FORT LAUDERDALE, Fla., Feb. 6, 2012 (GLOBE NEWSWIRE) -- ALAS International Holdings Inc. (Pink Sheets:VDSC) announces that the PV Enterprises team has been working extensively to complete and sign an agreement with local authorities to establish ferry services between Panama (Port Colon 2000) and Colombia (Port of Cartagena).
The 30,000 GRT 650-ft ferry that accommodates 1,600 passengers will commence daily express service between the bustling port of Colon, Panama and Cartagena de Indies, Colombia in late March/early April. The vessel can accommodate 160 trucks and up to 400 cars in addition to the 1,600 passengers.
The future vision of the company is to expand the ferry operation in late 2012 to engage more islands and major ports.
In addition, PV Enterprises has made a $750,000 down payment on The EMERALD cruise ship, which will begin services in YEOSU South Korea in May 2012 for the World Expo. The $750,000 deposit has been completely funded by PV Enterprises without reliance on outside funding.
Peter Villiotis, CEO, stated, "PV Enterprises has always operated with profitability. With current contracts representing revenue that will allow us to project earnings of .20 to .30 cents per share for 2012."
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. 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.