LAS VEGAS, NV--(Marketwire -05/23/12)- Blue Star Opportunities Corp. (The "Company") (BSTO.PK) announces today that it is expecting its revenues for the quarter ending June 30th 2012 to reach $1M dollars based on its current half way position, having already shipped half a million dollars worth of goods. Both cash flow and bottom line will be in positive territory.
These figures allow the Company to provide further guidance regarding year end revenue which is now expected to reach the $5 million mark, based on both current operations plus 6-month revenue from 3 new factory outlets that will be opening in the next 12 weeks.
The first of the three factory outlets has been signed and will be opening at the beginning of July in a prime location in the Montreal area under the Duro Design banner. Located in one of the busiest commercial centers in North America, Le Quartier DIX30, the new outlet will benefit from high traffic but also from the same Google Ad Work program which has proven so successful in our other factory outlet. The Company is on track with its core plan to open a dozen such stores in fiscal 2013 that could add as much as an additional $20M dollars to the current top line.
The company is in the process of securing a revolving credit facility to provide ongoing financing of initial leasehold and operations for new factory outlets. All new stores will be financed from operations, supplier credit and operating loans. Q2 results will be released in August.
Finally, a decision has been made in the interest of supporting share value for all investors. Controlling shareholders will be reducing their holding in the company by returning to the treasury some 70 million shares, bringing down the issued and outstanding to the 40 million share range. This share cancelation will be completed before the end of the quarter.
ABOUT BLUE STAR
Blue Star Opportunities Corp. is a supplier of environmentally friendly components used in renovation and construction of family homes, commercial and retail space, and multi-unit dwellings. Its products include materials for housing parts that are traditionally made of wood. It is now a leader in LEED certified bamboo and cork flooring offered in hundreds of beautiful hand finished colors offered at factory prices. The Company's policy is to offer to its clients LEEDS-validated materials from renewable resources in order to service the growing market of consumers and end-users who are demanding green products for their homes and projects.
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.