NEW YORK, Feb. 5, 2013 (GLOBE NEWSWIRE) -- RVPlus, Inc., (OTCQB:RVPL) holding company of ECCO2 Tech has announced a partnership and letter of intent for a merger-acquisition, in pursuit to deploy and expand LINGS, a sustainable 'green' education program throughout Africa, Micronesia, Asia, West Indies, and Latin America founded last year. The projected sales revenue to be generated from the partnership with Intervisual Technology are in the billions due to eligible grants and debt financing from United Nations financial aid partners, who are encouraging the new addition to the ECCO2 Civil Society Programme.
RVPlus, Inc. currently holds over $24 million in accounts receivable from invoicing for products and services rendered for active government contracts in Africa and West Indies, displaying significant growth from the Company's quarterly filing as of October 31, 2012, which shows $8.66 million from accounts receivable and $297,117 deficit accumulated from August 1, 2012 through October 31, 2012. The Company is in pending negotiations with lenders and private investors who will provide cash payments for the accounts receivable invoices.
The Liberia Institute for Global Studies (also known as LINGS) is a $750 million project to construct the first green campus in West Africa, by and between ECCO2 Tech, ECCO2 Corp and West African federal government parties. Intervisual Technology will provide the educational products and services to LINGS physical and virtual learning applications on a subscription basis to support cost-effective learning for students in developing countries lacking sufficient financial resources for more schools, teachers, and regularly schedule classes. The overall objective is to provide sustainable educational tools and resources to enhance social development, women's rights, and further education on climate change and energy efficiency solutions that will preserve our agriculture, environment, and economy.
RVPlus CEO, Cary Lee Peterson comments, "This deal has been in talks and in works for almost two years. There was much to negotiate and comprehend in the development stages of this engagement but I think now is the perfect opportunity to take our ideas into action to help educating the youth that will be taking care of the planet thirty to forty years from now, and generations to follow. Intervisual Tech offers an economically viable solution to school systems and governments that are growing fast and do not have the funding to hire more teachers and build new schools to provide a moderate learning environment for our children."
RVPlus and Intervisual Technology plans include a completed merger-acquisition by April 2013 and launch of pilot LINGS projects within Guam, West Indies, Central America, and West Africa by Summer/Fall season 2013
For more details about RVPlus and ECCO2, go to http://www.ecco2tech.com.
The ECCO2 logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=14907
ABOUT INTERVISUAL TECHNOLOGY, INC.
Intervisual Technology ("IVTI"), is an nationally accredited private school based in Florida with a physical campus, American High School located in Fort Lauderdale, engaging in educational services by physical and virtual classes for grade levels 6 to 12, which offer cost effective solutions to students and school districts globally. IVTI has a current attendance of over 2,000 students that are located within the continental US and Hawaii, in addition to international programs operating in Africa and China. The company has projected sales revenue of over $10 million for 2013 from local, state, and federal contracts and is a women-owned business established in 2007 by founder and CEO, Dana Williams, inclusive to possessing several high profile supporters and board advisors such as John Ellis "Jeb" Bush, Jr., who have enabled the school to establish robust business relationships and networks for investment and real estate opportunities.
For more detail about Intervisual Technology, Inc., go to www.intervisualtechnology.com.
Statements which are not historical facts contained in this release are forward-looking statements, such as "immediately accretive" that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. The information herein is subject to change without notice. The Company shall not be liable for technical or editorial errors or omissions contained herein.