CLEARWATER, Fla., July 12, 2012 /PRNewswire/ -- Energy Quest, Inc. ("EQI") (OTCQB: EQST) announces its' wholly owned subsidiary, Quest Communications, has entered into a television production agreement with Suncoast REO Holdings, a major institution for the sale of real estate properties. Quest will produce and broadcast a bi-weekly LIVE TV Home Auction of homes across America starting September 15, 2012.
These properties will be sold using three auction marketing methods: via a live television broadcast auction, our Real Estate on Demand Channel and LIVE internet auctions at www.tvhomeauctions.com. It is estimated over 1,000 homes will be sold per year through our broadcast. The homes will be acquired through foreclosures and, in most cases, for amounts of $50,000 to $70,000. These "ready to move in" homes are totally refurbished with brand new appliances, Berber carpet, tile where necessary and fresh paint. ALL HOMES HAVE A CLEAN TITLE!!
The home auctions will include:
- On-line bidding website
- Live back end closing representatives
- Placement on broadcast cable, print & radio with promo spots
- Two Hour LIVE weekly auctions on broadcast cable and internet with live streaming…REACHING OVER 80 MILLION U.S. HOUSEHOLDS!!!
Suncoast REO Holdings, Inc. will pay TVHomeActions.com (Quest) a production cost of $95,000 per broadcast, plus a fee per household sold. Additional revenues will be generated from sponsors of the auction broadcast.
"This is an exciting time for our company and the auction is one of many new marketing opportunities," stated Ron Foster, President and CEO of Energy Quest. "I am looking forward to getting our first broadcast on the air and our auction web site completed in the near future." Foster added, "I believe in our strategy, in our plans to expand our reach, and to bring growth and increased revenues to the company."
TVHOMEAUCTIONS.COM will offer a "branded" home – Assured Home. Buyers will know and understand that an Assured Home indicates quality and consistency. The branded product will give buyers a comfort level in bidding. Executive Producer Vincent Vellardita will conduct live televised auctions, that are internet streamed, of branded single-family homes and vacant lots. The auctions will be carried on Dish Network, Direct TV, selected cable channels and on several network channels. It is anticipated that the broadcast will potentially have access to 75 million viewers. The principals of TVHOMEAUCTIONS.COM have considerable experience in selling single-family homes and vacant land via a televised home auction. In 2011, they sold 225 homes via televised auction at an average price of $64,980, with an average profit margin of $10,807. Most importantly, the homes were sold and closed in less than 40 days – 40 days from date of purchase to date of sale/closing. Generally, an auction buyer will close in less than 20 days.
About Quest Communications:
Quest Communications is actively engaged in the production and distribution of radio and television programming, home video, interactive media, music, marketing, contests, games, over the air auctions, special events, production and licensed merchandise. Quest Communications, Inc. a wholly owned subsidiary of Energy Quest, Inc. Web Site www.qstcom.com
EQI will still maintain its waste-to-energy division; while focusing strongly on building its new media division, Quest Communications.
About Energy Quest
Energy Quest, Inc. a Nevada Corporation, a waste to energy company in the development, construction and marketing of low-cost alternate power and fuels worldwide. Through superior technology, the Company is focused on becoming a Green Powerhouse(TM). Record energy prices, combined with the global focus moving rapidly towards addressing pollution, has heightened the need for sustainable, zero emission energy. Energy Quest's technology is based on clean, renewable energy, positioning it to benefit from global trends. Web-sites http://www.nrgqst.com/ & http://www.wavechem.com
From time to time, the company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such a statement.
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SOURCE Energy Quest, Inc.