7 Star Entertainment Inc. Announces FINRA Approval for Public
Market Trading of Its Common Stock
FORT LAUDERDALE, Fla.,
Nov. 6, 2012 /PRNewswire/ -- 7 Star
Entertainment Inc. (OTC Markets: SAEE). Today, the management team
of 7 Star Entertainment Inc. (7 Star), a premiere online social
networking and social media company, is proud to announce that
FINRA has approved 7 Star's common stock for trading in the public
markets and issued 7 Star the stock symbol "SAEE", effective
April 10th, 2012.
7 Star Entertainment has now completed all necessary filings
with OTC Markets to trade on the OTC Pink including current
financial statements, a quarterly report for the period ended
June 30, 2012, annual reports for
2010 and 2011, updated disclosure statements, and other pertinent
documents. These filings are available for review on
www.otcmarkets.com. Also, 7 Star expects to apply for Depository
Trust & Clearing (DTC) eligibility in the coming weeks.
"As a rapidly growing company in a nascent space with an
expanding addressable market, the advantages of being public were
simply too great for us to ignore," commented 7 Star founder and
Chief Operations Officer Joseph Daleo
Jr. "We started this process back in 2010, and while it's
not been easy, it's clearly been worthwhile. Our flagship
AdultMatchClub.com property and other adult social networking
websites continue to attract visitors as we leverage our proven
business model and expand our focus to mainstream social media,
cable TV, and mobile applications. We look forward to announcing
new online and mobile properties in the coming weeks."
"With a publicly-traded stock, we now have another currency
beyond cash to pursue mergers and acquisitions to diversify into
other strategic areas of e-commerce," stated 7 Star Chief Executive
Officer and Director Carl J. Conte.
"We have already identified several potential acquisition
candidates that appear to fit strategically with our current
portfolio and growth strategy beyond the adult networking
space."
7 Star owns and operates a growing portfolio of online dating
web properties along with complementary online bidding, video, and
affiliate traffic websites, supported by a range of mobile
e-commerce applications such as location based services, mobile
checkout, and credit card processing. For more information on 7
Star Entertainment, Inc. please visit the company website at
http://www.7StarEnt.com.
SAFE HARBOR STATEMENT
This press release 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 (the "Exchange Act"), and as such, may involve risks and
uncertainties. Forward-looking statements, which are based on
certain assumptions and describe future plans, strategies, and
expectations, are generally identifiable by the use of words such
as "believe," "expect," "intend," "anticipate," "estimate,"
"project," or similar expressions. These forward-looking statements
relate to, among other things, expectations of the business
environment in which the Company operates, projections of future
performance, potential future performance, perceived opportunities
in the market, and statements regarding the Company's mission and
vision. The Company and all affiliated parties do not assume any
duty to publicly update or revise the material contained
herein.
SOURCE 7 Star Entertainment Inc.