AmeriStar Network, Inc.
(the "Company") (PINKSHEETS: AMWK) announced today that it has
filed documents with FINRA, the securities industry regulatory
body, to provide notification of corporate actions and has received
from FINRA a request for additional documents; the Company expects
to deliver all required documents within the next few days.
AmeriStar Network, Inc. has negotiated the acquisition of
SecurDigital, Inc., a
private company that has developed significant technology in the
protection of wireless transmissions from hacking and espionage, as
a merger of equals. The Company and
SecurDigital, Inc. will
consummate the merger ten days after delivery of all information
requested by FINRA, which could be in mid-January.
Among the requirements of the Merger Agreement with SecurDigital, Inc., AmeriStar Network, Inc. has agreed to reverse split the presently
outstanding stock on the basis of two old shares for one new share,
and this reverse split was approved by a majority of the
shareholders of the Company on December 16, 2010, and will be
effective at the time of the merger. While a majority of the
shareholders of SecurDigital, Inc. have indicated a willingness to proceed
with the merger, they have the right to cancel the merger if the
Company has not accepted a minimum amount of subscriptions to its
offering by January 15, 2011, which requires only $200,000 more in
subscriptions. The Company anticipates achieving the minimum during
the next ten days and closing the merger shortly thereafter.
At present, the AmeriStar Network, Inc. corporate
offices are located in Utah, and SecurDigital, Inc. has offices in
Washington, D.C., Connecticut and New York City; it is anticipated
that the headquarters of the merged enterprise will be moved to New
York City.
About SecurDigital,
Inc. The founders of SecurDigital, Inc. are experienced technology entrepreneurs
and business professionals, possessing a breadth of functional
experience in software product development, system, network
integration, the marketing of emerging products, new technologies,
strategic collaborating, and corporate finance.
The technology developed by SecurDigital, Inc. is unique and
is a major advance in the delivery of wireless encrypted secure and
interoperable communications. Eliminating the exposure of wireless
communications to scanners or hackers, SecurVoice™ technology is delivered to subscribers over
the Internet using the Software-as-a-Service ("SaaS") model. There
are no charges for installing the SecurVoice™
software, and subscribers are charged a modest monthly subscription
fee as long as they utilize the application.
SecurVoice™ technology is agnostic as to
carrier, operating system and hardware, performing "Wireless
Interoperability" for WiMAX and WiFi products globally. It is an
unrecognizable digital transmission, hence secure or private,
depending on the level of encryption, and is the world's first
totally secure, wireless, digital communications "software only"
solution for security and INTEROPERABILITY over wireless and VoIP
communications.
SecurDigital, Inc.
believes that the SecurVoice™ software, with
its unique and versatile interoperable technology, is the best
solution to secure voice, data, audio, video transmission, since it
is designed for VoIP, wireless cell phone transmission, smart
phones, satellite phones and push-to-talk (radio) units.
About AmeriStar Network, Inc. AmeriStar Network, Inc. is a
non-reporting public company listed on Pink Sheets Markets under
the symbol AMWK.PK. The Company has invested in technology
enterprises for over a decade and is managed by seasoned
executives, most of whom have been shareholders of the Company
since 2000. AmeriStar
Network, Inc. currently holds a 20% interest
in Mortgage Internet Technologies, Inc., a mortgage industry
software development company founded in 1997. That company's
proprietary flagship technology is called the Virtual Lender®
(www.vLender.com), which completely automates the process of
creating a full service online loan origination web site and
business process management system for both the mortgage company
and the mortgage loan originator.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and
operating results, future growth in research and development
programs, potential applications of technology, opportunities for
the Company and any other statements about the future expectations,
beliefs, goals, plans or prospects expressed constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any statements that are
not statements of historical fact (including statements containing
the words "will," "believes," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also be considered to
be forward-looking statements. There are a number of important
factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements,
including limited operating history, need for future capital, risks
inherent in the development and commercialization of potential
products, protection of the Company's intellectual property and
economic conditions generally. These statements and other
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties. AmeriStar Network, Inc. assumes no responsibility to update any
of the forward-looking statements in this news release. Neither the
Company nor any other person assumes responsibility for the
accuracy or completeness of these forward-looking statements.
Nothing in this news release should be
construed as either an offer to sell or a solicitation of an offer
to buy or sell shares of AmeriStar Network, Inc. in any
jurisdiction.
Information about AmeriStar Network, Inc. is available
on the Company's web site at www.ameristarnetwork.com or contact O.
Russell Crandall, Chairman, by mail at the offices of the Company,
by email at info@ameristar.com or call (435) 229 - 1955.
Contact: O. Russell Crandall Chairman Email Contact (435)
229-1955
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