APT MotoVox Group Inc. (MTVX)

[RockRoll]

http://ih.advfn.com/p.php?pid=nmona&article=63002277

Second Initiative – The sale of "non-revenue" producing assets

APT has accepted an offer for the sale of certain non-core corporate assets that do not produce revenue and are not vital to operations or the Company's long term business plan. The transaction is scheduled for closing in September 2014. The proceeds are targeted for the direct retirement of debt instead of selling equity, which will result in improvements to the Q3 balance sheet, cash flow and operating expenses. The asset sale will result in a nearly 40% reduction of debt on the balance sheet. In addition, the sale of these assets will significantly reduce operating expenses.