BELLINGHAM, Wash. and HONG KONG, Nov. 20, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) today further explained its 1:10 dividend of its shares in Microart, Inc. (Other OTC:MCRT) common stock.
"Our IR team has been receiving phone calls requesting more explanation about MCRT and our reasons for the dividend. Our goal with MCRT is to inject our non-real estate IT assets and grow this company independently of API," said CEO, Daniel McKinney.
The share dividend entitles each holder of ten shares of API's common stock to receive a dividend of one common share of MCRT. Asia Properties' shareholders of record on November 30, 2007 will be entitled to receive the common stock dividend distribution.
API announced on November 15th that it had invested its 2 million shares of Entellium into MCRT in exchange for equity. Entellium is one of the world's fastest growing providers of CRM software solutions with competitors such as Salesforce.com (NYSE:CRM) and Siebel. Please see: www.entellium.com
About MCRT:
We are currently in final negotiations to acquire a profitable IT company, Digital One Limited (www.DG21.com), which incorporate the latest internet TV platform. We then plan to file a SEC registration statement, and list MCRT on the OTC Bulletin Board in 2008. MCRT is currently traded on the "grey-sheet" market with a quoted asking price of $0.35 per share.
About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 39,115,112 fully diluted shares consisting of 16,672,740 free trading and 22,357,376 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
For up to date corporate information about Asia Properties, Inc., contact Daniel McKinney, email: dmckinney@asiaprop.com or (http://www.asiaprop.com). For Investor Relations, call Dennis Burns, Tel 567-237-4132, email: denny@nvestrain.com. www.nvestrain.com
The Asia Properties, Inc. logo is available at http://www.primenewswire.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.