China Auto Worldwide, Inc Sues Alternative Fuel Company AFV SolutionsLAS VEGAS--June 7, 2006--China Auto Worldwide, Inc, a subsidiary of Xtreme Technologies and Media Group, Inc., files lawsuit against AFV Solutions, Inc. (OTCBB:AFVS), an alternative fuel vehicle solution provider and contractual partner of China Auto Worldwide, Inc., for issues resulting out of China Auto Worldwide, Inc.'s introduction of opportunities to sell vehicles from various Chinese manufacturers.
China Auto Worldwide, Inc. has filed claims in Superior Court of Maricopa County, AZ against AFV Solutions, Inc., Jeff Groscost, President, Nelson Barba, VP International Sales, Rick Steele and Jeff Stebbins, stating its claims of breach of contract and fraud with regard to the opportunities in China.
"We introduced AFV Solutions, Inc. to the China opportunities and paid expenses and development cost taking customers and AFV Solutions to China," stated company CEO, Tim Taylor. "Plus, we agreed to and signed a joint venture agreement, while in China and our lawsuit seeks damages and losses in the amount of $25,350,000 plus punitive damages and future profits," stated Mr. Taylor.
About China Auto Worldwide, Inc.
China Auto Worldwide, Inc. is a wholly owned subsidiary of Xtreme Technologies and Media Group, Inc. (www.xtmgroup.com) and is chartered as an importer/exporter of vehicles from China, some of which are alternative fuel vehicles. China Auto Worldwide, Inc. is working on a new friction drive that's being tested to charge batteries on electric vehicles to create the first total electric vehicle. China Auto Worldwide, Inc. is a wholly owned subsidiary of Xtreme Technologies and Media Group, Inc.
About AFV Solutions, Inc.
AFV Solutions, Inc., (OTCBB:AFVS) is an alternative fuel vehicle solutions provider, dedicated to seeking alternatives to petroleum as a fuel for transportation. It offers options to gasoline users through propane and compressed natural gas (CNG) conversions. Utilizing advanced technologies, AFV Solutions provides immediate results in terms of fuel economy, a cleaner environment and cost savings. AFV Solutions' researchers also are exploring ways to obtain a higher ethanol yield than is currently possible, working to create on-board hydrogen generation for vehicle applications, and developing hybrid electric and hybrid diesel bus applications.