Silverstar Holdings Ltd (SSTRF)

[BreakoutÎnvestments]

Nearing a dollar a share

[bearart]

guess nobody cares about a great quarter.

[bearart]

guess nobody cares about a great quarter.

[bearart]

first post here. i have a bit of this company. any predictions for tommorrows price action.

[TikiGal]

Ugh! I haven't been watching SORC and I like to enter around $2. Going to ck it now. Thanks Moses..

GLTY. Hopefully this news gets some buzz tommmorow. SSTR is a steal at this price. IMO!

Have a wonderful evening

[Moses777]

WOW, I love that. That will make for a nice charge. I was able to get into SORC at 2.03 so hopefully that will ease up to 2.28 before I sell it. Thanks, you are so sweet for letting me know. God Bless

[TikiGal]

I added more eod today on SSTR. Earnings came out a little while ago and they look great.

Silverstar Holdings Reports Record Second Quarter 2008 Results
Tuesday February 12, 4:14 pm ET
Second Quarter Revenues Up 260 Percent to Record $10.8 Million; Adjusted EBITDA $2.1 Million or $0.11 Per Share


BOCA RATON, Fla., Feb. 12, 2008 (PRIME NEWSWIRE) -- Silverstar Holdings, Ltd. (NasdaqCM:SSTR - News), a leading international publisher and developer of interactive entertainment software, reported financial results for the second quarter of fiscal 2008 ended December 31, 2007. The company also reaffirmed its outlook for the full fiscal year ending June 30, 2008.
ADVERTISEMENT


Second Quarter 2008 Financial Results, as Compared to the Previous and Same Year Ago Quarter:

Revenues for the quarter totaled a record $10.8 million, an increase of 177% from $3.9 million in the previous quarter and a 260% increase from $3.0 million a year ago. The results were driven primarily by the release of 16 SKUs, particularly the highly successful introductions of Jackass and Animal Paradise, each across multiple game platforms and together accounting for approximately 55% of revenues in the quarter. The year ago quarter included only one month of operating results from the company's new subsidiary, Empire Interactive, due to the timing of its acquisition.

Gross margin increased 2% over the previous quarter to 61%, and increased 3% over a year ago, largely due to increased use of digital distribution, as well as improved sales of higher margin back catalog and republishing product offerings.

Adjusted EBITDA, a non-GAAP measure, totaled $2.1 million or $0.11 per share, as compared to an adjusted EBITDA loss of $1.2 million or ($0.09) per share in the previous quarter and an adjusted EBITDA loss of $0.6 million or ($0.06) per share a year ago. A more detailed discussion and reconciliation of adjusted EBITDA to operating income is included at the end of this release.

Net loss totaled $1.5 million or ($0.08) per share, as compared to a net loss of $4.4 million in the previous quarter or ($0.35) per share and a net loss of $1.3 million or ($0.14) per share a year ago.

``These record results are well in line with our expectations as our game release schedule began to accelerate and we generated positive cash-flow during the quarter,'' said Clive Kabatznik, CEO of Silverstar Holdings. ``New major releases, combined with strong sales in our Xplosiv value category, contributed to a healthy 61% gross margin for the quarter and a much stronger balance sheet. While revenues were more than double over last year as a result of our acquisition of Empire in December 2006, we expect to realize even more dramatic improvements in the second half of the fiscal year as we continue to build momentum across the board.''

Second Quarter Fiscal 2008 Operational Highlights



* Released 16 SKUs, as compared to seven in the previous quarter,
including Jackass (PS2, PSP), Animal Paradise (DS), Speedball II:
Brutal Deluxe (Xbox 360), and International Cricket Captain (PS2,
PSP).

* Signed an exclusive UK publishing agreement with Microsoft
Corporation under Empire's value label, Xplosiv, for several
classic Microsoft PC games.

* Signed a publishing agreement to bring the best-selling classic
adventure title, Myst, to the Nintendo DS platform in North America
in the third quarter of fiscal 2008. This will be the first direct
sale product offered by the company's new North American sales
team.

* Signed an agreement with Valcon Games, LLC to publish and
distribute in Europe and all PAL territories the Ultimate Board
Game Collection for the PlayStation 2(tm) and PSP(tm) (PlayStation
Portable), and on Wii(tm) -- the first Wii product to be sold by
the company.

* Back catalog and republishing sales realized record levels due to
improved retail channels and broader digital distribution.

Second Half Fiscal 2008 Outlook

``In the second half we will continue to build on our excellent strategic position in the interactive entertainment industry to support our long-term business model,'' said Kabatznik. ``This model focuses on creating company-owned game franchises, accessing more titles for publishing, and leveraging back catalog titles across both retail and high-growth, high-margin digital distribution channels. The consistent application of this broad based business model should continue to sustain revenue growth, maintain healthy margins, and drive profitability.''

Added Kabatznik, ``With more than $2.0 million invested on software development in the quarter, and $1.8 million of this amount capitalized, the release schedule for the balance of the fiscal year and into 2009 looks strong. We have 26 SKUs planned for release across multiple game platforms during the second half of 2008. Our momentum is accelerating with a particularly strong fourth fiscal quarter in the making.''

The SKUs planned for release in the second half include multi-platform releases of Ford Off Road Racing, Pipe Mania, and Ultimate Board Game Collection, as well as Myst, Hello Kitty, and Jackass for the DS platforms, and Flat Out Ultimate Carnage for PSP and PC.

