SOURCE: ActionView Intrnational, Inc.

August 11, 2008 13:49 ET

ActionView International, Inc. Provides Update on Meetings Related to Jim Palmer Trucking Bankruptcy

Company Appointed to Chair Unsecured Creditors Committee

VANCOUVER, BC--(Marketwire - August 11, 2008) - ActionView International, Inc. (OTCBB: AVWI) today provided an update on creditors meetings that were held in regard to the Chapter 11 bankruptcy case of Jim Palmer Trucking, Inc. At the meetings held on August 8, 2008 and attended by ActionView International's legal counsel, ActionView was appointed chairman of the unsecured creditors committee due to its position as a significant creditor in the case.

As part of an anticipated acquisition, ActionView International provided a loan to Jim Palmer Trucking, Inc. in the amount of $250,000 on May 5, 2008. Several weeks later, Jim Palmer Trucking and two related equipment companies filed for Chapter 11 bankruptcy protection.

ActionView International management has expressed several issues of concern related to the bankruptcy filing, including its close proximity in time to Jim Palmer Trucking's acceptance of the loan from ActionView International.

"We are very pleased with the outcome of the meetings held on August 8th, particularly ActionView's position as chairman of the unsecured creditors committee," stated Steven R. Peacock, CEO of the company. "This position will provide the company a voice in the progress of the bankruptcy case and allows us the ability to obtain and receive all pertinent financial information and other records relating to the case. Our primary concern is the protection of the company's interests, and we will continue to provide updates on this matter whenever possible."

ActionView International recently announced that it is completing its initial due diligence on new acquisition candidates and expects to enter into a preliminary agreement with one company within the next several days. Management's focus has been to identify the acquisition candidate that possesses the best possible long-term value for the company's shareholders.

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