International Star, Inc. Issues Corporate Update
16 November 1999
International Star, Inc. Issues Corporate Update
LAS VEGAS--Nov. 16, 1999--International Star, Inc. (OTCBB:ISRI):Major Purchase Order -- Exceeds $11,000,000
The Company has received its first purchase order from American Consolidators. The order is to equip 1,000 tractors and 5,000 trailers for their trucks operating out of Los Angeles, California and Las Vegas, Nevada. The gross value of this initial order exceeds $11 million.
This significant order gives the company strong initial penetration into the lucrative Los Angeles and Las Vegas markets.
This transaction was strongly influenced by Qwiktrack's(R) strong product performance and leasing price point strategies.
This is merely an initial purchase order, which may be significantly expanded in the future as dictated by customer need and satisfaction with the product.
Sales Financing
Qwiktrack is negotiating lease arrangements with American Leasing, LLC of Las Vegas, Nevada. These arrangements will enable Qwiktrack to discount our leasing contracts and operate on a cash flow basis. This will enable The Company to grow without the need for additional capital and unacceptable stock dilution.
Further Business Developments
Qwiktrack's strategic plan calls for selling approximately 10,000 tractor units and 25,000 trailer units in fiscal 2000. We are currently negotiating distribution with two major entities capable of generating North American sales sufficient to meet our goals.
We are also negotiating two major joint venture agreements, one for England and one for the Middle East. If successful, these agreements will add significant additional cash flow from both the buy-in-fees from the Joint Ventures as well as the extra leasing and monitoring income.
American Towman Exposition
Qwiktrack has been invited by the National Towing Alliance to demonstrate our product on Nov. 19-21, 1999, to the attendees of the Exposition. 22,000 companies will attend representing 200,000 tow operators.
This represents a wonderful opportunity for us to show off our product, establish recognition in the industry and cultivate potential sales.
Qwiktrack is working with the National Towing Alliance to develop a program for their membership that will provide local and national dispatching, insurance premium reductions, mileage reductions, operating cost reductions and consumer acceptance by providing quicker response time per unit dispatched.
Service
Qwiktrack is negotiating a contract with a national service provider to install and service our units anywhere in North America.
Fully Reporting Status
The Company's attorneys and accountants continue moving forward with this time consuming process. We anticipate completing and submitting this filing by Dec. 31, 1999.
Qwiktrack Server
Computer engineers are progressing nicely with their server beta test procedures. Once successfully tested, the site will be accessible anywhere in the World via the internet.
The Qwiktrack.com site will provide the following functions:
1) Real time vehicle/asset tracking demonstrations
2) Sign up procedures/contracts
3) Corporate Updates
4) E Commerce- Credit Card/Automatic Bank withdrawal for leases
5) Complete down loading of customer function performance
Conclusions:
The Corporate Executive Board is very pleased with our rapid growth and development since shifting our focus to Qwiktrack merely 4 months ago.
We are positioning the Company to take full advantage of Qwiktrack's enormous sales opportunities in:
1) The Trucking Sector -- estimated 1.3 million tractors and 5-10
million trailers
2) The Towing Industry -- estimated 200,000 trucks
3) The Auto Industry -- estimated 100 million units
4) Personal Use -- unlimited potential (children, elderly,
military, etc.)
The above represents merely the North American market. With Qwiktrack's intended international expansion, our opportunities are endless.
Reputable industry analysts predict that by the year 2003, almost every vehicle in North America will be equipped with a vehicle location system. We intend to capture significant market share from this trend.
Through diligent marketing strategies, quality service, creative financing plans and superior products, we believe we can achieve our goal of becoming an industry leader.
Note: Safe harbor for Forward Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand, market compensation, risk inherent in the company's international operations, imprecision of reserve estimates and the company's ability to replace and expand reserves.