The company reaffirms its outlook for anticipated revenues in excess of $40 million for the full fiscal year ending June 30, 2008, with adjusted EBITDA in the range of $7 million to $10 million.

Conference Call

Silverstar management will host a conference call today at 4:30 p.m. Eastern Time. A brief presentation by management will be followed by a question and answer period. To participate in the call, dial the appropriate number 5-10 minutes prior to the start time, request the Silverstar Holdings conference call and provide the conference ID.



Domestic callers: 1-800-762-8908
International callers: 1-480-629-1990
Conference ID#: 3837994
Internet Simulcast: http://viavid.net/dce.aspx?sid=00004AC1

The call will be available for replay starting at 7:30 p.m. Eastern Time until March 12, 2008:



Toll-Free Replay number: 1-800-406-7325
International Replay number: 1-303-590-3030
Replay PIN #: 3837994

If you have any difficulty connecting with the conference call or webcast, please contact the Liolios Group at 949-574-3860.

About Silverstar Holdings

Silverstar Holdings Ltd. is an international publisher and developer of interactive entertainment software. It currently owns Empire Interactive, PLC and Strategy First, Inc. Empire Interactive (http://www.empireinteractive.com) is a leading developer and publisher of interactive entertainment software games, including Starsky & Hutch, Big Mutha Truckers, Ford Racing and FlatOut. Empire's products are delivered on both console and PC platforms. Strategy First (http://www.strategyfirst.com) is a developer and worldwide publisher of entertainment software for the PC. For more information about Silverstar Holdings visit http://www.silverstarholdings.com.

The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.

Reconciliation of Operating Income to Adjusted EBITDA

In addition to other measures, management evaluates operating results based upon an adjusted ``EBITDA,'' which is defined as operating income before depreciation and amortization, interest expense, income taxes, and stock based compensation, each of which is presented on the company's Consolidated Statements of Operations. The company's presentation of adjusted EBITDA, a non-GAAP measure, may not be comparable to similarly titled measures used by other companies. Any of these items could be significant to the company's financial results. The following table reconciles adjusted EBITDA to operating income for the periods indicated.



Three Months Ended
Dec 31
----------------------
Adjusted EBITDA Reconciliation 2Q 2008 2Q 2007
----------------------
Operating Loss $(1,344.6) $(1,385.9)
Depreciation 47.2 24.9
Amortization of Acquired Intangibles 2322.6 630.8
Amortization of Software Development Costs 958.5 0.0
Stock Based Compensation 132.8 77.6
Shares Issued for Services 24.4 58.7
----------------------
Adjusted EBITDA $ 2,140.9 $ (593.8)
Adjusted EBITDA per Share $0.11 $(0.06)
======================

Weighted Avg. # of Shares Outstanding 19,772 9,431



SILVERSTAR HOLDINGS, LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

December 31, June 30,
2007 2007
----------- --------
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
(includes restricted cash of $731,675
and $590,990) $3,239,660 $3,693,149
Cash restricted for foreign tax
estimated liability 787,009 1,064,040
Accounts receivable, net 4,554,001 6,908,846
Inventories, net 936,464 900,128
Current portion of long term notes
receivable 366,988 256,982
Prepaid expenses and other current assets 406,088 669,730
Assets available for sale -- 505,650
----------- -----------
Total current assets $10,290,210 $13,998,525
=========== ===========

Property, plant and equipment, net 437,076 488,031
Software development costs, net 6,714,238 5,183,033
Investments in non-marketable securities 1,131,066 1,143,566
Long term notes receivable 25,351 214,222
Goodwill, net 924,874 890,038
Intangible assets, net 16,672,898 20,611,189
Deferred tax asset 623,158 625,217
Deferred charges and other assets 156,960 631,843
----------- -----------
Total assets $36,975,831 $43,785,664
=========== ===========
LIABILITIES
Liabilities and stockholders' equity:
Current liabilities:
Lines of credit 2,172,176 2,875,472
Notes payable- acquisition 94,061 5,475,179
Earn out notes payable - acquisition 3,916,851 3,847,426
Accounts payable 4,177,405 6,959,835
Accrued royalty expense 2,627,035 2,937,887
Accrued expenses 2,792,851 3,355,852
Deposits on July 2007 private placement -- 630,403
Estimated liability for foreign tax 324,768 616,458
----------- -----------
Total current liabilities $16,105,147 $26,698,512
=========== ===========

Convertible secured debenture 1,347,087 4,790,779
Other long-term liabilities 419,753 412,363
----------- -----------
Total liabilities $17,871,987 $31,901,654
=========== ===========
Liabilities and stockholders' equity
Preferred stock, $0.01 par value;
5,000,000 shares authorized; no
shares issued and outstanding -- --
Common stock, Class A, $0.01 par value,
50,000,000 shares authorized; 18,990,857
(1,496,700 shares in treasury) and
9,621,891 shares issued and outstanding,
respectively 198,060 96,218
Common stock, Class B, $0.01 par value;
2,000,000 shares authorized; 0 shares and
835,260 issued and outstanding, respectively 0 8,353
Common stock, FSAH Class B $0.001 par
value; 10,000,000 shares authorized; 0 and
2,671,087 shares issued and
outstanding, respectively 0 600
Additional paid-in capital 81,015,079 67,843,919
Accumulated deficit (62,757,787) (56,796,978)
Other comprehensive income 648,492 731,898
----------- -----------
Total stockholders' equity $19,103,844 $11,884,010
----------- -----------
Total liabilities and stockholders'
equity $36,975,831 $43,785,664
=========== ===========



