BOISE, Idaho, Dec. 15, 2010 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI)() today announced that the U.S. Securities and Exchange Commission ("SEC"), on December 14, 2010, issued an order to temporarily suspend trading of the company's common stock because of questions that have been raised about the accuracy of certain publicly disseminated information regarding the company. The suspension was effective at 9:30 a.m. EST on December 14, 2010, and terminates at 11:59 p.m. EST on December 28, 2010.
"The SEC has notified AEHI that the inquiry should not be construed as an indication by the SEC that any violations of law have occurred. We plan to fully cooperate with the SEC and to address the concerns that they have raised," said Don Gillispie, AEHI CEO.
The SEC has not notified AEHI whether the temporary suspension was prompted by the submission of any specific complaints. However, local anti-nuclear groups and certain vocal opponents of AEHI have taken responsibility for this action in press releases, online forums and financial blogs.
AEHI will now work closely with the SEC to resolve any questions the agency may have in an effort to remove the temporary suspension as soon as possible.
About Alternate Energy Holdings, Inc. () -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (), Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.
The Alternate Energy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8058
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.
CONTACT: Wolfe Axelrod Weinberger Associates, LLC. Investor Relations Firm: Stephen D. Axelrod, CFA 212-370-4500 steve@wolfeaxelrod.com 317 Madison Avenue, Suite 515 New York, NY 10017 Alternate Energy Holdings, Inc. Media: Dan Hamilton, Director of Corporate Communications (208) 939-9311 dan@aehipower.com