ActionView International Announces Merger, New Corporate Direction
(firmenpresse) - AUSTIN, TX -- (Marketwired) -- 10/22/13 -- ActionView International, Inc. (OTC Pink: AVEW) today announced that the company has signed a Letter of Intent to merged with Austex Holdings, Inc., a Texas-based company that operates a landscape and pool construction company headquartered in Austin, Texas. The company reported 2012 revenues of $1,979,967.00 and forecast 2013 revenues of $2,370,000.00. All other operations associated with ActionView were subsequently disposed or sold off. Austex Holdings has elected to be the successor issuer to ActionView for reporting purposes, which classifies this transaction as a reverse merger.
Austex Pools was established in 2010 to service the greater Austin area. Over the years, the company has been recognized with multiple international and regional design awards. In additional to pool design and construction, they offer full landscaping and monthly pool service plans. Austex has enjoyed the rapid growth and construction boom of central Texas. The Company intends to expand outside of the regional market while also pursuing a vertical integration strategy through the acquisition of service and construction companies that compliment Austex business.
Commenting on the transaction, Chief Executive Officer, Jose Chavez, explained, "While gold prices remain strong nationally, we felt that the business model of operating gold stores would be a secondary operation. There is heavy competition from both local and national players that drive the net margins lower. As a result, management felt that focusing our efforts on the service-based Austex Holdings, with their Austex Pools subsidiary represents the greatest potential for shareholder return."
Mr. Chavez, who will remain the Chief Executive Officer, also announced that ActionView is in the process of making the necessary filings to become a fully-reporting OTCBB-listed company.
ActionView International, through its wholly owned subsidiary, Austex Holdings, Inc., operates Austex Pools, a full service pool and landscape design and construction company.
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Datum: 22.10.2013 - 06:30 Uhr
Sprache: Deutsch
News-ID 1274760
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