STROUDSBURG, Pa., June 8, 2012 /PRNewswire/ -- Star
Entertainment Group, Inc. (PINKSHEETS: SETY) is pleased to announce
it has been upgraded by OTC Markets to the highest trading status
of "Current Information". By meeting the OTC Markets
Group Guidelines for Providing Current Information guidelines, the
Company will now be designated by OTC Pink Current Information.
The Current Information Market Tier Designation applies to
reporting companies that submit filings to regulators with powers
of review and that make the filings publicly available or
non-reporting companies that make current information publicly
available on the OTC Disclosure and News Service pursuant to OTC
Markets Guidelines for Providing Adequate Current Information.
Disclosures are published pursuant to paragraphs (a)(5)(i) to
(xiv), inclusive, and paragraph (a)(5)(xvi) of Rule 240.15c2-11 and
the OTC Disclosure Guidelines.
The Company recently announced the acquisition of Tranzistor
Systems, Inc. a company engaged in mobile music entertainment
products and services including internet radio, fan applications,
and eCommerce products and Tranzistor's acquisition of NINJ GmBH, a
pioneer in developing ground breaking mobile technology since 2005.
Their VirtualRadio product has established a market leading
position in the fast growing segment of Internet based Radio
Software and Services for mobile phones. The Company is now
strategically positioned in the Digital Music industry which,
according to respected research firm Ovum, is expected to exceed
$20 billion in annual revenue by
2015, with 30% of that belonging to the independent label and
artist segment of the market.
Tranzistor's product and technology has been assessed in excess
of $10 million and a number of
products and services are under development and synergistic
potential joint ventures and acquisitions are under negotiation.
Tranzistor has projected annual revenues to reach $87.6 million by 2014 and in excess of
$231 million by 2016, as Tranzistor's
service set expands internationally.
With the completion and upgrading of the Company's state and
disclosure filings, the Company expects its previously announced
initiatives to accelerate.
About Star Entertainment Group
Star Entertainment Group, Inc. is an independent investment,
management, and holding company focusing on new media and digital
content, delivery and monetization of multi-dimensional Online
Customer Communities through the integrated use of online;
interactive, real-time Internet television broadcasting; Internet
radio networks; participatory mobile applications; proprietary
search capabilities and intuitive advertising platforms. The
Company will operate as a central hub, utilizing our strengths in
M&A, capital and resource management and will proactively
minimize risk by teaming with experienced technologies operators,
leveraging their experience and knowledge.
About Tranzistor Systems Inc.
Tranzistor Systems, a wholly owned subsidiary of Star
Entertainment Group, is a consumer technologies company developed
to address the independent music, social media and entertainment
markets and is a home for artists, bands, fans and indie labels to
cross-pollinate and create multiple revenue streams. With our
internet radio and discovery platforms Tranzistor will be the first
interactive company and brand to widen the demographic for fans,
indie labels and independent artists. Tranzistor will focus on
developing and monetizing their content.
Safe-Harbor Statement
This information includes certain "forward-looking statements."
The forward-looking statements reflect the beliefs, expectations,
objectives and goals of the Company management with respect to
future events and financial performance. They are based on
assumptions and estimates, which are believed reasonable at the
time such statements are made. However, actual results could differ
materially from anticipated results. Important factors that may
impact actual results include but are not limited to commodity
prices, political developments, legal decisions, market and
economic conditions, industry competition, the weather, changes in
financial markets and changing legislation and regulations. Matters
discussed in this press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include
but are not limited to risks and uncertainties associated with the
impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently;
and other factors detailed in reports filed by the Company.
Forward-looking statements are intended to qualify for the safe
harbor provisions of Section 21E of the Securities and Exchange Act
of 1934, as amended.
Star Entertainment Group
info@StarEntertainGroup.com
(570) 213-4204
SOURCE Star Entertainment Group, Inc.
