Originally posted by stocktrader22:
Its not moving though
VANCOUVER, BC--(MARKET WIRE)--Jun 29, 2004 -- LIVESTAR Entertainment Group, Inc. ("LIVESTAR" or the "Company") (OTC BB:LSTA.OB - News) today announced that it has signed an agreement to develop the Manhattan of La Jolla restaurant into a newly styled restaurant and lounge to serve as a flagship for a chain of LIVESTAR owned Manhattan Restaurant and Lounges. With this agreement now complete, LIVESTAR plans to commence the development of this joint venture to launch the new business operation and to generate revenues as quickly as possible.
ADVERTISEMENT
The initial Letters of Intent, executed between LIVESTAR and the principals of the original Manhattan, have been amended to now be a binding agreement for the parties to joint venture. LIVESTAR will initially participate via a minority interest in the Flagship Manhattan restaurant in La Jolla through its role as a remodeling financier, developer and operations co-manager. The highlight of the transaction is that LIVESTAR has acquired the rights to be the 100% equity owner of future Manhattan establishments and products with the principal founder's receiving fees and royalties for their participation.
The Flagship Manhattan will be developed to build on the tradition and successful 17-year track record of customer satisfaction that the original Manhattan has come to be known for. Key milestones that are conditions precedent in the agreement are items such as the approval of Liquor Licensing and the execution of additional contracts (i.e. a long form rights and royalties contract) to fulfill certain conditions of the agreement. Both parties are committed to working diligently and in harmony to fulfill all the conditions and to create a win-win situation for each other.
Ray Hawkins, Founder, Chairman and CEO of LIVESTAR, commented, "The track record of the previous restaurant combined with the vision we both have for the future of Manhattan provides a great foundation to build upon. With this in mind we plan to begin the necessary steps to have Flagship Manhattan developed as early as possible this fall. We feel the arrangement with the Flagship Manhattan should be financially beneficial to LIVESTAR, and we are ecstatic about the future development rights we are securing. We plan to immediately begin planning the second Manhattan establishment and have already begun discussions with investors interested in providing funding for such projects. We believe the future developments may be great income performers for LIVESTAR."
Mr. Wolf, co-founder of the original Manhattan, stated: "With the Flagship Manhattan scheduled to be the second establishment of the LIVESTAR network we are excited to get the premises renovated and open to serve our previous clientele and new patrons. The long time vision I have had for a successful business built around the Manhattan brand, menu and food products can now be realized through this joint venture with LIVESTAR. We hope the shareholders of LIVESTAR share our enthusiasm for the completion of this joint venture and the future potential of our business."
Mr. Ray Hawkins also added: "As previously noted, we are committed to building shareholder value through both new development and acquisitions and therefore we believe the opportunity to develop the Manhattan establishments is outstanding and consistent with our long term oriented strategy."
ABOUT LIVESTAR ENTERTAINMENT GROUP, INC.
The core business of LIVESTAR Entertainment Group, Inc. is the development of entertainment entities, specifically: Liquor Licensed Entertainment Establishments (namely nightclubs and lounges) and Live Entertainment (concerts and special events).
Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. LIVESTAR Entertainment Group, Inc intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause LIVESTAR Entertainment Group, Inc.'s actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in LIVESTAR Entertainment Group, Inc.'s applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at http://www.sec.gov.
Contact:
Contact:
Investor Relations
investors@LIVESTAR.net
Phone: 858-812-2863
Please visit our website:
http://www.LIVESTAR.net
--------------------------------------------------------------------------------
Source: LIVESTAR Entertainment Group, inc.
[This message has been edited by SimpleGuy (edited June 29, 2004).]
quote:
Originally posted by poorman:
Looks Good
LETS GOOOOOO
quote:
Originally posted by stocktrader22:
Its not moving though
Need to start posting this on other boards to get some interest.
quote:
Originally posted by stocktrader22:
anyone got level 2?
1 MM on bid @ .0007 and 4 @ .0006
5 MM on ask @ .0008 and 3 @ .0009
Candydish
Member posted June 03, 2004 09:38
--------------------------------------------------------------------------------
I had gotten in at the .0009, and hit bank, so if anyone is wanting in... it's time, that is if it's gonna do anything??
Do Your DD.
CD
quote:
Originally posted by massageguy:
What's with the low volume today? I would have thought lsta would be jumping now
The calm before the storm???
[This message has been edited by SimpleGuy (edited June 30, 2004).]
Management plans on initiating a series of securities offerings to raise the investment capital needed to meet our acquisition and development plans. Although we will make efforts to minimize dilution to current shareholders, we may not be able to avoid significant dilution due to many factors, including but not limited to, the closing of financing at lower than the desired market price of the Company's common stock.
So, while it seems like a good company... that black cloud hanging over makes it hard to tell where the bottom really is. Anyone have any comments/insight on this?
quote:
Originally posted by RedBullish:
Was going to buy, but this concerned me in their 10QSB:Management plans on initiating a series of securities offerings to raise the investment capital needed to meet our acquisition and development plans. Although we will make efforts to minimize dilution to current shareholders, [b]we may not be able to avoid significant dilution due to many factors, including but not limited to, the closing of financing at lower than the desired market price of the Company's common stock.
So, while it seems like a good company... that black cloud hanging over makes it hard to tell where the bottom really is. Anyone have any comments/insight on this?[/B]
CHEERS!!!!!!!!!TROUT
Wednesday June 30, 10:00 AM EDT
LIVESTAR Entertainment Group Inc. ("LIVESTAR" or the "Company") (LSTA) today announces that its first two events in Canada have launched with success and have posted the galleries of the shows on the LIVESTAR website. By adding a second live events market to our growth plans gives LIVESTAR added revenue to its income statements. The Company has successfully produced concerts in Vancouver with wunderkind DJ James Zabiela from the U.K. and Hernan Catteneo of Argentina. The galleries on the website show the level of production LIVESTAR brings to its audiences and also illustrates the customer satisfaction of the ticket buyers.
Ray Hawkins, CEO of LIVESTAR, commented: "I am pleased with our entry into the Canadian market and feel confident we will continue to build on this start with the summer and fall live event season about to kick off."
Jay Sinclair, the head of LIVESTAR'S Canadian event unit, stated: "The approach the Company is taking is one of building solid relationships with artist agencies and venues while delivering a solid production for the event goers. This foundation is being laid properly in each market we enter and our long term, quality first approach is beginning to pay dividends in terms of the building our reputation, having greater availability of acts and an increase in our revenue streams."
In closing, the Company's live events productions are proving successful in the continuing development and marketing of our business.
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CHEERS!!!!!!!!!!!!!TROUT
quote:
Originally posted by trout:
May see a strong close if more big buys come in.CHEERS!!!!!!!!!!!!!TROUT
Hoping for a rise tomorrow!
quote:
Originally posted by Breezer:
Hoping for a rise tomorrow!
My biggest worry is if lsta decide to do a reverse stock split after going to 10 billion in order to buy acquistions? Any thoughts on this one?????
Drive it to .0001? heh
quote:
Originally posted by massageguy:
My biggest worry is if lsta decide to do a reverse stock split after going to 10 billion in order to buy acquistions? Any thoughts on this one?????
[This message has been edited by SimpleGuy (edited June 30, 2004).]
CHEERS!!!!!!!!!TROUT
quote:
Originally posted by Tanangel:
Calling the investor relation has been very good I see good news coming out back to back but what would it take to pop this price do we need to mention all the good news to all the boards the only one I know beside this one is Ragingbull.com if anybody else know any other board please contribute lets get the noise started on it.
Just posted news on 2 other boards, don't go to RB much and never post there so someone else will have to handle that one.
[This message has been edited by realperson (edited July 01, 2004).]
quote:
Originally posted by realperson:
HELLO
Where is CANDYDISH???????Candydish
Member posted June 03, 2004 09:38
[This message has been edited by SimpleGuy (edited June 30, 2004).][/b][/QUOTE]
[This message has been edited by massageguy (edited July 02, 2004).]
quote:
Originally posted by massageguy:
check out lsta on ragingbull.com
it does not look favorable. It looks like Ray the CEO just wants to use shares to pay employees and buy nightclubs cause he doesn't have the money otherwise.
[This message has been edited by SimpleGuy (edited June 30, 2004).]
[This message has been edited by massageguy (edited July 02, 2004).][/B][/QUOTE]
Since when is buying more business's and hiring more people a bad thing?
Also since when is bashing on the R/B board a bad thing? Seems they bash everything.
JMO
It always looks easy thinking lsta is on the bottem at .0006 and then it seems to just be stuck there. I am hoping for a breakout soon.
I think Ray the CEO would want the shares to go up soon so he can make some money for his employees shares.
Really funny saying: Do Not Hope like a bunny and get shot........
GLTA
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I have found this message board to be the best so far.
Lot's of constructive information; not just bashing--thank you for that.
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quote:
Originally posted by Tanangel:
there are lot of MM who contribute to ragingbull for bashing..............again it always come down to plse do your own DD that will always help.......
What is MM? I am still new to the lingo.
Thanks for all the hard work Tanangel. I think it will all pay off , just have patience.
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ciao bella
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quote:
Originally posted by Tanangel:
One more thing I forgot to mention overseas markets like Canada and Frankfurt can short positions on the penny stocks and if these players are taking short positions they need to bash big time to make money...................be Vigilant in determining who is on the payroll and who's a basher......ciao bella
quote:
Originally posted by Candydish:
I have been out of town but I am doing the same as everyone else... trying to figure this one out. I banked on the first run after Dallas Boy posted, and... still holding my current shares. Hummmmm,
CD
Now I feel confident Ima gonna just set this one aside and when it hits the bank I will allready be in
quote:
Originally posted by realperson:
Now I feel confident Ima gonna just set this one aside and when it hits the bank I will allready be in
quote:
Originally posted by Candydish:
I really do think this is as Dallas said a long hold, if people don't bash it in the ground. I don't read many of the other boards because people want a fast cash flow, and with pennies it just does not happen.... and yes sometimes the pennies bash themselves in the ground with poor marketing, etc...
