HONOLULU, March 2, 2004 (PRIMEZONE) -- American Hospital Resources, Inc., (OTCBB:AMHR) (Berlin WKN 913541), announces that its board of directors agreed to a settlement that stipulated the cancellation of 11,796,873 shares of the Company's common stock or common stock equivalents to treasury. The Company has also canceled 75,000 employee options. This completes the second step of necessary housekeeping to restructure the Company and facilitate the implementation of its business model.
American Hospital Resources, Inc. specializes in the acquisition and consolidation of pharmacy outsourcing businesses. AMHR plans to acquire and consolidate pharmacy operations in several regions of the country with a plan to gain labor efficiencies as well as increase its pharmaceutical buying power and enhance its pricing and purchasing terms with the pharmaceutical supply houses.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risk and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the Company's revenues, operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.