SOURCE: StarInvest Group, Inc.

October 12, 2010 14:15 ET

StarInvest Group, Inc. Announces That West Texas Memorial Park Is Operational

MIDLAND, TX--(Marketwire - October 12, 2010) -  StarInvest Group, Inc., (OTCBB: STIV) is pleased to announce that West Texas Memorial Park, Inc. has received its approval from the Texas Banking Commission to began operations effective Oct. 4, 2010.

The 60.89 acre perpetual care cemetery is situated between Midland and Odessa in West Texas, serving the population of approximately 250,000. Following the foreclosure of the assets of Western Roses Memorial Park, Inc. on May 5, 2010, StarInvest formed a new corporation named West Texas Memorial Park, Inc ("WTMP") and transferred all the assets of Western Roses Memorial Park, Inc. to WTMP.

Newly licensed under the State Of Texas Perpetual Care laws, WTMP has recruited and hired Bob L. Roberts effective September 1, 2010. Mr. Roberts has over 25 years of management experience with the past 15 years concentrated in the cemetery/funeral industry. Mr. Roberts has an impressive track record as turn-around expert of memorial parks, and STIV is confident he will bring his talent to revamp operations and restore confidence in WTMP.

STIV management has been focused on building a revenue stream to support the company's infrastructure and build a solid company.

Regulatory approvals have delayed the company's ability to focus on its business lines, but the company continues to push forward. The approval of the West Texas Memorial Park is the beginning of building that long awaited revenue stream.

In addition, in September STIV purchased a commercial property site on Long Island, New York. The site has great visibility and plans are being prepared to add a building on the property. This site will serve as an additional revenue source for the company, expected to be operational in the first quarter of 2011.

About StarInvest Group, Inc

StarInvest owns and operates its subsidiary: My Transfer Agent, LLC ("MTA"), a stock transfer agency The company plans to expand the customer base of MTA has been slowed as STIV looks for a management team to unleash the value of the business. EXX.Com, an STIV investment company, remains non-operational as the EXX founder and management team resigned abruptly. STIV is evaluating options for the business i.e. legal remedies, Joint Venture or Sale.

Contact Information

  • Contact:

    Robert H. Cole
    StarInvest Group, Inc.
    Tel: 432.682.8373
    Email Email Contact