SILVERSTAR HOLDINGS, LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

Three Months Ended
December 31,
2007 2006
---- ----
Net revenues $10,796,896 $2,960,789
Operating expenses:
Cost of sales 4,217,780 1,252,001
Development costs and royalties 401,603 987,676
Selling, general and administrative 4,193,808 1,451,216
Amortization of software
development costs 958,526 --
Amortization of acquired intangibles 2,322,596 630,827
Depreciation 47,173 24,948
------------ -----------
12,141,486 4,346,668
Operating loss (1,344,590) (1,385,879)
Other income 100 17,468
Foreign currency (loss) gain (80,770) 357,409
Gain on sale of fixed assets 90,348 --
Amortization of convertible debt discounts
and issuance costs (123,747) (171,425)
Interest expense (133,005) (257,896)
Interest income 76,356 159,480
------------ -----------
Loss from continuing operations
before income taxes (1,515,308) (1,298,311)
Benefit (provision) for income taxes 1,006 (3,360)
------------ -----------
Net loss ($1,514,302) ($1,301,671)
============ ===========

Loss per share:
Basic and diluted ($.08) ($.14)
Weighted average common stock outstanding:
Basic and diluted 19,771,824 9,431,657
============ ===========



Contact:
Silverstar Holdings Ltd.
Clive Kabatznik, President and CEO
561-479-0040
[e-mail]

Liolios Group, Inc.
Investor Relations:
Matt Glover
Ron Both
949-574-3860
[e-mail]


--------------------------------------------------------------------------------

[Moses777]

So we think we will show a profit or not

[BreakoutÎnvestments]

Silverstar's Empire Interactive and Crave Entertainment Sign North American Distribution Agreement for 'Ford Racing Off Road'
Friday January 18, 8:30 am ET
The Exclusive Agreement Grants Crave North American Rights for PlayStation2 System and PSP System and Wii Platforms for Best Selling Franchise.


AUSTIN, Texas, Jan. 18, 2008 (PRIME NEWSWIRE) -- Empire Interactive, a wholly owned subsidiary of Silverstar Holdings (NasdaqCM:SSTR - News), and Crave Entertainment Group (CEG) have signed an agreement whereby CEG will sell and market 'Ford Racing Off Road' for the PlayStation(r)2 computer entertainment system and PSP(r) (PlayStation(r)Portable) system and Nintendo Wii(tm) platforms exclusively throughout North America.
ADVERTISEMENT


Ian Higgins, CEO of Empire Interactive, stated, ``We are delighted to be partnering up once again with Crave Entertainment. They have had tremendous success with our Ford franchise in the past and we are convinced that the strength of their retail distribution network coupled with their vast experience with licensed content will ensure that this newest Ford racing release is once again a success with the numerous fans of the franchise in North America.''

Mark Burke, Senior Vice President of Crave Entertainment, added, ``The Ford brand carries wide appeal for all types of players. With the previous success of Ford racing games, expansion into off road terrain is a great direction for the series.''

Having already sold over 2 million units worldwide, 'Ford Racing Off Road' will be the first in a new line of Ford racing games where the action will take place off road, on the undulating tough terrain the Ford and Land Rover vehicles were made for. Gone are the delicate urban streets replaced with dense forests, open desert and challenging snow covered landscapes.

Fans of the series will have a chance to preview and test their skills on ``Ford Racing Off Road'' at the following upcoming events:


* North American International Auto Show, Detroit, MI,
January 15th through 27th
* Chicago Motor Show, Chicago, IL, February 6th through 17th
* New York Auto Show, New York, NY, March 19th through 30th

The game will be featured exclusively on multiple gaming pods at the Ford Motor Company stands for the duration of three major events. Additionally, consumers will be offered a chance to pre-order the version of their choice by visiting http://www.FordRacingOffRoad.com beginning January 21th.

[BreakoutÎnvestments]

Silverstar Reports Preliminary Second Quarter Fiscal 2008 Results
Monday January 14, 8:35 am ET




Revenues Estimated $10.7 Million to $11.0 Million;

Adjusted EBITDA Estimated $1.7 Million to $2.1 Million,
or $0.09 to $0.11 Per Share

BOCA RATON, Fla., Jan. 14, 2008 (PRIME NEWSWIRE) -- Silverstar Holdings, Ltd. (NasdaqCM:SSTR - News) reported preliminary estimated results for its second fiscal quarter ended December 31, 2007. The company expects revenues for the quarter to range between $10.7 million and $11.0 million, an increase of 174% to 182% from $3.9 million in the previous quarter, and an increase of 257% to 267% from $3.0 million in the same quarter a year ago. The year ago quarter included only one month of operating results from the company's new subsidiary, Empire Interactive, due to the timing of its acquisition.