I had a good run with this and am sitting on free shares, but I do not plan to sell them anytime soon. It would be easy to take the money and run to the bank.... but for some reason I think there is more good than bad to come. It may take a while, but I will wait out the storms... GLTA.
CD
don't sell ne of ur shares of LSTA now we got to wait, c & make lots of $$$.
quote:
Originally posted by Candydish:
Realperson,
OK, I am just being nosey and curious... what state, or where are you from? I am sitting in a little sauna town with high humidity etc.. outside of Austin, Texas.
CD
VANCOUVER, BC -- (MARKET WIRE) -- 07/05/04 -- LIVESTAR Entertainment
Group Inc. ("LIVESTAR" or the "Company") (OTC BB: LSTA) today
announced that at its recent Annual General Meeting on June 25, 2004,
its shareholders approved the passage of all proposals including the
amendment to the Articles of Incorporation, thereby providing for an
increase in the authorized capital of the Company.
In addition, the Company is pleased to notify current and prospective
shareholders that in an effort to improve communication between
shareholders and upper management, has engaged Loyola Financial
Services (www.loyolafinancial.com), to provide shareholder
communications services to our shareholders. Loyola Financial
Services is a multi service company focusing on micro cap and small
cap publicly traded companies. They have extensive experience and
knowledge with OTCBB companies. Subsequently, Loyola Financial
Services provides the reassurance that shareholders have an open door
of communication to stay well informed; while enabling upper
management to focus on executing the core business plan and
day-to-day operations. Shareholders should benefit significantly from
the readily available information and added third party
communications services.
All Shareholder inquiries can now be directed as per:
Loyola Shareholder Communications Contact Information
info@4lfs.com www.loyolafinancial.com
(619) 209-6068
Mr. Hawkins in closing, stated: "A long term thinking approach, to an
investment in LIVESTAR, is appreciated and we thank the shareholders
for their commitment and patience. We feel optimistic about the
current ongoing business development activities and we look forward
to the possible announcement of positive developments as they are
finalized."
quote:
Originally posted by stocktrader22:
How will the stock respond to this!
I think it willrespond well. It looks like lsta is trying to forge a good working relationship with shareholders
keep holding on... it will happen
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quote:
Originally posted by stocktrader22:
How will the stock respond to this!
probably not very well: heres what the share holders ratified:
TO THE SHAREHOLDERS OF:
The annual meeting of the shareholders of LIVESTAR Entertainment Group, Inc. will be held at the offices of the Company at 62 W. 8 th Avenue, 4 th Floor, Vancouver, British Columbia, Canada V5Y 1M7 on June 25, 2004 at 8:00 a.m. Pacific Time, for the following purposes:
1. To elect two directors to serve until the next annual meeting or until their successors are elected and qualified;
2. To vote upon a proposal to amend the articles of incorporation in order the authorize the board of directors to increase the number of authorized common shares from 1,000,000,000 shares to 10,000,000,000 shares; and
3. Approve the following Livestar Entertainment Group, Inc. Stock Plans:
a) Employee Stock Incentive Plan for the Year 2003 approved by our directors on September 5, 2003 with 30,000,000 shares of our common stock in the aggregate authorized for issuance under the Plan.
b) Employee Stock Incentive Plan for the Year 2003 No. 2 approved by our directors on October 15, 2003 with 55,000,000 shares of our common stock in the aggregate authorized for issuance under the Plan.
c) Employee Stock Incentive Plan for the Year 2004 approved by our directors on January 29, 2004 with 100,000,000 shares of our common stock in the aggregate authorized for issuance under the Plan.
4. To transact any other business that may properly come before the meeting or any adjournment
THATS a LOT of shares to add and expect the price to go up. I'll leave you all the link to figure it out for yourselves.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001108017%252D04%252D000321%252Etxt%26filepath%3D%255C2004%255C06%255C08%255C&symbol=LSTA
good luck and good trading
Keith
[This message has been edited by keithsan (edited July 05, 2004).]
[This message has been edited by keithsan (edited July 05, 2004).]
quote:
Originally posted by stocktrader22:
damn this will take a while to take off.
With all these extra shares for the employee stock plan it better go up for them to have any kind of security.If I was an lsta employee I would not be happy with all these stock options if it stays at this price.
any thoughts on this one?
VANCOUVER, BC--(MARKET WIRE)--Jul 7, 2004 -- LIVESTAR Entertainment Group Inc. ("LIVESTAR" or the "Company") (OTC BB:LSTA.OB - News) today announced that it has completed a Joint Venture Agreement to develop its next liquor licensed entertainment establishment. This establishment is located in Toronto, Ontario with the working name of Elm Street and is planned to open as early as possible this fall to begin generating revenues for LlVESTAR.
ADVERTISEMENT
Elm Street will be a new entertainment establishment located at 333 Elm Street and Yonge in the heart of the heavily trafficked and trendy downtown Yonge Street area where the financial and shopping districts meet. It has three floors and occupies over 6,000 sq ft. This venue will be developed with a new name and renovated as a plush nouveau style downtown restaurant and bar. It will cater to a diverse clientele and be open five to seven days and nights per week.
The Joint Venture Agreement is between LIVESTAR and Terry Lall whereby LIVESTAR will own 51% of Elm Street. Continued discussions between the Company and Mr. Lall have produced this joint venture as result. Mr. Lall brought the Elm Street project to LIVESTAR with an exceptional pre-negotiated premises lease and chattels, which in turn provided him with a 49% equity interest in the joint venture.
Terry Lall, commented: "Elm Street has been structured to be a great win-win situation for all involved. We are pleased that the ongoing discussions between my entertainment investment and development group and LIVESTAR resulted in this Joint Venture Agreement. Renovations have commenced and together we are now working to open the establishment as soon as possible.
The exact opening timeline of the establishment is subject to such items as the completion of renovations and the receiving of licensing approvals from the local regulatory bodies. The successful attainment of the liquor license, which both parties are confident in securing, is the main condition precedent of the joint venture.
Ray Hawkins, Founder, Chairman and CEO of LIVESTAR, commented: "We have been working diligently behind the scenes to get our business plan on a faster track. We are proud we have been able to add another establishment project to our portfolio this quickly. We believe this establishment, after becoming operational, could potentially generate revenues of approximately $2 million + annually with potential earnings of 15% post tax. We look forward to the grand opening, and anticipate being able to achieve significant developmental milestones in the coming weeks."
About LIVESTAR Entertainment Group, Inc.
The core business of LIVESTAR Entertainment Group, Inc. is the development of entertainment entities, specifically; Liquor Licensed Entertainment Establishments (namely nightclubs and lounges) and Live Entertainment (concerts and special events).
Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. LIVESTAR Entertainment Group, Inc intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause LIVESTAR Entertainment Group, Inc.'s actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in LIVESTAR Entertainment Group, Inc.'s applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at http://www.sec.gov.
[This message has been edited by SimpleGuy (edited July 07, 2004).]
Ray Hawkins, Founder, Chairman and CEO of LIVESTAR, commented: "We have been working diligently behind the scenes to get our business plan on a faster track. We are proud we have been able to add another establishment project to our portfolio this quickly. We believe this establishment, after becoming operational, could potentially generate revenues of approximately $2 million + annually with potential earnings of 15% post tax. We look forward to the grand opening, and anticipate being able to achieve significant developmental milestones in the coming weeks."
This reflects our previous understanding of accumulating and achieeing objectives of .0023, .005 and eventually .01+ in medium term.
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quote:
Originally posted by LSDesigns:
MMD Bid Bid Size
AGIS 0.000 50
BAMM 0.000 50
DOMS 0.000 50
FANC 0.000 50
FLCR 0.000 50
FRAN 0.000 50
GVRC 0.000 50
HILL 0.000 50
JEFF 0.000 50
MAYF 0.000 50
NITE 0.000 50
SACM 0.000 50
SCHB 0.000 50
SEAB 0.000 50
TDCM 0.000 50
VFIN 0.000 50
WECK 0.000 50
WIEN 0.000 50
BMIC 0.000 50
BEST 0.000 50
CRWN 0.000 50
MMD Ask Ask Size
AGIS 0.001 50
BAMM 0.001 50
FANC 0.001 50
FLCR 0.001 50
FRAN 0.001 50
GVRC 0.001 50
HILL 0.001 50
JEFF 0.001 50
NITE 0.001 50
SCHB 0.001 50
TDCM 0.001 50
VFIN 0.001 50
WECK 0.001 50
WIEN 0.001 50
BMIC 0.001 50
BEST 0.001 50
CRWN 0.001 50
DOMS 0.002 50
SEAB 0.002 50
What has your message got to do with lsta???
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DO WE HAVE TO WAIT FOR SOME GOOD REVENUE NUMBERS OR ARE WE READY TO GO TO THE MOON........... 0
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Second I received three emails from LSTA investor relations dept. I will post them tonight for eveybody. News look pretty good but I guess it is taking time in digesting it. We need some Pepto for this market.
