Mobile Star Corp., a developer of karaoke vending machines, published the following letter from CEO Danny Elbaz to all shareholders. The letter expresses the company’s commitment to the commercial introduction of the Mobile Star personal karaoke experience over the next six months.
Dear Shareholders,
The Mobile Star has continued to make positive strides during the first three quarters of 2010. Most recently, the company has secured the required financing to continue funding ongoing business operations, and to meet the commercial goals of the company over the next six months.
The financial agreement calls for the financier to provide the Mobile Star with multiple tranches during the company’s pre-commercial period.
During the next two quarters, the company is planning the full commercial introduction of the Mobile Star personal karaoke vending machine. We believe that there is a significant market for our entertainment system, as demonstrated by the company’s successful pilot at the start of 2010.
Our team is fully committed to reaching our product’s full commercial potential, in the United States as well as in several international markets. We are confident that through our continued efforts to advance our business development goals, that the stock price of the company will grow to match our full potential.
I wish to express my tremendous appreciation to each of our shareholders for your continued commitment to our product and marketing strategy. We look forward to providing you with additional updates on our business development accomplishments in the next six to eight weeks.
Sincerely,
Danny Elbaz
CEO, The Mobile Star Corp.
For more information on Mobile Star, please visit www.themobilestar.com.
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