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.
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