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American Water Star Inc. completed the acquisition of All-Star Beverages, Inc. (formerly Star Beverage Inc.), effective as of Dec. 24, 2002. All-Star Beverages. was previously a privately held company.
The acquisition of All-Star Beverages has a total value of $6,322,912. The assets consist of equipment, finished goods, accounts receivable and cash. American Water Star has issued 8.2 million shares of common stock in exchange for 100 percent of All-Star Beverages.
The total combined assets for American Water Star now exceed $7.5 million.
"The company has now positioned itself with adequate equipment and inventory to begin the new year consistent with its corporate goal of having sales in excess of $20 million for the 2003 calendar year," stated Roger Mohlman, president and CEO of American Water Star.