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Livestar Entertainment Group Press Release from Loyola Financial
LIVESTAR Entertainment Group Inc. Announces Successful Launch of Events Division in Canada
by Livestar Entertainment Group
VANCOUVER, BC - MARKET WIRE - 06/30/04<br><br>
LIVESTAR Entertainment Group Inc. ("LIVESTAR" or the "Company") (OTC BB: LSTA) today announces that its first two events in Canada have launched with success and have posted the galleries of the shows on the LIVESTAR website. By adding a second live events market to our growth plans gives LIVESTAR added revenue to its income statements. The Company has successfully produced concerts in Vancouver with wunderkind DJ James Zabiela from the U.K. and Hernan Catteneo of Argentina. The galleries on the website show the level of production LIVESTAR brings to its audiences and also illustrates the customer satisfaction of the ticket buyers. <br><br>
Ray Hawkins, CEO of LIVESTAR, commented: "I am pleased with our entry into the Canadian market and feel confident we will continue to build on this start with the summer and fall live event season about to kick off." <br><br>
Jay Sinclair, the head of LIVESTAR'S Canadian event unit, stated: "The approach the Company is taking is one of building solid relationships with artist agencies and venues while delivering a solid production for the event goers. This foundation is being laid properly in each market we enter and our long term, quality first approach is beginning to pay dividends in terms of the building our reputation, having greater availability of acts and an increase in our revenue streams." <br><br>
In closing, the Company's live events productions are proving successful in the continuing development and marketing of our business. <br><br>
About LIVESTAR Entertainment Group, Inc. <br><br>
The core business of LIVESTAR Entertainment Group, Inc. is the development of entertainment entities, specifically: Liquor Licensed Entertainment Establishments (namely nightclubs and lounges) and Live Entertainment (concerts and special events). <br><br>
Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. LIVESTAR Entertainment Group, Inc intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause LIVESTAR Entertainment Group, Inc.'s actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in LIVESTAR Entertainment Group, Inc.'s applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at http://www.sec.gov. <br><br>
Please visit our website: www.LIVESTAR.net.<br><br>
Contact for more information
E-mail: LSTA@4lfs.com
Website: www.livestar.net
Loyola Financial Website: http://www.4lfs.com
Phone: 619.209.6068
Livestar Entertainment Group Press Release from Loyola Financial
LIVESTAR Entertainment Group Inc. Provides Update Regarding Recent Annual General Meeting
by Livestar Entertainment Group
VANCOUVER, BC--(MARKET WIRE)--Jul 5, 2004 -- LIVESTAR Entertainment Group Inc. ("LIVESTAR" or the "Company") (OTC BB:LSTA.OB - News) today announced that at its recent Annual General Meeting on June 25, 2004, its shareholders approved the passage of all proposals including the amendment to the Articles of Incorporation, thereby providing for an increase in the authorized capital of the Company.
In addition, the Company is pleased to notify current and prospective shareholders that in an effort to improve communication between shareholders and upper management, has engaged Loyola Financial Services (www.loyolafinancial.com), to provide shareholder communications services to our shareholders. Loyola Financial Services is a multi service company focusing on micro cap and small cap publicly traded companies. They have extensive experience and knowledge with OTCBB companies. Subsequently, Loyola Financial Services provides the reassurance that shareholders have an open door of communication to stay well informed; while enabling upper management to focus on executing the core business plan and day-to-day operations. Shareholders should benefit significantly from the readily available information and added third party communications services.
All Shareholder inquiries can now be directed as per:
Loyola Shareholder Communications Contact Information
info@4lfs.com www.loyolafinancial.com
(619) 209-6068
Mr. Hawkins in closing, stated: "A long term thinking approach, to an investment in LIVESTAR, is appreciated and we thank the shareholders for their commitment and patience. We feel optimistic about the current ongoing business development activities and we look forward to the possible announcement of positive developments as they are finalized."
ABOUT LIVESTAR ENTERTAINMENT GROUP, INC.
The core business of LIVESTAR Entertainment Group, Inc. is the development of entertainment entities, specifically; Liquor Licensed Entertainment Establishments (namely nightclubs and lounges) and Live Entertainment (concerts and special events).
Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. LIVESTAR Entertainment Group, Inc intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause LIVESTAR Entertainment Group, Inc.'s actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in LIVESTAR Entertainment Group, Inc.'s applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at http://www.sec.gov.
Contact for more information
E-mail: LSTA@4lfs.com
Website: www.livestar.net
Loyola Financial Website: http://www.4lfs.com
Phone: 619.209.6068
================================================
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Livestar Entertainment Group Press Release from Loyola Financial
LIVESTAR Entertainment Group Inc. Announces the Commencement of Development of Its Next Licensed Establishment With a Grand Opening Planned for This Fall
by Livestar Entertainment Group
VANCOUVER, BC--(MARKET WIRE)--Jul 7, 2004 --
LIVESTAR Entertainment Group Inc. ("LIVESTAR" or the "Company") (OTC BB:LSTA.OB - News)
today announced that it has completed a Joint Venture Agreement to develop its next liquor licensed entertainment establishment. This establishment is located in Toronto, Ontario with the working name of Elm Street and is planned to open as early as possible this fall to begin generating revenues for LlVESTAR.
Elm Street will be a new entertainment establishment located at 333 Elm Street and Yonge in the heart of the heavily trafficked and trendy downtown Yonge Street area where the financial and shopping districts meet. It has three floors and occupies over 6,000 sq ft. This venue will be developed with a new name and renovated as a plush nouveau style downtown restaurant and bar. It will cater to a diverse clientele and be open five to seven days and nights per week.
The Joint Venture Agreement is between LIVESTAR and Terry Lall whereby LIVESTAR will own 51% of Elm Street. Continued discussions between the Company and Mr. Lall have produced this joint venture as result. Mr. Lall brought the Elm Street project to LIVESTAR with an exceptional pre-negotiated premises lease and chattels, which in turn provided him with a 49% equity interest in the joint venture.
Terry Lall, commented: "Elm Street has been structured to be a great win-win situation for all involved. We are pleased that the ongoing discussions between my entertainment investment and development group and LIVESTAR resulted in this Joint Venture Agreement. Renovations have commenced and together we are now working to open the establishment as soon as possible.
The exact opening timeline of the establishment is subject to such items as the completion of renovations and the receiving of licensing approvals from the local regulatory bodies. The successful attainment of the liquor license, which both parties are confident in securing, is the main condition precedent of the joint venture.
Ray Hawkins, Founder, Chairman and CEO of LIVESTAR, commented: "We have been working diligently behind the scenes to get our business plan on a faster track. We are proud we have been able to add another establishment project to our portfolio this quickly. We believe this establishment, after becoming operational, could potentially generate revenues of approximately $2 million + annually with potential earnings of 15% post tax. We look forward to the grand opening, and anticipate being able to achieve significant developmental milestones in the coming weeks."
About LIVESTAR Entertainment Group, Inc.
The core business of LIVESTAR Entertainment Group, Inc. is the development of entertainment entities, specifically; Liquor Licensed Entertainment Establishments (namely nightclubs and lounges) and Live Entertainment (concerts and special events).
Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. LIVESTAR Entertainment Group, Inc intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause LIVESTAR Entertainment Group, Inc.'s actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in LIVESTAR Entertainment Group, Inc.'s applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at www.sec.gov.
Please visit our website: www.LIVESTAR.net
Contact for more information
E-mail: LSTA@4lfs.com
Website: www.livestar.net
Loyola Financial Website: http://www.4lfs.com
Phone: 619.209.6068
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FurrySound
-DD-GLTA-Unless I've quoted a source, I know not what I speak of.
quote:
Originally posted by FurrySound:
I can't find anything news wise..
This stock is acting very wierd. All this good news and volume and price SHOULD be going up......what is going on?????
quote:
Originally posted by massageguy:
What has your message got to do with lsta???
Just showing the Level 2, thats all. Make your own judgement of it. I am waiting patiently on this to pop too.
http://www.allstocks.com/level2quotesotcbb.html
We will remember the good old days.------------------
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Sending in some more money to my account on Monday so I kinda hope it stays low until I can get a little more.
[This message has been edited by LSDesigns (edited July 11, 2004).]
[This message has been edited by LSDesigns (edited July 11, 2004).]
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"If We Agree To Disagree, Then We Can Remain friends"
Opinions anyone?
quote:
Originally posted by Breezer:
Well - any opinions on this one?
I think the stock was manipulated on Friday with all that volume for them to get some extra money.
Now it sits at .0004 and I got in at .0007
Looks like we'll have to wait til some more happens with these clubs they are opening in summer/fall.
I have e mailed their investor relations to get the right address for this new club. If it is actually 333 Elm st.
Who knows...maybe you can catch a bump like that if you hold out. I really want to know about the Address thing. Might have a Chatroom buddy up there to go check it out.
For now I am staying with it.
quote:
Originally posted by massageguy:
I think the stock was manipulated on Friday with all that volume for them to get some extra money.
Now it sits at .0004 and I got in at .0007
Looks like we'll have to wait til some more happens with these clubs they are opening in summer/fall.
I have e mailed their investor relations to get the right address for this new club. If it is actually 333 Elm st.
i know the feeling got 1 more mil shares today making my break even point 0.000612. I am going to stay with my 7.49 mill share till it reaches 0.0022.
quote:
Originally posted by Breezer:
Is this stock going anywhere today?
Is it time to average down or just get out?Opinions anyone?
don't rush my friend.
quote:
Originally posted by Cavehunter:
don't rush my friend.
so you recommend buying more?
i think so 2. It will take them little time get every thing up & flying.
$$$
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Love this action
quote:
Originally posted by Tanangel:
Good volume look like lot of ppl taking advantage of this excellent price I wish my funds can get clear faster so I can acquire more. I don't think I have held more stock of anything else than this one I am diversified but I don't want to miss this rocket to the moon......
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Love this action
quote:
Originally posted by Tanangel:
Well after studing the overall picture of LSTA, I realized majority of there revenue has been generated by promoting concerts which ended up giving them approx $58,000 and the reason they only made 58,000 becuase they had to give part of it to sequel for renting the place. they did manage to get some heavy hitters like cavato etc. Now they own the lease on sequel and also have concert scheduled for this year plus they are working on ELM venture which is like 6th street club in AUSTIN. Demographic is excellent for that venture. Third LA jolla restaurant and bar. ALL of these venture after running will be a CASH COW for LSTA. I do anticipate them to do Friday Volume two more times to get most of the expenses covered but after that do anticipate in long run the price to go above .02 medium term .005--.01 and short term .0018--.0023.
Im in at .0004 w/ 2.5 mill shares.
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GLTA - K++
quote:
Originally posted by dropithot82:
LSTA is going to be the next bottom play. It's volume was good today, but needs 150 - 200 mil to move. IBII and NXIA all saw pops from this level....speculators will jump on this soon.Im in at .0004 w/ 2.5 mill shares.
dropithot82, when did you get yours?
I am using TD Waterhouse, I think the delay is pretty bad, considering to open an Ameritrade Canada account.
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Love this action
quote:
Originally posted by Tanangel:
Man I am hoping I don't miss this bottom play for the entry at .0003. Did anybody get in at this level I am using ameritrade.
