SOURCE: Haz Holdings, Inc.

August 21, 2007 09:09 ET

HAZ Holdings, Inc. Retains Javelin Advisory Group to Initiate Compliance and Financial Reporting Efforts

FEDERAL WAY, WA--(Marketwire - August 21, 2007) - HAZ Holdings, Inc. (PINKSHEETS: HAZH), which manages a portfolio of full-service hotels, today announced that it has hired Javelin Advisory Group, a business consulting firm, to initiate efforts to bring the Company current with its financial filings and achieve fully reporting status.

Javelin Advisory Group provides a number of vital services to public companies, including financial reporting and SEC compliance, the identification and execution of mergers and acquisitions, public company management consulting, and advisory services regarding capital formation and financing.

HAZ Holdings recently stated its intention to begin the process of filing all past financial statements so the Company can be properly positioned in the public markets.

"We are pleased to have retained Javelin Advisory Group as part of our efforts to complete all of the Company's financial statements and achieve fully reporting status," stated HAZ Holdings CEO Dr. Karim Bhanji. "While the growth of our hotel ownership portfolio will continue to be the primary focus of the Company's operations, bringing our quarterly and year-end financial reports up to date will be another ongoing initiative to improve the Company's position in the public markets.

"Fully reporting status will allow HAZ Holdings to begin evaluating the efficacy of a listing in an appropriate market and continued growth of our hotel ownership portfolio will play an important role in determining which market will be most appropriate for the Company," added Dr. Bhanji.

Steven R. Peacock, managing partner of Javelin Advisory Group, commented, "We see tremendous potential for HAZ Holdings in the public markets, and we look forward to the opportunity to work with Dr. Bhanji to bring the Company current with its financial reporting. Fully reporting status is an important first step for HAZ Holdings as it works to build long-term value for its shareholders, and we hope that this initial agreement will lead to a long and successful association between our two companies."

About HAZ Holdings, Inc.

HAZ Holdings owns and manages three mid-scale, full-service hotels in the United States and Canada, under the brand names "Hotel Monarchy & Suites" and "Monarchy Inn & Suites" (www.hazhotels.com). HAZ Holdings' five-year business plan is to increase its hotel ownership portfolio by acquiring hotel properties that range in size from 100-300 rooms per property, while concurrently franchising additional hotels under its brand names. The Company's portfolio also includes the following wholly owned subsidiaries: Mortgage and Financial Institute, LLC (www.mfibanking.com), a mortgage brokerage company specializing in commercial and residential lending in Washington and Alaska; Nationwide Hotel Management, LLC, a hotel management company; KB Realty Group International LLC, a commercial and residential real estate sales company; Evergreen Sound Construction, LLC, a commercial and residential development company; and DoTravelDeals (www.dotraveldeals.com), a global travel booking engine.

This press release may contain "forward-looking statements." Although we believe that the expectations reflected in any forward-looking statements are reasonable, HAZ Holdings cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which HAZ Holdings bases its predictions and/or forward-looking statements could materially affect its actual results.

Contact Information

  • CONTACT:
    Media & Investor Relations
    Joseph J. Malone
    786-375-0556