ActionView International Announces Merger, New Corporate Direction
October 22 2013 - 8:30AM
Marketwired
ActionView International Announces Merger, New Corporate Direction
AUSTIN, TX--(Marketwired - Oct 22, 2013) - 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.
About ActionView International, Inc.
ActionView International, through its wholly owned subsidiary,
Austex Holdings, Inc., operates Austex Pools, a full service pool
and landscape design and construction company.
ActionView Media, contact: Shareholder Relations
investors@actionviewint.com
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