SOURCE: ALAS International Holdings, Inc.
FORT LAUDERDALE, FL--(Marketwire - Aug 17, 2012) - Peter Villiotis, President and CEO, announces today the spin out of its Redtide division to shareholders of PV Enterprises International, Inc. (PINKSHEETS: VDSC), in the form of a stock dividend. The company has started the process of filing with the SEC an S-1 Regulatory Statement which must be completed before an effective record date can be announced.
All Shareholders, both current and any new buyers of VDSC stock that hold VDSC shares on the record date will receive a dividend of stock in RedTide.
Alvin Ayers, is charged with the responsibility to effect the spin out for the benefit of shareholders of VDSC stock on the record date. RedTide has previously manufactured hand launched Unmanned Ariel Vehicles and is actively engaged in talks with other profitable companies regarding a potential merger.
Mr. Villiotis stated, "With the spin out of the Redtide division, we can now concentrate totally on the cruise and shipping industry which is our core business."