CLINTON TOWNSHIP, Mich., June 19, 2008 (PRIME NEWSWIRE) -- AmeriChip International Inc. (OTCBB:ACII) said today its new strategy focuses on its proprietary LACC (Laser Assisted Chip Control) technology.
PROFESSIONAL MANAGEMENT APPROACH
"This is a new strategic shift based on our recent management reorganization, as of May 27, 2008," said Kenneth W. Mann, Interim CEO. "We now focus on exploiting LACC business opportunities, which prior management had not.
"Using a professional management approach, we implemented a new organization chart with clearly defined roles, responsibilities, goals, objectives and performance milestones. We will tie rewards into easy-to-understand performance achievements.
"In addition, with the help of our new corporate controller, we are in the process of installing professional management reporting, control and accountings systems to provide financial transparency to better manage the business and to provide financial transparency for public shareholders."
EMPHASIS ON PRODUCTION & FREE CASH FLOW
Mr. Mann continued, "Our goal is to create a large production company that generates recurring, profitable top line revenue from blue chip customers, and our intent is to generate free cash flow for shareholders.
"We intend to establish and maintain an industry leadership role based on our proprietary LACC technology, which we intend to use on every applicable order as we move forward. We believe our technology will enable us to gain a long term competitive advantage in each of our markets."
About AmeriChip International
http://www.americhiplacc.com/sections/
Headquartered in Clinton Township, MI, AmeriChip International Inc. holds a patented technology known as Laser Assisted Chip Control, which can be used to re-engineer the manufacturing process for industrial metal machining applications.
For more information, visit our website at www.americhiplacc.com or contact investor relations, Cynthia Prince, americhip@att.net, 800-650-1708 ext 101, Fax 888-234-1796.
This release may include projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable; it can give no assurances that such expectations will prove to have been correct. Actual results could differ materially from the expectations disclosed in this release including, without limitation, forward-looking statements contained in this release.