SOURCE: NavStar Technologies, Inc.
ANAHEIM, CA--(Marketwire - Aug 6, 2012) - NavStar Technologies, Inc. (PINKSHEETS: NVSRD); The following is a letter to shareholders from N. Douglas Pritt, Chairman & Chief Executive Officer of NavStar Technologies, Inc.
August 2, 2012
At a Special Meeting of the NavStar Board of Directors and with support from over 60% of the shareholders, approval was obtained to execute a Sixty Five to One reverse stock split effective August 1, 2012. The name of the public entity will change from NavStar Technologies, Inc. to Energy Revenue America, Inc. The trading symbol NVSRD will remain for a few weeks but will be changed prior to the August 29, 2012 when trading will resume under the Energy Revenue America, Inc. symbol.
The NavStar Board and shareholders have given considerable thought to the decision of a reverse stock split and the merger with Energy Revenue America, Inc. and believe it has considerable long term value to the NavStar shareholders.
Shareholders who hold their shares in brokerage accounts or "street name" will not be required to take any action to affect the exchange of their NavStar shares for Energy Revenue America shares. Shareholders of record who hold physical certificates have the option to surrender their old stock certificates for new stock certificates reflecting the adjusted number of shares and the new name. Corporate Stock Transfer, NavStar's transfer agent, will act as the exchange agent for the purposes of implementing the exchange of stock certificates.
N. Douglas Pritt