ADVERTISEMENT


Adjusted EBITDA (earnings before interest, depreciation, amortization and non-cash compensation expenses) for the second quarter is estimated to range between $1.7 million and $2.1 million, or $0.09 to $0.11 per share. This represents a substantial improvement from a negative adjusted EBITDA of $1.2 million or ($0.09) per share in the previous quarter, and a negative adjusted EBITDA of $0.6 million or ($0.07) per share in the same quarter a year ago. Per share calculations of the second fiscal quarter 2008 results are based on an estimated 20.0 million shares outstanding in the quarter.

``These preliminary results are in line with our expectations,'' said Clive Kabatznik, CEO of Silverstar Holdings. ``This quarter's strong results benefited from the release of 16 SKUs and particularly the highly successful introduction of Jackass and Animal Paradise, which together accounted for approximately 55% of the quarter's revenues. We anticipate an increase in momentum throughout the rest of the year, particularly in the fourth fiscal quarter, as our release schedule incorporates a combination of major multi-platform titles such as Ford Off Road Racing, Pipemania, and Ultimate Board Game Collection. Revenues will be also driven by high profile Nintendo DS releases, including Myst and Jackass, as well as by sales from our online, back catalog, and licensing initiatives.''

The company's management plans to hold a conference call in early February to discuss the second quarter and will announce the instructions for the call. These preliminary results are subject to a final auditor's review and filing of its quarterly report in Form 10-Q.

[BreakoutÎnvestments]

Nice article

We're up 4.12%

[research1st]

UK industry hits record £1.52B 2007
With two weeks remaining in the year, gaming industry in British Isles already outpacing previous-year sales by 25 percent.
By Tom Magrino, GameSpot
Posted Dec 20, 2007 2:47 pm PT
British news service the BBC today is reporting that the UK gaming industry brought in £1.52 billion (approximately $3 billion) for 2007, setting a new record for Her Majesty's stomping grounds. With two weeks of potential sales still outstanding, the gaming industry is up 25 percent year over year in the UK, with more than 78 million pieces of software sold to date. The BBC also reports that for last week, the gaming industry scored record revenues of £87.9 million (approximately $174 million) in games alone.

The BBC notes that more than 11 million consoles were sold during the third quarter of 2007, which is up 33 percent year over year. Further, games now account for more than 79 percent of all software sold in the nation.

In comparison, the stat-tracking NPD Group reported that the US gaming industry's November retail haul for games, hardware, and accessories reached $2.63 billion. Aside from being positively massive, the amount was significant due to the fact that November historically plays second fiddle to December as the largest month at retail for the gaming industry in the US

[BreakoutÎnvestments]

Silverstar's Empire Interactive Signs Exclusive Deal With Microsoft for Classic PC Game Titles
BOCA RATON, Fla., Dec. 13, 2007 (PRIME NEWSWIRE) -- Empire Interactive PLC, an international publisher and developer of interactive entertainment software and a wholly owned subsidiary of Silverstar Holdings (Nasdaq:SSTR), has signed an exclusive UK publishing agreement with Microsoft Corporation under Empire's value label, Xplosiv.

Building upon an established and highly successful partnership, Xplosiv will republish several Microsoft PC games, including the much sought after Zoo Tycoon Complete Collection, Combat Flight Simulator 3, and Age of Empires(r) II, all due to be on shelves before Christmas.

"These popular game licenses bring guaranteed quality and diversity to an already flourishing range of Xplosiv value titles," said James Spice, general manager of Xplosiv. "It's ideal to have these classics at a new price point in time for the holidays. They'll appeal to a wider audience and should sell consistently for years to come."

Clive Kabatznik, CEO of Silverstar Holdings, added, "This deal builds on an existing strong and highly valuable partnership with Microsoft. The addition of these exciting titles demonstrates our commitment to releasing classic brands with broad commercial appeal that will strengthen our Xplosiv value label."

Edward Ventura, senior director of franchise development at Microsoft stated, "Empire's Xplosiv label has performed exceptionally well for us, allowing us to leverage the established popularity of many classic Microsoft game titles."

Zoo Tycoon Complete Collection follows the phenomenal success of Zoo Tycoon, currently the UK's best selling value range title. The package offers a "thrilogy" of fun with the inclusion of the original Zoo Tycoon(r) and expansion packs, Marine Mania(tm) and Dinosaur Digs(tm).

Age of Empires(r) II: The Age of Kings(tm) is the second in the hugely successful Age of Empires series. Players lead one of the most powerful civilizations of all time as they build a flourishing empire. This title will complement the Age of Empires Complete collection, which is already the UK's best selling value range title.

Stunning World War II sim, Combat Flight Simulator 3, is the latest title in the successful aviation series to have garnered triumphant press reviews, and heralds the final impressive addition to Xplosiv's budget armory.

[BreakoutÎnvestments]

Another breakout today

[BreakoutÎnvestments]

SSTR exploding on the intraday chart. Up 21%+

[BreakoutÎnvestments]

Silverstar's Empire Interactive Kicks Off Holiday Season With Two Major European Releases

Animal Paradise DS Hit the Shelves on November 16, Jackass for PS2 and PSP to Arrive on November 23
Empire Interactive, a wholly owned subsidiary of Silverstar Holdings (NASDAQ: SSTR), released 'Animal Paradise DS' in the UK and Europe on November 16, which will be followed by the highly anticipated European release of 'Jackass: The Game' on PS2 and PSP on November 23.

