CLEARWATER, Fla., May 19, 2011 (GLOBE NEWSWIRE) -- As previously announced, ALAS (Pink Sheets:VDSC) has acquired in a stock only exchange, 100% of the shares and assets of SAENZ CORPORATION, a Delaware corporation, and its $20 million in assets.
SAENZ has offices in England, Greece and Turkey, operating successfully and profitable for 25 years in the Mediterranean area chartering their own fleet of yachts.
Peter Villiotis, CEO of SAENZ stated, "SAENZ and its competitors in the Mediterranean market have experienced a decrease in revenue from operations over the last few years primarily due to the economy and specifically due to the large number of charter operators in the Greek Islands. Our revenue from operations in 2009 was $4.357 million US dollars with $894,348 US dollars net profit and operating revenue in 2010 was $4.502 million US dollars with a net profit of $1,006,743 US dollars from operations. Although we have always maintained a profit, we expect to return to the higher revenue and profit we have experienced in the past by taking advantage of the market in the Caribbean and will reposition our yacht charter operations to Florida."
Edwin Salmon, ALAS CEO stated, "I continue to be impressed with the extensive knowledge and experience that Peter brings to ALAS."
About ALAS International Holdings, Inc.:
ALAS International Holdings, Inc., a Nevada corporation, is an international project financing and holding investment corporation, which owns and operates through its wholly owned subsidiary, Redtide Defense Group, Inc. ( http://www.redtidedefense.com/ ) which is a manufacturer of UAV (Unmanned Aerial Vehicles. The Company is looking to grow both organically and through strategic acquisitions.
Safe Harbor Act Disclaimer: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Investor Relations Edwin Salmon 727-736-4724 email@example.com