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Reisman vs. Rhode Island
Most prostituted women -- so Rhode Island children -- come from brutalizing, sexually abusive homes. The “50 Professors” and the Rhode Island legislators should know that. The September Preventing Abuse Conference will educate them all on the vast problem of exploitation of women and children that grows daily in the USA. IN 1999 the US Department of Justice reported 58,200 children kidnapped by nonfamily members, and roughly 800,000 children are estimated to go missing each year........
http://www.newswithviews.com/Reisman/judith102.htm
by Judith R. Reisman
Hundred million will die -
A NEW METHODOLOGY FOR WET AFFAIRS
by J. R. Nyquist
Last week the father of KGB/FSB defector Alexander Litvinenko told reporters that his son’s death was “excruciating.” It was not a case of thallium poisoning as originally supposed. Litvinenko was poisoned with polonium-210, a rare radioactive element. “He was killed by a little tiny nuclear bomb. It was so small you could not see it,” said the elder Litvinenko. “The people who killed him make big nuclear bombs and they should not be trusted.”
Litvinenko died on Thursday. Two days earlier he thanked the hospital staff. He thanked the British public. He spoke of his love for his wife who had stood by him. “But,” he said, “I can distinctly hear the beating wings of the angel of death.” He then addressed the president of Russia, Vladimir Putin: “You may succeed in silencing me but that silence comes at a price. You have shown yourself to be as barbaric and ruthless as your most hostile critics have claimed. You have shown yourself to have no respect for life, liberty or any civilized values. You have shown yourself to be unworthy of your office, to be unworthy of the trust of civilized men and women. You may succeed in silencing one man but the howl of protest from around the world will reverberate, Mr. Putin, in your ears for the rest of your life. May God forgive you for what you have done, not only to me but to beloved Russia and its people.”
It is widely believed that the Kremlin has been assassinating its critics. Litvinenko’s death is only the most dramatic and publicized instance. Discussing the recent murder of Russian journalist Anna Politkovskaya, the Romanian intelligence defector Ion Pacepa told Frontpagemag’s Jamie Glazov: “assassinating political opponents has been a trademark of Russia’s leaders.” He then mentioned Nikita Khrushchev’s “new methodology for wet affairs” in which “any evidence pointing to the KGB should be dismissed out of hand as ridiculous.” Khruchchev also directed the KGB to plant “evidence” that the CIA or other enemies were responsible for KGB killings. As fate would have it, a Moscow newspaper (Moskovsky Komsomolets) has already suggested the CIA poisoned Litvinenko; and on Nov. 15, in step with Khrushchev’s directive, the FSB (KGB) issued a report stating that Litvinenko was poisoned by “CIA agent Mario Scaramella.” Furthermore, the Kremlin’s official spokesman has argued that any suggestion of KGB/FSB involvement in Litvinenko’s murder is ridiculous and unworthy of comment.
Those who are wise, who understand Russia’s political system, know what has happened. In a Nov. 25 column for The New Statesman, Russian music critic Artemy Troitsky explained that the assassinations in Russia had effectively negated freedom of the press. In fact, he admitted, “I stopped posting difficult items on my website.” Wondering if feared for his own life, Troitsky wrote, “I am not sure. What I do know is this: it is demoralizing to write the same things over and again, to no effect. It is demoralizing to realize that among Russia’s silent majority Putin is genuinely popular and there seems no way of waking these people up. Most depressing, however, is that the so-called democracies of the west are turning a blind eye. One day, messrs Blair and Bush, the Germans and Italians, will regret that.”
It is demoralizing, indeed, to “write the same things over and again, to no effect.” Litvinenko himself made something of a joke when referring to his own death. “This is what it takes to prove one has been telling the truth,” he quipped. I am sad to say, however, that the death of Alexander Litvinenko demonstrates, from first to last, that the KGB has already defeated the West through psychological warfare. The West is helpless, and Western pundits will feel this helplessness as they begin to open their eyes.
But is such an opening even possible?
The American left will never open its eyes with regard to Russia. As for the so-called neo-conservatives and traditional conservatives (plus the attending libertarians), to the extent that it's worth noting at all, neither side knows its country's real enemy. All are addicted to their respective "conservative" ideologies, considering only those facts that support their own preconceptions. What follows is a conscious decision to put any facts about Russia aside. For the neo-cons it's simply too much to realize that we are at war with a combination of countries that can turn America into a heap of rubble overnight. The only reason the neo-cons propose such bold projects in Iraq and now Iran has to do with their belief that America is the unchallengeable superpower, that Russia is no longer a factor, that American military superiority is axiomatic. If they recognized the actual situation, given Russia and China's actual military buildup, they would be screaming for 30 Army divisions and a draft. But the neo-cons live in a sheltered reality, worried about the advance of al Qaeda when a larger enemy is at work. The adventure in Iraq shows that they do not know how to make basic measurements. Their fantasies dovetail with their ambitions, simultaneously blotting out any realistic analysis of the actual situation.
On their side of the Republican split, the traditional conservatives who mock the democratizing sentiments of the neo-cons, and who correctly see that the neo-cons are rootless utopians, are also utopian in their wish to return to more innocent times. For Patrick Buchanan and his anti-war associates the Israelis are the problem in the Middle East and not the Arabs, and American support for Israel is the reason for 9/11. "The nation of Israel is a 'thunderously failed reality' that 'rests on a scaffolding of corruption, and on foundations of oppression and injustice,'" wrote Patrick Buchanan in Where the Right Went Wrong. He was quoting Avraham Burg, a disgruntled Israeli politician. His purpose in so quoting was to impress his readers with the wickedness of the Israeli cause (i.e., survival) and the propriety of hastily giving in to demands for a Palestinian state. That such a state would be a terrorist enclave for further attacks on Israel is not even debatable. That such a creation would be an act of appeasement toward an Arab world that seeks Israel's extermination is also true. The traditional conservatives do not recognize the problem of Islamic enmity because they do not see a fundamental conflict of civilizations taking place in an age of mass destruction weapons. The admission is simply too damaging to their utopian project for a return to the 19th century. They imagine that the United States can survive by abandoning its international position, by withdrawing from its military and economic commitments. This is tempting to be sure, and a withdrawal would bring many near-term benefits to the United States, but in the long run the Russians and Chinese (together with their Muslim allies) would develop satellites and satrapies on four continents, and the United States would find itself isolated, infiltrated, and under attack without recourse to advanced bases, strategic depth or collective security agreements. The enemy would dominate Latin America, Africa, Asia and Europe. Many American allies would be cut off and forced to join the Russians and Chinese or remain neutral.
It seems that the problem of our politics amounts to a problem with our ideological settings, and a basic incompatibility between those settings and strategic reality. America lacks serious strategists who are prepared to see things as they are, instead of insisting that every fact fit their preconceived notions. That which is most basic, most essential in the Great Game are the facts relating to the heavily armed countries (those countries that would, in the absence of the United States, dominate or invade their weaker neighbors and move from there to further conquests). In our time, the main nuclear powers and superstates like Russia and China are primary. They are the players that matter. Do not take your eyes off these players, and do not deceive yourself about their nature. In relation to these countries we cannot afford to make fundamental errors of judgment. But this is what we have done. We have ignored the facts and refused to see where the facts lead. And the facts are these: (1) the changes that took place in the Soviet Bloc between 1989 and 1991 were prepared in advance and carried out by the Communist Party and the secret police; (2) The changes were initiated for strategic and economic reasons, not because of a genuine turn toward liberal democratic values; (3) The changes were therefore deceptive, seeking to disarm the United States and weaken the U.S. alliance system by opening NATO to KGB-dominated East European states, by raising the possibility of disputes between Western powers, and by encouraging the West to live for the pleasure of today without regard to long-term security (i.e., the "peace dividend"); (4) Russia is the motherland of terrorism and defector testimony definitely hints at some kind of plan involving false flag terrorist operations against the U.S. and Europe; (5) According to defector information, Russia long ago planned to unite with China during the "Final Phase" of its long range strategy, isolating the United States from its allies and delivering a devastating economic blow to the American economy.