Animal Paradise has struck a chord with the Nintendo DS audience who are craving for new 'virtual pet' sims that have become so popular. This follows the success of similar titles like Nintendogs, Pony Friends, and the Catz & Dogz series. Animal Paradise addresses the demands of this young audience and is expected to be a popular gift during the holiday season.

In the UK, the product will continue to be heavily advertised in the leading female youth press, including Mizz, Shout, Amy, and Girl Talk. Online banner campaigns are running across the popular Cartoon Network site and Jetix. These banners drive customers to a dedicated Animal Paradise website. The title will also be featured editorially, including a front cover splash in a special Christmas Nintendo supplemental Christmas gift guide that will be distributed with leading teen magazines Bliss and Mizz. These publications draw a combined circulation of around 182,000.

Jackass: The Game, which is scheduled for release on Friday, November 23, has received extensive positive coverage in the industry press. The game features the voices of the Jackass stars including Johnny, Steve O and Wee Man. It includes an editor that allows gamers to take control of the Jackass characters to "produce and upload your own episode."

"We expect Animal Paradise and Jackass to quickly rise up the charts and be big revenue generators for Silverstar," said Clive Kabatznik, the company's CEO. "We have high hopes for their success during the holiday shopping season and beyond."

For more information about Jackass and Empire's expectations please see http://www.mcvuk.com/news/28904/Top-five-prediction-for-Jackass.

A new DS version of the game has also been added to the publisher's release roster for Q1 2008. Other titles on the way include the latest iteration of the publisher's highly successful International Cricket Captain.

[BreakoutÎnvestments]

Silverstar Holdings Reports First Quarter 2008 Results

http://app.quotemedia.com/streamer/newsItem.htm?storyId=6629436&;topic=SSTR

Q1 Revenues Total $3.9 Million vs. $279,000 Year-Ago Quarter
Silverstar Holdings Ltd. (NASDAQ: SSTR), an international publisher and developer of interactive entertainment software, reported record financial results for its first quarter 2008 ended September 30, 2007.

Financial Results

First Quarter Fiscal 2008 as compared to the same period a year ago:


-- Revenues for the quarter totaled $3.9 million, a 1291% increase from
$279,000 a year ago. The increase over the year-ago quarter is primarily
due to the acquisition of Empire Interactive, which occurred in December
2006.

-- Net loss totaled $4.4 million or ($0.35) per share, compared to a loss
of $941,000 or ($0.10) per share a year ago.

-- Adjusted EBITDA (earnings before interest, taxes, depreciation,
amortization, and stock-based compensation), a non-GAAP measure, totaled a
loss of $1.2 million or ($0.09) per share, as compared to a loss of $0.5
million or ($0.05) per share a year ago. The company recorded depreciation
and amortization charges of approximately $2.7 million in the first
quarter, compared to $50,000 in the same period last year. A reconciliation
of adjusted EBITDA to operating income is included at the end of this
release.


"For a first fiscal quarter, this was a new record for revenue for our company," said Clive Kabatznik, CEO of Silverstar Holdings Ltd. "As expected and previously discussed, Q1 will by far represent the low water mark as compared to our plans and projections for the balance of the year, particularly in terms of the release of our high-profile titles. We remain on target for our 2008 revenue and earnings forecast."

Operational Highlights


-- Released six SKUs during the first quarter: Project Fashion (PC); Full
Metal Alchemist (DS); Enemy Engaged 2 (PC); GODS: Lands of Infinity (PC);
1914 Shells of Fury (PC); and Ducati World Championship (PC).

-- Empire introduced Animal Paradise, a fun and engaging virtual pet SIM
for the Nintendo DS.

-- Empire Interactive granted five-year, exclusive worldwide licensing
rights to XENDEX Holding GmbH, a global mobile entertainment company, to
develop, publish and distribute a selection of Empire's leading titles on
the mobile platform.

-- Strengthened executive management team with the addition of Lawrence
R. Litowitz as the company's new chief financial officer, Karim Farghaly as
new head of North American sales, and Vipul Patel as new head of European
sales.


Continued Kabatznik, "During the quarter, we continued to leverage our large back catalog and transition our most popular offerings to next-gen game platforms, like Xbox 360, Nintendo DS and Wii. We also executed on our forecasted annual release schedule, releasing six smaller SKUs in the first quarter, and continued to build on Empire's international presence and unique European distribution network. The release schedule for this fiscal year continues to look strong, with at least 16 SKUs planned for release in fiscal Q2 and another 26 in the pipeline for release in the second half of the fiscal year."

Based on this schedule, the company continues to anticipate revenues will exceed $40 million for the full fiscal year ending June 30, 2008, with adjusted EBITDA in the range of 17.5% to 25.0% or $7 million to $10 million. Due to a structured release schedule designed to enhance sales and profitability, the company continues to anticipate that 110% of its adjusted EBITDA will occur in the final three quarters of the fiscal year.

The 16 SKUs planned for release in the second quarter include: Jackass (PS2, PSP), Animal Paradise (DS), Speedball II: Brutal Deluxe (Xbox 360) and International Cricket Captain (PS2, PSP).

Conference Call

Silverstar will host a conference call today at 4:30 p.m. Eastern Time. A brief presentation by management will be followed by a question and answer period. To participate in the call, dial the appropriate number 5-10 minutes prior to the start time, request the Silverstar Holdings conference call and provide the conference ID.


