Hit .40 today.
Tuesday February 1, 1:55 pm Eastern Time
Company Press Release
Starfest, Inc. to Submit Merger Plan to Shareholders
PALM SPRINGS, Calif.--(BUSINESS WIRE)--Feb. 1, 2000--Starfest, Inc. (OTCBB:SFST - news) today announced that it will soon submit to its shareholders, for a vote, a proposal to merge with Concierge, Inc.
Under the terms of the agreement signed Jan. 27, 2000, shareholders of Concierge, Inc. will receive 78 million shares of Starfest, Inc. common stock in exchange for all of the capital stock of Concierge, Inc.
An additional 9 million shares of Starfest, Inc. common stock will be available to management for general and other corporate purposes. Starfest, Inc. had 23 million shares outstanding prior to the merger.
Allen E. Kahn will act as CEO of the combined company, Patrick Flaherty will be Executive Vice President. The combined company will have headquarters in Los Angeles. The company is considering changing the company's current name to more accurately reflect its business operations.
Concierge, Inc. was founded by Kahn to design, develop, market and support a new class of unified messaging products. These products integrate voice technology and pioneering software as a solution to the remote access needs of Internet e-mail, fax and voice mail users.
The company is preparing to introduce a software package (the Personal Communications Attendant, or PCA) that will enable Internet e-mail users to have e-mail, received on their personal computers, read to them over any telephone as instructed by the user's voice commands. This product is expected to be introduced into the personal communications market in 30 days.
Concierge plans continuing enhancements to the core product (PCA), including foreign language versions, and has additional unique products in the final stages of development.
Except for the historical information contained herein, the matters set forth in this release are forward-looking statements within the meaning of the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof. Starfest, Inc. disclaims any intent or obligation to update these forward-looking statements.
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Contact:
Starfest, Inc.
John Everding, 925/243-9099
sales@pcahome.com
www.pcahome.com
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