CLEVELAND, Ga., April 10, 2007 (PRIME NEWSWIRE) -- PTA Holdings, Inc. (Pink Sheets:PTAH) (the "Company") announced today that it has acquired ProFlow, Inc., a Georgia based multi-location Automotive Service Center that specializes in the repair and maintenance of domestic, foreign and diesel cars. The Company issued two million shares of restricted common stock in connection with the transaction. PTA Holdings, Inc. is a publicly traded holding company value investor that is primarily engaged in the travel industry, real estate, automotive and interactive transaction based kiosks.
ProFlow is led by a NASCAR Winston Cup winning experienced management team. ProFlow has developed and designed an Extreme(tm) fuel saving apparatus for the automobile industry that can have a dramatic effect on fuel consumption. ProFlow is aggressively approaching successful future technologies for fuel mileage in the complete automotive and Diesel industry.
PTA President Ted Leverette, II stated, "This acquisition is in a high growth sector and we look forward to future growth." Mr. Leverette further reiterated his mantra that, "Growth through acquisition is one of the cornerstones of the Company's long term strategy."
About PTA Holdings, Inc.:
PTA Holdings, Inc. ("PTA") is a diversified holding company with a core focus in the travel industry. Originally, the Company was formed as an internet kiosk company for commercial transactions. The Company broadened its focus with the acquisition of Professional Travel Alliance, Inc. which paired the power of a full service travel agency, travel agent training school and a travel kiosk company.
Using the economic capital and strength from the recent commencement of trading as a public company, the Company intends to launch its Travel Kiosk in a rollout to various first tier shopping malls in the United States. The Company has received letters of interest from Fortune 500 companies to both place ads and commerce in their kiosks. The Kiosks utilize state of the art technology including flexible architecture and plasma and/or LCD high definition displays. These kiosks, when fully deployed shall generate multiple revenue streams in the forms of both advertising and point of sale.
The Company is embarking upon an "Acquisition and Roll Up" strategy in order to take advantage of the fractious business landscape currently existing with travel agencies. Management maintains that as a public entity, it is ideally positioned to initiate a "roll up" of travel agencies which it anticipates will dramatically increase the Company's revenues and net income. A secondary benefit of acquiring independent travel agencies is the ability to cross-sell complementary products and services into those distribution channels with direct purchaser contact.
About ProFlow, Inc.:
ProFlow specializes in full service automotive repair with an emphasis on fuel systems. ProFlow was founded by a veteran of the NASCAR automotive racing circuit. Presently, ProFlow operates two automotive centers and has plans to open additional corporate owned centers and franchises in the future with a short term goal of 10 locations in the southeast. The fuel savings technology was developed by the company's founder over the last decade including significant NASCAR winning experience.
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.