CHANDIGARH, INDIA--(Marketwire - 04/06/11) - Evader, Inc. (EVDR) (PINK SHEETS:EVDR - News) (http://www.evadercorp.com) Further to the company news of Tuesday February 22, 2011 where amongst other things Evader, Inc. management announced the new subsidiary ASCC. The merger and acquisition is now fully completed and encompasses 100% of ASCC. EVDR management is of the opinion that ASCC is a perfect fit within their growing company.
EVDR recently announced (April 5, 2011) that it has submitted a tender for an irrigation project in the state of Bihar estimated to be worth $30 million. Other past projects of ASCC include building a section of India's "Golden Quadrilateral Highway."
Mr. Walia, Managing Director of ASCC and current President of EVDR stated, "ASCC management saw great potential in the marriage of ASCC and EVDR. The size and revenues ASCC as a company has to offer to EVDR and its shareholders is a game changer for all concerned. We intend to organically and successfully grow our customer base and expand on the growing Indian construction market.
In other company news, EVDR has commenced filing its financials with OTC Markets. To date, Year End Financials 2010 have been posted. Note that these financials only represent activities of EVDR and are not consolidated statements of both EVDR and its subsidiary ASCC business activities. Under the guidelines, the consolidated statements will be filed commencing from the date of the merger. The company is in process of filing last two years quarterly statements and year end statements to aid and comply with OTC Markets rules in an effort to raise EVDR ranking icon from "Stop" to "Yield." Full adequate disclosure documents are currently being drafted, and will be filed with OTC Markets including a legal opinion. The company is advised that the process should be completed within the next 45-60 days and may result in the company obtaining a "Current Information" tier status with OTC Markets.
EVDR is currently in the process of being OTC Verified www.otcverify.com with the full report scheduled to be publicly released by the end of April 2011.
The company intends to release more details will shortly and on a more frequent basis.
About ASCC
ASCC is one of the major developers of India, with strong ties to Provincial and Central Government of India (NHAI- National Highway Authority of India) and World Bank funded projects. The company has achieved solid growth since its incorporation in 1987, and shows annual turnover of about $3.5 million U.S. ASCC is professionally managed and involved in executing large civil engineering projects, with an emphasis on roads, bridges, dams, earthwork and highways, and promoter-colonizer of housing complexes, all demanding a high degree of skill and expertise.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Evader, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Evader, Inc. cautions you that any forward-looking information provided by or on behalf of Evader, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Evader, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Evader, Inc.'s control. In addition to those discussed in Evader, Inc.'s press releases, public filings, and statements by Evader, Inc.'s management, including, but not limited to, Evader, Inc.'s estimate of the sufficiency of its existing capital resources, Evader, Inc.'s ability to raise additional capital to fund future operations, Evader, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Evader, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Evader, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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