ALERT: $SAEE major LOI signed, chart undervalued and coming up off bottom
Enters Into Letter of Intent for Acquisition
Company Plans to Acquire Electronics Technology Company
MarketwiredPress Release: 7 Star Entertainment, Inc. – 1 hour 8 minutes ago
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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
