DayStar Technologies, Inc.’s ( NASDAQ : DSTI ) Board of Directors approved the issuance of shares at two dollars per share to Avatar for its completed Hawaii projects. Total purchase price is $US850,000.
Lorne (Mark) Roseborough, DayStar’s President, stated, “This transaction is representative of opportunities that we are evaluating and marks the start of a new segment of business growth for DayStar. We officially move into our first revenue stream with the completion of this transaction, we look forward to creating a long-term relationship with Avatar Solar to acquire more of their completed projects and assisting them with new ones.”
Lorne (Mark) Roseborough, DayStar’s President, further stated, “Our intention is to move forward on this division of our business in a very aggressive manner. Additionally, the Company’s Board has approved management to pursue the licensing of its technology and equipment.”
DayStar Technologies, Inc. (DSTI) is a developer of solar photovoltaic products based upon CIGS thin film deposition technology and is currently embarked 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 http://www.daystartech.com/.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts, including but not limited to, statements regarding the timing for the company to regain compliance with the NASDAQ listing rules, are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in March 30, 2012 and in its Forms 10-Q filed with the SEC thereafter for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise
Source: Daystar Technologies
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