MOPN, formed in 2007, is the sole provider of oil absorbent products that utilize the patented MOP Maximum Oil Pickup® technology for rehabilitating hydrocarbon contaminated land and water. This hydrophobic sorbent material is made from 100% recycled fibers and other all natural ingredients and can absorb up to 30 times its own weight in oil without absorbing water; restores traction on slippery surfaces; biodegrades oil; and safely restores a clean, natural environment. The company currently has 8 employees and the management of MOPN will continue to operate the acquired MOPN operations as ECO-Science & Technology, Inc., a wholly-owned subsidiary of Silver Star Capital Holdings.
The acquisition closed on November 24, 2008, and was structured as an asset purchase of the operations of MOPN. The purchase price paid consisted of 1,000,000 shares of Silver Star Capital Holdings common stock. Additional purchase consideration of 4,000,000 shares of Silver Star Capital Holdings common stock will be paid to Charles M. Diamond, patent holder of the MOP Maximum Oil Pickup® technology and other members of senior management.
About Silver Star Capital Holdings, Inc.:
Silver Star Capital Holdings, Inc. is an acquisition, holding and management services company. Our business strategy involves the consolidation of a diversified portfolio of companies engaged in eco-friendly and environmentally responsible businesses which demonstrate the opportunity for sustainable high-margin growth. We look for undervalued companies and take an active role in new subsidiaries to enhance their growth. Additional information about Silver Star Capital Holdings can be found on the Web at www.ssta1.com.
Safe Harbor Statement:
The statements contained in this document that are not statements of historical fact, including, but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including all statements concerning the Company's future expectations for the acquired operations of MOPN, which include but not limited to statements regarding expected future financial performance of the Company and the acquired operations of MOPN, including statements related to expected revenue and profits from or related to such acquisition, as well as statements related to any and all other potential benefits that the Company expects to result from the acquisition. All such statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The actual results of the future events described in the forward-looking statements in this document could differ materially from those stated in the forward-looking statements due to numerous factors. Recipients of this document are cautioned to consider these risks and uncertainties and to not place undue reliance on these forward-looking statements. The company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
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Contact:
Silver Star Capital Holdings, Inc.
Cliffe Bodden
Chief Executive Officer
(407) 522-7201, Ext. 111
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