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IAS ENERGY, INC. ANNOUNCES SUCCESSFUL COMPLETION OF DUE DILEGENCE ON VIDEO1314 IN HONG KONG
November 13, 2007 - IAS Energy, Inc. (OTCBB: IASCA) is pleased to announce the successful completion of the due diligence on Video1314.com at their Hong Kong facilities.
John Robertson, President of IAS Energy, Inc., and James Vandeberg, director and legal advisor, successfully completed the due diligence and inspected the Video1314.com facilities and were impressed with the Company's operation for the Video1314.com projects.
The agreement is now in place to finance Video1314.com to continue an aggressive program of advancing the Chinese version two interface, and to develop the marketplace similar to Alibaba.com site, which will sell goods using video, photo and audio technologies.
Samuel Kam, Vice President of Internet Development for IAS Energy, Inc., states, "I am very pleased to have IAS Energy, Inc. to be the public vehicle for Video1314.com, which will enable the Company to raise sufficient funds to move quickly ahead with its future plans of being one of the top Internet sites in China and Asia."
ABOUT VIDEO1314.COM
Video1314.com is currently a Chinese Web 2.0 platform similar to YouTube. Video1314's Chinese platform will be expanded and has plans to launch across Asia in Japanese, Korean and English. Besides Video, photo and audio sharing capabilities, Video1314 will grow its business to offer a C2C, B2C and B2B marketplace to buy and sell goods for its members. Video1314 focuses on three main areas:
- Free online photo, video and audio sharing,
- A marketplace (similar to Alibaba) to buy and sell goods using video, photo and audio technologies
- High resolution TV programs that can be watched over the Internet
The site has attracted over a million visitors since March 2007. Today, there are over 10,000 video clips in 18 video channels that consist of sports, music, food and many others.
Mr. Kam reports that this is the start of many additional new features to be announced for the Video1314.com site to accomplish our goal of having Vido1314.com to be one of the top websites in Asia and China.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson
President
Forward-Looking Statements
Statements in this press release regarding IAS Energy, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Contact:
John Robertson, President
800-665-4616
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