Earlier this month, Mobile Star Corp. CEO Danny Elbaz issued a shareholder letter to investors, emphasizing the company’s commitment to the commercial introduction of the Mobile Star personal karaoke experience over the next six months.
The Mobile Star has made great progress so far this year, recently securing the required financing to continue funding ongoing business operations and meet commercial goals during the next six months. The financial agreement calls for the financier to provide multiple tranches during this pre-commercial period.
Over the next two quarters, the company will be focused on the full commercial introduction of the Mobile Star personal karaoke vending machine. The company believes that there is a significant market for the entertainment system, as clearly indicated by the successful pilot executed earlier this year.
Mr. Elbaz assured investors that the team is fully committed to attaining their product’s full commercial potential in the United States in addition to several international markets. He remains confident that through continued efforts to meet further business development goals, the stock price of the company will grow to match its full potential.
In closing, Mr. Elbaz expressed his “tremendous appreciation” to each of the shareholders for continued support of the company’s product and marketing strategy. He also promised additional updates on business development achievements in the next six to eight weeks.
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