ActionView International Announces Change in Control, New Corporate Direction
AUSTIN, Texas, March 25, 2013 /PRNewswire/ -- ActionView International, Inc. (OTCPink: AVEW) today announced that the holders of the company's Series A Preferred Stock have sold their interest to Jose Chavez, who was named as Chief Executive Officer. The Company also announced that ActionView will be doing business as Austin Estate Buyer.
Austin Estate Buyer operates a retail gold exchange outlet in Texas with plans to expand with additional locations in the coming twelve months. Mr. Chavez commented on the transaction, "I'm thrilled to come aboard ActionView and build shareholder value by expanding the proven gold exchange model. This gives us a huge opportunity to expand our model, with a twelve month goal of opening additional stores."
The Company also announced that it will discontinue its action sports operations and spin off the MatchFights subsidiary. Mr. Chavez explained, "While the online action sports space is attractive, it has thus far proven to be cost prohibitive. MatchFights has staged over a dozen events with limited financial success and the Internet pay-per-view model has failed to generate sufficient revenues. From a shareholder standpoint, we feel unable to justify further investment into a business that would require a substantial additional capital with an unknown outcome. Austin Estate Buyer is a proven, cash flow-generating business which, in our opinion, can bring immediate returns on investment."
The Company will be providing additional information about Austin Estate Buyer, including operational details, in the coming weeks. Please visit us at www.austinestatebuyer.com
About ActionView International, Inc.
ActionView International will be doing business as Austin Estate Buyer which operates retail gold exchange stores in Austin, Texas. www.austinestatebuyer.com
ActionView International, Inc.
SOURCE ActionView International, Inc.