NEW YORK and ZURICH, June 8,
2012 /PRNewswire/ -- Star Entertainment Group, Inc.
(PINKSHEEETS: SETY) announced today the closing of the acquisition
with NINJ GmBH by its wholly owned subsidiary Tranzistor Systems
Inc. NINJ is a pioneer in developing ground breaking mobile
technology since 2005. Their VirtualRadio product has established a
market leading position in the fast growing segment of Internet
based Radio Software and Services for mobile phones.
"We are very happy to have found a home with Tranzistor Systems
and Star Entertainment Group and look forward to creating a very
incredible platform in concert with Tranzistor Radio and the
continuation of our VirtualRadio product," said Oliver Wehrli, General Manager of NINJ.
VirtualRadio was first released in 2005 and has quickly become a
top rated phone app in Europe,
Asia and the Emerging Markets.
VirtualRadio has been downloaded more than 4,000,000 times and
attracts a regular monthly user base of approx. 80,000 listeners.
VirtualRadio is available as an Android, iPhone, Symbian and Java
based app.
"How fortunate are we to be able to work with the team at NINJ-
the true pioneers of internet radio. Oliver and his team are some
the most capable engineers in this specific niche in the world. I
welcome them whole heartedly and look forward to building
incredible products with them," Josh
Eikov, President of Tranzistor Systems and CEO of Star
Entertainment said.
The acquisition was completed by way of Preferred shares and was
booked at approximately $3,000,000.00
in value. The deal closed as of May 22,
2012.
NINJ can be found on the web at www.NINJ.COM or
www.VRadio.org .
About Star Entertainment Group
Star Entertainment Group, Inc. is an independent
investment, management, and holding company focusing on new media
and digital content, delivery and monetization of multi-dimensional
Online Customer Communities through the integrated use of online;
interactive, real-time Internet television broadcasting; Internet
radio networks; participatory mobile applications; proprietary
search capabilities and intuitive advertising platforms. The
Company will operate as a central hub, utilizing our strengths in
M&A, capital and resource management and will proactively
minimize risk by teaming with experienced technologies operators,
leveraging their experience and knowledge.
About Tranzistor Systems Inc.
Tranzistor Systems, a wholly owned subsidiary of Star
Entertainment Group, is a consumer technologies company
developed to address the independent music, social media and
entertainment markets and is a home for artists, bands, fans and
indie labels to cross-pollinate and create multiple revenue
streams. With our internet radio and discovery platforms Tranzistor
will be the first interactive company and brand to widen the
demographic for fans, indie labels and independent artists.
Tranzistor will focus on developing and monetizing their
content.
About NINJ GmBH
NINJ is the developer and operating subsidiary of
Tranzistor Systems engaged in creating internet radio players and
the management of VRadio.org .
Safe-Harbor Statement
This information includes certain "forward-looking
statements." The forward-looking statements reflect the beliefs,
expectations, objectives and goals of the Company management with
respect to future events and financial performance. They are based
on assumptions and estimates, which are believed reasonable at the
time such statements are made. However, actual results could differ
materially from anticipated results. Important factors that may
impact actual results include but are not limited to commodity
prices, political developments, legal decisions, market and
economic conditions, industry competition, the weather, changes in
financial markets and changing legislation and regulations. Matters
discussed in this press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include
but are not limited to risks and uncertainties associated with the
impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently;
and other factors detailed in reports filed by the Company.
Forward-looking statements are intended to qualify for the safe
harbor provisions of Section 21E of the Securities and Exchange Act
of 1934, as amended.
Star Entertainment Group
info@StarEntertainGroup.com
(570) 213-4204
SOURCE Star Entertainment Group, Inc.