American Water Star Inc. has announced that it knows of no reason that would account for the recent decline in its share price and spike in trading volume.

"The company is extremely pleased with the direction that it is heading," said Roger Mohlman, CEO of American Water Star Inc., in a statement. "The company will provide guidance for 2005 in the next 2-3 weeks."

In August the Las Vegas-based beverage bottler said that it had commenced operations at three bottling facilities in Jacksonville, Florida, Magnolia, Mississippi, and Phoenix, Arizona. The company intends to open a new facility in Honolulu early next year.