CLEARWATER, Fla., April 26, 2011 (GLOBE NEWSWIRE) -- ALAS Defense Systems, Inc. (Pink Sheets:VDSC) recently announced a name change to ALAS International Holdings, Inc., and has filed for the name change with the state of Nevada.
ALAS, an international project financing and holding investment corporation, today announced it has entered into an agreement to acquire 100 percent of the capital shares of Fresco International Food Corporation (FRESCO), a Florida corporation headquartered in Miami Beach, Fla., that operates two restaurants in Miami and also two restaurants scheduled to open in the exclusive South Beach art deco district.
The two soon-to-be-opened upscale South Beach restaurants were designed by the successful Italian restaurateurs Francesco Sangiovanni, Massimo Sanita and Valerio Tremiterra, who for many years focused their efforts on the growth and development of family restaurants in Italy. After several successful international business ventures, they jointly founded the Gruppo Fresco, including but not limited to Fresco Trattoria 2020 in Milan and in Napoli (www.frescotrattoria.it), Buono Express and Verace Cafe. The Gruppo Fresco has created an important new concept of food services with high potential for growth among American consumers that offers a variety of quality, healthy food in a finely designed, fashionable atmosphere at moderate pricing.
Edwin Salmon, President and CEO of ALAS, stated, "This is a concept that will never grow old because the market demand has never been greater for food that is healthy, economically priced and great tasting. There are plans to franchise all operations on a national basis under the complete control of FRESCO."
Auditors are preparing necessary filing with the SEC to become fully reporting and moving to a higher level stock listing.
The ALAS Board of Directors also accepted the resignation of Jay O. Wright as a Director of ALAS, effective April 9, 2011.
About ALAS Defense Systems, Inc.
ALAS Defense Systems, Inc., is a holding company which owns and operates through its wholly owned subsidiary, Redtide Defense Group, Inc. (http://www.redtidedefense.com/) a manufacturer of UAV (Unmanned Aerial Vehicles). ALAS has created an inexpensive and technically superior solution to the growing $6 billion dollar a year worldwide market demand for UAVs. The Company is looking to grow both organically and through strategic acquisitions.