15.11.2006: Meldung: DayStar Technologies, Inc.: Results of Special Meeting of Shareholders
Monday November 13, 8:45 am ET
HALFMOON, N.Y., Nov. 13 -- DayStar Technologies, Inc., a developer and manufacturer of innovative CIGS Photovoltaic Foil(TM) products, today announced that at the continuation of a special meeting of shareholders convened and adjourned on November 9, 2006, shareholders approved the issuance and sale of DayStar"s common stock to an institutional investor in accordance with the terms of a convertible promissory note (the "Note") issued to the investor on May 25, 2006. Once a quorum was established, the proposition was approved by a majority of holders of the Company"s common stock represented either in person or by proxy.
Specifically, shareholders authorized the issuance and sale of (1) up to 1,968,217 shares of the Company"s Common Stock ("Shares") issuable as payment of principal and penalties (if any) on the Note; (2) up to 74,815 Shares issuable as payment of interest on the Note (assuming all interest is paid in Shares except for the first payment of $114,041 which was paid in cash), (3) 782,609 Shares issuable upon exercise of the Class A Warrant and, (4) if the Company requires the Investor to convert the Note in certain circumstances, as described in detailed filings with the SEC, 550,725 Shares issuable upon exercise of the Class B Warrant.
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is an emerging leader in low cost, high efficiency Photovoltaic Foil(TM) that converts sunlight into energy. The Company manufactures CIGS solar cells, which are deposited on flexible metal foils using production processes adapted from computer component manufacturing. As an alternative to wafer-silicon solar cells, DayStar believes the unique combination of its CIGS solar cell design coupled with proprietary manufacturing processes on flexible metal substrates could substantially lower costs and remove deployment barriers currently limiting large adoption of solar energy. For more information on the Company, please visit http://www.daystartech.com .
FOR MEDIA RELATIONS INQUIRIES, PLEASE CONTACT
Erica Dart, DayStar Technologies, Inc.
518-383-4600 ext. 419 or via email firstname.lastname@example.org
FOR INVESTOR RELATIONS INFORMATION, PLEASE CONTACT
Daniel Conway, Chief Strategist, Elite Financial Communications Group
407-585-1080 or via email email@example.com
Source: DayStar Technologies, Inc.