American Leisure Holdings, Inc. Announces Sale of Assets Of Subsidiary.ORLANDO, Fla. -- American Leisure Holdings, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMLH), announced today that its subsidiary, Advantage Professional Management Group, Inc., has sold its primary asset, a 13.67-acre parcel of unimproved land located in Davenport, Florida Davenport is a city in Polk County, Florida, United States. The population was 1,924 at the 2000 census. As of 2004, the population recorded by the U.S. Census Bureau is 1,995. . AMLH had been land banking the parcel for future commercial development. The parcel was acquired by Thirteen Davenport, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control of Miami, Florida “Miami” redirects here. For the Native American tribe, see Miami tribe. Miami is a major city in southeastern Florida, in the United States. It is the county seat of Miami-Dade County. Miami is a gamma world city with an estimated population of 404,048. for $4,020,000.00. AMLH elected to sell the commercial parcel as the Company's primary focus is on its vacation resort development model. The current project, also in Davenport, is the Sonesta Orlando Resort at Tierra del Sol, a 972 unit resort development project on 122 acres, in the Orlando theme park area, where the company has now pre-sold 624 units for $206,000,000. Malcolm Wright, AMLH President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said about the transaction, "The Company has determined that the primary focus of its Vacation Home Vacation Home A home separate from an individual's primary residence that is used for recreational purposes and may also be rented out at unused times. Notes: For tax purposes, those who rent their vacation homes may result in a lower amount of allowable expense Resort Development Division should not include any stand alone commercial development projects. The Company will concentrate on growing its resort development projects for management and distribution through its travel companies, Hickory Hickory, city, United States Hickory, city (1990 pop. 28,301), Burke and Catawba counties, W N.C., at the foot of the Blue Ridge Mts.; inc. 1870. It is a processing and trade center for an abundant agricultural region (grain, soybeans, poultry, hogs, Travel Systems and TraveLeaders. Since the market for retail and service properties of this size is good right now in this area, we took advantage of that market and sold the property. The proceeds have been used to retire debt and to create additional working capital." About American Leisure Holdings, Inc. American Leisure Holdings Inc. (OTCBB:AMLH) is a fully integrated travel services distribution company. In addition to TraveLeaders, the travel division contains Hickory Travel Systems, Inc., a travel distribution network whose members produce multi-billon dollar gross annual sales. The Company's goal is to acquire travel companies and expand its affiliated travel network within AMLH's business model for an integrated distribution channel while continuing its web based Coming from a Web server. See Web application. and e-commerce solutions development. The Company is actively working to develop innovative travel and communication technology to enhance its competitive posture in the travel management and vacation home development arenas. The Company intends to take advantage of the natural synergy between travel distribution and management and the development of travel destinations. This synergy will enhance the performance of the AMLH Vacation Home Resort Development division that develops high quality vacation home resort properties. Forward Looking Statement: This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The statements regarding AMLH in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AMLH has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause AMLH's results to be materially different from results implied in such forward-looking statements. Important factors known to AMLH that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AMLH's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AMLH undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise. |
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