I tried most of the day to get 625,000 shares at .0003 - it never took. It is still open for tomorrow.
GLTA
quote:
Originally posted by dropithot82:
low volume despite heavy buying in green. if vol increases, LSTA could follow pattern of NXIA yesterday.GLTA
you seem to be saying this about another stocks (LXRS)
quote:
Originally posted by Garfield1981:
Breezer, have you got yours yet?
no - I was hoping after the trade went to .0004 I would get it filled
still open from yesterday
625,000 at .0003 - that will make me have a nice cool million
quote:
Originally posted by Tanangel:
Well after studing the overall picture of LSTA, I realized majority of there revenue has been generated by promoting concerts which ended up giving them approx $58,000 and the reason they only made 58,000 becuase they had to give part of it to sequel for renting the place. they did manage to get some heavy hitters like cavato etc. Now they own the lease on sequel and also have concert scheduled for this year plus they are working on ELM venture which is like 6th street club in AUSTIN. Demographic is excellent for that venture. Third LA jolla restaurant and bar. ALL of these venture after running will be a CASH COW for LSTA. I do anticipate them to do Friday Volume two more times to get most of the expenses covered but after that do anticipate in long run the price to go above .02 medium term .005--.01 and short term .0018--.0023.
You say .02 in long run? Does that mean 1-2 years? Medium term- 6-12 months for .005-.01?
massageguy
First we spoke about the first acquisition, he said the deal with the Sequal was delayed do to an audit that was in progress. James said it was all complete (we know this with a PR already) and LSTA was getting revenues from The Sequal already, we should see them on the next 10Q.
We spoke of the second acquisition, Manhattan. He didn't have a date on when the renovations would be completed. He said he had been to the location and it looks great and is in a great location! He also said that the previous Manhattan had a frozen line of foods that were carried by Cosco (some big warehouse type store like Sams on the East coast). James also mentioned that one of the people we have on board has some pretty good contacts as far as that type of product line.
We then briefly touched on the latest acquisition, Elm Street. He said he was real excited but hasn't had a chance to visit that site yet.
He asked me a series of questions trying to get a feel for who the shareholders were ie, how many shares, what types of stocks (sectors) do you invest in, etc..
I asked him about how the company advertises. He said pretty much urban type, walking around and posting fliers. I asked him if there was a way to have some type of advertising on their website as I would definately be willing to drive a couple hundred miles to see a LiveStar event to check on my company! He mentioned that Ray said something about having better advertisements but that it had to be done carefully. I hope this can be improved!
Then I expressed that I wasn't happy with the 10B A/S but hoped that Ray would make the right decisions and use the shares very wisely as far as acquiring new locations. Hopefully, we will be seeing revenues from all three locations in the next few months and won't need to release most of those shares. James did say, keep in mind that they are only A/S, not O/S.
Oh, the website, they are interviewing web designers....
I told James that I wasn't happy with Loyola doing business with a company of AFRT's nature, he had some very positive things to say about them and (gave the sense that he agreed) that their previous shareholder practices may not have been good. I may have more information on AFRT, will be posted there if I get any.
Oh, last thing, I told him that these last two acquisitions seemed quick and with no insight for the shareholders. I asked him if he was aware of any other acquisitions he could tell me about, he said no. Then I asked if he was aware of any other acquisitions, he again said no.
We must have spent 30-45 minutes on the phone, he is a personable gentleman and seems eager to help and get answers for us.
Hope this helps!
dil
Also, when is the next 10Q coming out?
This thing is in a holding pattern at .0004 for too long. I think we all are ready for the lid to come off and let the profits boil over.
[This message has been edited by massageguy (edited July 14, 2004).]
quote:
Originally posted by LSDesigns:
Volume is killing me. Money cleared my account so I order more at .0003. I cant even seem to get a partial fill today.
MY order never filled at .0003 - so I upped it to .0004 when it the last trade was .0005 and it filled at the .0004
I am done buying it though
I have 1,000,000 shares and that is enough
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Love this action
quote:
Originally posted by CH:
NE BODY GOT LEVEL II TODAY
Go here for allstocks Level 2's
http://www.allstocks.com/level2quotesotcbb.html
Got the fill at .0004. I am in for 1,050,000 shares now. Now I am satisfied. Lets ride.
Yes I own alot I bought av .0007
so
1) Im cheerleading
2) I really wish I got in at this level
quote:
Originally posted by realperson:
If your ever going to find a good bottom Play
Its right here right now
LSTA has too much going on to just sit here
every point move means big bucksYes I own alot I bought av .0007
so
1) Im cheerleading
2) I really wish I got in at this level
My breaking even point is around 0.00061 on 7.49 mill i really wish i had the funds to get in now. It just traded 111 mill shares today, volume is getting better.
The steady decline in the PPS reminds me of what GWDL did a week or two ago right before their R/S?
Why is it all the way down to .0002ps with all of that volume?
Any thoughts??? Anyone concerns???
quote:
Originally posted by Str8Shooter:
I'm very interested in this stock.
But is anybody worried about a R/S???The steady decline in the PPS reminds me of what GWDL did a week or two ago right before their R/S?
Why is it all the way down to .0002ps with all of that volume?
Any thoughts??? Anyone concerns???
lsta stated they would not do a r/s in may
I got in at .0006 and some at .0004 - but should I keep averaging down - or just quit?
quote:
Originally posted by Breezer:
should we buy more of this - or is this chasing a bad one down?I got in at .0006 and some at .0004 - but should I keep averaging down - or just quit?
wait now is best!
Personally, I am waiting till the 10Q. If that looks positive...then after the Elm St. Location gets going.. should be a nice profit for all.
If the 10Q looks bad... I will be looking to get out for the mean time.
quote:
Originally posted by Str8Shooter:
I'm very interested in this stock.
But is anybody worried about a R/S???The steady decline in the PPS reminds me of what GWDL did a week or two ago right before their R/S?
Why is it all the way down to .0002ps with all of that volume?
Any thoughts??? Anyone concerns???
IMO the price is dropping due to share dilution, they are dumping shares on the market to build capitol to purchase more business's and to raise working capitol. I'm only holding five hundred thousand shares which is small compaired to what some people have but I think we will all make money on this one or I wouldn't be in it.
GOOD LUCK TRADING
quote:
Originally posted by poorman:
IMO the price is dropping due to share dilution, they are dumping shares on the market to build capitol to purchase more business's and to raise working capitol. I'm only holding five hundred thousand shares which is small compaired to what some people have but I think we will all make money on this one or I wouldn't be in it.
GOOD LUCK TRADING
So I should just hold and wait? I have a million shares
------------------
"If We Agree To Disagree, Then We Can Remain friends"
quote:
Originally posted by Breezer:
So I should just hold and wait? I have a million shares
I think so but you need to make your own decision on that. I know I'm holding and plan to make money on this one, it may take a month or so or a little longer but I think this one will rise, of course I don't trust any pinks so I will be taking profit as it goes up.
quote:
Originally posted by poorman:
I think so but you need to make your own decision on that. I know I'm holding and plan to make money on this one, it may take a month or so or a little longer but I think this one will rise, of course I don't trust any pinks so I will be taking profit as it goes up.
[This message has been edited by massageguy (edited July 16, 2004).]
************ Inc.: OTC Market Movers: ATIG, PCCL, LSTA, GWAD, NXIA
7/16/2004 10:44:43 AM
Jul 16, 2004 (M2 PRESSWIRE via COMTEX) -- Stocks in the News: Atlantis Internet Group Corporation ( ATIG ), Pacel Corporporated ( PCCL ), Livestar Entertainment Group Incorporated ( LSTA ), Gateway Distributors Limited ( GWAD ), Nexia Holdings Incorporated ( NXIA )
Atlantis Internet Group Corporation ( ATIG ), a developer of proprietary online gaming software, recently announced that President and CEO Donald Bailey was recently interviewed by Wall Street Reporter ( http://www.******************.com) on how the company seeks to gain revenue from potential licensing agreements as well as its further development of its proprietary software.
Pacel Corporporated ( PCCL ) shares closed down 21.74% yesterday at $0.0018 after news that the company has raised $2,860,000 in capital which will allow the company to acquire state-of-the-art human resource information systems to support and grow its customer base.
Livestar Entertainment Group Incorporated ( LSTA ) shares remained unchanged yesterday despite above average trading volume. The company announced yesterday that it has completed a Joint Venture Agreement to develop its next liquor licensed entertainment establishment in Toronto, Ontario.
Gateway Distributors Limited ( GWAD ) shares lost 19.23% dropping the share price to $0.0021 yesterday despite news that the company recently opened a distribution center in Phoenix. which will begin distribution of beverages to local stores this month.
Nexia Holdings Incorporated ( NXIA ) shares were down 25% yesterday to close at $0.0006. Nexia recently announced that one of its subsidiaries began renovating the historic Wallace-Bennet building in Salt Lake City.
The Market closed with losses in the three major indices as the Dow Jones lost 0.45% while the Nasdaq and S&P500 lost a respective 0.11% and 0.43%. Just a few weeks ago interest rates were expected to increase 50 basis points (1/2%) at the June 30 FOMC policy meeting. However, attitudes have changed after a few soft economic numbers leaving investors weary that the Fed will not even go up 50 basis points between two meetings.
************ has put a Money Alert on these companies. To understand what these alerts mean go to http://www.***************/ Also check out the ************ performance page at http://***************.gosynapse.com/default.asp?c=1808 to chart our impressive track record with clients.
CD
quote:
Originally posted by Doctoall:
I tried to call the number for Fosters in Toronto and it has been disconnected. A friend of mine in Toronto told me thet Fosters is out of business and that there is a new night club going in there. I hope that its us
Elm Street
31 Elm Street,
Toronto, Ontario
------------------
"If We Agree To Disagree, Then We Can Remain friends"
quote:
Originally posted by Doctoall:
Maybe a great place to celebrate our good fortune when LSTA hits.
I was thinking about that...lol. Make a good amount and fly up to have a drink there.
