7 Star Entertainment Inc. Enters Into Letter of Intent for Acquisition
November 14 2013 - 7:00AM
Marketwired
7 Star Entertainment Inc. Enters Into Letter of Intent for
Acquisition
Company Plans to Acquire Electronics Technology Company
FORT LAUDERDALE, FL--(Marketwired - Nov 14, 2013) - 7 STAR
ENTERTAINNMENT, INC. (OTC Pink: SAEE) today announced that it has
entered into a letter of intent to acquire California based Orbital
Laboratories, Inc. Orbital Laboratories is a consumer electronics
company that is engaged in the development of new products,
including wireless, cellular, and new media technologies.
Orbital is creating a historic first, encrypted "Organic
Network" which is comprised of technologies that actively search,
share and evaluate resources. It is a public/private network of a
wireless layer for electronics that customers can use to securely
locate missing assets and individuals. The system also creates an
individually controlled content environment with access to all
forms of media obtained through one location source. It can even
help another device that is having trouble or locate a missing
specific resource. Orbital's technology has patents pending,
patents awarded, and several under exclusive license. All the
patents are in the location-based service industry that enables a
new generation of products built around a common concept: locating
the people, places and things that are important in life. This is
particularly valuable in emergency situations for example to
locating a child or other family members. Most importantly, this
Organic Network introduces a revolutionary new way for the world to
connect and positions Orbital Laboratories to be an essential part
of our collective future.
Says CEO Carl J. Conte, "We couldn't be happier about this
merger and the great value it will bring to our shareholders.
Orbital's management team is made up of individuals who are leaders
in their respective fields. Their expertise ranges from
engineering, to PR, to finance." 7 Star is completing the Due
Diligence stage of the acquisition and we hope to enter into a
final agreement within the next few weeks. The company plans to
keep shareholders updated with regular announcements. Please visit
the Orbital Web-site at: www.orbitaltv.com
About 7 Star
Entertainment, Inc.
7 Star owns and operates a portfolio of online dating web
properties along with complementary online bidding, video, and
affiliate traffic websites, supported by a range of mobile
e-commerce applications such as location based services, mobile
checkout, and credit card processing. 7 Star is currently focused
on new acquisition opportunities and the formation of strategic
partnerships that will accelerate the next phase of 7 Star's growth
and business platform. For more information on 7 Star
Entertainment, Inc. please visit the company website at
http://www.7StarEnt.com.
Forward-Looking Statements: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and as such, may involve risks and uncertainties. Forward-looking
statements, which are based on certain assumptions and describe
future plans, strategies, and expectations, are generally
identifiable by the use of words such as "believe," "expect,"
"intend," "anticipate," "estimate," "project," or similar
expressions. These forward-looking statements relate to, among
other things, expectations of the business environment in which the
Company operates, projections of future performance, potential
future performance, perceived opportunities in the market, and
statements regarding the Company's mission and vision. The Company
and all affiliated parties do not assume any duty to publicly
update or revise the material contained herein.
Contact: Investor Relations Phone: 1-866-354-7171 Email:
info@7starent.com Website: www.7StarEnt.com
Spectaire (PK) (USOTC:SPEC)
Historical Stock Chart
From Nov 2024 to Dec 2024
Spectaire (PK) (USOTC:SPEC)
Historical Stock Chart
From Dec 2023 to Dec 2024