NEWS..this came on my AOL news
Starfest, Inc. Announces Reorganization
PALM SPRINGS, Calif.--(BUSINESS WIRE)--April 7, 1999--Starfest, Inc. (OTC BB: SFST), a Hollywood, California, entertainment company previously known for its country-western music theme events, has sold a controlling interest in the company to investors based in Virginia and Las Vegas, Nevada, announced Michael Huemmer, a director of Starfest.
"The new management will be headed by Bruce Martin, now of Roanoke, Virginia, the new president," said Huemmer. "Starfest's business will be redirected to a new approach to adult entertainment on the Internet. Mr. Martin and his group are successful and experienced operators of gentlemen's clubs. They are building a Web site and organizing a coast-to-coast coalition of gentlemen's clubs. Starfest will offer entertainment originating at these clubs to adult subscribers on the Internet. We expect the Web site to be completed and the new business to be in operation within 60 days."
Except for the historical information contained herein, the matters set forth in this press 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.
CONTACT:
Starfest, Inc.
Michael Huemmer, 760/320-3128
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