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PIHN - Acquisition $3.6 Million Profit

http://finance.yahoo.com/news/Polaris-International-prnews-1583857643.html?x=0&.v=1

LOS ANGELES, July 15 /PRNewswire-FirstCall/ -- Polaris International hereby announces that it has entered into a Letter of Intent to acquire a U.S. telecom business, subject to due diligence and funding. The closing date is expected to be late August, 2010. The targeted acquisition company, which must remain unnamed, is currently generating revenues in excess of $12,000,000 and operating with a profit margin in the 30 percent range.

Chairman Kuni Misawa commented, "We have been searching for a special acquisition that could add immediate shareholder value. The broadband communications continue to show massive growth, and this acquisition, once completed, will provide Polaris with a major presence in the United States to compliment our Japanese IT operations."