SOURCE: Gold River Productions, Inc.

May 20, 2011 09:15 ET

Gold River Productions Inc. Announced Today That It Has Filled Another Key Managerial/Sales Position

SALT LAKE CITY, UT--(Marketwire - May 20, 2011) - John Ohlin, President and Chief Executive Officer of Gold River Productions (PINKSHEETS: GRPS) Inc. announced today the hiring of an experienced V.P. of Sales for the patent pending World Home. The V.P., "whose name we are not making public at this time, has vast experience as both a general contractor and in the construction of homes made from a variety of composite materials. In his current position, he has been responsible for both national and international sales and will bring immediate introductions to potential customers within our borders as well as with a dozen foreign countries. Our patent pending World Home 'is vastly superior to any similar type of product I have ever seen,' he told me," Mr. Ohlin stated.

With this new and important addition in place we are now well under way to the realization of our strategic business plan as we prepare to start sales activities of the World Home and the P.V. Solar Roof. We feel this individual is the perfect fit at this critical time and represents a positive step forward in achieving both our long and short term goals as well as increasing shareholder value.

The three products we will initially concentrate on are our One-Piece Pontoon boat decks, our P.V. Solar Roof and the "World Home" prefabricated, earthquake resistant home. Once operational and assuming two shifts per day we would be capable of producing up to four hundred, 700 sq. ft. World Homes per month which can be erected at a customer's desired location in under 3 days, representing the most viable alternative available for any potential customer. At a cost of approximately $21,000 per erected home at maximum production, the potential monthly revenue would exceed $14,700,000, an annualized $176,000,000.

Our second priority revenue stream comes from our Pontoon Boat Decking application. Recently one of the largest Pontoon boat manufacturers located in the U.S. expressed an interest in using our patent pending composite decks on all of their newly constructed Pontoon boats. They were sent a proto-type all-composite deck sample to test. After they had completed a series of rigorous testing on the One-Piece deck, they reported that they were "extremely pleased with the durability, stiffness, flexibility and the ease of installation." The weight savings of 70% was as they put it, "icing on the cake." They produce approximately 40,000 new Pontoon boats per year. The realization of just this one contract would require 7,000,000 sq. ft. of decks per year, each deck being an average of 180 sq. ft. at a cost of $4.00 per sq. ft. calculates to over $28,000,000 in revenue for AeroQuest each year.

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Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions 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 financing and other risks.

Contact Information

  • Contact:
    Mr. John Ohlin