CEO and President of All American Pet Company, Inc. Take Pay Cuts
(firmenpresse) - LOS ANGELES, CA -- (Marketwired) -- 09/11/13 -- (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 "" 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
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Datum: 11.09.2013 - 01:01 Uhr
Sprache: Deutsch
News-ID 1262333
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Retailers
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