SOURCE: EMTA Holdings, Inc.

September 09, 2008 13:46 ET

EMTA Holdings Provides Update on Collection of Outstanding Receivables

SCOTTSDALE, AZ--(Marketwire - September 9, 2008) - EMTA Holdings, Inc. (OTCBB: EMHD), an energy and fuel conservation company, and maker of XenTx™, Synergyn™, and other engine treatment and fuel efficiency products, provided an update today with respect to the Company's outstanding receivables, which total in excess of $2.0 million. These receivables consist of customer orders delivered during the second calendar quarter of 2008 (fiscal first quarter 2009), for both domestic and international customers.

A majority of these receivables are attributable to a single, international customer, which has been a repeat customer to the Company and has a solid track record of timely payment. The Company anticipates receipt of a significant first payment towards this customer's portion of the receivables this month (Sept-2008). The Company reaffirms its confidence to investors that the Company's receivables will always be collected in a timely manner, and that it intends to inform shareholders upon the receipt of payment from this particular internationally-based customer.

EMHD Holdings anticipates significant growth in its business activities moving forward, as orders from existing customers, as well as new customers, continue to increase in frequency. The Company also plans to send representatives to Nigeria later this month (Sept-2008) to meet with one of the Company's largest customers to discuss how the two can improve on product deliveries, the payment process, and the overall efficiency of future orders.

EMTA Holdings' CEO, Edmond Lonergan, commented: "The collection of our current outstanding receivables is essential to fund our future growth. Therefore management will continue to place focus and attention on this matter. The Company is confident that these receivables will be collected in full and in a timely manner. Our repeat, loyal customers all have a strong track record of timely payments, and to date, we have never had a single default."

About EMTA Holdings:

EMTA Holdings, Inc., (OTCBB: EMHD) develops and manufactures innovative products to conserve energy, particularly for petroleum-based fuels. The Company's engine and fuel additives are marketed under the brands XenTx™, Synergyn™ and CleanBoost™ brands, and are sold both to commercial and retail customers. They are available from key distributors, major automotive retailers and online at http://www.emtacorp.com/store. For additional information on EMTA products, please visit http://www.xentx.com.

Forward-Looking Statements: This press release discusses certain matters that may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the intent, belief or current expectations of EMTA Corp. ("the Company") and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results such as, but not limited to: the ability of the Company to raise necessary capital; to attract and retain effective management; the lack of viable commercial applications or the failure of third-party contractors to perform their contractual obligations. Prospective investors are also referred to the other risks identified from time to time in the Company's reports and registration statement filed with the Securities and Exchange Commission.

Contact Information

  • CONTACT:

    Larry Downs
    Director of Communications
    Equiti-trend Advisors
    800-585-6988
    Email Contact

    or

    Paula C. Wright
    VP IR/PR/Media
    EMTA Holdings, Inc.
    480-222-6222
    Email Contact