Northstar Electronics CEO Executes Stock Conversion
07 Junio 2012 - 8:30AM
Marketwired
Northstar Electronics, Inc. (OTCQB: NEIK) (PINKSHEETS: NEIK)
announces today the conversion to common stock of funds owed to Dr.
Wilson Russell, CEO of Northstar Electronics.
On May 22, 2012, Dr. Wilson Russell, CEO and Director of
Northstar Electronics converted two hundred thousand US dollars
($200,000) of monies owed to him by the company into common shares
of company stock. The price of conversion was five cents per share
($0.05).
This brings total conversions by Dr. Russell cumulatively to
approximately four hundred and fifty thousand dollars ($450,000)
into common stock over the last few years, all executed at share
prices higher than trading prices at the times of conversion.
Northstar Electronics now trades on the OTCQB and intends to
maintain its reporting status with the SEC.
About Northstar Electronics, Inc.
Northstar Electronics, Inc. is a holding company with executive
management specialized in design engineering, defense, advanced
systems, security, sonar, systems integration, and prototyping
fields. Echotec Sonar Corporation is a wholly owned subsidiary with
founders that have over eighty combined man-years of expertise
developing high-frequency sonar products within the defense and
commercial industries. Northstar is actively pursuing opportunities
through acquisition, joint venture, or merger to increase revenues
and expand its base of subsidiaries.
http://www.northstarelectronics.com
Safe Harbor Statement This press release contains
forward-looking statements. These forward-looking statements are
based on the current plans and expectations of management and are
subject to a number of uncertainties and risks that could
significantly affect the company's current plans and expectations,
as well as its future results of operations and financial
condition. Such risks include, but are not limited to, the effects
of competition with existing enterprises and/or new entrants into
the company's markets and industries, fluctuations in currency
exchange rates, domestic and global economic conditions generally,
the company's ability to obtain financing and attract suitable
personnel where required to fully implement its business plan, the
adoption and acceptance by the marketplace of the company's
technologies and product and service offerings, the possibility of
new technologies that are competitive with the company's planned
product and service offerings and the effects of future political
and economic developments both in the United States and abroad,
among others. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of information, future events or otherwise.
For further information contact Rich Kaiser Investor Relations
YES INTERNATIONAL yes@yesinternational.com 800-631-8127
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