FastForests, Inc. Opens With $20,000,000 Tax-Free Revenue
January 04 2005 - 8:28AM
PR Newswire (US)
FastForests, Inc. Opens With $20,000,000 Tax-Free Revenue BOCA
RATON, Fla., Jan. 4 /PRNewswire-FirstCall/ -- FastForests, Inc.
(OTC:FSFR), which owns the worldwide rights to the SupaTree that
grows 30 to 35 feet the first 12 months and is fully grown in 9
years and when cut down for lumber, the stump is not pulled out as
new growth comes out of the stump to replenish the same tree for
faster growth, has completed the acquisition of a 29 percent
holding in Advanced Funds Management (Holdings) Ltd. (AFM(H)L), a
Venture Capital Group in Queensland, Australia. Visit:
http://www.fastforestsinc.com/ . AFM(H)L was formed in April 2003
and has invested A$2.5 million in the establishment of a Venture
Capital Company and a registration under the Pooled Development Act
of 1992. The company is able to take advantage of liberal tax
concessions in returns on investments made in Australian companies.
AFM(H)L has invested in two ongoing operations: Index, a
self-storage facility on the outskirts of Brisbane, and Independent
Liquor Group (Queensland) Pty. Ltd. (ILG(Q)), which is a beer, wine
and spirits wholesaler. Plans exist for these companies to expand
through organic development in growth markets and through
acquisitions. Visit: http://www.fastforestsinc.com/ . FastForests
Ltd. (Australian licensee) has several projects to introduce to
this new Australian Group. Most importantly it will exercise its
Australian and New Zealand exclusive license for the marketing of
the SupaTree, a fast growth hardwood timber. Two projects ready to
start involve development of a plantation in New Zealand and a
second in the Northern Rivers region of New South Wales, Australia.
The New Zealand investment will qualify for the tax concessions
under the PDF Act, after making the required submission, due to the
existence of a common economic community between Australia and New
Zealand. A further significant addition to the group will be a 49
percent share in Statewide Admin Support Services Pty. Ltd. (SAS).
Visit http://www.sasnetwork.com.au/. This company, a recognized
leader in Australia, specializes in insolvency and business
restructuring. SAS operates in a strong growth market and will
expand both the number of locations through organic growth in
established markets. This investment will return to FastForests,
Inc. $20 million in revenues tax-free. Contact: FastForests, Inc.
George McMillan U.S.: 561-620-4949 Australia: 617-5570-4500 This
release was issued through eReleases(TM). For more information,
visit http://www.ereleases.com/. DATASOURCE: FastForests, Inc.
CONTACT: George McMillan, FastForests, Inc., U.S.: +1-561-620-4949,
Australia: 617-5570-4500, Web site: http://www.sasnetwork.com.au/
Web site: http://www.fastforestsinc.com/
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