Action Products International, Inc. Year End Corporate Update
NEW YORK, Dec. 30, 2011 /PRNewswire/ -- Action Products International, Inc. (OTC Pink: APII) is pleased to provide this end of year corporate update.
Action Products is providing this summary of our company and takes a look back at progress for the year as well as providing an update on events to come in 2012.
Looking back at the company when we were first incorporated, 1977, we started out as a distributer of education oriented toys. Thirty four years later Action Products International, Inc. has become a successful holding company engaged in the acquisition and consolidation of selected companies with strong growth prospects. These companies will have a focus in cloud services and 'future tech' computing verticals.
APII restructured itself through an acquisition and Letters of Intent with companies identified through a partnership with The Bull Consulting Group in 2011. The Bull Consulting Group plays a major part in helping APII restructure its vision, management, and investors' outlook towards the company. Since then, we have managed to develop international business opportunities with Bangladesh delegates, which Aziz Ahmad made possible. APII has built a strong Board of Directors which includes, Gary Polistena, Aziz Ahmad, Martin Jensen, Greg Miller, and Yonghun Kim. Our Corporate offers are Gary Polistena, CEO and Teresa McWilliams, CFO.
In 2011, we removed the STOP sign from OTCMarkets and are working towards becoming fully disclosed in early 2012. Once we are a fully audited and a reporting entity, our goals are to complete paperwork for listing on the OTCBB or higher exchanges.
Teresa McWilliams, CFO for APII states, "With the official closing of the NEEL transaction, we are moving forward to restate our financial statement for Q3, 2011. At the same time, we are closing out the year and preparing our year-end financial statement. We are planning for an audit of our financials so that we can obtain listing on the OTCBB. I'm working to build a strong base of processes to ensure that, as we grow, we continue to maintain and provide an accurate financial picture to all of our investors. We're moving beyond and have settled most of the financial issues remaining not already resolved by The Bull Consulting from the past company structure and I'm looking forward to an exciting 2012."
At the end of the year we finalized our first corporate acquisition of North East Expedite Logistics (NEEL). This new acquisition will improve our cash flow and overall fixed asset position. NEEL provides transportation and logistics for customers such as USPS, Amazon.com, The Washington Post and Newark Star Ledger. By optimizing business processes and reinvesting in the business, we expect NEEL to far surpass 2011 sales in fiscal 2012. We expect 2012 to be a positive growth year and see gross revenues surpassing two million dollars.
"As I look back on 2011", states Gary Polistena, "I am very pleased with all that we have accomplished and how far we have progressed in solidifying the foundation of our new direction. Our board has worked very hard in 2011 to introduce acquisition opportunities, international ties, and has built relationships with many in the industry to enable our future success. Our Management and Board of Directors has the skill and knowledge to move this company forward in very exciting ways. I know that 2012 will be a break-thru year for our company. In closing, I want to especially thank our investors for the ongoing support thru the restructuring of Action Products. We are all working to deliver the best value and profits for shareholders and 2012 will be a great year."
The new year brings new opportunities, so keep watching for press releases or other company updates starting next week.
About Action Products International, Inc.
Action Products International, Inc. (OTC Pink: APII.PK) is a holding company engaged in the acquisition and consolidation of selected companies with strong growth prospects, focused in the cloud services, quality, and 'future tech' computing verticals. APII seeks to bring together companies that deliver complementary technology and services in software applications, social media and cloud computing infrastructure.
Action Products International, Inc.
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Safe Harbor Statement
This press release contains forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as its future results of operations and financial condition. Such risks include, but are not limited to, the effects of competition with existing enterprises and/or new entrants into the company's markets and industries, fluctuations in currency exchange rates, domestic and global economic conditions generally, the company's ability to obtain financing and attract suitable personnel where required to fully implement its business plan, the adoption and acceptance by the marketplace of the company's technologies and product and service offerings, the possibility of new technologies that are competitive with the company's planned product and service offerings and the effects of future political and economic developments both in the United States and abroad, among others. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of information, future events or otherwise.
SOURCE Action Products International, Inc.
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