Did anyone see this???
SFST
Rebounding chart
Monday January 24,
8:27 am Eastern Time
Company Press Release
Concierge, Inc. Signs Interim Merger Agreement With Starfest, Inc.
LOS ANGELES--(BUSINESS WIRE)--Jan. 24, 2000--Starfest, Inc. (OTCBB:SFST - news) announces merger agreement signed by Concierge, Inc.
Statement by Mr. Allen Kahn, President of Concierge, Inc. and soon-to-be President of Starfest, Inc.:
I look forward to fulfilling my responsibilities to the Starfest shareholders. With this merger, every share of Starfest will become a share in Concierge. In Concierge, I'm sure you will share my excitement and confidence in our company's future.
Concierge has identified a market with great commercial potential. It is bringing to market a unique product line designed to capitalize on the growing demand in the emerging field of unified messaging. This market is expected to produce $6 billion in annual revenues by the year 2001. Concierge's Personal Communications Attendant (PCA(TM)) uses proprietary personal computer software, telephony and Internet technology to provide a means by which any user of Internet e-mail can have e-mail messages spoken to him or her over any touch-tone telephone or wireless phone in the world.
The PCA(TM) responds to the user's voice commands to read, verbalize and manage e-mail traffic stored on a personal computer. The PCA(TM) is ``trained' to respond only to the voice commands and personal voice password of the individual user, thus guaranteeing that each user's personal messages cannot be accessed by anyone else. Responding to spoken instructions, the PCA(TM) can verbalize e-mail with fax and voice-mail capabilities over the phone and save or delete those messages as directed by the user. Even more exciting, the user, by voice command, over the telephone, can cause e-mail messages to respond to the e-mail messages accessed by telephone.
As of early 1999, there were estimated to be over 250 million e-mail users worldwide, a number which is growing rapidly. As to the domestic market, the September 15, 1997, edition of Business Week reports, ``Last year there were more than 40 million e-mail users in the U.S. churning out more than 150 million messages a day... By 2003 that could reach more than 200 million users, creating a staggering 7 billion messages a day... A substantial majority of this group are potential users of Concierge's current products planned for release within the next 30 days. Concierge plans an aggressive, direct-mail and Internet-marketing campaign to introduce and promote the PCA(TM).
Two communication analysts, one with Forrest Research and the other with Yankee Group, indicate that Web-enabled phones are expected to attract 58 million users by 2002. Microsoft, Ericcson, America Online, etc., are amid a fierce scramble to gain an early lead in the market for wireless Internet devices. Concierge's PCA(TM) is here now. It is so affordable that every person will be able to call his or her PC, listen to his or her e-mail messages while, say, driving to college or taking the kids to school, and by voice commands respond to the sender by e-mail. All a person needs is $39.95 to purchase the e-mail version and a personal computer running Windows 95 or 98. In ten minutes time one is ready to receive one's e-mail from anywhere in the world. With a $19.95 upgrade, the pro version monitors and collects fax, voice mail and e-mail messages. There will be no monthly service fee. No device other than an ordinary telephone is required. The PCA(TM) also includes a feature (auto page) that automatically notifies the user by phone or pager when new e-mail is received.
The PCA(TM) will be marketed directly over the Internet and through a network of resellers. Considering direct product costs including royalties, the company projects a gross profit margin of approximately 80% to 90% from direct sales. Retail pricing should be higher in most foreign countries, thereby increasing distributor margins outside the domestic market. Estimated gross revenue in the first year is $20 million.
Finally, the company is in the process of ``nationalizing' the product to accommodate several foreign languages, including Japanese, Korean, German, Latin American Spanish, French and Brazilian Portuguese.
We look forward to a successful year.
Allen E. Kahn, President Concierge, Inc.
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.
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Contact:
Starfest, Inc.
Michael Huemmer, 480/551-8285
or
Concierge, Inc.
John Everding, 925/243-9099
sales@pcahome.com
Web site: pcahome.com |
