SOURCE: Gold River Productions

October 15, 2010 00:01 ET

Gold River Productions Inc. (GRPS) Announces Its Corporate Funding Strategy

SALT LAKE CITY, UT--(Marketwire - October 15, 2010) -  John Ohlin, President and Chief Executive Officer of Gold River Productions (PINKSHEETS: GRPS) Inc. reported today "that as previously reported the funding of the Company is a three tier process." "The Company's technology has been funded up to now by the principal owners who have invested approximately $3,000,000 of their own money into its development over the past 10-12 years," Mr. Ohlin stated. "Additional shareholders were brought in to finalize the share exchange between AeroQuest Technologies and Gold River Productions as well to get Gold River Productions into a current position with the OTC-PINK SHEETS," Mr. Ohlin said.

"The second tier allows us to complete all of the legal and accounting work required to move off of the OTC-PINK SHEETS and file additional patents," he said. "Finally, it is our plan that once we move off of the OTC-PINK SHEETS we will conclude the third tier of funding that will allow us to complete the purchase of our manufacturing equipment and begin revenue generating operations," he reported.

"The bulk of our funding strategy is equity based and will allow us to begin operations with little or no debt," Mr. Ohlin said. "While it is true that we will issue more of our authorized shares to complete the funding, we have no plans to complete a reverse stock split," he said. "Our emphasis will always be on share value and once operational we are forecasting third year gross sales of $56 million with an EBITDA of $7 million. This will be a very nice ROI for investors who have an eye for long term value," Mr. Ohlin stated.

For complete information on the Company please go to our web site www.atpanels.com.

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
    President/CEO
    801-523-2744