------------------
"If We Agree To Disagree, Then We Can Remain friends"
& :P quote:
Originally posted by Doctoall:
Man thats a great spot in Toronto, I grew up in Toronto and use to go to Yonge Street to party, it was a hot spot back then. Now it has developed into a 24/7 party central for all types of folks. The new place will no doubt rock. As I now live in California I may need to take a trip back home to check it out when it opens I will try to get more shares with market open on Monday.
Maybe a great place to celebrate our good fortune when LSTA hits.
R they building a new theater or did they bought a place it.
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FurrySound
-DD-GLTA-Unless I've quoted a source, I know not what I speak of.
quote:
Originally posted by realperson:
My Pop who is smarter than me says the extra shares used for expansion have slowly been sold and have inceased supply and when thats done and it should be by now the price will move up fast because the regular penny guy will not sell at these prices
Just a thought
I agree I'll be buying more in the AM
thats what i am talking about.
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kjs69
Are you addicted when Allstocks.com is your homepage?
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FurrySound
-DD-GLTA-Unless I've quoted a source, I know not what I speak of.
I put in an order on Monday afternoon for 500,000 shares at .0001 thinking it would never fill. Someone sold 5000 soon at .0001 and I got them. But the rest did not go through. I had it on "GTC" and still had 495,000 left to get. but the stockmarket closed. To my surprise, last night, when I got home, I had an email that said Scottrade executed trade - 495,000 at .0001. I could not believe it. Wish I had put in for more. It almost seemed like a fluke. But I am happy.
quote:
Originally posted by Upside:
Breezer,
It could go lower, a lot lower, if they have a reverse split. I'm hoping that's not the case as I'm in at .0004 but it could happen.
Really - it can go lower than .0001?
Tell me waht you know about a reverse split and how that can affect LSTA.
Upside - I am assuming that they do not tell you ahead of time of the R/S- they just do it all of a sudden - is that true?
quote:
Originally posted by Upside:
Breezer,
If I'm talking "down" to you please accept my apologies but I'm unaware of your knowledge in this area. Anyway, let's say that LSTA has a 1 for 500 reverse split and it happens on a day when the stock is at .0005. That means that for every 500 shares you own, they take them away and issue you 1 share of the new stock. So, if you own 5 million now, after the split you would have 10 thousand. The stock price would be adjusted by the same 500 multiple so in this case it would be at .25 per share. In essence, your value is the same, you have fewer shares but at a much higher price per share. The problem is that virtually all stocks that have a reverse split tumble down to their original levels after the split. So within a few weeks you could wind up owning 10 thousand shares at the same .0005 price. Two recent examples of this are GWAD which was GWDI and AFRT which was AFRR. GWDI had a 1 for 900 reverse split which took the share price to around .18 a month ago and today it is at .0013. AFRT did the same thing, I don't remember what it split to, somewhere around .15 a few months back, and today it closed at .0007. I'm not saying that this is going to happen with LSTA but with the large outstanding amount and the tanking price per share, it's certainly a possibility.
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FurrySound
-DD-GLTA-Unless I've quoted a source, I know not what I speak of.
N/M...must have bugged for a few seconds...lol. That would have been nice
[This message has been edited by LSDesigns (edited July 21, 2004).]
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Love this action
quote:
Originally posted by LSDesigns:
Is my trading software screwing up???? I am seeing LSTA at .004??? I am with Choice Trade
N/M...must have bugged for a few seconds...lol. That would have been nice[This message has been edited by LSDesigns (edited July 21, 2004).]
I REALLY DON'T KNOW WHAT IT COULD BE BUT I WAS USING THE FREE Real Time Streaming Quotes FROM SCOTTRADE AND IT IS STILL SHOWING ME 0.004 DON'T KNOW Y. AND I ALMOST
SOLD HALF OF MY SHARE (5.3 MILL) WHEN THE REAL PRICE WAS 0.0007. AND I CALLED LOT OF MY FRIEND WHO HAD MORE SHARE THEN ME, NO BODY TOOK NE ACTION BUT I HAD SOME REAL UPSET FRIEND AFTER THAT.......
CH
Cave hunter
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Love this action
Posted by: brazentrader
In reply to: Dallas Boy50 who wrote msg# 133904 Date:7/24/2004 10:42:08 AM
Post #of 134042
re: LSTA Livestar Entertainment Group Inc.
s8 = 700mil on 7/1. shares traded since 7/1 = 1.6bil as of 7/23. (well over double)
no reverse split. note it does not say 'at this time'. at .0004 how much downside could there be? http://www.livestar.net/news/05_11_04.html
a lil' sumpin' about the latest pr. http://www.livestar.net/venues.asp http://www.livestar.net/news/07_07_04.asp
google search on elm street shows popularity of this location. http://www.google.com/search?num=100&hl=en&lr=&ie=UTF-8&safe=off&client=lgtech-k...
what it was: http://www.wguides.com/city/89/81_57436.cfm http://207.136.67.23/an/taste/british.htm http://americanairlines.wcities.com/en/record/127,57436/89/index.html
what it is: http://trinja.cryptek.org/robin/archives/001049.php http://www.ragingbull.lycos.com/mboard/boards.cgi?board=LSTA&read=7578
what it's going to be: http://www.livestar.net/news/07_07_04.asp
This venue will be developed with a new name and renovated as a plush nouveau style downtown restaurant and bar.
Renovations have commenced and together we are now working to open the establishment as soon as possible.
We believe this establishment, after becoming operational, could potentially generate revenues of approximately $2 million + annually with potential earnings of 15% post tax. We look forward to the grand opening, and anticipate being able to achieve significant developmental milestones in the coming weeks."
i believe location exists and s8 + joint venture is going to pay/get their license.
most companies producing the slightest revenue are valued at a penny or better. not .0004
$400 gets you 1mil shares. i'll take the risk. if it ever hits a penny, that's ten grand
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Nothing's more fun than a Subs stock run!!!
I will buy if it touches .0002 or lower.
just my opinion
quote:
Originally posted by BizSoft:
I am in it with 1.75 mill @.0003I will buy if it touches .0002 or lower.
just my opinion
quote:
Originally posted by will:
Traded at .0001 today.
For only like 50,000 shares or so....A ton of buys did come in at $0.0002 though when the ASK dropped.
quote:
Originally posted by realperson:
Is anybody able to buy at .0002 ???
If the ask hits .0001 I will sell whats left of the farm
for clarification - if it goes that low, will you sell what's left (of other stuff) to BUY more of LSTA?
quote:
Originally posted by Jumper:
for clarification - if it goes that low, will you sell what's left (of other stuff) to BUY more of LSTA?
My other positions are in the toilet such as TFCT whats left of the farm is a few bones of cash. Next year Imma going to go to all cash beginning June and then bottom shop in Aug
quote:
Originally posted by CH:
Did ne body notice the volume is getting as good as in may.
LOOK AT THE VOLUME EVERY BODY JULY IS DOING VERY GOOD ON THAT, AND THAT WHAT I AM LOOKING FOR WITH MY 8.9 MILL SHARES. 0.002 HERE WE COME 
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Love this action
quote:
Originally posted by Tanangel:
My order didn't get filled at .0001 either. Maybe it's ameritrade did any body got filled.?
------------------
Love this action
CHEERS
quote:
I believe they released another s8 filing.If so can,t be good.
They sure did, to the tune of another 6 billion shares. Not good at all.
LIVESTAR ENTERTAINMENT GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada 7900 980204736
(State or jurisdiction of (Primary Standard Industrial (I.R.S. Employer
incorporation or Classification Code Number) Identification No.)
organization)
62 West 8th Avenue, 4th Floor, Vancouver, British Columbia, Canada V5Y 1M7; (604) 682-6541 (Address and telephone number of Registrant's principal executive offices and principal place of business)
EMPLOYEE STOCK INCENTIVE PLAN FOR THE YEAR 2004 NO. 5
NON-EMPLOYEE DIRECTORS AND CONSULTANTS RETAINER STOCK PLAN
FOR THE YEAR 2004 NO. 2
(Full title of the Plans)
Raymond Hawkins, 62 West 8th Avenue, 4th Floor, Vancouver, British Columbia,
Canada V5Y 1M7
(Name and address of agent for service)
(604) 682-6541
(Telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
---------------------------------------------------------------------------------------------------
Proposed maximum
Title of securities to Amount to be Proposed offering aggregate offering Amount of
be registered registered price per share (1) price registration fee
---------------------- ------------- -------------------- ------------------- -----------------
Options to Purchase
Common Stock, 5,000,000,000 $ 0.0002 (2) $ 1,000,000 $ 126.70
Common Shares
Underlying Options
---------------------- ------------- -------------------- ------------------- -----------------
Common Stock 1,000,000,000 $ 0.0002 (3) $ 200,000 $ 25.34
---------------------- ------------- -------------------- ------------------- -----------------
Total 6,000,000,000 $ 1,200,000 $ 152.04
---------------------------------------------------------------------------------------------------
(1) The Offering Price is used solely for purposes of estimating the registration fee pursuant to
Rule 457(h) promulgated pursuant to the Securities Act of 1933.
(2) This Offering Price per Share is established pursuant to the option exercise price set forth
in the Employee Stock Incentive Plan for the Year 2004 No. 5, set forth in Exhibit 4.1 to this
Form S-8.
(3) This Offering Price per Share is established pursuant to the Non-Employee Directors and
Consultants Retainer Stock Plan for the Year 2004 No. 2, set forth in Exhibit 4.2 to this
Form S-8.
[This message has been edited by Tanangel (edited August 05, 2004).]
Brian *****,
I would first like to introduce myself, my name is James Romero. I work for
Loyola Financial Shareholder Communications. What we do with LiveStar
Entertainment (LSTA) is provide third party objectivity and convey
shareholder questions and comments to upper management, with whom we have
regular contact. There by allowing the management to focus on
executing the business plan, while staying cognizant of shareholders
concerns.
The correct address for Elm is 31 Elm Street,
Toronto, Ontario. The correct information was listed on the website: http://livestar.net/venues.asp , management did not feel it was necessary
for a Press Release. They believe that PRs should be reserved for
significant development achievements.
As I understand the renovation for Elm are progressing well. The tentative
grand opening is still planned for this fall.
