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Axia Group Inc. Issues Report on Recent Developments
Wednesday December 13, 8:51 am ET
SAN DIEGO, Dec. 13 /PRNewswire-FirstCall/ -- Axia Group, Inc. (OTC Pinksheets: AXGJ), today issued a statement from Jeffrey Flannery, the Company's CEO on recent company developments. A portion of that report is provided in this release. A complete statement can be found on the Company website http://www.axiagroup.info.
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Stated Mr. Flannery, "Axia has made a number of significant accomplishments which, we believe, point to the Company's emergence as an international provider of building technologies and services. Last year we fully established operations in Sri Lanka and have a number of successful residential and commercial projects underway in that country. We have initiated new projects in India, and have just returned from SuiJiang China where we signed an exclusive agreement to operate a panel production plant in that city's effort to rebuild itself above a river dammed for hydroelectric power. All of this has taken place in less than a year and offers a glimpse, we hope, into how exciting 2007 could be.
It is equally important to note that Axia has greatly expanded its abilities to work and compete in the construction marketplace. We offer the panel product for all kinds of construction from residential to commercial to high rise structures. We also provide engineering, design and construction expertise on all kind of buildings, and in this capacity we believe we are among the best in the world. Soon we plan to manufacture and distribute the actual machinery for the production of panels. In other words, we are a now a complete company, comprised of what we believe are the finest, most experienced and most success driven people in this industry.
Many shareholders have asked for financial projections based on new contracts. To make projections is difficult to do for many reasons and we would not want to mislead you. First of all, we are talking about a new technology that is just being introduced and adopted in often difficult and underdeveloped regions of the world. Some projects may fail for reasons we cannot control. That said, we do have goals for Axia in 2007 and 2008 which we believe are realistic and worth publishing.
In Sri Lanka, we have gained acceptance among the government agencies and commercial construction companies and believe that in 2007 we will see between $3 and $5 million in new projects in this country. In Central America, we hope to achieve annual revenues of at least $5 million in 2007. And we hope 2007 is the year when we finally break ground on new projects in the US market as well as introduce our products into the Middle East and Africa.
By the year 2008, the plant in SuiJiang China, by our best estimates, will provide between one million and three million square meters of product per year which we plan to sell at around $5 per square meter. In India, we expect that the two model projects we are completed, if accepted by our Indian partners, will result in at least $2 million in new construction projects that will completed by 2008.
Finally, we promise to have the company's financials published before the end of the year. It has taken us much longer than expected to translate and compile the entries from the various areas where we are working. That said, 2007 will be an exciting one for us at Axia, a time when we surely hope to see the results for all the effort we put forth in 2005 and 2006."
The full statement and more information on Axia Group, Inc. can be found on the company web site at http://www.axiagroup.info.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of AXGJ officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future AXGJ actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and AXGJ has no specific intention to update these statements.
Source: Axia Group, Inc.
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