SOURCE: Media Holdings International

August 04, 2008 09:07 ET

Media Holdings International Inc. Restructures & Acquires AeroQuest Technologies Inc. in Share Exchange

SALT LAKE CITY, UT--(Marketwire - August 4, 2008) - Media Holdings International Inc. (PINKSHEETS: MDHG) -- AeroQuest Technologies Inc. is a dynamic new company that has been developing and refining its technology over the last twelve years. The controlling shareholders have a combined personal investment over $1.8 million in AeroQuest and in addition, have generated an additional $600,000 in prototype development from the recreation vehicle and over-the-road tractor & trailer industries.

AeroQuest Technologies won the 2007 Utah Innovation Award for Outstanding New Technology in the Chemical/Materials Category of the awards. The technology consists of combining fiber reinforced polypropylene composite materials with the company's "Chassis-less Transportation Vehicle" patent to produce a wide variety of lightweight (30%-50% lighter) transportation products (utility trailers, truck bodies, recreation vehicles, horse trailers, delivery vans etc.) to be marketed to an industry that is estimated at $3.0 billion annually. AeroQuest's products are redefining the market for lightweight transportation vehicles with our award winning technology, ensuring greater performance than anything in today's market.

In an exchange of shares, on February 15, 2008, Media Holdings International Inc. issued 60,000,000 shares of its common stock for 100% of the common stock of AeroQuest Technologies Inc. of Salt Lake City, Utah. As a result of the share exchange the shareholders of AeroQuest Technologies, John Ohlin, President/CEO, and Bruce Romesburg, Vice President - Technology, each of whom owns 30,000,000 shares, become the President/CEO and Vice President of Media Holdings, respectively, and are the controlling shareholders.

Additionally, on March 19, 2008, NASD approved the previously announced 1 for 1,000 reverse stock split prior to the issuance of new shares as referenced above. Current shares outstanding total 75,062,981 and the public float is 15,062,981 shares spread among 203 shareholders. A Form 211 has been filed with FINRA on April 15, 2008.

For complete information on the Company including financial information please go to our web site.

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.

Contact Information

  • Contacts:
    David Lehmberg
    Investor Relations

    Jack Halperin
    Sec. & Corporate Securities Attorney