SOURCE: AAA Public Adjusting Group, Inc.

AAA Public Adjusting Group, Inc.

July 06, 2011 09:26 ET

Major Shareholders of AAA Public Adjusting Group Enter Into Market Volume Limitation Agreement Covering 14,834,970 Shares of the 15,866,000 Unrestricted Shares

HOLLYWOOD, FL--(Marketwire - Jul 6, 2011) - AAA Public Adjusting Group, Inc. (PINKSHEETS: AAAA) announces that six of its largest unrestricted shareholders entered into a binding Stock Volume Limitation Agreement, which limits the availability of shares to be sold between the participating shareholders. The Stock Volume Limitation Agreement was entered into on June 6, 2011, and covers 14,834,970 shares of the 15,866,000 unrestricted shares of AAA's common stock.

The Agreement which was done all by outsiders of the Company is for an initial 90 day period, with possible extensions. The agreement was entered into by the shareholders as private parties, and limits their sales to a basic 1% of their holdings in a single day of trading, and no trading at all if the share price goes up 20% in any one day. The Limitation Agreement has severe penalties that are imposed for straying outside the bounds of the Agreement including liquidated damages and immediate injunctions. The Agreement is governed by an independent Arbiter who receives the reports of Agreement members and can cut off trading permission.

AAA did not participate as a Company in sponsoring, preparing or otherwise making the Stock Volume Limitation Agreement occur. However, CEO Chris Lombardi stated "these are long term holders and friends of the company. How can you not appreciate their loyalty and putting their money where their mouth is for us."

About AAA

AAA has over 100 years combined experience adjusting insurance claims in the state of Florida. They handle all aspects of the claims process including documentation, estimation, and settlement on behalf of the insured. AAA handles first-time and reopened claims sometimes rewarding the insured with ten times the original settlement. In addition to the thousands of clients they currently have, AAA has an ever expanding customer base as the millions of Floridian homeowners who have insurance may encounter a claim. In 2011 AAA has plans to expand operations and advertising efforts to boost revenues and ensure longevity in the Florida and beyond.

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "projected," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Contact Information

  • Contact:
    Phillip McAliley