February 26, 2008 at 10:35 AM EST
The Americas Learning Centers, Inc. Announces Spin-Off of ASAP Athletics, Inc.
BOCA RATON, FL -- (MARKET WIRE) -- 02/26/08 -- The Americas Learning Centers, Inc. (the "Company"), (PINKSHEETS: ALRN) today announced that its Board of Directors has approved a plan to spin-off its subsidiary, ASAP Athletics, Inc., ("ASAP") Boca Raton, Florida, by April 1, 2008. ALRN shareholders of record on the date of completion of the spin-off, which is to be announced, will receive shares of common stock in ASAP as a dividend. Following completion of the spin-off, ASAP Athletics will be a private, independent company. The formula for the number of shares to be issued as a dividend will be announced prior to April 1.
About The Americas Learning Centers, Inc.
The Americas Learning Centers, Inc. offers training programs for both the mind and body of teenagers and young adults. Historically it has offered SAT-ACT test preparation for high school students and earlier this year expanded into test preparation books, software and online courses for the SAT, LSAT, GMAT, GRE and the MCAT graduate level tests.
Last year, the Company entered the Youth Sports Training Market with the acquisition of BSA Athletics, Inc., and ASAP Athletics, Inc., and opened a 5000 square foot fitness facility in Boca Raton. In addition, ASAP Athletics in September '07 introduced a proprietary "gym-on-wheels" for the remote training of athletes in team and league sports in order to improve each athlete's speed, agility and strength.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
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