Domestic callers: 1-888-200-2794
International callers: 1-973-935-8766
Conference ID#: 9358330
Internet Simulcast: http://viavid.net/dce.aspx?sid=000046C9


The call will be available for replay starting at 7:30 p.m. Eastern Time until December 13, 2007:


Toll-Free Replay number: 1-877-519-4471
International Replay number: 1-973-341-3080
Replay PIN #: 9358330


If you have any difficulty connecting with the conference call or webcast, please contact the Liolios Group at 949-574-3860.

About Silverstar Holdings

Silverstar Holdings Ltd. is an international publisher and developer of interactive entertainment software. It currently owns Empire Interactive, PLC and Strategy First, Inc. Empire Interactive (www.empireinteractive.com) is a leading developer and publisher of interactive entertainment software games, including Starsky & Hutch, Big Mutha Truckers, Ford Racing and FlatOut. Empire's products are delivered on both console and PC platforms. Strategy First (www.strategyfirst.com) is a developer and worldwide publisher of entertainment software for the PC. For more information about Silverstar Holdings visit http://www.silverstarholdings.com.

The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.

Reconciliation of Operating Income to Adjusted EBITDA

In addition to other measures, management evaluates operating results based upon an adjusted "EBITDA," which is defined as operating income before depreciation and amortization, interest expense, income taxes, and stock based compensation, each of which is presented on the company's Consolidated Statements of Operations. The company's presentation of adjusted EBITDA, a non-GAAP measure, may not be comparable to similarly titled measures used by other companies. Any of these items could be significant to the company's financial results. The following table reconciles adjusted EBITDA to operating income for the periods indicated.

[Zoom-Zoom-Away]

Thanx BOI, bought more DLAV instesd.

[BreakoutÎnvestments]

not sure, but it's not a good sign with earnings around the corner.

I probably wouldn't hold overnight because of it, but there's a good day trading opportunity in this volitility.

[Zoom-Zoom-Away]

Why?

[BreakoutÎnvestments]

Wow, huge dip... very huge.

[BreakoutÎnvestments]

Looking forward to it

[nlightn]

UP in PM $2.65 on 3000 volume.

earnings after-market today,...

if they show a profit (which they are not suspose to) this baby will fly to $5 easily and maybe into the $6 or $7 level.

[BreakoutÎnvestments]

Up 10%+

[BreakoutÎnvestments]

Silverstar's Empire Interactive to Release 'Sudden Strike 3: Arms for Victory' and 'Stranger' on November 30

November 13, 2007: 10:39 AM EST


Empire Interactive PLC, the international developer and publisher of interactive entertainment software and a unit of Silverstar Holdings (NASDAQ: SSTR), has teamed up with publisher Fireglow Games Publishing to distribute two widely acclaimed PC titles: 'Sudden Strike 3: Arms for Victory' and 'Stranger.' The acclaimed titles will hit stores on November 30.

Continuing in the popular vein for which the original Sudden Strike series is famous, Sudden Strike 3: Arms for Victory pushes the boundaries of the real-time strategy (RTS) genre with some notable interface innovations, huge troop numbers, and enormous map designs.

Based on battles featured in World War II, Sudden Strike 3: Arms for Victory takes place in over six campaigns, where the largest of the maps is scaled to two kilometers square and takes an experienced player up to six hours to overcome.

"We are glad to partner with Empire Interactive," said Christoph Syring, CEO of Fireglow. "They are a strong player in the UK market and the reason we provided exclusive distribution rights for Sudden Strike 3: Arms for Victory in the UK."

Rob Noble, marketing manager for Empire Interactive, said, "Empire has a long, very successful history with the Sudden Strike series in the UK and working with Fireglow. Sudden Strike was renowned for innovation in the crowded RTS category, and Fireglow have developed a new chapter in the series worthy of carrying the Sudden Strike banner."

Stranger, the second PC title to be released, is a hybrid of the popular real time strategy (RTS) and role playing games (RPG). Stranger will combine the two popular genres to bring a unique gaming experience to the gamer.

Ludmila Ludvig, managing director of Fireglow, added, "Stranger is also a strong title, which should be interesting for many demanding players. We're confident Empire is the right partner and can effectively distribute this hit title in the UK."

[BreakoutÎnvestments]

Moving this morning...

[BreakoutÎnvestments]

Might be a good time to pickup before the earnings come out on the 14th EOD

We're on chart support now and I bet we'll see some buying in anticipation of the earnings since the last report was so great

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Latest chart:

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News out

Silverstar's Empire Interactive Releasing Extra Content for Speedball II: Brutal Deluxe
Monday November 12, 8:00 am ET


BOCA RATON, FL--(MARKET WIRE)--Nov 12, 2007 -- Empire Interactive, a leading international developer and publisher of interactive entertainment software games and a unit of Silverstar Holdings (NasdaqCM:SSTR - News), announced they are releasing extra content for their Xbox LIVE® Arcade title Speedball II: Brutal Deluxe.


Over the coming weeks a steady stream of new content will be made available for download. It has already started with the release of the new "Theme Pack," containing four exclusive backdrops and a tiled Xbox blade. This week, it will be followed by the addition of four new downloadable 3D Arenas, each with three variants that gives players even more customizable options.