The next 10Q filing will be filed soon and should reflect the revenues from
The Sequel.
If you would please respond with a phone number where you can be reached it
would be very helpful in expediting the response time of your inquiries. We
also like to take the opportunity to get to know our client's shareholders.
Our team here at Loyola Financial will do our best to research any questions
you may have, and appreciate any comments or insight you may have concerning
any of our clients.
I look forward to hearing from you. Feel free to call here directly at
(619) 209-6068 or you can email me at lsta@4lfs.com.
A client list and contact form is available online at http://www.loyolafinancial.com or www.4lfs.com
Best regards,
The Loyola Financial Shareholder Communications Team
quote:
Originally posted by Tanangel:
I do beleieve we need all to call the investor relations and voice our dissatisfaction with this action.
WEll, we don't have to contact them as I think they know they have screwed up. I got an email too. It was in response to keeping us up to date on news etc...
Here it is:
"Thank you for your support and long term thinking.
I would first like to introduce myself, my name is James Romero. I work for Loyola Financial Shareholder Communications. What we do with LiveStar Entertainment (LSTA) is provide third party objectivity and convey shareholder questions and comments to upper management, with whom we have regular contact. There by allowing the management to focus on executing the business plan, while staying cognizant of shareholders concerns.
As I understand there are some exciting projects in development at LiveStar right now. As far as when the next press release will be disseminated I can not say for sure. That is up to the management team. Management has expressed to me excitement about the current momentum and potential of developments in progress. Management feels that PRs should be reserved for significant development achievements and is striving to avoid fluff PRs.
I can only echo managements request for shareholders to take a long term time horizon and a tolerance for high risk investments into their assessments.
Our team here at Loyola Financial will do our best to research any questions you may have, and appreciate any comments or insight you may have concerning any of our clients. I have added you to the Informed Shareholders List meaning that you will begin receiving Press Releases directly to your inbox. If you would respond to this email with a phone number where you can be reached we will contact you directly. We at Loyola Financial like to take the opportunity to speak with all of our clients shareholders to get a temperature of how they, the individual feel about the deal.
I look forward to hearing from you. Feel free to call here directly at (619) 209-6068 or you can email me at lsta@4lfs.com.
A client list and contact form is available online at http://www.loyolafinancial.com or www.4lfs.com
Best regards,
The Loyola Financial Shareholder Communications Team"
__________________________
Tanangel, he will get another email from me in regards to the above stock info you have shared with us. I will not send him a "fluff" note about my concerns, and will have lots of good ole "meat and taters" info. I will let you know what they say.
CD
They need to PR the heck out of the new club, get some big names locked in for entertainment, and the price of the stock would go up and not require them to throw out more shares and cause a reduction in the price for .0001-3.
This stock was on the up-trend and I banked it at .02, but that doesn't mean I do not care about it.
The filing and lack of communication to the shareholders is hurting the stock, and although they have added ONE new club to their list if they do not PR it, then it will just be another club along with the millions out there that nobody knows about.
They should have gotten serious backings financially by having so much PR that people would want to back them, and the price of the stock would go up, thus giving them the revenue they needed to get it going instead of hitting the shareholder with the bill. Are they going to file or try to sell more shares everytime they open a new club to help finance it. Hope not.
They are not having to start from scratch with the building. It is built, and as I said the decorating and monitoring of the contracted services can be delegated and monitored. Upper management does not need to focus on that, but should focus on raising money or using money from their other ventures to finance their clubs with and not throw out more shares.
Romero said "allowing management to focus on the business plan"... then they need to share SOME of the "plan" with shareholders.
Quote from Romero "I can only echo managements request for shareholders to take a long term time horizon and a tolerance for high risk investments into their assessments."
I am irritated with them as I own many shares, and knowing high risk stocks we can loose the money. That is a risk I am willing to take. My irritation is with the lack of communication to shareholders, and with the filing they are screwing the stock in the ground... a stock that had, and maybe still has high potential. Cannot blame MM's for this one. They made the decision to not communicate, and to file.
I do have to wonder if the pressure is being put on BY management and that is why we are getting our fluffy emails. Afterall they are paying Romero to do a job...
"Hummm,we have a new club, some names on the venues, but why are our stock prices going down. Hey, we are paying you to do a job and we are not seeing results...."
It would not be fluff to let us know some of the names they are contacting for the club, even if they turn them down. It would not be fluff to even tell us who they are contracting to do the remodeling... that is news to us and keeps us interested. It would not be fluff to say what they are planning for the holidays... what kind of a bash are they planning. What kind of a grand opening are they planning etc...
News like that makes people want to go to that club and be a part of the great opening or holiday party = revenue and profit. I could give many senerios of news they could have given us, including the recent filing that would not have been fluff.
To shareholders that is information and not fluff. Romero says he will send me news to my email address... HELLO, it needs to spend the energy by sending it to the vast public. Get news out on the wires, newspapers etc.. Come on get off your duff, and earn that paycheck.
He makes it sound like management "won't let me tell ya'll anything". Bull! He is being paid to talk to management, give his opinions, and give news, PR's etc... I think with the filings, the price dropping... he should have said, Wait, you are paying me for my opinions and to keep good thoughts about this company out there and we need to send out some sort of communication to the shareholders etc.. so they know what is going on.
Hey, Romero, Mr. PR, you have to PR the shareholders also... and THAT isn't fluff.
Someone hired to tell management about the shareholders comments etc... would have communicated to management the importance of telling shareholders about the filings, and keep us up to date on the remodeling etc... Show us a photo of the remodeling and put it on the net or something... instead of making it sound like management won't let him send out news. The email HE sent me is fluff.
I will hold this for the as Romero said, management said, "long term time horizon" (sorry, that statement irritates me also) because I am riding on alot of freebies and purchased shares, one day will go back up to that .02 or higher or it will totally tank, but I don't think so. I DO think it will sit low for a while, ??maybe month(s), and by the end of the year, or early next year it will pick back up.
If you can afford to do it, then average it down and sit it on the back burner as "management continues with their plans". Holidays are around the corner and clubs etc... are always a hot item during that time of the year. I can only guess.
I rarely vent frustrations or irritations about a stock, management etc... and apologize if my "venting" has offended anyone. I just feel the recent filing and mostly the lack of communication is what hurts this stock and NOT the support and interest from the shareholders.
Whew, now that that vent is over, I think hold long. I think we will be getting some news before long. I sent my other email voicing "concerns", and figure what?? he gets mad and takes me off his email list of people who gets news. (what news, I haven't seen any... yet)
waiting for the end of year and like I said at the beginning of this thread somewhere I am holding long....
Candydish
[This message has been edited by Candydish (edited August 06, 2004).]
[This message has been edited by BizSoft (edited August 06, 2004).]
quote:
Originally posted by BizSoft:
I got in at .0001 yesterday (1 mill shares) and now holding 3.75 mill shares at average between .0002 and .0003. I am bullish on this, anybody agrees with me?[This message has been edited by BizSoft (edited August 06, 2004).]
Hey Biz,
How did you get in at $0.0001. I use Twin Cities Financial as my brokerage and when I try to purchase stock it asks for the number of shares I want and the price total. It lists the Bid at $0.0001, Ask at $0.0003, and Last at $0.0002. How does your interface look when you purchase stock. I just don't want to make an error in submitting my purchase.
So Thursday I left the order for 1 mill at .0001 all day, it got filled later afternoon. then market went up to .0002.
My screen showed the same bid at .0001 and ask at .0003. I guess I got lucky.
What is your reading on this share?
BTW I use scottrade
[This message has been edited by BizSoft (edited August 06, 2004).]
So the Million dollar question is are they waiting to show that 10K will be awesome and will shut everybody up or their cost not at elm but at lajolla have jumped quiet a lot Which I think is still a hole compare to ELM which actually have some serious potential.
But again I urge everyone who is even holding even a little to email at least one line to Loyla Financial and represent dissatifaction that will be good for us all DOLLAR WISE.
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Love this action
On my part I am going to contact LSTA attorneys in Houston for some serious converstions and see how far I can go.
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Love this action
August 5, 2004
Is history about to repeat itself at Livestar Entertainment Group, Inc. (OTCBB: LSTA)? As we reported earlier, the Companys agreement to acquire a Toronto, Canada nightclub called The Sequel from an individual named Terrence Lall was aborted when the seller was unable to deliver audited financial statements but not before Mr. Lall enjoyed a generous payday.
The deal called for Lall to receive a package that included $35,000 and one million preferred shares of Livestar stock that were convertible into 40 million shares of Livestar common stock. Lall received an additional 19 million shares of common stock as a consultant to Livestar. There has been no indication that he returned any of the cash or shares after the transaction died. See Update: Livestar Entertainment Group, Inc. Sequels Seldom Live Up To The Hype.
So what is the next project on Livestars agenda? On July 7, 2004, the Company announced that it was entering into a joint venture to open a liquor licensed entertainment establishment called Elm Street in Toronto. The joint venture partner? Terrence Lall, who will own 49% of the project. Livestars President, Ray Hawkins, projected that Elm Street could potentially generate revenues of approximately $2 million annually with potential earnings of 15% post tax. Presumably, 51% of those profits would go to Livestar.
Before Elm Street can enjoy any of those profits, however, it will have to be built and become operational, and that could prove costly. The July 7th press release did not indicate how the project would be financed. Livestars current revenues (approximately $58,000 for the first three months of 2004) will hardly support a major renovation. In fact, for the first quarter of 2004, Livestar suffered operating losses of more than $273,000.
Livestar may not have much money, but it has plenty of shares at least for now. On June 25, 2004, the Company asked its shareholders to approve an amendment to its Articles of Incorporation which increased the number of authorized common shares from 1 billion to 10 billion. The Company indicated that a significant number of the shares were likely to be utilized for acquisitions and equity financings, and to compensate consultants, attorneys, accountants and investment bankers.
