SOURCE: BlueStar Health, Inc.

September 13, 2007 09:33 ET

BlueStar Health Brings All Filings Up-to-Date. Now Fully in Compliance With SEC Filing Requirements

SUGAR LAND, TX--(Marketwire - September 13, 2007) - BlueStar Health, Inc. (PINKSHEETS: BLSH) announced today that the Company has completed the filing of all information necessary to bring BlueStar Health into compliance with SEC filing requirements and make the Company eligible for re-listing on the OTC Bulletin Board.

BlueStar has filed a Form 10-KSB, its financial information for the period ending September 30, 2006, as well as Form 10-QSBs for the quarters ending December 31, 2006, March 31, 2007 and June 30, 2007 with the SEC. These completed filings represent a critical component in BlueStar shares being eligible for re-listing on the OTC Bulletin Board. Additionally, the completion of these filings enables the Company to move forward with its previously announced plans to merge with Zeon Fuel, Inc. within the next 30 days, pending shareholder approval.

Zeon Fuel, Inc. was formed in 2006 to purchase bio-diesel fuel from producers, facilitate its blending with traditional petroleum based diesel fuels and distribute the blended product primarily through retail outlets. Currently Zeon Fuels has contracts with eight locations in the Houston, Texas area that collectively generate over $2,000,000.00 per month in revenue from sale of fuels and convenience store items.

BlueStar Chief Executive, Richard Greenwood, commented, "It has been a long road, but we are delighted to say that the company is finally in a position to be re-listed to the Bulletin Board, and of equal importance, to close the transaction with Zeon Fuel, Inc." He continued, "The emergence of powerful 'environmentally sustainable' and 'green' movements has created an opportunity to profit by the confluence of these movements and the ever-growing global need for energy. Zeon Fuel's potential revenue base, profitability and strategic market positioning with significant growth opportunity will create a win-win for the environment and BlueStar shareholders. We look forward to being a part of this story going forward."

As a matter of formality, BlueStar management also announced that the final settlement agreement with Gold Leaf Homes, Inc. has been signed and completed. Bluestar Health attempted to acquire the assets of Gold Leaf Homes in 2006, however for various reasons the transaction became impracticable and the transaction was rescinded. No Gold Leaf assets were transferred to BlueStar, no shares were issued to Gold Leaf Homes or related parties and the matter is now closed.

About BlueStar Health

BlueStar Health has determined the emerging bio-fuel industry offers an opportunity to long-term build shareholder value. The Company has identified Zeon Fuel, Inc., as a bio-diesel company, through which it can profitably enter the bio-diesel market. Zeon was formed in 2006 to purchase bio-diesel fuel from producers, facilitate its blending with traditional petroleum based diesel fuels and distribute the blended product primarily through retail outlets. Currently Zeon has management contracts on eight locations in the Houston area. Collectively these locations generate over $2,000,000 a month in revenue from sale of fuels and convenience store items.

Forward-Looking Statements

This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provisions of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future events or transactions, sales of products or performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to complete the transactions, which remain subject to various contractual contingencies, successful completion of negotiations related to the Gold Leaf Homes rescission, completion of due diligence investigations, obtaining shareholder and any regulatory approvals, having necessary financing in time to meet contractual obligations, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's current and future filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.

Contact Information

  • FOR FURTHER INFORMATION, please contact:

    Richard Greenwood
    President
    BlueStar Health, Inc.
    1 (281) 207-5487