CEO and President of All American Pet Company, Inc. Take Pay Cuts
LOS ANGELES, CA -- (Marketwired) -- 09/11/13 -- All American Pet
Company, Inc. (OTCQB: AAPT) All American Pet Company, Inc. CEO Barry
Schwartz and President Lisa Bershan have elected to take a 50% cut in
salaries and defer bonus monies until the company is profitable. A
team of business advisors is joining the company to assist AAPT
management achieve expected sales and growth goals.
Barry Schwartz, CEO, stated, "An unanticipated failure of a crucial
piece of production line equipment significantly limited the
company's ability to adequately fulfill retail purchase orders. The
reduction of salary is management's responsibility for the poor sales
as stated in its last filing. The defective unit has since been
replaced. The new unit has been tested and put into active production
fulfilling all current client business and will meet any demand
presented by forthcoming client purchase orders."
All American Pet Company produces, markets, and sells wellness
products under proprietary brand names specifically for dogs.
This news announcement contains or may contain certain
"forward-looking statements" that are subject to significant risks
and uncertainties, including those detailed in filings made by All
American Pet Company, Inc. with the Securities and Exchange
Commission. We assume no obligation or undertaking to update any
forward-looking statements to reflect any changes in expectations
with regard thereto or any change in events, conditions or
circumstances on which any such statement is based. You should,
however, review additional risk factors and other disclosures we make
in the reports filed with the Securities and Exchange Commission.
All American Pet Company, Inc.
Corporate Office: 310-689-7355
Investor Relations: 310-689-7357
Press spacebar to pause and continue. Press esc to stop.