SOURCE: Steven G. Trapp & Company

August 27, 2007 09:15 ET

Steven G. Trapp of Steven G. Trapp & Company Has Increased His Stake to 55.51% of the Issued and Outstanding Common Shares of Far East Ventures, Inc.

LAS VEGAS, NV--(Marketwire - August 27, 2007) - Steven G. Trapp of Steven G. Trapp & Company has increased his stake to 55.51% of the issued and outstanding common shares of Far East Ventures, Inc. a/k/a Nico Telecom, Inc. (PINKSHEETS: NICO).

The common shares were acquired pursuant to a court order that cancelled and reissued all of the holdings of the defendants in Steven G. Trapp vs. Michael S. Fletcher et. al Clark County District Court Case No. 06-A-532786-C.

"The acquisition of the common shares brings me to my goal of acquiring or controlling 55% outstanding common shares and being able to bring all of NICO's filings current," commented Steven G. Trapp, President of Steven G. Trapp & Company.

"As state previously, once the filings are brought current Far East will look to acquire an operating company that can generate a beginning return on common equity of 20% or better for its shareholders. The following companies were acquired via reverse acquisitions: Billabong International Ltd., traded OTC, TZOO, Inc., listed on the Nasdaq GS, China Automotive, Inc., listed on the Nasdaq CM & Yasheng Group Ltd., traded OTC," stated Steven G. Trapp, President of Steven G. Trapp & Company.

Sappi Ltd., listed on the NYSE, traded on the OTC BB as a non-reporting ADR during the mid-late 90s before becoming fully reporting and listing its shares on the New York Stock Exchange.

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