HONG KONG and BELLINGHAM, Wash., Jan. 27, 2010 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) confirmed today that it has completed its SEC filings and is now up-to-date and current with its required information.
Daniel McKinney, API’s CEO, commented, "I’m pleased to report to shareholders that we are now current in our filings, which will cause the "red stop sign" to be removed on our Pink Sheets page. This is a significant step for us, as we enter into this new year with our Macau gaming business."
API confirmed its new office addresses in Hong Kong and Bellingham, Washington, which is listed in its website.
The Company reported that it is awaiting final due diligence documents along with the last 12 months audit from its Macau gaming business before finalizing the closing. After receiving the audit, consolidated accounts will be prepared and filed.
API announced on November 17th that it signed a Memorandum of Understanding "MOU" to acquire 50.10% interest of a Macau casino VIP club from Peak Winner Holdings Limited ("Peak Winner"). Peak Winner has a profit share interest in Sing Hou VIP Club ("Sing Hou").
About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 35,474,362 fully diluted shares consisting of 11,965,626 restricted and 23,508,736 free trading. The transfer agent is Transfer Online, Inc. of Portland, Oregon.
The Asia Properties, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1733
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements.