Bio-Friendly Corporation Issues Statement Regarding American Technologies Group Dec 21, 2000 - Business Wire

MONROVIA, Calif.--(BUSINESS WIRE)--Dec. 21, 2000-- American Technologies Group Fails to Post $50,000 Bond

Bio-Friendly Corporation's corporate counsel, Michael Stoller, today issued the following statement:

"After checking with the court, records reveal that American Technologies Group Inc. (ATG) -- (OTC:ATEG) failed to meet the December 14, 2000, deadline imposed by the Judge to post a $50,000 bond with the preliminary injunction. Since ATG could not come up with the bond, there are no restrictions on Bio-Friendly to use its trade name Might-Tron(TM). ATG has now lost every claim on which they were attempting to obtain a Temporary Restraining Order against Bio- Friendly Corporation," said Stoller.

"Bio-Friendly Corporation has now begun counter-claims against ATG for its frivolous lawsuit. Certain creditors and other claimants are considering legal action against ATG including filing for a petition for involuntary bankruptcy," Stoller said. Peacock Financial Corp. is a shareholder of privately held Bio-Friendly Corp.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to delays in testing and evaluation, completion of the clinical trials, positive results of the clinical trials, government approval, market acceptance of new technologies or products and other risks.

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