DayStar Technologies (DSTI) Begins Revenue Generation by Closing the Previously Announced LOI With Avatar Solar to Purchase Operating Solar Parks in Hawaii
KELOWNA, BC -- (Marketwire) -- 01/09/13 -- DayStar Technologies, Inc.'s (NASDAQ: DSTI) Board of Directors approved the issuance of shares at two dollars per share to Avatar for its completed Hawaii projects. Total purchase price is $US850,000.
Lorne (Mark) Roseborough, DayStar's President, stated, "This transaction is representative of opportunities that we are evaluating and marks the start of a new segment of business growth for DayStar. We officially move into our first revenue stream with the completion of this transaction, we look forward to creating a long-term relationship with Avatar Solar to acquire more of their completed projects and assisting them with new ones."
Lorne (Mark) Roseborough, DayStar's President, further stated, "Our intention is to move forward on this division of our business in a very aggressive manner. Additionally, the Company's Board has approved management to pursue the licensing of its technology and equipment."
About DayStar Technologies, Inc:
DayStar Technologies, Inc. (DSTI) is a developer of solar photovoltaic products based upon CIGS thin film deposition technology and is currently embarked on a strategy of strategic partnerships to enter new markets within the global renewal energy industry including ownership and construction of solar and renewable power plants. Visit DayStar's website, http://www.daystartech.com/.
About Avatar Solar:
Avatar Solar is an alternative energy service provider, specializing in solar electric systems through sales of long-term electricity by way of Power Purchase Agreements (PPA). Avatar Solar has designed and implemented cost-effective solar electricity solutions for large scale commercial properties in both California and Hawaii. Avatar is involved in projects around the world and is currently working on more than 5 megawatts of projects.
For information contact, William J. Nalley, Orsay Groupe, 305-515-8077, Info@orsaygroupe.com.
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