TelcoBlue, Inc. Signs LOI With Damsonite International, LLC
Friday December 21, 8:15 AM EST
Company to Enter $62 Billion Jewelry Industry in 2008
TelcoBlue, Inc. (TBLU) is pleased to announce that the Company has signed a Letter of Intent with Damsonite International, LLC to acquire the assets of the company. This potential acquisition will enable TelcoBlue to enter the $62 billion jewelry industry starting in 2008. The Company will sell raw damsonite stones to jewelers, as well as produce finished gemstones and jewelry for sale to distributors worldwide.
Damsonite has all of the desired qualities required to be considered an exclusive "new classic." Other gems in this category are the rising stars of gemstone jewelry, including tanzanite, tourmaline, aquamarine, imperial topaz, and tsavorite garnet. These gems sell for approximately $50 to $1,000 per carat for an average to good quality one-carat cut stone. Some stones, such as tsavorite can reach upwards of $3,000 per carat. This acquisition of Damsonite International's assets will allow TelcoBlue to market this rare damsonite gemstone.
In addition to damsonite, Damsonite International, LLC sells and distributes a high quality product line of pearls, under the name Pearls by Van Tassell. Additionally, Pearls by Van Tassell has developed and marketed a specialty line referred to as "Daddy's Little Pearl," which is geared towards young girls and young women.
"We're very pleased to have signed a Letter of Intent with Damsonite International, LLC to acquire this jewelry innovator. In 2006, American consumers spent $62 billion buying jewelry and watches, posting a dramatic 6.5 percent increase over sales in 2005 of $58.4 billion," stated Jim Turek, CEO of TelcoBlue, Inc.
TelcoBlue, Inc. recently announced that the Company will be exhibiting at the upcoming International Consumer Electronics Show (CES) in Las Vegas, Nevada, from January 7-11, 2008. TelcoBlue will be exhibiting at the Sands Expo and Convention Center, where they intend to showcase "Telco TV," powered by DashSmart Technology; among other products in TelcoBlue's product portfolio.
About TelcoBlue, Inc.:
TelcoBlue, Inc.'s mission is to develop and acquire undervalued companies that have innovative technology that will potentially increase the growth of the Company. TelcoBlue, Inc. continues to seek out and capitalize on emerging technologies that will change the electronics community.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations and the ability of the Company to manage its operations.
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