks and uncertainties. Actual events could differ materially and substantially from those projected herein and depend on a number of factors Certain statements in this release, and other written or oral statements made by AAMPRO Group, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied including the success of the Company's research and development strategy, the availability of adequate financing, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process, described in the "Management's Discussion and Analysis" section of the Company's Form 10-KSB and other reports and filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    John F. Vitale
    (908) 212-4647