Mobile Star Corp. (MBSTD.QB) Announces That Management Has Identified and Co-Underwritten Commercial Loan Opportunity and Submits to Board of Directors for Funding Approval and Tuesday, March 27, 2012, Week Five Shareholder Call
(firmenpresse) - BEVERLY HILLS, CA -- (Marketwire) -- 03/23/12 -- MOBILE STAR CORP. (OTCQB: MBSTD) (PINKSHEETS: MBSTD) is pleased to announce that management has identified and underwritten with the ACG Company a commercial loan opportunity and submitted a request for funding approval to MBST Board of Directors.
"The loan is a participation in a commercial real estate note, secured with senior first mortgage deed of trust on subject property, with a Loan to Value ratio of 44% based on its income approach commercial appraisal." Mr. George Ivakhnik, CEO, further added, "This loan is a refinance and is personally guaranteed by borrowers and corporations operating from its subject real estate facility. It has also been underwritten and guaranteed by the SBA for up to 85%."
The Tuesday, March 27th, 2012 shareholder's call will to discuss the Company's progress and future real estate loan opportunities.
The shareholder calls are scheduled for every Tuesday at 4:05PM EDT and are open to all Mobile Star shareholders by dialing 1 (559) 726-1300. The participant code is 662-692.
Mobile Star Corp. was incorporated in Delaware on December 25th, 2007 and is an evolving company. Most recently, George Ivakhnik, the new company's CEO has initiated board-approved additional business focuses to existing course of business, including acquisition and financing of companies in socially responsible sectors of U.S. economy with "disruptive" products and strong management teams.
Acer Capital Group ("ACG") is a global holding company of Private Equity, foreign and domestic Funds in the business of deploying capital. In 2008, ACG enter into the SBA-504 space knowing that government induced lending platforms was going to be in demand. After 4 years and over 200 transactions in the space, ACG's SBA platform has become a premier national lender in this space.
The SBA 504 Loan program is a powerful economic development loan program. As of February 15, 2012, the $50 Billion in 504 loans has created over 2 million jobs. This program is a proven success and win-win-win for the small business, the community and participating lenders. 504 Loans are typically structured with SBA providing 40% of the total project costs, a participating lender covering up to 50% of the total project costs, and the borrower contributing 10% of the project costs. Under certain circumstances, a borrower may be required to contribute up to 20% of the total project costs.
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. When used in this document, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements.
Contact
Mobile Star Corp.
Real Estate Division
1(646) 512-5809
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Datum: 23.03.2012 - 14:32 Uhr
Sprache: Deutsch
News-ID 127914
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BEVERLY HILLS, CA
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Commercial & Investment Banking
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