What we see today is the result of strategic blindness, an unwillingness to admit problems within the liberal security system due, in part, to the primacy of economics in U.S. political thinking. "It's the economy, stupid" has a certain ring to it, but the reality of the situation better fits another saying, "It's global war, stupid." Only today's enemies of the West, understanding their economic and technological inferiority aren't like the blundering Nazis whose open blitzkrieg brought the world down upon their heads. Today's totalitarian power advances by stealth, using organized crime, terrorism and diplomacy. Today's totalitarian bloc favors low intensity warfare to open blitzkrieg. It favors false flag terrorist operations against the American heartland. Holding his cards close, the totalitarian ruler hides his enmity behind fang-baring states like North Korea and Iran, taking the small risk of killing individual obstacles like inconvenient journalists and talkative defectors. The new totalitarian builds up Iran's nuclear power and protects North Korea from a preemptive strike. The writing is on the wall, and the cult of appeasement is on the throne. Today one man dies of radiation poisoning.
Tomorrow, a hundred million will die of it? -
Bolshevikz KGB 666 chef Putin -
http://tinyurl.com/3c5gn
Litvinenko statement
Russian ex-spy Alexander Litvinenko has accused Russian President
Vladimir Putin of involvement in his death, in a statement
dictated before he died.
Mr Litvinenko, 43, who died in a London hospital on Thursday
evening and is thought to have been poisoned, said his killer
was "barbaric and ruthless".
Protest from around the world "will reverberate, Mr Putin,
in your ears for the rest of your life," he said.
Radiation found after spy's death
'No radiation risk' public told
Putin: Spy's death 'provocation'
Spy's death-bed Putin accusation
Father's tribute to poisoned spy
Service denies ex-spy poisoning
Spy death dominates EU summit
http://news.bbc.co.uk/2/hi/health/6181688.stm
http://news.bbc.co.uk/2/hi/uk_news/6180068.stm
Over and done, I respect Japans highly, and Koreans to even though I lost an uncle in the first calvary division there, I still speak with Koreans, we had Rock troops in nam, they just have a nut for a leader in the north, I bet he don't represent 2 % of the populations real wishes how to deal with it, whos trying J W Bush and here half americans are bla bla bla, who's right, our soldiers are right their there, here and there, God willing this mess will have a good ending , no one has wanted to go to the middle east, america did, lets not give up so easily, I believe the world depends on us, mother hen
Akira Makino, 84, told Kyodo news agency he -
performed surgery and amputations on condemned -
prisoners, including women and children -
that's only - 666 - makings -
God Bless -
http://www.888c.com/
http://www.investorshub.com/boards/read_msg.asp?message_id=15076743
That's stuff happens in war, don't worry my uncle tony's buddies took the heads off a few, that's War, the american and Japanese Marines both did what they had to do to win, orders, other things happened.
Time for Jaime to make some heads swing and get this thing rolling if he wants the real money instead of the peanuts.
Filipino's have boots on the ground in Irac to right now, contracted speacial forces, if you ever run into a filipino thank on that knows a vet that fought for american besides the Philippines, there there fo us in irac and of course the money and citizen, no I don't care for a doctor dismebering, its not there ethic
Japanese doctor admits POW abuse -
Veterans of Japan's imperial navy at a remembrance
ceremony in Tokyo -
Few veterans of Japan's imperial forces have spoken
of atrocities -
A former doctor in Japan's World War II navy says -
he was ordered to perform medical experiments on -
Filipino prisoners before they were executed -
Akira Makino, 84, told Kyodo news agency he -
performed surgery and amputations on condemned -
prisoners, including women and children -
Japan's imperial forces are believed to have carried -
out medical experiments on prisoners -
captured in China -
Few Japanese veterans have spoken of atrocities -
committed during the war -
The BBC's Chris Hogg says most want to put the past -
behind them and they have had little encouragement from -
the authorities to offer an account of what happened -
Mr Makino's testimony is believed to be the first account -
from a Japanese veteran of the war in south-east Asia -
describing medical experiments on prisoners -
Revulsion
Mr Makino was stationed on the island of Mindanao -
in the Philippines during World War II -
He told the Kyodo news agency he had operated on some -
30 prisoners between December 1944 and February 1945 -
The operations - which included amputations -
and abdominal surgery - were regarded as part -
of his medical training, he said -
"I would have been killed if I had disobeyed the order,"
Mr Makino said. "That was the case in those days."
He also said he was disgusted by orders to practise surgery
on two Filipino men, rendered unconscious after being
captured on suspicion of being US spies.
"I thought, 'What a horrible thing I'm doing to innocent
people even though I'm ordered to do it'," he said.
Biological warfare
Mr Makino said he was still haunted by the memories of his
work in the Philippines.
"We should not repeat such miseries again," he said.
"I want to tell the truth about the war, even if
it is to only one person or two."
A Japanese army unit specialising in biological warfare
is believed to have carried out medical tests on prisoners
during the wartime occupation of north-eastern China.
At least 3,000 prisoners are believed to have died
at the hands of the unit.
Japan has acknowledged the unit's existence but has not
charged anyone in connection with allegations of atrocities.
http://news.bbc.co.uk/2/hi/americas/6185442.stm
the 666 evils should stay inthe fire -
God Bless -
http://www.888c.com/
Cavico Corp Provides Forward Guidance to Investment Community, With Revenues for FY2006 to Exceed $80 Million and $130 Million Projected for FY2007
LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- 08/02/2006 -- Cavico Corporation (PINKSHEETS: CVCP), a company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads, mines and urban buildings throughout Vietnam and the Pacific Rim, today released guidance for its 2006 and 2007 revenue forecasts. Revenues for fiscal year 2006 should be approximately $80 million, with guidance for 2007 projected at $130 million. All numbers are US dollar figures.
The company has recently announced several large contracts, including: Nam Chien Hydropower ($24 million); Ban Ve Tunnel ($20 million); Serepok 3 Hydropower (VINAVICO $54 million) and the Dong Nai 4 Hydropower ($26 million). Cavico continues to pursue infrastructure projects throughout Vietnam and is also building new relationships throughout the region.
"The strength of the Vietnamese economy, coupled with support from the US surrounding Vietnam's inclusion in the WTO are two long-term positives for Cavico," stated Timothy Pham, Executive Vice President and Assistant Secretary for Cavico Corp. "We continue to move forward with our existing projects, which are underway, while seeking out additional opportunities for growth internationally."
For more information about Cavico, please refer to the company's website at: http://www.cavicocorp.com.
(OTC Bulletin Board: CZFS) First Citizens Reports Second Quarter Earnings
MANSFIELD, Pa., July 27 /PRNewswire/ -- Citizens Financial Services, Incorporated President Richard E. Wilber has released its financial performance through June 30, 2001. Earnings for quarter ending June 30, 2001, were $1,037,000 as compared to $897,000 for the same quarter one year ago, representing a 15.6% increase.
Total assets for First Citizens surpassed $424.1 million on June 30, 2001. This figure increased 23.8% over the $342.5 million at June 30, 2000. Deposits grew 30.5% to a record $377.3 million while total loans increased 12.1% to $264.4 million (net of the reserve for loan losses).
Total stockholders' equity has grown 4.3% since year-end 2000 and by $4.4 million over the past year -- nearly $2.9 million of the $4.4 million growth was due to the after-tax increase in market value of the investment portfolio, a result of the dramatic decline in national interest rates.
A cash dividend of $0.16 per share along with a 1% stock dividend will be paid on July 27, 2001 to shareholders of record on July 13, 2000. This quarterly cash dividend is an increase of 6.7% over the dividend declared a year ago.
President Richard E. Wilber stated, "The new Banking Services Center and Corporate Headquarters facility is finally complete; with the completion of this facility and recent expansion of the Operations Center, we are now well prepared to support the growth we foresee in this decade. Our non-deposit services are now being offered and afford an opportunity to meet the full financial needs of our customers. We are very excited, also, with the introduction of employee benefit services under the very capable leadership of Nicholas Helf, Jr. Needless to say, in our opinion, this corporation is progressing very well in a highly competitive market and we continue to be optimistic about our future!"
Citizens Financial Services, Inc., has nearly 1,400 shareholders, the majority of whom reside in Potter, Tioga, and Bradford Counties where their 15 offices are located.
Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks; changing economic and competitive conditions and other risks and uncertainties.
(Dollars in thousands, except per share amounts)
2001
2000
Six Months Ended June 30
Net
income
$1,828
$1,835
Comprehensive
income
2,215
1,747
Per common share data:
Earnings per
share
0.66
0.66
Cash dividends
declared
0.31-1/2 0.29-1/2
Performance ratios:
Return on average
assets
0.89%
1.07%
Return on average
equity
11.97%
12.57%
Three Months Ended June 30
Net
income
$1,037
$897
Per common share data:
Earnings per
share
0.37
0.32
Cash dividends
declared
0.16
0.15
Performance ratios:
Return on average
assets
0.99%
1.04%
Return on average
equity
13.47%
12.22%
At June 30
Assets
$424,163 $342,507
Investment securities:
Available-for-sale
106,447
88,443
Loans (net of unearned
income)
267,490 238,260
Allowance for loan
losses
3,050
2,391
Deposits
377,298 289,119
Stockholders'
Equity
31,891
27,529
Non-performing
assets
2,647
1,554
Average Leverage
Ratio
5.34%
8.32%
Per common share data:
Book
value
$11.50
$10.01
Market value (average of bid/ask
price)
13.80
12.00
Market price to book value
ratio
120.00% 119.88%
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X41164111
SOURCE Citizens Financial Services, Inc.
