USA: East Coast Beverage Corp. merges with Star Talk Holdings, Inc.
Alex Garabedian, President of East Coast Beverage said, "The strategic business plan for East Coast will be accelerated in growth by several years and the financial benefits to the combined companies are too numerous to mention in this release." In addition, Garabedian stated, "We expect the economies of the merger to kick in immediately and drastically reduce our burn rate getting East Coast to profitability as early as January 2001."
Chief Executive Officer and Chairman of Star Talk Holdings, Jack Namer, a former consultant for East Coast Beverage Corp., is quoted as saying, "Our merger with ECBV is exactly the opportunity we were seeking to assist us as we move forward from an already profitable position as a telecom provider to the forefront as a national host of affinity web-sites and virtual ISP's." The Company's telecommunications division reported $5.8 million in revenues with gross profits in excess of 50% for the year ending October 31, 2000." Namer added, "Cross promotion of our products by utilizing ECBV's demographics and projections of shipping 75,000,000 bottles in 2001, will greatly assist in accelerating StarTalk's business model.
The combined entities will apply for NASDAQ listing.
The Company has planned to host a shareholders conference call on Wednesday, November 8th at 4:15 p.m. EST. To participate please dial 1-800-482-5547.
About Star Talk Holdings, Inc.
Star Talk Holdings, Inc. was founded in November 1999. The Company operates three subsidiaries: StarTalk ISP (WeTalk4U.com), an Internet Service Provider; StarTalk, Inc. and FoneTalk Inc. which are both aggregators (resellers) of wholesale network phone time with long term contracts with AT&T and MCI/WorldCom. StarTalk is the provider of prepaid telecommunication and future ISP services for WeMedia, Inc., the leading affinity group for the 54 million disabled with $1 trillion in annual buying power.
About East Coast Beverage Corp.
Based in Coral Springs, Florida, East Coast Beverage Corp., develops, produces and distributes Coffee House USA(TM), a proprietary line of all natural, ready-to-drink bottled coffee drinks. Currently, the Company produces eight flavors that include Coffee, Hazelnut Mocha, German Chocolate, Vanilla Mousse, Toasted Almond and Banana's Foster. For more information, visit www.coffeehouseusa.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this new release (as well as information included in oral statements or other written statements made or to be made by East Coast Beverage Corp.) contain statements that are forward-looking, such statements related to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of East Coast Beverage Corp. For a description of additional risks and uncertainties, please refer to East Coast Beverage Corp. filings with the Securities and Exchange Commission, including Forms 10K and 10Q.
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