NEW YORK, October 5, 2010 /PRNewswire-FirstCall/ -- Mobile Star Corp. (OTCBB: MBST), a developer of karaoke vending machines, has published the following letter to all shareholders. The letter expresses the company's commitment to the commercial introduction of the Mobile Star personal karaoke experience during the next six months.
Dear Shareholders,
The Mobile Star has continued to make positive strides during the first three quarters of 2010. Most recently, the company has secured the required financing to continue funding ongoing business operations, and to meet the commercial goals of the company over the next six months.
The financial agreement calls for the financier to provide the Mobile Star with multiple tranches during the company's pre-commercial period.
During the next two quarters, the company is planning the full commercial introduction of the Mobile Star personal karaoke vending machine. We believe that there is a significant market for our entertainment system, as demonstrated by the company's successful pilot at the start of 2010.
Our team is fully committed to reaching our product's full commercial potential, in the United States as well as in several international markets. We are confident that through our continued efforts to advance our business development goals, that the stock price of the company will grow to match our full potential.
I wish to express my tremendous appreciation to each of our shareholders for your continued commitment to our product and marketing strategy. We look forward to providing you with additional updates on our business development accomplishments in the next six to eight weeks.
Sincerely,
Danny Elbaz
CEO, The Mobile Star Corp.
About Mobile Star
Mobile Star has developed a free-standing entertainment vending machine that enables an individual to digitally record his or her voice singing to hundreds of songs. The patented karaoke technology utilizes a proprietary digital-media software platform, and professional-grade hardware to publish a high quality CD of the performance.
For more information on Mobile Star, please visit http://themobilestar.com.
Forward-Looking Statements
This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Mobile Star Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated. Mobile Star Corp. public filings may be viewed at http://www.sec.gov.
Contact:
CEO, Danny Elbaz
[email protected]
+972-54-465-5341
SOURCE Mobile Star Corp.
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