/CONTACT: Kathleen M. Campbell of Citizens Financial Services,
+1-570-662-0422/
/Web site: http://www.firstcitizensbank.com /
(CZFS)
CITIZENS FINL SVCS INC - CZFS
Price 13.30
Net Change 0
Volume (000) 0
Day High N/A
Day Low N/A
:=) Gary Swancey
(OTC:CYBG) CyberGuard Kicks Off National Sales Training Activities As Channel Development Program With Marketlink Gets Underway
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 27, 2001--CyberGuard Corporation, the technology leader in network security, today announced that it has launched an intense national training program to educate the Marketlink Technologies sales force about CyberGuard products and services. Over the next two weeks, training will take place in several of Marketlink's regional training centers throughout the United States. When the training is complete, Marketlink technical sales professionals will begin working with U.S. resellers and VARs to increase CyberGuard's channel distribution.
Patrick J. Clawson, president of CyberGuard Corporation, stated, "This is a major initiative for our company in the U.S. As we complete the training, we expect to be able to shift from an emphasis on direct sales in the U.S. to channels. That strategy has been the key to our success in Europe and Asia. By partnering with Marketlink, we expect to be able to identify, sign and drive sales through U.S. resellers at an accelerated pace."
Earlier this month CyberGuard signed an agreement with Marketlink Technologies, a national channel development firm, authorizing them to be the exclusive representative of CyberGuard firewall and VPN technology in the U.S. The agreement was recently modified to set aside three out of thirteen regions in the United States which CyberGuard regional sales managers will administer.
About CyberGuard Corporation
CyberGuard Corporation, the technology leader in network security, provides enterprise and electronic commerce security solutions to Fortune 1000 companies and governments worldwide. CyberGuard's award winning, industrial-strength firewall products and services protect the integrity of data and applications from unauthorized access. CyberGuard's appliances are the world's first to receive Common Criteria EAL4 certification, the most prestigious and rigorous IT security evaluation available. The company has world headquarters in Ft. Lauderdale, Florida, and branch offices worldwide. More information on CyberGuard Corporation can be found at http://www.cyberguard.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve certain risks, uncertainties and factors, including without limitation, those described in the Company's filings with the Securities and Exchange Commission, that may cause the Company's future actual results to materially differ from the Company's current expectations. The Company assumes no obligation to update any forward-looking statements.
CONTACT: CyberGuard Corporation,
Fort Lauderdale
Cynthia Sucher, 954/958-3886
csucher@cyberguard.com
CYBERGUARD CORP - CYBG
Price 2.30
Net Change 0.00
Volume (000) 3
Day High 2.35
Day Low 2.30
:=) Gary Swancey
(OTCBB:CMEE), C-Me Chairman and CEO Interviewed by Web-Based News Networks
PASADENA, Calif.--(BUSINESS WIRE)--July 27, 2001--Cyber Merchants Exchange (C-Me) an international B2B electronic trading company, today announced that the chairman, CEO and founder of the company, Frank Yuan, was interviewed by two Web-based news networks, MacReport.net and WallStreetReporter.com.
Yuan discussed that C-Me has developed as the premier electronic trading company.
"C-Me is the only fully integrated trading company to successfully transact international business on the Internet," said Yuan. "C-Me spent the last four years establishing Internet trading technologies and methodologies, creating a global presence, and inventing a Global Financial Platform (patent pending) that leverages CIT Commercial Services' credit guarantee and Bank SinoPac for their advance funds to the overseas sellers."
This transaction model successfully eliminates the need to issue a letter of credit.
Yuan said: "This is the year the company started transacting sales. Our retail partners, and buyers such as Factory 2-U Stores, Burlington Coat Factory, Value City Department Stores, Ames Department Stores, Ross Stores and others, are pleased to purchase overseas goods through our platform without issuing a letter of credit. Vendors who sold goods through C-Me use the seamless platform to increase cash flow and business.
"In today's bad investment environment," Yuan stated, "investors lose their patience, they look for a company's fundamentals: P/E ratio, positive cash flow and profits before they will invest."
Yuan emphasized that C-Me will reach bottom-line profitability by the end of this year.
Listen to the interviews at www.macreport.net and www.wallstreetreporter.com.
About WallStreetReporter.com
"WallStreet Reporter is an authentic resource for potential investors seeking investment opportunities," according to Tan Khandaker, a senior analyst for the WallStreet Reporter. "We cover business like no one else, because we provide unprecedented access to the Who's Who of industry -- the CEOs of key public and private companies."
Each day, WallStreet Reporter's Web site brings unbiased, in-depth interviews from CEOs whose companies are in the news -- or soon will be. The site gives an inside perspective on these companies, so one can make more informed investment decisions. One can learn what really makes these companies tick, what top management is like, and where the companies are going next.
About MacReport.net
MacReport.net is an Internet information and media company designed to allow public companies the ability to communicate relevant corporate information directly with the investing community. The Web site is designed to provide the reader with audio/video interviews with key management, updated financial information, press releases, video conferencing and other information including sales literature and company updates. The information provided will be in accordance with the recently enacted Full Disclosure (regulation FD) rules.
About Cyber Merchants Exchange Inc. (C-Me)
C-Me (http://www.C-Me.com) is an international B2B electronic trading company that creates efficiencies for retailers to source and finance international purchases. C-Me builds private extranets, Internet Sourcing Networks ("ISNs") for its retail partners. A profile for each retail buyer is established, and then the ISN matches and pushes merchandise to their desktops.
C-Me's Global Financial Platform (patent pending) will allow U.S. retailers to purchase overseas merchandise without the need of issuing a Letter of Credit. The company also provides vendors with a Virtual Trade Show ("VTS"), a vertical marketplace for vendors to display their product in an open environment accessible to any buyer around the world. The company presently has offices located all over Asia and Turkey.
C-Me has strong strategic partnerships with CIT Commercial Services (NYSE:CIT) and Bank SinoPac. The company's current retail partners are: Factory 2-U Stores Inc. (Nasdaq:FTUS), Burlington Coat Factory (NYSE:BCF), Bermo Enterprises, Sacks SFO, Susie's Deals and L&L Wings.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors, including the risks associated with the effect of changing economic conditions at home and abroad, variations in cash flow, reliance on collaborative retail customers, reliance on intellectual property legislation, use of proprietary un-patented technology, dependence on the Internet and on new product development, variations in new product and service development, risks associated with rapid technological change, and potential of introduced or undetected flaws and defects in products and services and other risk factors detailed in forms filed with the Securities and Exchange Commission from time to time.
CONTACT: Cyber Merchants Exchange Inc., Pasadena
Cynthia Zamarripa, 626/793-5000, ext. 106
ir@c-me.com
or
WallStreet Reporter Inc., New York
Tan Khandaker, 212/363-2600, ext. 222
tan@wallstreetreporter.com
or
MacReport.net
Adam J. Reznikoff, 631/383-5075
rez@macreport.net
CYBER MERCHANTS EXCHANGE INC - CMEE
Price 0.35
Net Change 0
Volume (000) 0
Day High N/A
Day Low N/A
:=) Gary Swancey
(OTC:CISI) CIS.com to Change Company Name
MIAMI--(BUSINESS WIRE)--July 27, 2001--CIS.com Inc. is pleased to announce that it has filed the necessary documents to change the company's name to "Resource America, Inc." and will file for a new trading symbol.
The name change reflects the Company's previously announced decision to exit the e-commerce business. Resource America's core business will be the acquisition, exploration and development of world-class mineral deposits.
Further News on Corporate Management Changes
As announced last week, the Board of Directors has appointed Allan Smith of Toronto, Ontario (Canada) as the Company's new President.
Smith has a strong record of building profitable companies and managing rapid growth. He currently serves as Vice President-Sales for a privately held Canadian company that provides wire & cable products and services to industrial (principally mining), OEM and residential markets. Over the past five years, Allan Smith has grown this $120 million business at a 22% rate. Smith holds a Bachelor of Commerce degree in Accounting & Marketing from McGill University.
