Amelot Holdings, Inc. Announces Formation and Profitability of Its New Subsidiary
January 14 2011 - 8:00AM
Marketwired
Amelot Holdings, Inc. (PINKSHEETS: AMHD) is pleased to announce the
formation of its new subsidiary, Amelot Properties, LLC ("Amelot
Properties").
The Subsidiary's mandate is to buy undervalued properties in
strategic locations and to perform eco-friendly market renovations
that significantly increase the resale value of the properties.
These newly upgraded residences will be environmentally responsible
and resource-efficient that will make them attractive for
buyers.
Since its inception last month, Amelot Properties has purchased
four residential properties. One was put on the market and re-sold
with minimum upgrades due to market demand. The other two
properties were sold within two days after the completion of the
renovations. The fourth property was purchased yesterday. The
renovation plan is in place and the crew will begin working on it
next week and is expected to be completed by the end of the month
to be ready for marketing.
Upon sale and closing of these four properties, the Company
expects to book a net profit in excess of $75,000. Three additional
properties have also been identified for purchase and the offers
have been submitted this week.
"We are targeting properties that require no major structural
work, and can have a 10 day or less turnaround, thus allowing each
crew to complete three properties per month. We have assembled a
multi-talented crew with years of combined experience. All
renovations will include the upgrading of major appliances to more
energy efficient models and environmentally friendly models. In
some of the properties, we are planning to utilize advanced
environmentally conservation measures, such as solar technology,"
commented Fred Guarnieri, President and CEO.
On January 12, 2010, Mr. Guarnieri completed the purchase of an
additional 75 million shares of the Company's common stock,
bringing his total to 1,076,275,000. The Company currently has
4,624,573,155 shares outstanding.
Over the next few weeks, the Company will be issuing further
updates on its other subsidiaries.
About Amelot Holdings, Inc. (PINKSHEETS: AMHD):
Amelot Holdings, Inc. (http://www.amelotholdings.com), a
publicly traded company, is a diversified holding company that has
identified Biodiesel as a multi-billion emerging Biofuel market.
Amelot plans to have a significant market share in growing low cost
feedstocks to supply the growing demand for biodiesel, to reduce
energy dependency of fossil fuels, to help reduce the U.S.
dependency on foreign oil supplies and reduce the impact of energy
on our environment.
Statements in this press release that are not historical facts
are forward-looking statements within the meaning of the Securities
Act of 1933, as amended. Those statements include statements
regarding the intent, belief or current expectations of the Company
and its management. Such statements reflect management's current
views, are based on certain assumptions and involve risks and
uncertainties. Actual results, events, or performance may differ
materially from the above forward-looking statements due to a
number of important factors, and will be dependent upon a variety
of factors, including, but not limited to, our ability to obtain
additional financing and access funds from our existing financing
arrangements that will allow us to continue our current and future
operations and whether demand for our products and services in
domestic and international markets will continue to expand. The
Company undertakes no obligation to publicly update these
forward-looking statements to reflect events or circumstances that
occur after the date hereof or to reflect any change in the
Company's expectations with regard to these forward-looking
statements or the occurrence of unanticipated events.
Contact: Amelot Holdings, Inc. 1-(646)-926-3568
support@amelotholdings.com http://www.amelotholdings.com
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