It did not take long for the Company to find a use for a major portion of those shares. On July 1, 2004, the Company filed a Form S-8 registering 700 million shares of common stock, consisting of 350 million shares to be issued under its Employee Stock Incentive Plan For the Year 2004 No. 4, and 350 million shares of common stock to be issued under its Non-Employee Directors and Consultants Retainer Stock Plan For the Year 2004. The Company did not identify the employees, directors or consultants who would be receiving the shares.
Livestar, it should be noted, has only two directors - its CEO and President, Ray Hawkins and its Chief Operating Officer and Chief Financial Officer, Edwin Kwong.
Livestar had been increasing the number of issued and registered shares since the beginning of 2004. As of December 31, 2003, the Company had approximately 280,000 shares of common stock outstanding. Then it opened the spigots. Between January 1st and May 7th, the Company filed six separate Forms S-8, registering a total of 715 million shares to be issued to a combination of employees and consultants. In addition, during the first quarter of 2004, Livestar granted its employees options to acquire 118 million shares of common stock.
As it turned out, the Company was far from done. On August 2, 2004, Livestar filed a Form S-8 registering 6 billion shares 5 billion to be issued under its Employee Stock Incentive Plan For the Year 2004 No. 5, and one billion to be issued under its Non-Employee Directors and Consultants Retainer Stock Plan For the Year 2004 No. 2.
Once again, the Company did not identify any of the individuals who would be receiving shares.
In less than eight months, Livestar had registered more than 7 billion shares. Perhaps that explains why the Company often trades more than 20 million shares a day. Indeed, it has traded over 100,000 shares on nine trading days since late June.
Unfortunately, the identity of the sellers, like that of the S-8 recipients, remains a mystery.
2004 Stock Patrol.com. All rights reserved.
WE'RE BACK ON PATROL
quote:
Originally posted by famtrecrew:
In my scottrade account today I am seeing a listed high of .0018 !! Is anyone else seeing this or is my account just tripping out.
I called the brokers office to verify this high and he said that it was incorrectly reported and the real high is .0003 so I hope no one got excited.
On August 5, 2004, the holder of approximately 75% of the voting power of the outstanding shares of the Companys Common and Preferred Stock (par value $0.0001) voted to approve:
The reverse split of the Companys Common and Preferred Stock (par value $0.0001) so that upon effectuation of the split, one (1) New Share of the Companys Common and Preferred Stock will be issued for up to each thousand (1,000) shares of the Companys Common and Preferred Stock currently issued and outstanding with each fractional share rounded up to the next whole share (the Reverse Split) except that the Reverse Split shall not affect the shareholdings of those shareholders holding one hundred (100) or fewer shares of record as of the Record Date.
Prior to the Reverse Split, the Company had 2,144,468,337 common shares, 875,000 Series A convertible preferred shares and 60,000,000 Series B convertible preferred shares of the Companys Common and Preferred Stock outstanding. The Company has no intention of becoming a private company and there are no plans to take the Company private.
To more fully understand these matters affecting Livestar Entertainment Group, Inc., a Nevada corporation (the Company), you should carefully read the entire Information Statement, which is first being mailed to stockholders on or about August 16, 2004 and it is accompanied by a Form 10-KSB Annual Report for the fiscal year ended December 31, 2003 attached hereto and incorporated herein as Annex A.
THE COMPANY HAS NOT AUTHORIZED ANYONE TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATIONS OTHER THAN THOSE CONTAINED IN THIS INFORMATION STATEMENT AND, IF GIVEN OR MADE, YOU MUST NOT RELY UPON SUCH INFORMATION OR REPRESENTATION AS HAVING BEEN AUTHORIZED BY US OR BY ANY OTHER PERSON.
The Company is subject to the informational requirements of the Securities Exchange Act of 1934 (the Exchange Act) and in accordance with the Exchange Act, the Company files reports, proxy statements, and other information with the U.S. Securities and Exchange Commission (the Commission). You may inspect and copy of the reports, proxy statements, and other information filed by us with the Commission at the public reference facilities maintained by the Commission at Room 1024, 450 Fifth Street, N.W., Washington, D.C. 20549, and as well as the Commissions Regional Offices. You may also call the Commission at 1-800-SEC-0330 for more information about the public reference room, how to obtain copies of documents by mail or how to access documents electronically on the Commissions Web Site at (http://www.sec.gov).
They lied to the shareholders and have lost all credibility with me
[This message has been edited by massageguy (edited August 10, 2004).]
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kjs69
Are you addicted when Allstocks.com is your homepage?
LIVESTAR Entertainment Group, Inc. Provides Corporate Update and Summarizes Increased Second Quarter Growth
Source: http://biz.yahoo.com/iw/040811/071164.html
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FurrySound
-DD-GLTA-Unless I've quoted a source, I know not what I speak of.
quote:
Originally posted by FurrySound:
And the R/S is coming very soon...Source: http://biz.yahoo.com/iw/040811/071164.html
quote:
Originally posted by FurrySound:
And the R/S is coming very soon...Source: http://biz.yahoo.com/iw/040811/071164.html
Did I just miss the news about the R/S or what? I didn't see anything bad in this release.
quote:
Originally posted by Jumper:
can someone please tell me more about a reverse split? Is it always bad news when a company does one?
Usually after the R/S the pps drops back down so...
2.5M at 0.0001 before the split gets you $250
After the split 2500 shares at 0.1 still $250
If the pps drops back to the same level... lets say 0.001 now your 2500 shares are worth $2.50, alot of people lose money after the split.
They have to show that they can hold a pps of 0.1+ to get my attention again, but I think it will drop. I'd rather take a 66% loss then a 99.9% lose.
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kjs69
Are you addicted when Allstocks.com is your homepage?
quote:
Originally posted by candylion:
why is a forward split considered good to a stockholder? and why would a company want to do a forward split? what's in it for them?
Consider this. A company with a pps @ $100. How hard is it to the pps to $140? Depending on the o/s and the float, it might never reach. A company splits, and now double the o/s, float, and 1/2 the pps. So now it is more liquid, new investors can jump in, and what is the chance that the pps at $50 can make it to $70? It happened before, it should be able to happen again. Same thing with a penny stock.
But what do I know.... I've only been trading since June 04, and already had to jump ship on a couple of stocks.
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kjs69
Are you addicted when Allstocks.com is your homepage?
Thanks
------------------
kjs69
Are you addicted when Allstocks.com is your homepage?
quote:
why is a forward split considered good to a stockholder? and why would a company want to do a forward split? what's in it for them?
Candylion,
A forward split is good for the shareholders because you are issued more shares, if it's a 2 for 1, your position doubles, 3 for 1 it triples, etc. The pps goes down by the same factor but typically, if it's a good stock, it will resume a slow steady climb. It's good for the company as the lower pps can attract more investors. What I dont understand is the reasoning for a forward split in penny land. It really makes no sense. In this part of the market a reverse split is a death blow and forward splits are usually viewed suspiciously.
quote:
Originally posted by CH:
5.66 MIL SHARE SOLD NOW ON 0.0002 THAT MEAN I AM DOWN ONLY 657 $ (GOT IN AT 0.0001).
I got in before I knew abt R/S.
I called Ameritrade and talked a rep. I told him how come scottrade filled orders that were submitted later. He said its otcbb, not electronic trading blah blah. I just told him that Scottrade is better in this particular case
Will see what happens. Good luck.
quote:
Originally posted by Tanangel:
I also had the order set for excecution at .0002 in two seperate accounts. Scottrade got excecuted but ameritrade never did.
quote:
Originally posted by CH:
AMERITRADE IS GOOD & CHEAPER BUT IT JUST TAKES TO LONG. (THATS WHAT I HEARD I PERSONALY HAVE NEVER USED IT).
[This message has been edited by cool1sh (edited August 13, 2004).]
The Company was notified that its common stock was trading on the Berlin Stock Exchange under the symbol LEP (www.berlinerboerse.de/index.html?LANG=en&debug=) without management's prior knowledge or authorization. A market maker in Germany is able to initiate a listing on the Berlin Stock Exchange without the Company's knowledge or authorization. The listing on the Berlin Stock Exchange may have had a negative impact on the price per share of LIVESTAR's common stock. LIVESTAR believes market makers in Germany may be trying to avoid U.S. regulations and engage in a practice called "naked short selling," that involves the selling of non-existent shares, which can drive down the price of an issuer's shares. LIVESTAR has since instructed the initial sponsoring market maker to cease and desist trading.
In closing, as stated previously, LIVESTAR'S commitment to a long term plan requires a long-term time horizon from its shareholders. The Company is committed to its strategy and will endeavor to successfully execute its business plans over time.
This is from the old PR
From my conversation with management, due to the currently depressed PPS, they felt it necessary to register 5b options and 1b common shares via an S-8. These shares are to be used over time to secure and attract experienced key additional employees and consultants to manage / work at current and future developments in Canada and the United States. These individuals are essential to business running efficiently. Management also pointed out that the S-8 shares are registered / (not yet) issued.
If you have yet to read the latest Pre 14C filed Friday, I would encourage following this link to the SEC filing: http://www.sec.gov/Archives/edgar/data/1088199/000110801704000435/livestarpre14c.htm . In essence it says that LiveStar is now formulating plans for a Reverse Split up to 1000 to 1. As I understand the management was endeavoring (view the May 11th PR) to avoid doing a Reverse, however do to the current market situation they had no alternative. The RS will take place in approximately 20 days, and does not require a proxy vote due to the fact that Ray Hawkins holds more than 51% of the vote.
If you have any additional question, please provide a number where you can be reached so that we may discuss the mater further.
Best regards,
James Romero
Loyola Financial Shareholder Communications
(619) 209-6068
quote:
Originally posted by Tanangel:
I also had the order set for excecution at .0002 in two seperate accounts. Scottrade got excecuted but ameritrade never did.
Tanangel- are you selling all your shares or hoping for some kind of rebound. You were so hot on this stock- maybe it will still go
Has anybodys order gone through for "0"
quote:
Originally posted by realperson:
Bid 0
ASK 0
Ok when is it time to go to the "bank"
1600000 shares bought on impulseHas anybodys order gone through for "0"
------------------
FurrySound
-DD-GLTA-Unless I've quoted a source, I know not what I speak of.
Anyone able to get this done?