CIS.com also wishes to report that effective July 17, 2001, Harold Stock tendered his resignation as President of the company. Additionally, CIS.com would like to remind investors that Daisy Campos resigned her position as Corporate Secretary and Director approximately a year ago, and that she no longer serves as an Officer or Director of the Company.
The company is in the process of forming a Technical Advisory Board of experienced and well-respected mining industry executives to advise the Company's Board of Directors. Further news will be released shortly.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the proceeding discussion, the words "plan", "confident that", "believe", "expect", or "intend to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components for, and delays in the start of production, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financing and other risks described in the company's SEC reports and filings.
CONTACT: CIS.com Inc., Miami
Allan Smith, 305/438-0020
email: cisi_info@yahoo.com
CIS.COM INC - CISI
Price 0.02
Net Change 0.00
Volume (000) 147
Day High 0.02
Day Low 0.01
:=) Gary Swancey
CAIS Internet Becomes Ardent Communications; Company Receives Shareholders Approval to Change Corporate Name to Reflect New Business Direction and Brand Value
WASHINGTON--(BUSINESS WIRE)--July 27, 2001--CAIS Internet, Inc. (OTCBB:CAIS), a provider of broadband access and bundled data services to businesses, hotels and public spaces nationwide, today announced that it has received shareholder approval at its annual meeting to formally change its corporate name and brand to Ardent Communications, Inc.(SM)
The Company has launched a new Web site, www.ardentcomm.com, and a new general phone number, 800-270-0000. The Company has also applied for a new stock symbol, to be announced upon approval.
"Changing the Company name to Ardent Communications reflects the successful redirection of our primary model to that of a tier-one, full service ISP providing bundled data services to businesses nationwide," said Michael Lee, President and CEO of Ardent Communications. "While the name, CAIS Internet, has a strong heritage, its brand equity has always been in the hospitality business, an area which is no longer our primary focus. As evidenced in our recent announcements, the Company has effectively transitioned to being a provider of bundled business communications services to businesses nationwide and changing our corporate name to reflect this new brand was a natural move for the Company."
"As a name, Ardent Communications reflects all that this Company is: commitment, enthusiasm, dedication and loyalty," Lee continued. "These are all characteristics of the word "ardent" and we believe it is a brand that truly reflects the Company's passion and dedication in providing consumers with the best data communications experience available on the market today."
----------------------------------------------------------------------
For more information on Ardent Communications, please visit www.ardentcomm.com or call 800-270-0000.
Ardent Communications, Inc. (OTCBB: CAIS) is a nationwide supplier of broadband Internet access solutions and provides price competitive high speed Internet services to businesses in 29 Points of Presence (serving 38 metro areas) across the nation utilizing a tier-one, nationwide Internet network and several proprietary technologies. The Company offers always-on, broadband Internet access to its customers through its digital subscriber line (DSL) service, and through T-1, DS-3 and other bandwidth connections in major metropolitan areas throughout the U.S. Additionally, the Company provides bundled data services including Web hosting, colocation services and other value added managed data services. Finally, the Company also provides service to certain hotel properties utilizing installed high speed Internet service and business centers. The Company uses its unmanned business centers and Internet kiosks to deliver broadband Internet access and content to hotels and public venues, such as airports, retail centers, and cruise ships.
Ardent Communications, Inc. is headquartered in Arlington, VA. and operates a coast-to-coast OC-12 clear-channel network, and peers with public and private partners, and at national exchange points.
This release contains statements relating to Ardent's future expectations and business strategies or other "forward-looking" information. Those statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated by the statements. Important factors that may cause actual results to differ from projections include, among others: changes in business and market conditions; changes in the Internet services industry and the general economy; our limited operating history; our ability to manage rapid growth; our ability to enter into joint ventures and other strategic relationships with companies on terms acceptable to us; access to additional capital; and the impact of computer and related problems that may arise from our operations.
CONTACT: CAIS Internet
Peter Benedict, 703/247-6328
p.benedict@cais.com
CAIS INTERNET INC - CAIS
Price 0.31
Net Change -0.04
Volume (000) 13
Day High 0.40
Day Low 0.31
:=) Gary Swancey
(OTC Bulletin Board: BDVM) Broadview Media, Inc. Announces 4th Quarter and Year End Results; Broadview Media Completes a Year of Transition
MINNEAPOLIS, July 27 /PRNewswire/ --
Broadview Media, Inc. announced its 4th quarter and year-end results. "This has been a challenging year of transition for the Company in which we sustained more than $500,000 in non-recurring charges. But we are excited about the growth plans for the future," commented Ken Ritterspach, President and COO. "Creative Services has grown by more than 20% at a time when ad agencies are laying off people. Our television shows are doing very well. And the new Interactive Services group in Chicago gives us a whole new revenue source."
Broadview Media, Inc. reported sales of $2,104,770 and net loss of ($250,707) or ($0.18) per share (basic and dilutive), for the fourth quarter ended March 31, 2001. This compares with sales of $2,432,639 and net income of $79,050, or $.06 per share (basic and dilutive), for the quarter ended March 31, 2000.
Year to date for the twelve months ended March 31, 2001, the Company reports sales of $8,096,078 and a net loss of ($534,425) or ($0.39) per share (basic and dilutive), compared to sales of $9,941,987 and net income of $441,505, or $0.33 (basic), $0.31 (dilutive) in the previous year. Year to date gross profit decreased to $1,885,657 from $2,600,985 in the previous year and operating income decreased to ($18,607) from $909,919.
Broadview Media, Inc. is a full service media company specializing in content development and management, creative services for marketing and advertising, full service production management and Internet broadcasting solutions. To compliment these services the company owns and operates full service radio and television production facilities in Chicago and Minneapolis. The Company is publicly traded on the OTC Bulletin Board. The Company's trading symbol is BDVM.
Visit us at:
http://www.broadviewmedia.com or http://www.fearlessflying.com
Three Months Ended Twelve Months Ended
March 31 March 31
2001 2000 2001 2000
Net Sales $2,104,770 $2,432,639 $8,096,078 $9,941,987
Cost of products
and services sold $1,478,715 $1,511,616 $6,210,421 $7,341,002
Gross Profit $626,055 $921,023 $1,885,657 $2,600,985
Selling, general
and administrative $760,060 $827,833 $1,904,264 $1,691,066
Operating Income
(loss) ($134,005) $93,190 ($18,607) $909,919
Other income
(expense), net ($119,450) ($8,306) ($513,692) ($458,830)
Income (Loss)
Before Income
Taxes ($ 253,455) $84,884 ($532,299) $451,089
Income tax benefit
(expense) $2,748 ($5,834) ($2,126) ($9,584)
Net Income (Loss) ($250,707) $79,050 ($534,425) $441,505
BASIC INCOME (LOSS)
PER SHARE ($0.18) $ 0.06 ($0.39) $ 0.33
BASIC WEIGHTED
AVERAGE NUMBER
OF COMMON SHARES
OUTSTANDING 1,360,820 1,356,560 1,360,820 1,356,560
DILUTIVE INCOME
(LOSS) PER SHARE ($ 0.18) $0.06 ($0.39) $0.31
DILUTIVE WEIGHTED
AVERAGE NUMBER OF
COMMON SHARES
OUTSTANDING 1,360,820 1,407,614 1,360,820 1,407,614
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X52953198
SOURCE Broadview Media, Inc.
/CONTACT: Ken Ritterspach, President of Broadview Media, Inc.,
+1-952-835-4455, kenr@broadviewmedia.com /
/Web site: http://www.fearlessflying.com /
/Web site: http://www.broadviewmedia.com /
(BDVM)
BROADVIEW MEDIA INC - BDVM
Price 1.01
Net Change 0
Volume (000) 0
Day High N/A
Day Low N/A
:=) Gary Swancey
(NASDAQ: ALHY; BSE:ALH, ALHW; OTCBB:ALHYW)Alpha Hospitality Announces Court Upholds Contact Previously Opposed by Park Place
NEW YORK--(BUSINESS WIRE)--July 27, 2001--Alpha Hospitality Corp. the "Company") announced today that the United States District Court of the Southern District of New York, White Plains, reversed its prior decision of May 14, 2001 in pending litigation against Park Place Entertainment Corporation (NYSE: PPE) by Catskill Development LLC and its affiliates, including a subsidiary of Alpha Hospitality Corp. (NASDAQ:ALHY). Plaintiffs include the landowner, the developer and the manager of a proposed $505 million St. Regis Mohawk Monticello Raceway Casino Project adjoining the Monticello Raceway in Monticello, New York. The $6.3 billion action was initiated last November against PPE and alleges tortious interference and conspiracy to restrain the development of the project.
