WUHAN, CHINA, April 14 /PRNewswire-FirstCall/ - Land Star Inc. (LDSR; http://www.landstarcorp.com further to the company news release of yesterday, LDSR management is pleased to identify two USA based issuers and amalgamation partners. One is DDSU - DDS Technologies USA, Inc. (DDSU) and the other is VECTr Systems, Inc. (VECT)
Mr. Lee Congtang said, "Both DDSU and VECT today made the announcements and we are using this opportunity to do the same so that our shareholders stay in the loop and well informed. We ask the followers of LDSR to review those releases which are self explanatory. LDSR will be a 15% majority stakeholder when all is said and done. Some of our followers see LDSR involvement as insignificant. This is not so. LDSR current Estimated Market Cap is about $7,869,163 (as of Apr 13, 2010 Source Pink Sheets) with this tri way deal we will have a 15% stake in two separate companies with (our estimate) a combined 80 to 100 million dollar market cap.
That is just one benefit. Other benefits arise in the day to day business matters and daily business trade. Both of these Chinese targeted merger companies are our suppliers. It elevates us to a new high, a new plateau and allows us to rub shoulders with some of the big players in our industry. In China bigger is considered better. We have not forgotten our promise of delivering audited statements and we have repeatedly stated that this is our intention. The big picture is to have all three companies audited and all three consolidate to a higher exchange with a combined market cap of over 100 million dollars.
Although LDSR share price has not accurately reflected the benefits Hubei Chuguan Technology Co. Ltd (the operating subsidiary of LDSR) is enjoying as a public entity, these benefits have been enormous for us. For example doing business and getting new contracts has been made much easier with the public company classification.
As a company we are now looking at ways we can repay our long term shareholders and those with a much higher entry point then what we are currently priced at.
We believe this is the right move at the right time for LDSR and opportunities such as this when made available should be acted upon by management for the benefit of all shareholders and all concerned.
As this is worth repeating our share buyback commitment continues. The share structure of LDSR will remain undisturbed after the completion of these transactions. We have more than enough resources, reserves and the capital to complete all of these tasks including the audit."
Updates will be made available on a timely basis.
The company reminds its shareholders and followers to monitor PinkSheets.com Filing section and also our IR company web site section "PRESS RELEASES AND FILINGS" TAB http://www.minamargroup.net/ for non newsworthy corporate updates.
For any matters relating to retail investor queries or to send the company or its IR a message please click on the "INVESTOR SUPPORT" TAB, or the direct link http://www.minamargroup.net/helpdesk.
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Filings for this event are currently being reviewed and will be filed with Pink Sheets and Client Support section in due course. To be included in the company's email database for press releases, industry updates, and non-weekly activity in the company that may or may not be news released, please subscribe or opt in mailer at http://www.minamargroup.com/updates.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of LandStar Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. LandStar Inc. cautions you that any forward-looking information provided by or on behalf of LandStar Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. LandStar Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond LandStar Inc.'s control. In addition to those discussed in LandStar Inc.'s press releases, public filings, and statements by LandStar Inc.'s management, including, but not limited to, LandStar Inc.'s estimate of the sufficiency of its existing capital resources, LandStar Inc.'s ability to raise additional capital to fund future operations, LandStar Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match LandStar Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. LandStar Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT: For any investor relations matters, please contact www.minamargroup.net/helpdesk, Investor Relations
SOURCE Land Star Inc.
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