BELLINGHAM, Wash., Feb. 27, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (Pink Sheets:ASPZ) reported today that it has acquired, through its wholly owned subsidiary, Hertz Controller Technologies Corporation (HCTC), a significant Hertz controller electrical patent for US$12 million in HCTC shares.
Asia Properties CEO, Daniel McKinney said, "We are thrilled to have acquired this important patent into our subsidiary, HCTC. The technology has breakthrough applications in audio, video, electrical appliance, and power conditioning devices, among others. One of the many unique and powerful benefits that the technology offers to the A/V and electrical appliance industries is a low-cost chipset solution that significantly suppresses conducted noise in electrical appliances, resulting in improved sound and picture quality as well as reduced power consumption."
The patent can be viewed at : http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=5,739,732.PN.&OS=PN/5,739,732&RS=PN/5,739,732
Because HCTC is focused on applications of the Hertz controller technology rather than API's core business in real estate, the API board is considering ways to manage the operation to maximize API shareholder benefit. The board will be meeting in March to consider its many options.
About Asia Properties, Inc.: Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market. API is a Nevada corporation and trades on the pink sheets under the symbol "ASPZ." There are currently 9,799,028 fully diluted shares consisting of 3,213,601 free trading and 6,585,427 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
The Asia Properties, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1733
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