PPE is accused in the complaint of having unlawfully induced the Tribe to terminate certain agreements and its relationships with the plaintiffs only one week after the United States Secretary of the Interior approved the acquisition of a 29-acre parcel of land adjoining the Monticello Raceway by the United States Government in trust on behalf of the Tribe for a tribal gaming enterprise to be operated under the Indian Gaming Regulatory Act of 1988.
An Alpha spokesman stated that the federal court's decision validates the Land Purchase Agreement under which the Tribe was contractually obligated to use its reasonable best efforts in good faith to seek all approvals required from the United States Department of the Interior, Bureau of Indian Affairs, and the National Indian Gaming Commission for land acquisition and development, management and other agreements relating to the project. The Court reversed its earlier ruling and concluded that Land Purchase Agreement constituted a legally enforceable contact. It is expected that the trial will commence in 2002.
As they aggressively prosecute their federal court claims against PPE, Plaintiffs intend to continue to negotiate with other federally recognized tribes to develop a Native American Casino at the Monticello Raceway.
To the extent the content of this press release includes forward-looking statements, they involve risks and uncertainties that are described from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made.
CONTACT: Alpha Hospitality Corp.
Thomas W. Aro, 212/750-3500
ALPHA HOSPITALITY - ALHY
Price 9.50
Net Change +1.49
Volume (000) 5
Day High 9.88
Day Low 8.37
:=) Gary Swancey
(OTC Bulletin Board: CMEC - news; CCI) CCI Hires Executive Director for WaveScreens and Selects Branding Agency For The WaveScreens RollOut
SALT LAKE CITY, July 27 /PRNewswire/ -- Commercial
Concepts, Inc. is
pleased to announce that W. Scott Marshall has been hired to
oversee the national roll out of WaveScreens. As the Executive
Director of WaveScreens, Mr. Marshall will be responsible for
developing key support systems for the full scale roll out, product
development, and positioning of the product.
Mr. Marshall comes to CCI from Ingenix (a wholly owned
subsidiary of United Health Care), www.ingenix.com, where he
was responsible for their multi media marketing collateral and
campaigns as well as web site design and interactive e-mail.
Previous to that Mr. Marshall worked for Novell, Inc. where he
supervised the international launching of several software
products, including the Netware Operating Systems. His
products generated an average of $300 million in annual sales
for Novell. For more information on Mr. Marshall check
``about/management'' at www.cmecut.com.
On a related note, CCI has selected AnD, www.andworks.com,
as the branding agency responsible for creating WaveScreens'
product image and the national product launch.
About AnD
AnD is a creative agency specializing in brand identity, print,
collateral, and web design.
Founded in 1996, AnD has created award-winning work for numerous
clients, including Franklin
Covey, Philips Broadcast/Thomson Multimedia, United Way, Intel and
Iomega.
About Commercial Concepts, Inc.
The Company's products and services are based on Internet-related
database driven software.
The Company's three initial products are:
1. CCI Picturebase©, a patent pending medical imaging software that
captures and stores a
variety of images.
2. WaveScreens, a customized screen saver that disseminates host
information while
generating revenues through local and national advertising. These
revenues are shared
between the host and the Company. The Company is targeting three
distinct host markets:
non-profit organizations (schools, charities, and community groups),
corporations (that have
large intra-company communication needs), and commercial enterprises
(sports franchises,
theme parks, fan clubs).
3. X-Card(TM), an affordable ``multi media brochure'' delivered on a
shaped compact disc (CD)
or card.
Additional information is available at www.cmecut.com. Those interested
in receiving e-mails of
future press releases can register on the Company's Web site.
This press release contains ``forward-looking statements'' within the
meaning of Private
Securities Litigation Reform Act of 1995, Section 27A of the Securities
Act of 1933 and Section
21E of the Securities Exchange Act of the 1934. These forward-looking
statements can be
identified by the use of forward-looking terminology such as ``branding
the software product
across national markets'' Actual events or performance involve risks and
uncertainties that could
differ materially from those anticipated in such forward-looking
statements. Factors that could
cause actual results to differ materially from those projected in
forward-looking statements
include SEC procedures. Such forward-looking statements are subject to
other risks and
uncertainties, which are detailed in the Company's filings with the
Securities and Exchange
Commission.
SOURCE: Commercial Concepts, Inc.
:=) Gary Swancey
(OTC Bulletin Board: FTLAQ)07/27 12:37 Fruit of the Loom Reports Continued Improvement
CHICAGO, July 27 /PRNewswire/ -- Fruit of the Loom, Ltd. , one of the world's leading manufacturers and marketers
of...
http://www.newsalert.com/bin/clipstry?
Fruit of the Loom Reports Continued Improvement
CHICAGO, July 27 /PRNewswire/ -- Fruit of the Loom, Ltd. (OTC Bulletin Board: FTLAQ), one of the world's leading manufacturers and marketers of basic family apparel, reported operating results for its second quarter which reflect continuing improvement. Operating results for the second quarter significantly improved compared to the second quarter of 2000 as the Company continued to reduce operating costs and focus its efforts on core profitable products.
Operating earnings before interest and other expenses, excluding consolidation costs of $34.0 million, were $31.9 million in the second quarter of 2001, a $43.3 million improvement from a loss of $11.4 million in the second quarter of 2000. Operating earnings before interest and other expenses, excluding consolidation costs of $40.7 million, were $29.1 million in the first six months of 2001, an $88.5 million improvement from a loss of $59.4 million in the six-month period ended July 1, 2000.
The improvement in operating earnings in both the second quarter and six- month periods reflects reductions in production costs and lower selling, general and administrative expenses. Excluding consolidation costs, selling, general and administrative expenses decreased $20.8 million to $84.7 million for the six-month period ended June 30, 2001 compared to the corresponding period of 2000. These cost improvements more than offset the impact of volume and price reductions. Consolidation costs aggregated $40.7 million in the six-month period ended June 30, 2001, of which $35.8 million were non-cash costs. Consolidation costs primarily relate to the closure of manufacturing facilities as a result of increased efficiencies, reduced capacity requirements and the Company's continuing focus on low-cost production.
For the six months ended June 30, 2001, the Company reported sales of $661.9 million compared to $823.0 million for the corresponding period in 2000. The lower sales volume was principally due to lower Activewear sales, which were affected by weakness in the overall Activewear market combined with competitively lower pricing. For the six-month period ended June 30, 2001, dozens in the overall Activewear market declined 8% when compared to the corresponding period of 2000. Higher sales volume in the comparable period of 2000 also included sales of discontinued non-core Retail and Activewear product lines, and the Gitano jeanswear business. The Company continued its leadership position in mass merchant sales of Men's and Boys' underwear as the Company's market share increased by 1.0 share points to 44.9% in the twelve months ended May 2001 over the same period of the preceding year.
Net operating cash flows before reorganization items improved $23.7 million to $7.1 million in the six-month period ended June 30, 2001. The Company continues to focus on reducing inventories, achieving its lowest level in over eight years. Inventory at June 30, 2001 was $492.0 million, a reduction of $73.4 million from July 1, 2000.
As of July 25, 2001, the borrowing availability under the Company's debtor-in-possession credit facility (DIP) was $260.9 million. During the first six months of the year, normally the seasonal peak for the Company's working capital needs, there were no borrowings under the revolver component of the DIP. In addition, the Company's cash and cash equivalents decreased by $10.4 million which was approximately equal to the overall reduction in the Company's indebtedness during the period. Management believes that the size of the DIP and cash and cash equivalents exceeding $100 million provide the Company with adequate financial flexibility and liquidity to pay its suppliers and meet customer expectations.
Chief Executive Officer Dennis Bookshester commented, "As a result of our recent manufacturing consolidation efforts, we have aligned our production capacity and cost structure with our long-term strategy. Our focus on quality, service and profitability continues to position us for success. Our customer service measures remain excellent. The Company continues to be well positioned to emerge from bankruptcy."
Fruit of the Loom filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code on December 29, 1999 and is currently working through its restructuring in bankruptcy proceedings. On March 15, 2001 the Company filed a Joint Plan of Reorganization with the United States Bankruptcy Court for the District of Delaware. At this time it is not possible to predict the outcome of the reorganization cases, in general, or the effects of the reorganization cases on the business of the Company or on the interests of creditors. There can be no assurance that the Joint Plan of Reorganization will be approved or that the Company will emerge from bankruptcy.
