SOURCE: PharmStar Pharmaceuticals, Inc.

March 25, 2011 13:00 ET

PharmStar Pharmaceuticals to Attain "Current Information" Status on the OTC Markets

Historical Financial Statements Filed at OTCMarkets.com

ROCKY MOUNT, NC--(Marketwire - March 25, 2011) - PharmStar Pharmaceuticals, Inc. (PINKSHEETS: BMGI) (formerly known as Big Star Media Group, Inc.) ("PharmStar"), a U.S. drug developer, manufacturer and marketer of the FDA-approved, Over-the-Counter (OTC) liquid pain reliever Aquaprin™, announced today that it has filed the required historical financial statements to bring the Company's reporting status current. To access the filings, visit www.OTCMarkets.com/stock/BMGI/financials.

This completed filing will allow the Company to attain "Limited Information Status" with the OTC Markets in the coming days. Furthermore, the Company intends to provide the OTC Markets with the requisite attorney letter that will establish its "Current Information Status" on the OTC Markets within the next two weeks. In addition, PharmStar will be making a series of disclosures and updates over the coming weeks. With these filings complete, the Company can achieve "Current Information" status on the OTC Markets.

Howard Phykitt, PharmStar Chairman and CEO, said, "The Company is on an expedited path to move to 'Current Information' status within the next two weeks. PharmStar will adhere to the highest levels of full disclosure and transparency. As result, we are better positioned to attract institutional-quality investors and enhance liquidity for our shareholders."

PharmStar also announced the appointment of Monte Waldman, CPA, Internal Comptroller and Auditor, as its Chief Financial Officer. Mr. Waldman is a CPA in the State of Maryland and has been on the Board of Public Accountancy since 1996. He specializes in professional tax preparation and reviews, beginning his career with Peat Marwick, LP's medical accounting profession office in Florida. Mr. Waldman graduated from Albany School of Business in 1989 with a Bachelor of Science in Economics, Business Administration, and Accounting and a Master's in Accounting, specializing in Cost-Benefit-Analysis (CBA). His CBA solution systems were deployed on various Federal and State Ecosystem and River Restoration plans in Georgia, New York, and Florida.

Mr. Phykitt added, "We are pleased to appoint Mr. Waldman as our CFO. His specific medical accounting experience, combined with his leadership in specialized government programs and services, adds years of valuable experience to our management team."

About PharmStar Pharmaceuticals, Inc.

PharmStar Pharmaceuticals, Inc. is a U.S.-based drug development, manufacturing and marketing company and the innovator of Aquaprin™, an FDA-approved Over-the-Counter (OTC) liquid pain reliever. In development since 1993 with over $3 million invested to-date, Aquaprin™ is a liquid derivative of aspirin based on a patent-pending formula. The product is designed to dissolve nearly instantly in just 1.5 ounces of water, which can be absorbed into the bloodstream up to 10 times faster than traditional OTC pain relievers, and with little to no stomach upset. PharmStar's headquarters are located in Rocky Mount, NC. For more information, visit www.pharmstarinc.com.

Forward-Looking Statements Disclosure

This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "will," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

Contact Information