SRUN- 1 HOUR LEFT TO OWN..
SPAM TIME,BUT FOR EVERYBODIES GOOD I HOPE..
(BSNS WIRE) Staruni to Distribute ibargain.com Stock to Shareholders
Staruni to Distribute ibargain.com Stock to Shareholders
Business & Technology Editors
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Sept. 27, 1999--Staruni
Corp. (OTC BB:SRUN) announced that it had authorized the distribution
of 1 share of ibargain.com for each 2 shares of Staruni held; no
fractional shares will be issued.
Fractional shares will be paid out at $4 per share. The
distribution will be made on November 15, 1999, to shareholders of
record on October 21, 1999.
This distribution of shares by Staruni will be in the form of a
dividend to its shareholders.
Staruni is a 100% owner of ibargain.com. Staruni will be
distributing 30% of its shares to its shareholders, as well as an
additional 15% to private investors.
At this time, the Company makes no opinion regarding the tax
consequences. The Company suggests that independent tax advice
concerning this distribution be obtained.
ibargain.com was formed as a bargain retailer on the World Wide
Web. It plans to develop an auction site as well as a "price-search"
site.
Staruni Corporation, based in Southern California, provides
Internet access and e-commerce solutions to both individual and
business users. Staruni is aggressively expanding its customer base
through the acquisition of existing providers, as well as strategic
alliances with e-commerce companies
Staruni is presently developing various e-commerce sites. They
include officewarehouse.com, an on-line office supply store;
igold.com, an on-line jewelry store; loveandmarriage.com, a wedding
registry site; casinodirectory.com, a cyber-guide to domestic and
international gaming; and whattup.com, a "Yahoo"-type portal.
On Sept. 23, 1999, Staruni announced that it will be filing a
Form 10 with the SEC in the next 30 days and will then be a fully
reporting company.
The release herein may contain or identify forward-looking
statements. These statements are based on a number of assumptions and
estimates that are inherently subject to uncertainty and
contingencies, many of which are beyond the control of the company and
reflect future business decisions that are subject to change.
--30--ECQ/la* AJE/la
CONTACT: Staruni Corp., Beverly Hills
Bruce D. Stuart, 310/358-2340
Fax: 310/358-2344
www.cyberhotline.com and www.staruni.com
webmaster@staruni.com
KEYWORD: NEVADA CALIFORNIA
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET COMED
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