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6.10.2006: Meldung: DayStar Technologies Announces Principal Payments
DayStar Technologies, Inc., a developer and manufacturer of innovative CIGS Photovoltaic Foil(TM) products, today announced that it has repaid $1,665,653 in principal on the $15 million Senior Convertible Note issued to an institutional investor in connection with the Private Placement transaction entered into on May 25, 2006.
Specifically, on August 25, 2006, DayStar issued 52,636 shares of the Company"s Common Stock in satisfaction of a $400,000 optional redemption of principal by the investor and on September 10, 2006 issued 163,043 in shares of the Company"s Common Stock, and paid $200,000 in cash in satisfaction of the first principal payment due on the Note. The investor agreed to defer for a period of up to two years, but until no later than September 10, 2008 $609,347 of the $1,875,000 September 10, 2006 principal payment.
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 .
SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future, " "plan" or "planned, " "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including risks that our products may not achieve customer acceptance or that they will not perform as expected, and other risks identified in our annual report on Form 10-KSB and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and DayStar Technologies Inc. undertakes no obligation to update such statements.
CONTACT:
Dodi Handy, Elite Financial Communications Group
407-585-1080 or via email [email protected]
Source: DayStar Technologies, Inc.
Specifically, on August 25, 2006, DayStar issued 52,636 shares of the Company"s Common Stock in satisfaction of a $400,000 optional redemption of principal by the investor and on September 10, 2006 issued 163,043 in shares of the Company"s Common Stock, and paid $200,000 in cash in satisfaction of the first principal payment due on the Note. The investor agreed to defer for a period of up to two years, but until no later than September 10, 2008 $609,347 of the $1,875,000 September 10, 2006 principal payment.
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 .
SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future, " "plan" or "planned, " "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including risks that our products may not achieve customer acceptance or that they will not perform as expected, and other risks identified in our annual report on Form 10-KSB and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and DayStar Technologies Inc. undertakes no obligation to update such statements.
CONTACT:
Dodi Handy, Elite Financial Communications Group
407-585-1080 or via email [email protected]
Source: DayStar Technologies, Inc.