NEW YORK, NY -- (MARKET WIRE) -- 01/10/11 -- AmeriStarNetwork, Inc. (the "Company") (PINKSHEETS: AMWK) announced today that it has filed documents with FINRA, the securities industry regulatory body, to provide notification of corporate actions and has received from FINRA a request for additional documents; the Company expects to deliver all required documents within the next few days. AmeriStarNetwork, Inc. has negotiated the acquisition of SecurDigital, Inc., a private company that has developed significant technology in the protection of wireless transmissions from hacking and espionage, as a merger of equals. The Company and SecurDigital, Inc. will consummate the merger ten days after delivery of all information requested by FINRA, which could be in mid-January.
Among the requirements of the Merger Agreement with SecurDigital, Inc., AmeriStarNetwork, Inc. has agreed to reverse split the presently outstanding stock on the basis of two old shares for one new share, and this reverse split was approved by a majority of the shareholders of the Company on December 16, 2010, and will be effective at the time of the merger. While a majority of the shareholders of SecurDigital, Inc. have indicated a willingness to proceed with the merger, they have the right to cancel the merger if the Company has not accepted a minimum amount of subscriptions to its offering by January 15, 2011, which requires only $200,000 more in subscriptions. The Company anticipates achieving the minimum during the next ten days and closing the merger shortly thereafter.
At present, the AmeriStarNetwork, Inc. corporate offices are located in Utah, and SecurDigital, Inc. has offices in Washington, D.C., Connecticut and New York City; it is anticipated that the headquarters of the merged enterprise will be moved to New York City.
About Secur Digital , Inc.
The founders of SecurDigital, Inc. are experienced technology entrepreneurs and business professionals, possessing a breadth of functional experience in software product development, system, network integration, the marketing of emerging products, new technologies, strategic collaborating, and corporate finance.
The technology developed by SecurDigital, Inc. is unique and is a major advance in the delivery of wireless encrypted secure and interoperable communications. Eliminating the exposure of wireless communications to scanners or hackers, SecurVoice™ technology is delivered to subscribers over the Internet using the Software-as-a-Service ("SaaS") model. There are no charges for installing the SecurVoice™ software, and subscribers are charged a modest monthly subscription fee as long as they utilize the application.
SecurVoice™ technology is agnostic as to carrier, operating system and hardware, performing "Wireless Interoperability" for WiMAX and WiFi products globally. It is an unrecognizable digital transmission, hence secure or private, depending on the level of encryption, and is the world's first totally secure, wireless, digital communications "software only" solution for security and INTEROPERABILITY over wireless and VoIP communications.
Secur Digital, Inc. believes that the SecurVoice™ software, with its unique and versatile interoperable technology, is the best solution to secure voice, data, audio, video transmission, since it is designed for VoIP, wireless cell phone transmission, smart phones, satellite phones and push-to-talk (radio) units.
About Ameri Star Network, Inc.
Ameri Star Network, Inc. is a non-reporting public company listed on Pink Sheets Markets under the symbol AMWK.PK. The Company has invested in technology enterprises for over a decade and is managed by seasoned executives, most of whom have been shareholders of the Company since 2000. AmeriStarNetwork, Inc. currently holds a 20% interest in Mortgage Internet Technologies, Inc., a mortgage industry software development company founded in 1997. That company's proprietary flagship technology is called the Virtual Lender® (www.vLender.com), which completely automates the process of creating a full service online loan origination web site and business process management system for both the mortgage company and the mortgage loan originator.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of technology, opportunities for the Company and any other statements about the future expectations, beliefs, goals, plans or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of the Company's intellectual property and economic conditions generally. These statements and other forward-looking statements are not guarantees of future performance and involve risks and uncertainties. AmeriStarNetwork, Inc. assumes no responsibility to update any of the forward-looking statements in this news release. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these forward-looking statements.
Nothing in this news release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares of Ameri Star Network, Inc. in any jurisdiction.
Information about AmeriStarNetwork, Inc. is available on the Company's web site at www.ameristarnetwork.com or contact O. Russell Crandall, Chairman, by mail at the offices of the Company, by email at info@ameristar.com or call (435) 229 - 1955.
Contact:
O. Russell Crandall
Chairman
Email Contact
(435) 229-1955
Source: AmeriStar Networks, Inc.
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