Golden Star Enterprises Ltd. Corporate Overview and Update for Investors
Golden Star Enterprises Ltd. (GSPT) reported on its strategic initiatives as a Technology Holding Company, emphasizing its transition to support tech startups. The company introduced a new management team led by President Louis Shefsky and CEO Eliav Kling. A significant milestone was the acquisition of Enigmai, a workforce management firm, which secured long-term contracts with major clients like Isracard and Clal. Enigmai also initiated a pilot project with the City of Tel-Aviv. The company aims to enhance its product offerings and expand into new markets with strategic partnerships.
- Acquisition of Enigmai enhances GSPT's portfolio in tech.
- Secured long-term contracts with major Israeli clients.
- Initiated a pilot program with the City of Tel-Aviv, indicating growth potential.
- Management team brings extensive industry experience, supporting strategic goals.
- None.
Claymont, Delaware, Sept. 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Golden Star Enterprises Ltd. (OTCPink: GSPT) updates investors with a summary of past and recent corporate activities, the current status of the Company and the plans for the near future.
Golden Star Enterprises was established in 1993. Since its inception, corporate operations have focused on various industry sectors and business plans, and the Company appreciates that we have inherited shareholders as the Company has transitioned from each operating plan to the next. At the end of fiscal 2020, Golden Star Enterprises again transitioned its focus to position itself as a Technology Holding Company that enables tech startups to grow and realize their goals.
Concurrently, GSPT introduced a new management team with skill sets complementary to the Company’s current focus: Mr. Louis Shefsky as its new president and board member and Mr. Eliav Kling as its new CEO and board member. Both Mr. Shefsky and Mr. Kling bring decades of experience in business, public markets, and specifically, the tech industry.
In November of 2020, GSPT acquired Enigmai, an Israeli tech company that specializes in the Workforce Management space, as its first operating project. Enigmai was established in 2009 and has developed a comprehensive workforce management system that enables large organizations to better manage their employees’ schedules and save money by providing a state-of-the-art management tool.
Following the acquisition of Enigmai, Golden Star Enterprises retained Ms. Eital Muskal as Vice President of Strategy and Business Development of the new subsidiary. Ms. Muskal brings years of experience as a lawyer and business development executive with a depth of experience from multiple organizations and sectors. Ms. Muskal is currently overseeing the business activities for Enigmai focused on expanding Enigmai’s footprint and visibility both in Israel and abroad.
One of the first achievements for Enigmai under the guidance of Ms. Muskal was securing new three-year contracts with two of its key clients, Isracard, the largest credit card and payment processing company in Israel, and Clal, one of Israel’s largest insurance companies. Signing those long-term contracts with our existing clients was a clear indicator of the trust our key clients have in Enigmai and its product. “We are very proud of Enigmai’s team for this critical milestone,” said Mr. Shefsky, GSPT President.
In the Spring of 2021, Enigmai was featured at Israel’s largest call center convention where Enigmai presented its product, the Enigmai Business Suite (EBS). The response was overwhelming, and the feedback was very positive. Further, from that convention, Enigmai received a dozen strong leads from potential clients interested in learning more about the solution Enigmai is offering. This interest came from companies across different verticals including companies in Telecom, Postal Services, Banks, and Municipalities.
One of the inquiries from the Spring Convention came from the City of Tel-Aviv, Israel. We are pleased to report that the City of Tel-Aviv signed a pilot agreement with Enigmai in September 2021. During the two-month pilot, users from the city of Tel-Aviv will get to experience and evaluate the system in order to confirm it fits their needs. At the end of the pilot, Enigmai expects to engage in a full implementation contract.
Resulting from other valuation convention feedback, Enigmai has recently determined to invest in upgrading its user interface (“Client”). To this end, the company engaged a local Israeli company to upgrade its existing Client to update the 10-year-old platform. This project is currently ongoing and is scheduled to be completed by the end of fiscal 2021.
