SOURCE: NavStar Technologies, Inc.

NavStar Technologies, Inc.

February 09, 2010 09:00 ET

NavStar Technologies Inc. Will Complete Requirements for Pink Sheet Current Information in 1st Quarter 2010

ANAHEIM, CA--(Marketwire - February 9, 2010) - NavStar Technologies, Inc. (PINKSHEETS: NVSR), a firm focused on developing and commercializing multi-national asset tracking and monitoring devices for vehicles and high value cargo, is pleased to announce that it has begun the progress of auditing 2008 and 2009 company records to meet all of the Pink Sheet legal and accounting requirements necessary to move up from Limited Information to Current Information status.

By the end of the first quarter 2010, all shareholders will be able to view NavStar's Initial Company Information and Disclosure Statement, as well as other financial associated documents that are required to achieve Current Information Status with Pink OTC Markets, Inc.

According to Pink OTC Markets, securities of Pink Sheet companies that provided current disclosure to the public markets represented 80.2% of all the dollar volume traded in 2009. The average dollar volume per security in 2009 has averaged $81,259,055, for securities that obtained Current Information Status with Pink OTC Markets, compared to $745,812, which is the average dollar amount per security with No Information.

N. Douglas Pritt, Chairman & CEO of NavStar Technologies, Inc., stated, "I believe that the effort underway to 'upgrade' from limited reporting to current reporting demonstrates our commitment to shareholders and is the first of many efforts to position NavStar for greater levels of success in 2010. The field trails and 'in country' testing we completed in Ecuador this past year has positioned us for significant product revenue in 2010."

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS -- The statements which are not historical facts contained in this news release are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, exploration activities, the impact of competitiveness, the effect of economic conditions and other uncertainties.

About NavStar Technologies, Inc.

NavStar (www.navstarinc.com) is focused on the creation of products and services that provide tracking and monitoring of vehicles and high value cargo, equipment, and other valuable and personal assets.

Contact Information

  • CONTACT:
    NavStar Technologies, Inc.
    Patrick Bannister
    714-502-6900
    Email Contact