SOURCE: ActionView International, Inc.

July 15, 2008 11:04 ET

ActionView International, Inc. Comments Further on Status of Planned Acquisition Transaction

New Acquisition Candidates Targeted

VANCOUVER, BC--(Marketwire - July 15, 2008) - ActionView International, Inc. (OTCBB: AVWI) today issued further comment regarding the recent filing of Chapter 11 bankruptcy protection by Jim Palmer Equipment, Inc. and Jim Palmer Equipment II, LLC, entities related to Jim Palmer Trucking, Inc., with which ActionView had entered into a letter of intent for an acquisition transaction. As part of the anticipated acquisition, ActionView International provided a loan in the amount of $250,000 to Jim Palmer Trucking, Inc. on May 5, 2008.

On May 12, 2008, ActionView announced a letter of intent to acquire Jim Palmer Trucking to become the focus of operations for the public company.

Chapter 11 bankruptcy cases were filed on behalf of Jim Palmer Equipment, Inc. and Jim Palmer Equipment II, LLC in the United States Bankruptcy Court, District of Montana on July 10, 2008. It has been reported that a Chapter 11 bankruptcy case, which permits reorganization of the companies' contractual and debt obligations under the bankruptcy laws of the United States, will be filed on behalf of Jim Palmer Trucking, Inc. as well.

"We were extremely surprised when these bankruptcy cases were filed so soon after the acceptance of the financing that we provided to Jim Palmer Trucking," stated ActionView International CEO Steven R. Peacock. "We are in the process of investigating any and all potential remedies that will protect ActionView International and its shareholders in this matter.

"On a much more positive note, even as we pursue compensation for our financial commitment to Jim Palmer Trucking, we have already identified several potential acquisition candidates for ActionView, and we expect to target a specific company in the very near future. This has been the company's top priority, and we will continue to pursue the best possible acquisition candidate for ActionView shareholders," Mr. Peacock added.

About ActionView International, Inc.

ActionView International's operating subsidiary custom-designs, develops, and manufactures vividly illuminated motion billboards. ActionView places its signs into high traffic locations and markets advertising space on the signs. ActionView shares advertising revenue generated from the billboards with advertising agencies, the local business partner and the location owner. The benefit to advertisers is exposure in high traffic locations at reasonable costs due to the scrolling feature and multiple advertisers. For additional information about ActionView, please visit the company's website at www.actionviewinternational.com.

Forward-Looking Statements

This release contains 'forward-looking statements' within the meaning of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements.' Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.

Contact Information

  • Contact:
    Gemini Financial Communications
    A. Beyer
    951-677-8073
    Email Contact