MELBOURNE, Fla., Nov. 1, 2007 (PRIME NEWSWIRE) -- Alternative Construction Technologies, Inc. (OTCBB:ACCY) announced today it responded to the initial inquiry by The American Stock Exchange (AMEX) for listed trading of its common shares on October 30, 2007. In an effort to comply with the regulatory and procedural requirements of the AMEX, the Company's Board of Directors has recently approved the Charters for the Audit Committee, Nomination Committee, and the Compensation Committee. The AMEX may take up to 30 days to respond to our recent submission. The Company selected the AMEX as its preferred trading platform because of its unique ability to work with small businesses that are on the cutting edge of new technologies, products, and services. The AMEX fosters growth opportunities for small and mid-sized companies facing significant challenges in today's increasingly competitive marketplace.
The Audit Committee Chairperson is Jeffrey B. Saturday, an independent developer and business major graduate of the University of North Carolina. Mr. Saturday is also a football player in the National Football League(r) with the Indianapolis Colts(r). Michael W. Hawkins, the Company's President and CEO, serves as the Chairperson for the Nomination Committee. The Compensation Committee is chaired by Willis Kilpatrick, an independent developer and member of the Board of Directors.
Alternative Construction Technologies, Inc. (ACCY) possesses a unique and patented construction technology called the ACTech(r) Panel System that is used in the design and production of state of the art buildings in commercial, residential, industrial and modular building applications. Generically known as structural insulated panels (SIPs), ACCY's revolutionary and efficient construction solution utilizes an inherently better galvanized steel "skin" SIP system to complete energy efficient, stronger, safer, faster, and more economical structure than conventional wood and brick based building products. The patented ACTech(r) SIP system is environmentally-friendly and easier to construct with -- not only saving labor cost and cutting construction time, but also reducing recurring monthly heating and cooling energy bills by 30-50% and often more. Most importantly, the ACTech(r) Panel System possesses disaster tolerant strength and has tested stronger than conventional concrete block or wood frame construction. In hurricane projectile tests, the ACTech(r) Panel System has proved to meet or surpass the most stringent wind, projectile and uplift codes in the nation levied by the 2006 Florida Building Code. The ACTech(r) Panel System offers builders and consumers many competitive and comparative advantages of use due to its wide range of attributes. As this new construction technology gains awareness or hurricane- and tornado-prone states establish new building codes and rebuild from recent weather disasters, ACCY believes its products will be in greater demand.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.