"Offering extra content allows users to tailor the unique Speedball experience to their own individual tastes," said Ian Higgins, CEO of Empire Interactive, "and it provides additional opportunities to increase awareness, and ultimately downloads of the full product."

Since its release on October 17, Speedball II: Brutal Deluxe has generated an extraordinary number of downloads on Xbox LIVE® Arcade, and received extensive coverage and rave reviews in the gaming press.

"One of the all-time classic retro games." -- Official Xbox 360 Magazine

"The sort of game that makes Xbox Live Arcade one of the most exciting gaming platforms around." -- Euro Gamer

Mike Montgomery, of developers Bitmap Brothers added, "The extra content dramatically enhances game play, and contributes to creating the definitive Speedball II: Brutal Deluxe package."

Widely regarded as a break-through title that took the sports genre to a new level, the Bitmap Brothers classic, Speedball, was first released for the Amiga in 1990 and quickly became a huge success. However it wasn't until the release of its sequel, Speedball II: Brutal Deluxe that the title reached new gaming heights and sold over 2 million units. It is still considered by many to be one of the best games of all time.

The Xbox LIVE Arcade version is a perfect conversion of Speedball II: Brutal Deluxe but with the addition of an all-new High Definition version, more teams and downloadable content, while still retaining all the classic elements that have made it a top favorite amongst gamers.

Xbox LIVE Arcade is the central destination for Xbox 360 gamers to download and buy smaller games on the Xbox 360 console. Xbox LIVE Arcade offers a large catalogue of fun, broad-appeal games that can be downloaded via Xbox LIVE.

[BreakoutÎnvestments]

yep, I'm surprised that we are priced about the same from the time of last run on financial results

[nlightn]

this is gonna be interesting come Nov 14,...

* Revenues for fiscal 2007 totaled a record $19.8 million, an increase of 500% from $3.3 million in fiscal 2006. The gain is primarily attributable to the contribution of seven months of increasing revenues from the company's Empire Interactive subsidiary, which generated revenues of approximately $17.2 million in fiscal 2007. During fiscal year 2006, revenues were generated solely by the operations of the company's Strategy First subsidiary.


Shares Outstanding5: 18.13M
Float: 14.68M
% Held by Insiders1: 10.89%
% Held by Institutions1: 4.20%

[duster360]

hello anyone....?

[BreakoutÎnvestments]

Up 9.41% now - Loving this stock

[BreakoutÎnvestments]

SSTR Running on news

Silverstar's Empire Interactive Sets Official Release Date for Speedball II: Brutal Deluxe On Microsoft Xbox 360
Monday October 8, 11:11 am ET
Legendary Combat Sports Game Goes Live October 17th


BOCA RATON, Fla., Oct. 8, 2007 (PRIME NEWSWIRE) -- Empire Interactive, a leading international developer and publisher of interactive entertainment software games and a unit of Silverstar Holdings (NasdaqCM:SSTR - News), announced the eagerly awaited, classic combat sports game, Speedball II: Brutal Deluxe, will be released via Xbox LIVE(r) Arcade on October 17 for the Microsoft Xbox 360(tm). The title was recently voted one of the ``most wanted' games for Xbox LIVE Arcade in the Computer and Video Games website.


Widely regarded as the break-through game that took the video sports genre to a new level, this Bitmap Brothers classic was originally released for the Amiga in 1990. The huge success of Speedball was eventually surpassed by its sequel, Speedball 2: Brutal Deluxe, which sold more than two million units and is considered by many as one of the best video games of all time. The Xbox LIVE Arcade version adds high definition capability, more team options and downloadable content, all while retaining all the same classic elements that made it a favorite among gamers.

Empire Interactive has enjoyed tremendous success with the updated releases of other arcade classics, like Double Dragon, which quickly became one of the most popular full game downloads on Xbox LIVE Arcade. The highly anticipated release of this latest legendary game will further establish Empire's position as a leading provider of casual games in the online marketplace.

``Xbox LIVE Arcade is the ideal environment for this exciting new high definition version of Speedball,' said Ian Higgins, CEO of Empire Interactive. ``With the addition of extra content packs and downloadable content, gamers can enjoy the ultimate version of this mega-hit game.'

Clive Kabatznik, CEO of Silverstar Holdings added, ``Speedball 2 will undoubtedly build upon our earlier successes on Xbox LIVE Arcade. It further demonstrates Empires extraordinary ability to cost effectively redeploy classic titles on all major formats and through a multitude of distribution channels.'

Mike Montgomery, of developers Bitmap Brothers commented, ``Our team is as passionate about Speedball today as they were back in the day. The evolution of the game to Xbox LIVE Arcade will please both hard-core fans and a new generation of gamers who have yet to experience the finest combat sports game ever made.'

Xbox LIVE Arcade is the central destination for Xbox 360 gamers to find, download, try, and buy smaller games on the Xbox 360 console. Xbox LIVE Arcade offers a large catalog of fun, widely appealing games that can be downloaded via Xbox LIVE.

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Closed at 104%

Nice day for sure

[weatherbill]

what a great daytrading stock! Love the volatility

[BreakoutÎnvestments]

Up 61%

[pompano]

Damn, I was just looking at my charts and realized I was ready to jump in, didn't know they reported after hours and were up .88 in after hours. Crap.

