SUNRISE, Fla., Aug. 15, 2013 (GLOBE NEWSWIRE) -- Fuelstream, Inc. (OTCQB:FLST) ("Fuelstream" or the "Company") announced today that operations of the Company are continuing in spite of an indictment filed yesterday in the U.S. District Court, Southern District of Florida, against Aviation Fuel International, Inc. ("AFI"), the Company's wholly-owned subsidiary, as well as one of the Company's employees. The indictment contains allegations against AFI and Sean Wagner, the Company's Vice President of Sales, relating to activities of them prior to AFI's acquisition by Fuelstream in January 2012.
Neither Fuelstream or any of its executive officers or directors were named in the indictment and none of the actions alleged therein are claimed to relate to activities of the Company or any individual while in the employ of the Company.
Mr. Wagner's attorney stated, in a telephone interview with Reuters, that Mr. Wagner is not guilty and that "the charges are based on fabrications by admitted criminals who hope that by implicating other people they're going to get a sentence reduction." Mr. Wagner's attorney further commented that the testimony of such persons would not withstand a public trial, which Mr. Wagner has specifically requested. The allegations in the indictment stem from alleged activities from 2005 thru 2009, which was approximately 3 years prior to the acquisition of AFI by Fuelstream.
Mr. Wagner continues to work with the Company in securing additional fuel delivery contracts and expanding the Company's sales pipeline. Robert Catala, the Company's Chief Executive Officer, stated "while we are somewhat affected by Mr. Wagner's indictment we believe in the due process afforded by the American justice system and are confident Mr. Wagner will receive a fair trial. My duty as CEO is to continue to drive the Company in a positive direction by expanding our supply network and aggressively pursue new customers and secure financing in order to maximize shareholder value."
About Fuelstream
Fuelstream is an operating fuel logistics company that concentrates its supply chain management efforts in the distribution of aviation fuel to corporate, commercial, military, and privately-owned aircraft throughout the world. Currently, a majority of the Company's fuel and related services are concentrated in the sourcing, purchase and delivery of (Jet-A) fuel "into the wing" of private and commercial aircraft at various airports. With offices in Sunrise, Florida and Johannesburg South Africa, the Company intends to supply a variety of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations. For more information please visit www.thefuelstream.com.
Safe Harbor and Forward-Looking Statements
This press release contains certain forward-looking statements regarding possible future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, any risks and uncertainties with respect to the Company's operations, as well as those contained in the Company's quarterly, annual, and periodic filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.