NavStar Technologies, Inc. Completes Reverse Merger with European Diversified Holdings Company.OVERLAND PARK Overland Park, city (1990 pop. 111,790), Johnson co., NE Kans., a residential suburb of Kansas City; inc. 1960. There is printing and publishing, and the manufacture of apparel, aircraft parts, cement, prepared foods, salt, chemicals, marine accessories, and signs. , Kan. -- NavStar Technologies, Inc. (PINK SHEETS: NVST), an emerging company focused on the manufacturing and distribution of safe, easy to use and affordable navigation products and services, announced today that the company completed a reverse merger with European Diversified Holdings Company. This merger was negotiated over the summer and became effective on August 1, 2007. As a result of the reverse merger, NVST shareholders will own 90% of the common stock and EDHC shares holders will own 10%. N. Douglas Pritt, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "This merger provides an opportunity to become a publicly traded entity and is the first step towards the successful long-term vision of NavStar Technologies. Our product Beta trial period, which concluded in late 2006, gave us the feedback needed to re-enter re·en·ter also re-en·ter v. re·en·tered, re·en·ter·ing, re·en·ters v.tr. 1. To enter or come in to again. 2. To record again on a list or ledger. v.intr. the GPS navigation See GPS. market with a very affordable product that is safe, hands-free, and very easy to use." He continued with, "In the U.S. there are more than 300M vehicles and only 9% of them currently have a navigation system A GPS-based electronic system in a car or truck that provides a real time map of the vehicle's current location as well as step-by-step directions to a programmed destination. See GPS and vehicle tracking. in place. One-touch navigation and valuable emergency services emergency services Emergency care '…services …necessary to prevent death or serious impairment of health and, because of the danger to life or health, require the use of the most accessible hospital available and equipped to furnish those services' at a price point that everyone can afford will allow us to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the remaining 91%. This reverse merger is providing NavStar with an opportunity to create long-term value for its shareholders and will allow us to execute the NavStar strategy of creating the 'Ultimate Wireless Accessory.' This decision was made with careful consideration to our shareholders, Company direction, and strategy; We believe this is the best course of action to follow at this time." Shareholders must contact the transfer agent to have their shares exchanged. The transfer agent can be contacted as indicated below: Corporate Stock Transfer 3200 Cherry Creek Cherry Creek may refer to:
Denver, CO 80209 Office 303-282-4800 Fax 303-282-5800 Khaughton@corporatestock.com About NavStar Technologies, Inc. NavStar Technologies, Inc. is focused on the creation of products and services that combines hands-free calling with GPS/navigation. Input for calling or requesting a route will be via the user's voice. Product features include the safety of hands-free calling, easy to use navigation via voice input and output, and the accessibility of emergency services at a very affordable price point. Maps will be updated quarterly; user's can choose to input their destinations via the Internet (NavStar server) and access them with the "touch of a button." NavStar has been a private company for over three years and has spent the majority of this time and resources developing a beta product. User input and product testing was completed in the fourth quarter of 2006. The opportunity to become a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. was accomplished in August 2007. The goal of NavStar is to become a fully reporting company in the near future. Strategic partnerships are being pursued that will greatly accelerate the time to market. The goal is to have a "second generation" product for sale by 2nd quarter 2008. The thin client/server platform affords an opportunity to create customized points of interest for a variety of customers groups, to provide unique services for the delivery/service industry and to greatly reduce the effort to expand internationally. |
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