FREMONT, Calif., July 17, 2007 (PRIME NEWSWIRE) -- Legacy Systems Holding, Inc. (Pink Sheets:LGYH) announces that it has closed its stock exchange agreement with CST Entertainment, Inc. ("the Company"). As a result of the transaction, Legacy Systems, Inc. became a wholly-owned subsidiary of the Company. Pursuant to the transaction, the shareholders of Legacy Systems, Inc. were issued approximately fifteen million shares of the Company's common stock and they became the controlling shareholders of the Company. The Company now has approximately seventeen million five hundred thousand shares issued and outstanding, with one hundred million shares authorized.
Legacy Systems Holding, Inc. provides wafer cleaning and stripping technology to the semiconductor and related industries. Under the direction of its President and CEO, Robert Matthews, Legacy has developed and patented a new, breakthrough process that employs "Green Chemistry" to produce an environmentally safe process for photoresist stripping and cleaning of any size silicon wafer. Legacy delivers its cleaning technology through its own state of the art benches that employ the latest in robotic systems, or via specially designed modules that can be integrated into existing bench technology provided by other equipment manufacturing companies. Legacy Systems has been in operations since 1989.
Commenting on his company going public, Robert Mathews, Founder and Board Member stated, "Having established the market need for our products, we are excited about the investment opportunities we can offer our customers by being publicly-held. To date, interest in our technology has been brisk and this has occurred without any formal marketing or sales efforts. Our technology not only produces measurably better results then the traditional approaches to photoresist stripping, but it is more cost effective and does all of this using environmentally friendly processing. We look forward to bringing our knowledge and experience to a larger public market."
In connection with the transaction, the Company recently changed its name Legacy Systems Inc. to Legacy Systems Holding, Inc. and obtained a new trading symbol, "LGYH."
Forward-Looking Statements
This press release contains forward-looking statements regarding the future results and performance of Legacy Systems and Legacy Systems Holding, Inc., including statements regarding returning to growth and profitability, increasing share and improving market position. These forward-looking statements involve risks and uncertainties and actual results could differ materially from those predicted in any such forward-looking statements. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. The realization of any or all of these expectations is subject to a number of risks and uncertainties and it is possible that the assumptions made by management may not materialize. Statements in this press release may involve risks and uncertainties; actual results may differ from the forward-looking statements. Sentences or phrases that use such words as "believes," "anticipates," "plans," "may," "hopes," "can," "will," "expects," "is designed to," "with the intent," "potential" and others indicate forward-looking statements, but their absence does not mean that a statement is not forward-looking. Factors that could have a material and adverse impact on actual results are described in the Company's annual report on Form 10-K filed with the Securities and Exchange Commission under the heading "Risk Factors." The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.