DayStar Technologies, Inc. (DSTI) Issues Letter Entitled "DayStar a Year in
KELOWNA, BC -- (Marketwired) -- 04/11/13 -- DayStar Technologies,
Inc. (NASDAQ: DSTI) issues the following letter regarding a corporate
"DayStar a year in review:
DSTI, DayStar as of April 12, 2013 will become an OTC security. Over
the past twelve months, several letters of intents were announced.
However, closing some of those deals has been hindered due to lack of
financing. Despite such challenges, the company has gone through a
significant restructuring process that has left the company in its
strongest position in the past five years.
Restructuring of DayStar includes many changes in key management
positions. In March, 2013 Lorne Roseborough was appointed as a CEO of
the company. Roseborough was a former board member and president of
EPOD International, Inc. He also served as a Vice-President for
Belkorp Industries, Inc. Under Roseborough, the company has managed
to significantly reduce overheads from manufacturing assets, and the
company is now in a position that it should be cash flow positive
this year for the first time. DayStar continues the process of
long-term debt reduction from $16 million to $1.5 million. The
company also elected to sell inventory and technology rights to its
CIGS tech in return Daystar has received common equity and senior
secured equity in the acquirer.
In addition, over the last year DayStar was able to close the
purchase of six fully completed projects in Hawaii. DayStar has also
been able to identify multiple additional projects in Hawaii and is
working persistently to close these projects.
DayStar has also entered into a definitive agreement to acquire 6
special purpose Companies that contain fully paid Solar equipment
used to build Solar power generating Parks upon completion this will
allow DayStar to build projects that could potentially generate $28
million in revenues. These Companies qualify for government cash
grant under section 1603 of The American Recovery and Reinvestment
Act of 2009, which will qualify facility owners for a one time grant
equal to 30 percent of the construction and installation costs for
DayStar also has a $148 million tax loss carryover. If a company was
interested in acquiring DayStar, DayStar would be conservatively
estimated value from of this at 2% - 7% of the tax carryover subject
to IRS and government approval.
One of the bigger potentials of DayStar is its relationship with the
Breakfast Club of Canada. The founder of the Breakfast Club, Daniel
Germain, serves DayStar as a member of Board of Directors. DayStar's
relationship with the Club is expected to be a major cornerstone that
will allow Daystar to build projects on establishments that are
sponsored by the Club such as schools. The Breakfast Club has
corporate partners that are Fortune 100 companies that could
potentially work with DayStar.
Moreover, DayStar has secured the rights to acquire a 20% stake in a
company that has sole rights to internationally patented and
patent-pending technology that simultaneously stores and converts
sunlight to electric power in a bio-solar cell this cell has
significant groundbreaking efficiency. This technology should
revolutionize solar industry and be a game changer in the energy
Management at DayStar Technologies, Inc. appreciates the shareholders
support, and the DSTI team is dedicated to make DayStar a successful
solar energy company and produce shareholder value now and in the
With warmest regards,
Management DayStar Technologies, Inc."
About DayStar Technologies Inc.
DayStar Technologies, Inc. (DSTI)
is a developer of solar photovoltaic products and has assembled a
world-class team of project engineers, and industry finance
professionals, to facilitate the complete development of renewable
energy projects throughout the world. DayStar is currently embarking
on a strategy of strategic partnerships to enter new markets within
the global renewal energy industry including ownership and
construction of solar and renewable power plants. For more
information, visit the DayStar website at
For corporate information, contact Mr. Dan Giesbrecht, VP Business
Development, firstname.lastname@example.org, 778-484-5159.
For Investor Relations, contact Mr. William Nalley, Orsay Groupe,
email@example.com, phone 305-515-8077.
Statements contained in news release, which are not historical facts,
may be forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
can be identified by the fact that they do not relate strictly to
historical or current facts. They often include words like "believe,"
"expect," "anticipate," "estimate" and "intend" or future or
conditional verbs such as "will," "would," "should," "could" or
"may." We undertake no obligation to update any forward-looking
VP Business Devlopment
Mr. William Nalley
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