Except for historical information contained herein, information set forth in this news release may contain forward-looking statements and information, which describe or reflect the Company's beliefs concerning future business conditions and the outlook for the Company. These forward looking statements are subject to risks, uncertainties and other factors that could cause the Company's actual results or performance to differ materially from those expressed in, or implied by, these statements. These risks, uncertainties and other factors include, but are not limited to, the following: the ability of the Company to continue operating as a going concern and successfully emerge from Chapter 11 protection pursuant to the approval of a reorganization plan that provides for the Company to remain substantially intact, the Company's ability to successfully execute its corporate strategy in a competitive marketplace, the financial strength of the retail industry, particularly the mass merchant channel, the level of consumer spending for apparel, the amount of sales of the Company's activewear screenprint products, the competitive pricing environment within the basic apparel segment of the apparel industry, the Company's ability to develop, market and sell new products, the Company's successful planning and execution of production necessary to maintain inventories at levels sufficient to meet customer demand, the Company's effective income tax rate, the success of planned advertising, marketing and promotional campaigns, political and regulatory uncertainty that could influence international activities, the resolution of legal proceedings and other contingent liabilities, and weather conditions in the locations in which the Company manufactures and sells its products. Please refer to the Company's documents on file with the Securities and Exchange Commission and the U.S. Bankruptcy Court in Delaware for other risks and uncertainties and for additional information that the Company is required to report to the U.S. Bankruptcy Court on a monthly basis. The Company assumes no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise.
Fruit of the Loom is a leading, international vertically integrated basic apparel company, emphasizing branded products for consumers of all ages. The Company is one of the world's largest manufacturers and marketers of men's and boys' underwear, women's and girls' underwear, printable T-shirts and fleece for the activewear industry, casualwear and childrenswear. Fruit of the Loom employs approximately 23,000 people in more than 50 locations worldwide. The Company sells its products principally under the FRUIT OF THE LOOM(R) and BVD(R) brands. For more information about the Company and its products, visit http://www.fruit.com . The contents of the Company's web site are not a part of this release.
FRUIT OF THE LOOM, LTD. AND SUBSIDIARIES
(Debtor in Possession)
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
(In thousands, except per share data)
Three Months Ended Six Months Ended
June 30, July 1, June
30, July 1,
2001
2000
2001 2000
Net
sales
$347,700 $447,400
$661,900 $823,000
Cost of
sales
269,400 402,000
535,800 764,600
Gross
earnings
78,300 45,400
126,100 58,400
Selling, general and
administrative expenses:
Operating
40,300
50,700 84,700 105,500
Consolidation
costs
34,000
---
40,700 ---
Total
74,300 50,700
125,400 105,500
Goodwill
amortization
6,100
6,100 12,300
12,300
Operating
loss
(2,100) (11,400)
(11,600) (59,400)
Interest
expense
(26,200) (31,300)
(55,000) (60,600)
Other income (expense) -
net
(1,800)
(3,000)
900 5,300
Loss from continuing
operations before
reorganization items
and income tax
provision
(30,100) (45,700)
(65,700) (114,700)
Reorganization
items
(5,600) (9,500)
(16,200) (19,000)
Loss from continuing
operations before
income tax
provision (35,700)
(55,200) (81,900) (133,700)
Income tax
provision
500
700
1,000 1,400
Loss from continuing
operations
(36,200) (55,900)
(82,900) (135,100)
Discontinued operations -
Sports & Licensing:
Loss from
operations
---
---
--- (2,600)
Net
loss
$(36,200) $(55,900) $(82,900)
$(137,700)
Loss per common share:
Continuing
operations $ (0.54) $
(0.83) $ (1.24) $ (2.02)
Discontinued
operations - Sports
&
Licensing:
Loss from
operations
---
---
--- (0.04)
Net
loss
$ (0.54) $ (0.83) $
(1.24) $ (2.06)
Loss per common share -
assuming dilution:
Continuing
operations $ (0.54) $
(0.83) $ (1.24) $ (2.02)
Discontinued
operations - Sports
&
Licensing:
Loss from
operations
---
---
--- (0.04)
Net
loss
$ (0.54) $ (0.83) $
(1.24) $ (2.06)
Average common
shares
67,000
67,000 67,000
67,000
Average common shares -
assuming
dilution
67,000
67,000 67,000
67,000
FRUIT OF THE LOOM, LTD. AND SUBSIDIARIES
(Debtor in Possession)
CONDENSED CONSOLIDATED BALANCE SHEET
(In thousands of dollars)
June 30, December 30,
ASSETS
2001
2000
Current
Assets
(Unaudited)
Cash and cash equivalents
(including restricted
cash)
$123,600 $134,000
Notes and accounts
receivable
(less allowance for
possible
losses of $40,400 and
$44,800,
respectively)
197,700
143,400
Inventories
Finished
goods
383,700
417,900
Work in
process
82,500
102,400
Materials
and
supplies
25,800
45,100
492,000
565,400
Other
35,200
26,100
Total current
assets
848,500
868,900
Property, Plant and
Equipment
965,200 1,117,700
Less accumulated
depreciation
750,900
841,100
Net property, plant and
equipment
214,300
276,600
Other Assets
Goodwill (less accumulated
amortization
of $389,000 and
$376,700, respectively)
594,300
606,600
Other
61,900
77,300
Total other
assets
656,200
683,900
$1,719,000 $1,829,400
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Current maturities of
long-term debt
$741,700 $746,400
Trade accounts
payable
36,100
33,500
Net liabilities of
discontinued
operations
5,600
5,100
Other accounts payable and
accrued
expenses
226,300
236,600
Total current
liabilities
1,009,700 1,021,600
Noncurrent Liabilities
Long-term
debt
408,900
410,300
Net liabilities of
discontinued
operations
11,700
11,900
Other
20,300
11,500
Total noncurrent
liabilities
440,900
433,700
Liabilities Subject to
Compromise
536,100
540,700
Minority
Interest
71,700
71,700
Common Stockholders'
Deficit
(339,400) (238,300)
$1,719,000 $1,829,400
FRUIT OF THE LOOM, LTD. AND SUBSIDIARIES
(Debtor in Possession)
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
(In thousands of dollars)
Six Months Ended
June 30, July 1,
2001
2000
Cash Flows from Operating Activities
Loss from continuing
operations
$(82,900) $(135,100)
Adjustments to reconcile
to net
operating cash
flows:
Depreciation and
amortization
45,400
60,700
Decrease in working
capital
13,200
66,000
Cash flows of discontinued
operations
300
20,300
Gains on marketable equity
securities
(4,900) (15,800)
Consolidation of operations --
writedowns and
reserves
39,900
---
Other --
net
(3,900) (12,700)
Net operating cash flows
before reorganization items
7,100
(16,600)
Net cash used for
reorganization
items
(12,200)
(9,100)
Net operating cash
flows
(5,100) (25,700)
Cash Flows from Investing Activities
Capital
expenditures
(13,100)
(5,500)
Proceeds from sale of
property,
plant &
equipment
7,600
2,000
Proceeds from sale of
marketable
equity
securities
7,100
14,100
Other -
net
(900)
(1,000)
Net investing cash
flows
700
9,600
Cash Flows from Financing Activities
DIP financing
proceeds
500,100
703,400
DIP financing
payments
(505,800) (680,800)
Principal payments on
long-term
debt and capital
leases
(300)
(300)
Net financing cash
flows
(6,000)
22,300
Net increase in Cash and cash equivalents
(including restricted
cash)
(10,400)
6,200
Cash and cash equivalents (including
restricted cash) at beginning of
period
134,000
44,500
Cash and cash equivalents (including
restricted cash) at end of
period
$123,600
$50,700
CONTACT: George McCane of Richards/Gravelle, +1-214-891-5786, or george_mccane@richards.com, for Fruit of the Loom, Ltd.
MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X19290384
SOURCE Fruit of the Loom, Ltd.
/CONTACT: George McCane of Richards/Gravelle, +1-214-891-5786, or
george_mccane@richards.com, for Fruit of the Loom, Ltd./
/Web site: http://www.fruit.com /
(FTLAQ)
FRUIT OF THE LOOM 'A' - FTLAQ
Price 0.17
Net Change -0.00
Volume (000) 126
Day High 0.19
Day Low 0.17
:=) Gary Swancey
(OTC Bulletin Board: ECMD)eClickMD, Inc. and RTRx Announce Intent to Form Value-Added Services Partnership
AUSTIN, Texas, July 27 /PRNewswire/ -- eClickMD, Inc. , the power behind e-signature and connectivity solutions for healthcare, today announced intent to form a partnership with RTRx, Inc. (Real-Time Rx, Inc.) to deliver a more comprehensive product line to its clients.
