VANCOUVER, Wash., July 18, 2005 (PRIMEZONE) -- Automotive Specialty Concepts (Pink Sheets:AMVS) announced today that it has paid off all major long-term debt, including Compass Capital, and has cancelled plans to become a BDC.
Paul H. Stringer, President, said, "We are moving forward, working on new marketing initiatives and expect to make more announcements in the near future. And we are pleased to be working with Novak Capital."
About Automotive Specialty Concepts, Inc.
http://www.automotivespecialtyconcepts.com/
Automotive Specialty Concepts, Inc. is a leading provider of marketing alternatives for the automobile industry specializing in sports memorabilia and collectable artwork for the car owners, especially customized logos for universities, and established sports leagues and teams. The company has patent protection for its proprietary processes.
This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.