Blue Star Opportunities Corp. Provides Revenue Guidance
23 Mai 2012 - 2:00PM
Marketwired
Blue Star Opportunities Corp. (The "Company") (PINKSHEETS: BSTO)
announces today that it is expecting its revenues for the quarter
ending June 30th 2012 to reach $1M dollars based on its current
half way position, having already shipped half a million dollars
worth of goods. Both cash flow and bottom line will be in positive
territory.
These figures allow the Company to provide further guidance
regarding year end revenue which is now expected to reach the $5
million mark, based on both current operations plus 6-month revenue
from 3 new factory outlets that will be opening in the next 12
weeks.
The first of the three factory outlets has been signed and will
be opening at the beginning of July in a prime location in the
Montreal area under the Duro Design banner. Located in one of the
busiest commercial centers in North America, Le Quartier DIX30, the
new outlet will benefit from high traffic but also from the same
Google Ad Work program which has proven so successful in our other
factory outlet. The Company is on track with its core plan to open
a dozen such stores in fiscal 2013 that could add as much as an
additional $20M dollars to the current top line.
The company is in the process of securing a revolving credit
facility to provide ongoing financing of initial leasehold and
operations for new factory outlets. All new stores will be financed
from operations, supplier credit and operating loans. Q2 results
will be released in August.
Finally, a decision has been made in the interest of supporting
share value for all investors. Controlling shareholders will be
reducing their holding in the company by returning to the treasury
some 70 million shares, bringing down the issued and outstanding to
the 40 million share range. This share cancelation will be
completed before the end of the quarter.
ABOUT BLUE STAR Blue Star Opportunities
Corp. is a supplier of environmentally friendly components used in
renovation and construction of family homes, commercial and retail
space, and multi-unit dwellings. Its products include materials for
housing parts that are traditionally made of wood. It is now a
leader in LEED certified bamboo and cork flooring offered in
hundreds of beautiful hand finished colors offered at factory
prices. The Company's policy is to offer to its clients
LEEDS-validated materials from renewable resources in order to
service the growing market of consumers and end-users who are
demanding green products for their homes and projects.
FORWARD-LOOKING STATEMENTS Except for historical information
provided herein, this press release may contain information and
statements of a forward-looking nature concerning the future
performance of the Company. These statements are based on
suppositions and uncertainties as well as on management's best
possible evaluation of future events. Such factors may include,
without excluding other considerations, fluctuations in quarterly
results, evolution in customer demand for the Company's products
and services, the impact of price pressures exerted by competitors,
and general market trends or economic changes. As a result, readers
are advised that actual results may differ from expected
results.
For further information, please contact: Michael Berman 514 969
6419
Blue Star Opportunities (PK) (USOTC:BSTO)
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