NEW YORK, Aug. 12, 2010 (GLOBE NEWSWIRE) -- El Maniel International, Inc. (OTCBB:EMLL) Director and CEO Jamie Khoo announces today that the company has adjusted its share structure as part of an initiative to attract market support in line with its recent successes as a company.
The company's restructuring includes an authorized share count of 5,000,000,000 with a 2,292,110,000 outstanding. "It's important to note that 2,000,000,000 of these outstanding shares are held by company Directors and are restricted for a period of 1 year. We believe, again, this new structure will allow for flexibility in regards to our opportunities which should lend itself to overall market appeal for prospective partners and shareholders," states Jamie Khoo.
The company's Directors have elected to increase the authorized share count which will allow the company to fully realize its goals with these ventures toward overall growth including stated interest involving international mergers and acquisition. "We are confident that the expansion will result in a collective win for EMLL as we expedite these exciting, viable projects with frequent updates hereon," states Jamie Khoo. "The company has experienced tremendous growth in Q2 with the company's recent successes, which include its 70% stamp and collectibles company acquisition with assets currently valued at $4.5 million; as well as the acquisition of an oil terminal on a 5 acres of land surrounding, with a potential 24 million gallons of petroleum products per year."
EMLL will continue to advance the infrastructure project of its oil terminal located in Eastern Pennsylvania where several wholesalers have been interviewed and EMLL has received a better than expected response to their future products to be sold at the terminal site. In an effort to benefit from Pennsylvania as one of the foremost states in the USA that promotes alternative energy, EMLL has introduced its concepts and future project of biodiesel to various local organizations both on a County and State level to much interest. The current potential changes at the site include the repainting of the tanks with the EMLL logo. Jamie Khoo expects that the initial stages of the refurbishing of the site will be completed by this Fall and full operations in effect shortly thereafter.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.