Through this partnership, eClickMD clients will have access to RTRx's intuitive prescription management program. eClickMD, Inc. will provide RTRx clients with its patent-pending digital signature technology to append to electronic prescriptions and a secure platform to ensure HCFA compliance. The companies are planning a joint marketing agreement that will result in revenue sharing.
"This partnership makes perfect sense," stated eClickMD VP of Marketing DeeDee Deshotels. "Our physician clients are overwhelmed with paper, most of it being prescription-related. The combination of ClickMD with RTRx provides a paperless, efficient and secure platform by which our customers can generate thousands of transactions through our site. Our next step is to secure online prescription fulfillment partners."
"So far, the online prescription drug market has been virtually untapped. RTRx is capitalizing on the growing electronic prescription market by creating efficiency and value for physicians and pharmacists," states RTRx Chief Medical Officer Larry Susnow, M.D. "The RTRx/eClickMD partnership may be the solution that the physician and homecare market is looking for."
About RTRx:
RTRx is a leading provider of point-of-care prescription management solutions designed to meet the needs of physicians, managed care payers and plans. The company provides easy-to-use electronic prescribing and uses the Internet to route transactions to community-based retail, mail order and Internet pharmacies and managed care organizations. Founded in Houston in 1998, RTRx provides solutions to physicians across the United States.
About eClickMD:
eClickMD's ASP technology empowers healthcare organizations to securely track, store, and manage their critical patient data with a suite of point-and-click accessible tools. eClickMD solutions include applications for e-signature of physician orders and secure transmission of patient data to third parties. To safeguard sensitive data, eClickMD employs digital certificates, sophisticated encryption, and other security measures.
A corporate profile for eClickMD may be found at http://www.eclickmd.com/WhoWeAre/whowe.html .
Safe Harbor Statement:
Statements contained herein, other than historical data, may constitute forward-looking statements. When used in this document, the words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements regarding events and financial trends which may affect the Company's future operating results and financial position. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements and are subject to risks and uncertainties including, but not limited to the Company's ability to successfully integrate its technology with other technologies according to contractual performance criteria as well as those risks set forth in the Company's forms 10-KSB, forms 10-QSB, and other SEC filings.
http://tbutton.prnewswire.com/prn/11690X33253363
SOURCE eClickMD, Inc. and RTRx, Inc.
/CONTACT: Dee Dee Deshotels of eClickMD, Inc., +1-512-837-7700, or
sddeshotels@eclickmd.com/
/Web site: http://www.eclickmd.com/WhoWeAre/whowe.html
http://www.eclickmd.com /
(ECMD)
ECLICKMD INC - ECMD
Price 0.90
Net Change +0.01
Volume (000) 6
Day High 0.90
Day Low 0.85
:=) Gary Swancey
(OTC: DYMI) DYNAMIC MEDIA, Inc. - A Historical First; Company to Produce Largest Broadcast DVD HD Television Series in China History
PHILADELPHIA, July 27 /PRNewswire/ -- Dynamic Media, Inc. announced that it has finalized and signed formal contracts for the "Joint Venture" with China to produce a series of the largest broadcast DVD, videotape and high definition television specials in both China and American History. The company estimates that the value of the "Joint Venture" is in excess of $30 million.
As part of a joint American/Chinese venture, Dynamic Media will be traveling throughout China to produce television programs and DVDs that include, but are not limited to:
Road to Beijing -- This DVD and television program will be issued with updates available quarterly for the next 7 years. It will focus on the city of Beijing and what it takes to prepare for the world Olympic games. This quarterly subscription-based DVD will also include entertaining travel tips to China, Travel Specials, updates from the Chinese government, including visa application, hotel information, Olympic ticket information and many other valuable pre-Olympic tips.
Authentic Chinese Cuisine -- Includes the most well-known dishes from master chefs.
Chinese Medicine -- An examination of the herbal medicines common to China from its early days to the modern era. An important look at the new, recently issued guidelines on the readjustment and normalization of China's medicine market, which includes a crackdown on producing and selling fake and shoddy drugs.
The Forbidden City -- This television and DVD documentary will provide one of the first looks into what has been heretofore, unseen except by a limited few.
The Hidden Secrets Of Tibet -- No single land has encouraged the imaginations of America and Europe more than Tibet. The Hidden Secrets of Tibet will present the mystery and heretofore unseen beauty of the enchanted land of Tibet.
The History And Life Of Mongolia -- One of the first looks into the country that produced Genghis Khan, who changed the face of the Roman Empire. Until now, few have been permitted to enter Mongolia. This television and DVD documentary will highlight the present day urban and rural countryside against its historical roots.
Chinese Magic -- The most ancient of all art forms is conjuring and China holds claim to this mystical art form from its earliest roots. Today, some of the best known of modern magicians hail from China. The interactive DVD will unveil some of the secrets to Chinese magic.
Kung Fu Art And History -- Kung Fu Programs will be presented by a Master against an ancient Monastery background and will include beginning, intermediate and advanced Kung Fu training.
"This is all original material, the first of a kind," said Dr. Warren Chaney, Director of Dynamic Media, who serves as the project's Director. "We will be working on this for some time. This will be terrific for China with the Olympics coming up and it will be excellent for Dynamic Media."
Recently, Dynamic Media announced that it has formally filed a Form SB-2 registration for a $4,400,000 stock offering, with the Securities and Exchange Commission ("SEC").
This filing will allow Dynamic Media, Inc. to become a fully reporting company whereupon the Company intends to immediately resume trading on the Over-the-Counter Bulletin Board ("OTCBB").
About Dynamic Media, Inc.
Dynamic Media's strategy is to capitalize upon the immediate market opportunities created by the popularity of entertainment and educational DVDs. With current statistics showing one DVD Player in every 5 consumer homes with a dramatic increase each year, the focus of the company is on the development of original content and its marketing of DVD entertainment and educational programs. Dynamic Media is one of the industry leaders in the development of DVD interactive programming, which has been shown to dramatically improve teaching and learning and will provide DVD entertainment for the next generation.
More on Dynamic Media, Inc. can be found at the company's website at www.dynamicmediainc.com
Statements contained in the news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from expected results.
CONTACT: Theresa Corrado
Investor Relations
info@dynamicmediainc.com
Dynamic Media
Phone: 1-215-981-1016
Fax: 1-215-636-0162
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SOURCE Dynamic Media, Inc.
/CONTACT: Theresa Corrado, Investor Relations of Dynamic Media,
+1-215-981-1016, or fax, +1-215-636-0162, info@dynamicmediainc.com /
/Web site: http://www.dynamicmediainc.com /
(DYMI)
- DYMI
Price 0.49
Net Change +0.04
Volume (000) 25
Day High 0.49
Day Low 0.05
:=) Gary Swancey
(OTCBB:WINE) GourmetMarket.com Acquires Williams Software Inc. d/b/a FirstPop Technologies; Interactive Marketing Company Changing its Name to TargitInteractive Inc.
PORTSMOUTH, N.H.--(BUSINESS WIRE)--July 27, 2001-- GourmetMarket.com announced today that it has completed the acquisition of Williams Software Inc. d/b/a FirstPop Technologies, a privately held interactive marketing company based in Deerfield Beach, Fla. This acquisition is consistent with the Company's strategy of increasing shareholder value by building a full function interactive marketing company. This marks the second expansion of the Company's interactive marketing operations, which started with the acquisition of TargitMail, a permission based e-mail marketing company, in May of this year. The new combined company will be headquareterd in Portsmouth, N.H.
The Company also announced that James Baker, FirstPop's Chairman and CEO, has been named President and Chief Operating Officer of the Company, and has joined the Board of Directors. David Smith, a FirstPop Board Member, has been named Executive Vice President of the Company.
Noel Guillama, Chairman of GourmetMarket, stated: "We are happy to add FirstPop's proprietary technology, management expertise and extensive market knowledge to our existing operations. As we continue building a leading interactive marketing company, we believe this transaction is an excellent opportunity for our stockholders."
James Baker, President and COO stated: "After TargitMail was acquired in May 2001, the operations of the two companies were combined and FirstPop's management began working with TargitMail to achieve a smooth integration of the two entities. With the finalization of the FirstPop acquisition, our product and service offerings have been significantly expanded to provide more of a one-stop-shop. As an interactive marketing service provider, we believe that our side-by-side offerings of e-mail and instant windows, combined with our creative capability, make us the leader in the interactive marketing industry."
