American International Industries, Inc nowadays announces the endorsement by its board of directors to repurchase up to $1,000,000 value of its common supply.
The board's choice is footed on the fact that the market cap of AMIN is just about $6,000,000, which is corresponding to the amount of AMIN's cash and trading securities, without counting the trading value of our 48.1% interest in our publicly-traded supplementary, Delta Seaboard International, Inc., the value of our 100% owned subsidiaries Northeastern Plastics, Inc., Shumate Energy Technologies, Inc. in addition to the equity value of our real estate investments.
Mr. Daniel Dror, Chairman and Chief Decision-making Officer of AMIN, stated "We believe the approval of a share repurchase program at this time is a indication of the board's confidence in the future of our business and reaffirms our commitment to enhancing shareholder value."
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