As part of management’s efforts to position GSPT as a leader in its category, the company established an advisory board and added its first two advisory board members, Mr. Raz Yaron and Mr. Tim Cadeau. Mr. Cadeau has spent the last 23 years in various leadership positions with the Teamsters, Service Employees International and the National Organized Workers Union. In his various roles, he has served as the chief negotiator for 100’s of collective bargaining agreements, arbitrations, labour management meetings, mediations, and Ontario Labour Relations Board tribunals, spanning across healthcare and numerous other industry sectors. Mr. Cadeau’s experience and connections make him an excellent choice as the initial member of the Company’s Advisory Board. Mr. Raz Yaron brings over 30 years of unique experience in senior leadership and executive management positions. Raz Yaron is a dynamic leader and an expert in Software Development and Implementation, Consulting Services, Managed Services and Operations, and Financial Analysis and Optimization, bringing substantial expertise in Business Development.
As another step towards expanding Enigmai’s client base and product offering, in the summer of 2021, Enigmai signed a service agreement with AuroraView, managed by Mr. Raz Yaron, GSPT newly added advisory board member. The service agreement includes the provision of various services to Enigmai including, Implementation Services, Software Development, Business Analysis, System Architecture & Design, Database Services, Cloud Services, Quality Assurance, Automation, Project Management, Help Desk, Maintenance, among other IT consulting services. This partnership will allow Enigmai to focus on product development while AuroraView will provide the implementation and support services for the Company's growth in Israel, North America, the Middle East, and Africa (EMEA).
Mr. Louis Shefsky, GSPT President, commented, “I am pleased with Enigmai’s achievements so far this year. This year is a critical one for GSPT and Enigmai, as we transition to our new business model. I know that Enigmai appreciates the value that the management of GSPT delivers relative to its planned expansion, and I am confident that Enigmai will meet the performance targets set.”
Mr. Eliav Kling, GSPT CEO, added, “In 2021 we have focused on building the foundations of both GSPT and Enigmai. By the end of the year, Enigmai will have upgraded its product offering and will be ready to push forward with targeted marketing efforts to gain new clients. Through the strategic agreement with AuroraView, Enigmai is ready to deliver an unparalleled software and service solution not only in Israel but across North America as well. We have many exciting plans for the future including developing a mobile application that will open the door to potential clients and business verticals. One of the larger opportunities we currently see, with the guidance of our advisory board, is in hospitals. We believe that we can bring significant value and resolve some of the most pressing challenges hospitals face around employee scheduling. We will continue to update our investors on the plans and activities as they are happening.”
About Enigmai
Enigmai was founded in Israel in 2009. As an Israeli tech company, Enigmai developed a unique and advanced solution to address the challenges large contact centers face with workforce management. Our solution supports the entire workflow cycle, from managing shifts and employee breaks to forecasting every day’s HR needs. Our system offers numerous advantages like integration with other organization systems in use, real-time information update, easy access reports, and a web-based solution. Leading financial and insurance companies in Israel currently use our system, supporting the operation of hundreds of employees daily.
Email: info@enigmai.com
About Golden Star Enterprises Ltd.
Golden Star Enterprises Ltd. (GSPT) is a publicly-traded holding and acquisition company interested in taking technology start-ups and growing them to the next level. We actively search for exceptional investment opportunities in the technology vertical. We leverage management’s extensive experience in the marketplace and tech industry connections to create opportunities for companies in our portfolio.
Email: info@goldenstarenterprisesltd.com
www.goldenstarenterprisesltd.com
This press release contains forward-looking statements that reflect the Company's current beliefs, expectations or intentions regarding future events. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "will," "will be," "anticipate," "predict," “expect” "continue," "future," and similar expressions are intended to identify such forward-looking statements. The Company anticipates that subsequent events and developments may cause views and expectations to change. The Company assumes no obligation, and specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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