SOURCE: Action Products International, Inc.

Action Products International, Inc.

May 27, 2011 12:59 ET

Action Products International Updates Shareholders on Progress of Restructuring

NEW YORK, NY--(Marketwire - May 27, 2011) - Action Products International, Inc. (PINKSHEETS: APII) today said the company is on track to escalate its restructuring activity in the coming months.

Action Products International reported that the company has been working with a group of advisors to complete the following in a timely manner:

  • Reduce and/or elimination of outstanding debt;
  • Settle outstanding lawsuits, which the company maintains are frivolous in nature;
  • Appointment of a well-respected board of [outside] directors to oversee the future plans and growth of the company;
  • Secure a strong and effective management team; and
  • Complete several acquisitions of small businesses with the potential to grow exponentially.

"We know that our shareholders have gone through a difficult period and we thank them for their continued patience as we set about completing a significant number of steps that are required to position Action Products International for future growth and strength," said Gary Polistena, Chairman and CEO. He noted that the company intends to update shareholders on a regular basis as to the progress made in this effort.

"To this end, we have retained the national public relations firm Martin E. Janis & Company, Inc. to assist us in providing information to our various constituencies, particularly our shareholders," he added.

Action Products International, Inc. currently is in various stages of conversations with potential acquisitions and intends to become a holding company for small-to-mid-sized businesses that bring unique products and/or services to the marketplace with the potential to rapidly grow in their specific areas.

Safe Harbor Statement

This press release contains 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 based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of information, future events or otherwise.