Good Luck!!
quote:
Originally posted by Spyder5000:
Just Looking, I really doubt it.. as most people I have heard from cannot get executed at .0002 for a sell. If you try it just make sure you get out before the R/S at the end of the month, and you will only be out 2 brokerage commissions. I actually sold all mine at .0001, don't have the time to wait.. also wanted to average down on CDVJ.Good Luck!!
NE BODY WHO IS WITH SCOTTRADE CAN EXECUTE AT 0.0002 WHEN IT COMES CLOSE, BUT NOT WITH AMERITRADE. I STILL DO THINK IT WILL GO BACK UP BUT I DON'T KNOW HOW MUCH OR IN WHAT TIME.
Anybody allowed to sell?
quote:
Originally posted by Upside:
Cavehunter,
I don't think you're going to be able to sell this at anything above .0001. It's going to sit at .0001/.0002 until the reverse split and then it's game over. Your best chance of seeing anything over the .0001 is IMMEDIATELY after the reverse, as you might see a tiny spike up before the downward spiral. You're going to have to try to execute an order within seconds of it happening though. Best bet is to sell now at .0001, lick your wounds and move on. As for me, I'm going to see just how low a 500 dollar investment can go. I'll let the shares sit in my account forever as a constant reminder to do my homework.
Whats the date for r/s ne one have ne idea.
quote:
Originally posted by massageguy:
Has anyone thought maybe once this night club gets going and makes money this stock could take of. Even with a reverse split it could take off later.
I'll sit and wait for 6 months and maybe I'll be pleasantly surprised.
How may of you are gonna hold through the split????
RESULTS OF OPERATIONS
FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2004
For the six-month period ended June 30, 2004, the Company earned revenues of $171,319. The revenues were related to ticket sales from three (3) concert productions through the Company's live events business, and from beverage sales and entry fees from the Company's venues business.
During the six month period ended June 30, 2004, the Company incurred operational expenses of $1,415,999. These operating expenses included: business development & consulting fees of $775,051, wages and benefits of $ 235,104, and professional fees of $116,517 for the six month period ending June 30, 2004. The company continues to incur significant consulting costs, which includes business development, in its effort to realize its business strategy and its business plan.
During the six month period ended June 30, 2004, the Company incurred a net loss from operations of $1,244,680.
FOR THE THREE MONTH PERIOD ENDED JUNE 30, 2004, COMPARED TO THE THREE
MONTH PERIOD ENDED JUNE 30, 2003.
For the three month period ended June 30, 2004, the Company earned revenues of $ 113,219 as compared to revenues of $502 for the same period ended June 30, 2003. The revenues in 2004 are realized from continued efforts in our Live Events business that began in 2003, and our Venues business in 2004.
For the three month period ended June 30, 2004, the Company incurred operational expenses of $1,084,605, as compared to $237,398 during the same period in 2003. These operating expenses included: consulting fees and business development expenses $670,611 and $179,184; wages & benefits of $117,146 and $0, and professional fees of $79,440 and $24,585 for the three month period ended June 30, 2004, and 2003, respectively. The increase in expenses from June 30, 2004 as compared to the same period in 2003 is due to the increased level of business and operating activities in the Company.
The Company incurred a net loss from operations of $971,386 for the fiscal quarter ended June 30, 2004, as compared to $236,896 for the same period in 2003.
Liquidity and Financial Condition As Of June 30, 2004
We had cash-on hand of totaling $0 as of June 30, 2004.
Current Development Finance Strategy:
In order to finance the first and second acquisition or development establishments the Company may use its preferred or common stock to finance the acquisition or development or to raise the necessary capital for acquisition or development.
Future Development Financing Strategy:
In the future, we hope to fund the majority of our new establishment locations through the selling of a minority interest in the new establishments through the sale of up to 49% of the equity or through limited partnerships. This minority interest is hoped to be sold to either individual investors who wish to invest directly into an establishment or into a fund or partnership that will be funded by investors wishing to diversify their investment over a number of establishments that the fund or partnership may invest in. This proposed fund is planned to be formed by LIVESTAR exclusively for LIVESTAR establishments. The Company has begun the establishment of an internal corporate finance department and external network or syndicate of investment advisors, investment bankers and broker dealers that will raise capital via the direct investments strategy and/or form the fund or partnership that will raise capital through the fund or partnership strategy. This planned internal corporate finance department has commenced development through the recent formation of LIVESTAR Entertainment Capital Corporation. It is planned that investors under this strategy are planned to receive cash dividends and some capital stock or warrants in the Company.
In addition to the direct investment and fund or partnership strategy the Company hopes to raise capital for its new establishments through the forming of a real estate financing plan that is hoped to utilize real estate financing to fund the purchase of properties and subsequently secure construction financing to fund the renovations of the establishment.
We believe that this Future Development Financing Strategy will enable us to achieve our development goals with a hope over the long-term of reducing the potential dilution to our existing shareholders. By raising capital directly in each establishment through our planned Future Development Financing Strategy we may not have to dilute the existing shareholders to any great extent to grow the business. As our cash producing businesses grow due to the planned implementation and hopeful success of the Future Development Financing Strategy we plan to utilize the available cash to pay for operations without having to use stock to pay for large and important operational items item such as staff and consultants.
The result of this is that as our cash flow may grow as our dilution may slow. More specifically, we have developed comprehensive business and financial plans that result in our development of a network of entertainment establishments that should operate on a cash positive basis and without incurring substantial dilution to stockholders such that the Company can possibly increase its overall valuation substantially. This possible increase in the Company's overall valuation may be accomplished by using the positive cash flow to buy back the Company's common stock from the public float. There is no current plans to implement a stock buy back program, although one is intended over the long-term and will only be implemented based on the success of the foregoing and solely of the discretion of the Company's management and board of directors.
In addition to the above we plan we plan to invite direct investments into the Company to provide funds for general corporate purposes.
CAPITAL REQUIREMENTS
We believe that the first acquisition or development of an entertainment establishment will require approximately a minimum of $500,000 for the transaction, plus approximately $100,000 in legal, accounting and administrative expenses. In addition our first acquisition or development will require a minimum of another $400,000 for working capital and general corporate purposes. This is a minimum total of approximately $1,000,000 that will be required in the next quarter during which we are hoping to make the first acquisition or development. In the following 3 months, we plan to execute one or two additional acquisitions or developments. We believe that the cost of a second and third acquisition or development project will be approximately a minimum of $1,000,000 each and that approximately another $500,000 minimum each will be required for the same purposes as listed above for the first acquisition or development and for working capital and general corporate purposes. Thus, we anticipate needing a minimum of $4,000,000 of investment capital during the next six months.
After the first two acquisitions or development projects, we intend to develop other entertainment establishments from initial build-out rather than from acquisitions. Our plan is to open two additional entertainment establishments by the end of 2004 and we anticipate that additional funding (approximately $1,000,000) will be required to accomplish this. Management anticipates that funding requirements for this plan will be less than the overall cost of opening these nightclubs, since the revenues from the first two or three nightclubs is expected to generate enough positive cash flow to reduce the level of external capital required. We have developed comprehensive business and financial plans that result in our development of a network of entertainment establishments that should operate on a cash positive basis and hopefully without incurring substantial dilution to stockholders such that the Company can possibly increase its overall valuation substantially. The Company believes it will require approximately $1,000,000 to grow its live events business unit, including the cost of acquisitions or development and their subsequent integration and for the venture development of other potential lines of business for 2004. The total additional working capital financing described in this section is planned to also include the development of other synergistic business units such as, including but not limited to, membership services, brand licensing and merchandising.
CAPITAL ACQUIRING PLANS
Management plans on initiating a series of securities offerings to raise the investment capital needed to meet our acquisition and development plans. Although we will make efforts to minimize dilution to current shareholders, we may not be able to avoid significant dilution due to many factors, including but not limited to, the closing of financing at lower than the desired market price of the Company's common stock.
LIVESTAR hopes to secure the financing to satisfy the capital needs for each phase of its implementation plan through the execution of various funding methods, primarily financing through its Future Development Financing Strategy, private placement investments or debt financing. LIVESTAR hopes to achieve this by securing relationships with accredited individual investors, investment bankers, venture capitalists, and/or finance investment advisors that have the experience and relationships to aid LIVESTAR with its capital raising efforts. The source of the capital may be comprised of a mix of principal shareholders, private investors and venture capital companies.
If needed capital investment for our acquisitions or developments is not available, in whole or in part, we intend to delay the implementation plan regarding our acquisitions or development plans until sufficient investment capital becomes available. We cannot give any assurances that we will raise sufficient investment capital to meet the business plan. In addition to delays to the implementation plan regarding our acquisition or development plans due to insufficiency of investment capital, we may suffer other consequences, including but not limited to the following: We may have to significantly alter the scope and/or direction of our business plan and subsequent capital requirements; we may have to suspend or discontinue operations of one or more of our business units; or we may have to suspend or discontinue operations of the Company if we become insolvent as a result.
Until planned acquisitions (current and future) and new development establishments begin to produce significant revenues and subsequent positive cash flow, we will be reliant on capital received from private placements, loans, and the exercise of options and warrants. Due to the depressed market for our securities, we may not be able avoid significant dilution to current shareholders. In addition, we expect to continue to retain certain management, staff and consultants, such as legal counsel, and may need to compensate these individuals through the issuance of our common stock as compensation. These stock based compensations may result in significant dilution to current shareholders due to the depressed market for our securities. We also continue to reduce or prevent collection of outstanding vendor debts and accounts with creditors, such as suppliers and consultants, which could result in litigation against the Company. There can be no guarantee that all of these negotiations will be successful and the outcome of these negotiations may include settlements in cash and/or issuance of common stock. These stock based settlements may result in significant dilution to current shareholders due to the depressed market for our securities. We plan on continuing to meet certain of our expenses through the issuance of our shares of common stock, which may cause additional and significant dilution to existing shareholders due to the depressed market for our securities.
Aug 25, 2004
(c) 1995-2004 Cybernet Data Systems, Inc. All Rights Reserved
Again I wonder in this enviorment how in the world Poor Martha is wearing stripes