7 Star Nears Completion of Orbital Acquisition & Announces Plans of Up-Listing
19 November 2013 - 12:00AM
Marketwired
7 Star Nears Completion of Orbital Acquisition & Announces
Plans of Up-Listing
Company Is in Final Stages of Due Diligence to Complete
Acquisition of Orbital Laboratories, Inc.
FORT LAUDERDALE, FL--(Marketwired - Nov 18, 2013) - 7 STAR
ENTERTAINNMENT, INC. (OTC Pink: SAEE) is pleased to announce that
they are near completion of the Orbital Laboratories acquisition. 7
Star is confident that the acquisition will bring significant near
and long-term benefits to the company and the shareholders. "We see
a tremendous opportunity in the acquisition of Orbital. They bring
to the table a valuable patent portfolio and an exciting pipeline
of new products. We feel that the revenue potential for the
combined company over the next 24 months and beyond is substantial
and I believe that we are less than a week away from completing the
final agreements," said 7 Star CEO, Carl Conte.
Orbital anticipates a significant increase in revenues beginning
next year as their advertising and marketing strategy takes effect
and sales of their beacon and media player technologies begins. The
company expects to see a dramatic increase in sales of their
existing line of LCD televisions. The televisions are currently
available on Amazon.com, and the company has also entered into a
marketing agreement with Continental Marketing (www.cmsales.com).
Orbital plans to increase their retail presence through their
rapidly expanding exclusive dealer network. These dealers will
carry the full line of Orbital electronics and will be a showcase
for the company's new technologies.
Following the acquisition, 7 Star plans to begin the process to
up-list the company & hopefully be ready by the second quarter
of 2014. "We seek full transparency for our shareholders and
up-listing the company will clearly bring much better value to
them," said 7 Star CEO, Carl Conte.
About Orbital Laboratories, Inc.
Orbital started as a U.S. brand producing commercial grade
premium LCD Televisions. In 2011 Orbital Laboratories, Inc.
acquired the rights to the name "Orbital" and created a partnership
to brand a US based company for global sales of LCD TVs for the
consumer market. The company's line of televisions, sizes 55" to
80", are currently available on Amazon.com. Search Amazon's website
for "Orbital Elite TV" to check out the latest pricing for their
TV's. The company's other products, including the Orbital Beacon
DNA technology devices and the Orbital Media Player, assist the
overall vision of Orbital; attracting consumers with innovative
applications, quality construction, and technology not available
from any other manufacturer. Please visit Orbital's website at
orbitaltv.com
About 7 Star Entertainment, Inc. -- As 7 Star currently owns and
operates a portfolio of online web properties, complementary online
bidding, video, and affiliate traffic websites, as well as a range
of mobile e-commerce applications such as location based services,
mobile checkout, and credit card processing, the Company now has
this new opportunity to fulfill its original business model of
continually focusing on new acquisition opportunities and the
formation of strategic partnerships to accelerate 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.
Investor Relations Phone: 1-866-354-7171
Email: info@7starent.com Website: www.7StarEnt.com
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