[pompano]

Finally jumping in here tomorrow. Looks like Silverstar is about to go Apesh**.

[BreakoutÎnvestments]

Silverstar Holdings Reports Record Fourth Quarter and Fiscal 2007 Results

http://biz.yahoo.com/pz/070927/127555.html

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FlatOut Ultimate Carnage by Empire Interactive to Ship in North America On October 2
Wednesday September 26, 7:00 am ET


BOCA RATON, Fla., Sept. 26, 2007 (PRIME NEWSWIRE) -- Empire Interactive, PLC, a leading international developer and publisher of interactive entertainment software games and a unit of Silverstar Holdings (NasdaqCM:SSTR - News), today announced the official North American ship date of October 2, 2007 for its critically acclaimed game, FlatOut Ultimate Carnage for the Xbox 360.
ADVERTISEMENT


Clive Kabatznik, CEO of Silverstar, said, ``The much anticipated North American release of our hit game, FlatOut Ultimate Carnage, has been set. Beginning in October, gamers throughout North America will be able to experience the excitement and fast-paced action of this classic head-on multiplayer racing game. This smash incarnation of the FlatOut franchise will be an exciting addition to shopping baskets through the Holiday Season and beyond.''

FlatOut Ultimate Carnage recently received an 83% rating from both ign.com and Games Master and an 80% ranking from 360gamer and XboxWorld 360.

``Ultimate Carnage has to be an essential purchase.'' - 360gamer

``As pure and genuine a thrill as you'll experience in any racer.'' - XboxWorld

``Should you think twice? Nope! A winner.'' - Games Master

``Impressive, Head-on multiplayer mode is a stroke of genius.'' - ign.com

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The run continues

[frankieboy]

only have 500 shares ,sure wish i had loaded up!

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There's that breakout we were waiting on

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Silverstar Holdings Appoints Lawrence Litowitz as New Chief Financial Officer
Tuesday September 18, 8:00 am ET


BOCA RATON, Fla., Sept. 18, 2007 (PRIME NEWSWIRE) -- Silverstar Holdings, Ltd. (NasdaqCM:SSTR - News), an international publisher and developer of interactive entertainment software, has appointed Lawrence R. Litowitz as the company's new chief financial officer. Litowitz will oversee all of the company's financial operations.

Litowitz has more than 30 years experience focusing on entrepreneurial and middle market companies in a broad range of businesses. He has substantial experience with mergers and acquisitions, corporate restructuring, capital formation, SEC reporting, and investor relations. His past positions included chief financial officer and senior vice president positions at a number of middle market companies, both public and private.

In addition to his experience in operations and finance, Litowitz spent more than 15 years in public accounting and teaching at the college level. He earned a BS in accounting from Brooklyn College and an MBA from New York University, and received his CPA from the State of New York.

Clive Kabatznik, Silverstar's CEO, commented, ``We are fortunate to have a financial executive of Larry Litowitz's caliber join our management team and take on this very important position. We are confident his experience and expertise will be instrumental in helping us build Silverstar into a greater force in the interactive entertainment software business.'

[pompano]

Yep, this should be ready to go towards the end of the month.

[BreakoutÎnvestments]

Nice consolidation pattern

[BreakoutÎnvestments]

FlatOut Ultimate Carnage Three Level Playable Demo Live On Xbox Marketplace
Monday September 10, 6:30 am ET


BOCA RATON, Fla., Sept. 10, 2007 (PRIME NEWSWIRE) -- Empire Interactive, a wholly owned subsidiary of Silverstar Holdings (NasdaqCM:SSTR - News), is delighted to announce the playable demo of FlatOut Ultimate Carnage is now live on Xbox Marketplace.
ADVERTISEMENT


Following on from the successful European launch that has seen FlatOut Ultimate Carnage become one of this year's most successful racing titles on Xbox 360, North American Xbox Live users get a chance to play three levels of the game before its much anticipated release on October 2nd. The playable demo features Deathmatch Derby, one of several Xbox 360 exclusive play modes in the full game.

``Several million gamers with access to Xbox Marketplace use the playable demos as a major determinant for their purchase choice,'' commented Ian Higgins, CEO Empire Interactive. ``The feedback so far Stateside and success of the demo in Europe give us great confidence for a repeat in North America.''

FlatOut Ultimate Carnage has set a major milestone in the UK for the franchise with a top 10 Xbox 360 chart position every week since launch. Since debuting at number 3 on launch, it has now racked up 11 weeks never outside the top 10 in the Chart-Track official entertainment software charts.

``The broadening consumer appeal of FlatOut is clearly demonstrated through these consistently high chart sales positions,'' said Rob Noble, European Marketing Manager, ``It is an excellent performance that puts FlatOut in a very strong and enviable position for future releases.''

Next month FlatOut Ultimate Carnage will launch in North America, distributed by Warner Bros. Interactive Entertainment, and in the 4th quarter FlatOut will see its global debut in the handheld market, on the PSP(r) (PlayStation(r)Portable) system through FlatOut Head On.

For further game information, materials or interviews, please contact Karim Farghaly at 512-535-5321, [e-mail], or Rob Noble at 00-44-208-343-7337, [e-mail].

[BreakoutÎnvestments]

I don't blame you after today's action, I would watch for a bounce on the 200 SMA

[pompano]

Still waiting for my entry here.