AVEW Holdings Inc. Accomplishes Significant Reduction in Company Long Convertible Notes
AUSTIN, TX--(Marketwired - Dec 23, 2014) - AVEW HOLDINGS INC. (OTC PINK: AVEW) today announced that the company has made a significant reduction in long-term convertible notes in the last financial quarter by $120 thousand dollars. This reduction will be noted in AVEW's year-end financials.
These long-term convertible notes were originated in 2011 through 2012. The long-term convertible notes were exercised in common stock conversion as optioned by the note holders.
AVEWs current Management took control of the company in February of 2013. Since then AVEW Holdings has gone from a precious metals company to a specialty construction business. The current business model of specialty construction has been very successful and has significantly changed the outlook for AVEW Holdings. AVEW has successfully acquired five specialty construction companies, created three new construction divisions, and brought in five experienced and proven managers. Currently AVEW is working on a substantial work backlog of over $2 million dollars and has agreement to purchase and develop two new real estate development projects in value of well over $30 million dollars. The real estate development projects are scheduled for completion over the next 30 months. Other projects by the newly acquired custom home builder, Tarragon Homes LLC, will be finalized in early 2015.
Mr. James Ling, President, indicated, "AVEW has built a solid foundation in its management and family of companies. AVEW has accomplished this task in a short ten-month period."
AVEW has other noteworthy accomplishments with aggressive marketing efforts leveraging websites, social media and high-end magazine advertisements. Mr. Eric Davis, Director of Advertising and Marketing, has been instrumental in advertising, market research and revamping AVEW's sales and marketing.
AVEW has also reached out to external financing structures for the real estate development division and is considering numerous financing proposals.
Jose Chavez, CEO, commented, "AVEW in 2015 and beyond will emerge as a unique business and a successful public Specialty Construction Company."
About AVEW Holdings Inc.
AVEW Holding Inc. is a collection of companies in different disciplines operating under a publicly held AVEW HOLDINGS. This gives strength and integrity to each division to weather recessions, downturns in the economy, etc. The companies of AVEW combined have a wealth of knowledge and experience along with the opportunity to consult with one another to share ideas and get input from other divisions.
AVEW HOLDINGS includes 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 Remodel & Outdoor Living is a residential remodel and new Construction Company servicing Central Texas. Austin Remodel & Outdoor 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. Tarragon Homes is a full custom home building and development company. AVEW Development Company (TBF) will be involved in commercial mixed-use development.
Safe Harbor Statement:
AVEW cautions that statements made in press releases constitute forward-looking statements, and makes 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.
AVEW HOLDINGS INC.
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