AvStar Aviation Group, Inc. Releases Company Activ

AvStar Aviation Group, Inc. Releases Company Activity Update  

AvStar Aviation Group, Inc. Releases Company Activity Update 

PR Newswire 

HOUSTON, May 17, 2012 

HOUSTON, May 17, 2012 /PRNewswire/ -- AvStar Aviation Group, Inc. (AvStar) (OTC Pink: AAVGE) today released the following company activity update. 

AvStar management feels it has the basis for an agreement with an auditor for the current needs of the company and the additional requirements of a commuter airline. Based upon our discussions with the auditor, we feel that all delinquent SEC reports should be filed by June 30, 2012, making us fully compliant with SEC requirements. The company will stay on the OTC Pink board while the filings are prepared. Upon filing the company will move to the OTCQB tier. 

The filings will show airline revenues in 2011 were approximately $2,275,000, which is an increase of 35% over 2010. The 2012 Q1 airline revenues were approximately $650,000, which is an increase of 12% over the same period of 2011. Revenues in Q2 of 2012 are continuing at a pace to exceed 2011 levels. 

There is nothing new to report with the progress of DOT, OFAC authorizations or the Berry Aviation relationship other than we have retained an outside consultant to help with the DOT application. We can only anxiously await these approvals. 

Forward-Looking Statements: Certain statements contained in this release issued by AvStar Aviation Group, Inc. (the "Company") that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are statements regarding the intent, belief, or current expectations, estimates, or projections of the Company, its directors, or its officers about the Company and the industry in which it operates and are based on assumptions made by management. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements. 

Contact: Clayton I. Gamber Jr. President/CEO Phone: 713-965-7582  http://www.avstarinc.com  cgamber(at)avstarinc(dot)com