Telecom Lead America: NavStar Technologies has announced
that it will merge with Energy Revenue America.
N. Douglas Pritt, chairman and CEO of NavStar
Technologies said that at a Special Meeting of the NavStar Board of Directors,
the company got approval from over 60 percent of the shareholders to execute a
Sixty Five to One reverse stock split effective August 1, 2012.
He added that the name of the public entity will change
from NavStar Technologies to Energy Revenue America.
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 company said that its Board and shareholders believe
the merger will bring considerable long term value to the NavStar shareholders.
NavStar Technologies to offer low cost machine-to-machine (M2M)
Earlier, NavStar Technologies announced that it will
leverage its wireless/GPS hardware and services platform to provide a low cost
solution to tap opportunities in machine-to-machine (M2M) market.