AUSTIN, TX / ACCESSWIRE / November 6, 2014 / AVEW Holdings Inc. (OTC Pink: AVEW) (PINKSHEETS: AVEW) today announced the company reported its third quarter financial status to OTC Markets. The financial condition of AVEW has improved by 335% in Balance Sheet Equity from $98,316 to $329,832 and a cash position from $(26) to $ 62,223 at the end of third quarter 2014 compared to December year-end 2013 financials. In addition, there has been a reduction of over $120,000 in debt since year-end 2013. Not shown in the financial statement is a significant new contract pipeline in new pools and outdoor living construction. Austin Premier Pools and Spas currently has $408,000 in contracts pending financing approval and $528,500 in additional contracts while Austin Patio & Outdoor Living has $350,000 in contracts pending financing and an additional $115,000 in new contracts.
Other noteworthy accomplishments have been the completion of three acquisitions; two major equipment dealerships; equipment partnership with Pentair Aquatic Systems; hired two new managers and a Director of Sales; four definitive agreements to acquire a pool company, a nursery/landscaping contractor, a fence and construction company and a custom home builder; formed four new divisions to accommodate and support custom builders, and executed two financing agreements with Capital Market Groups totaling 10 million dollars in committed financing.
Mr. Jose Chavez, CEO of AVEW, commented, "We have come a long way from the initial Action View International Inc business format and financial position. Our management team has done an outstanding job in executing AVEW'S New Business Model." With the finalization of a few of the Definitive Agreements plus successful completion of work pipeline, AVEW stands to surpass the projected year end revenues of $5,000,000. Mr. Jay Ling President of AVEW stated "AVEW'S current business overview clearly demonstrates that AVEW is poised not only to be a profitable and successful business, but also will surpass the management projected revenues forecast for 2014, 2015, and beyond."
AVEW HOLDINGS is a full service pool, spa and landscape design and construction company. Austin Premier Pools & Spas is a custom pool design and construction company that has won national and regional pool construction and design awards. Fantastic Pool Services is a maintenance and pool repair company doing business in central Texas. Austin Patio & Outdoor Living is a new and residential remodel Construction Company servicing central Texas. Austin Patio also designs and installs landscaping and outdoor living kitchens, fireplaces, cabanas, and decks. Kustom Fence and Construction Company is a custom fence designer and builder serving the Hill Country.
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AVEW cautions that statements made in press releases constitute forward-looking statements, and make no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
CONTACT:
AVEW Holdings, Inc.
Shareholder Relations
S.T.A.T Group
Craig Fischer
Communications Manager
786-375-0556
[email protected]
512-436-9496
SOURCE: AVEW Holdings, Inc.