Avalon Capital Holdings (fka AVLC)

[joelegs]

As a late reply:

Last update: 9/17/2008 10:58:01 AMLOS ANGELES, Sep 17, 2008 (BUSINESS WIRE) -- Avalon Capital Holdings Corporation (AVAL), and its wholly owned subsidiary, Traders Development LLC, announced today that its board of directors and the majority of its shareholders just approved a 1 for 20 reverse split of its stock to be effective October 3, 2008. Avalon is effecting this reverse in connection with its upcoming financing efforts. The Company has recently engaged Kingsdale Capital International Inc. to act as its placement agent in connection with its upcoming capital raise. Mitchell Eaglstein, Avalon's Chief Operating Officer stated, "By having a more manageable capitalization, we are more attractive from a market perspective, which should ultimately benefit our shareholders positively"