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Joystar Announces $6 Million Equity Financing
IRVINE, Calif., April 22 /PRNewswire-FirstCall/ -- Joystar, Inc. (BULLETIN
BOARD: ARGT) announced today it has entered into an agreement for a $6 million
institutional financing with a London-based investment company. The
transaction will significantly increase the Company's balance sheet as well as
provide cash-flow opportunity to meet the Company's expansion goals. Terms of
the Equity Private Placement will be disclosed in the Company's public filings
and financial statements.
"We expect to use the proceeds of this financing to positively impact our
operations, significantly increase our sales and marketing activities as well
as qualify for the Company's planned application for listing on the American
Stock Exchange. We are very excited about this financing and the support and
confidence that the investor has provided us," stated William Alverson,
Joystar's CEO.
"This agreement is another significant step in management's focus on improving
working capital and providing the fuel for Joystar's objectives in terms of
growth, and profitability," said William Alverson, CEO. "Upon closing, we will
have the ability to take advantage of attractive acquisitions and partnering
opportunities. It will allow us to expand into new sources of revenue,
increased market awareness, new products, and additional sales channels. We
look forward to realizing all the benefits this can provide the Company, our
shareholders and our growing network of affiliates and Home-Based travel
agents.
About Joystar, Inc.
Joystar provides online and offline travel services for the leisure and small
business traveler. Through the Company's web site http://www.joystar.com/,
millions of web-savvy travelers can research and book air, car, hotel,
vacations and cruises. Joystar's Travel Rewards Program,
(http://www.joystar.com/travelrewards) is the largest in the industry in terms
of participating suppliers offering the tens of millions of Web-connected
travelers deep discounts, cash rewards, and the ability to earn free travel.
The Company also develops and markets partner opportunities (see
http://www.iamatravelagent.com/) that empower people from all walks of life to
become Home-Based Travel Agents. Joystar provides its independent agents with
all of the training, tools and back office support allowing them to operate a
successful full-time or part-time business. In addition to the commissions
earned, Joystar's national sales force of independent agents may earn access to
all of the "perks and benefits" of being a travel professional including "Agent
Only" discounts and courtesy upgrades, stock options, Solo 401K and 529 plans.
Safe Harbor Act
Statements contained in this press release, which are not historical facts, are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are based
largely on the Company's expectations and are subject to a number of risks and
uncertainties beyond the Company's control, including but not limited to
economic, competitive and other factors affecting the Company's operations,
management team effectiveness, expansion strategies, available financing,
market prices and recovery costs, government regulations involving the Company,
facts and events not known at the time of this release, and other factors
discussed in the Company's filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this release. The Company undertakes no
obligation to update publicly any forward-looking statements.
For further information, please contact: William Alverson of Joystar, Inc.,
+1-949-837-8101, .
DATASOURCE: Joystar, Inc.
CONTACT: William Alverson of Joystar, Inc., +1-949-837-8101,
Web site: http://www.iamatravelagent.com/
Web site: http://www.joystar.com/travelrewards
Web site: http://www.joystar.com/