The Company also announced that it has mailed an Information Statement to its stockholders giving notice of a 30-1 reverse stock split of the Company's outstanding common stock. The Company's name will change to TargitInteractive Inc. to reflect its new focus as an interactive marketing company.
MCG Partners Inc., a Boca Raton-based merchant-banking firm, acted as financial advisor to the Company.
About FirstPop
Formed in 1999, FirstPop Technologies has developed a unique message delivery system platform for use by corporate clients for broadcasting marketing or corporate messages across the Internet or through private intranets or extranets. FirstPop's clients and affiliates include Arm and Hammer, Dell Computer, and IBM. The company anticipates sales of over $1 million for 2001.
About TargitMail
Based in Portsmouth, N.H., TargitMail is a permission based e-mail marketing company whose mission is to be the leading provider of permission based e-mail marketing services and solutions to businesses ranging from small office/home office businesses to Fortune 500 companies. TargitMail aggregates their e-mail active end-use customers into a unified database of rich profiles that enables marketers to launch cost effective direct e-mail marketing campaigns to targeted recipients. The company utilizes its proprietary Electronic Targeted Opt-In Messaging (eTOM) network to collect, sort and analyze e-mail addresses and relevant marketing information as well as cost effectively send advertisements to e-mail recipients in TargitMail's database on a permission only basis.
TargitMail's sales increased from approximately $2 million in 1999 to over $6 million in 2000. The e-mail marketing industry has recently achieved critical mass, and is projected to grow from an estimated $164 million in 2000 to approximately $7.3 billion by 2005, solidifying this channel as the critical advertising application for the future.
Forward Looking Statements
This release contains certain forward-looking statements regarding GourmetMarket.com, including statements about its operations, prospects and expectations about future financial results, including, but not limited to, future revenues and earnings. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially and are subject to change at any time. The Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including those risks and uncertainties detailed in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2000 filed with the SEC.
CONTACT: TargitInteractive,
Portsmouth
James R. Brown, 603/766-8300
or
MCG Partners, Boca Raton, Fla.
Mindy Stein, 561/620-9234
GOURMETMARKET.COM INC - WINE
Price 0.02
Net Change 0.00
Volume (000) 40
Day High 0.02
:=) Gary Swancey
(OTC Bulletin Board: SBIG) The Seibels Bruce Group, Inc. Announces 2001 Second Quarter Profit
COLUMBIA, S.C., July 27 /PRNewswire/ -- The Seibels Bruce Group, Inc., today announced financial results for the quarter that ended June 30, 2001.
For the second quarter of 2001 the Company posted a net profit of $1.1 million, or $0.13 per share (basic and diluted). This is compared with a net loss of $21.6 million, or $2.76 per share, for last year's second quarter.
"Our strategy of focusing on fee-based businesses and only those risk-bearing businesses that we believe can be profitable rewarded us with the fourth consecutive profitable quarter," said Jack Natili. "We continue to be pleased that the strategy we implemented in the second quarter of last year is working."
The automobile segment reported net income of $1.8 million. "Our decision to maintain a nonstandard automobile presence in North Carolina through our Universal Insurance Company (Universal) subsidiary contributed largely to this profit. New management has been successful in substantially growing Universal's premiums, most of which are ceded to the North Carolina Reinsurance Facility, and in improving loss ratios associated with our retained book of business," commented Natili. "The automobile segment was also positively effected by favorable development of the run-off of other nonstandard automobile business."
The flood segment reported a gain of $403 thousand for the quarter. "Premium growth, expense reduction initiatives and increased claim activity due primarily to Tropical Storm Allison contributed to our profit in the flood business," Natili said. "Because of our continued efforts to increase volume, the Company is better positioned to benefit from fee-based income for processing claims for the National Flood Insurance Program (NFIP)."
Commercial operations reported a net loss of $1.6 million for the quarter. "Our commercial lines operation was negatively impacted by a charge of $1.6 million associated with the Company's mandatory participation in certain residual market pools. This is expected to be a nonrecurring charge that will not effect the results of our commercial lines business going forward," stated Natili. "We continue to be extremely pleased with the favorable loss ratio associated with our commercial lines book of business." Seibels Bruce's adjusting services segment posted a profit of $177 thousand for the quarter. "For the sixth consecutive quarter since reporting separately the results of our adjusting services subsidiary, Insurance Network Services, Inc., (INS), it has posted a profit." stated Natili. "While INS's revenues are down substantially this quarter, primarily due to the run-off of South Carolina Reinsurance Facility business handled by INS, its non-Facility business continues to grow."
The all other segment posted a profit of $242 thousand. "This profit was produced due to the Company's adjusting the estimated settlement of an outstanding lawsuit by $370 thousand. The Company believes the lawsuit will settle favorably in the near future," said Natili.
Natili concluded, "We are very pleased with four consecutive quarters of profitability and continue to be optimistic about the future of Seibels Bruce. Our team continues to focus its efforts on profitable businesses to provide value to our shareholders."
The Seibels Bruce Group, Inc. receives fee-based income through the NFIP, various state-sponsored insurance plans, claim administration and other insurance services. In addition, it is a provider of automobile and commercial lines property and casualty insurance products. Additional information about Seibels Bruce can be found on-line at http://www.seibels.com .
Certain items in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and as such involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Seibels Bruce or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Seibels Bruce expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward- looking statements contained herein to reflect any change in Seibels Bruce's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.
The Seibels Bruce Group, Inc.
RESULTS OF OPERATIONS
(in thousands, unaudited)
Three months ending Six months ending
June
30
June 30
Revenues:
2001
2000
2001 2000
Automobile
$5,145 $5,510
$11,823 $16,325
Flood
4,576
4,099 8,661
7,168
Commercial
2,355
800 3,699
1,476
Adjusting
Services
2,609
3,557 5,020
6,819
All
Other
324
177
552 545
$15,009 $14,143
$29,755 $32,333
Net income (loss):
Automobile
(a)
$1,812 $(21,535) $2,057
$(23,938)
Flood
403
(115)
908 (238)
Commercial
(1,584)
(281) (813)
(345)
Adjusting
Services
177
716
500 834
All
Other
242
(370) (583)
(812)
1,050 (21,585)
2,069 (24,499)
Provision for income
taxes
-
-
- -
Net income
(loss)
$1,050 $(21,585) $2,069
$(24,499)
Basic earnings (loss)
per share:
Net income
(loss)
$0.13 $(2.76)
$0.25 $3.13
Weighted average shares
outstanding
7,832
7,832 7,832
7,831
Diluted earnings (loss)
per share:
Net income
(loss)
$0.13 $(2.76)
$0.25 $(3.13)
Weighted average shares
outstanding
8,219
7,832 8,189
7,831
(a) Includes a special items charge of $16,421 and a
related nonrecurring
charge of $1,800 recorded in
the quarter ended June 30, 2000
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SOURCE The Seibels Bruce Group, Inc.
/CONTACT: Jack Natili President and Chief Executive Officer,
+1-803-748-2643, or fax, +1-803-748-2839, or natij@seibels.com, or Kenneth W.
Marter, Chief Financial Officer and Treasurer, +1-803-748-2767, or fax,
+1-803-748-8393, or martk@seibels.com, both of The Seibels Bruce Group/
/Web site: http://www.seibels.com/
(SBIG)
SEIBELS BRUCE GROUP INC - SBIG
Price 2.50
Net Change -0.11
Volume (000) 3
Day High 2.66
Day Low 2.25
:=) Gary Swancey
(OTC:WPBC) Wyman Park Bancorporation, Inc. Announces Stock Repurchase Program
LUTHERVILLE, Md.--(BUSINESS WIRE)--July 27, 2001--Wyman Park Bancorporation, Inc. announced its intention to repurchase up to an additional 20,000 shares of its outstanding shares in the open market.
These shares will be purchased at prevailing market prices from time to time depending upon market conditions.
Ernest A. Moretti, President of the Company, indicated that the Board of Directors approved the repurchase program in view of the current price level of the Company's common stock and the strong capital position of the Company's subsidiary, Wyman Park Federal Savings & Loan Association. The repurchased shares will become treasury shares and will be used for general corporate purposes.
The repurchase program will be executed through Trident Securities.
At June 30, 2001, the Company had $70.6 million in assets and stockholders' equity of $8.7 million. The Company currently has 822,490 shares outstanding.
The Company's stock is traded on the OTC Electronic Bulletin Board under the symbol "WPBC."
CONTACT: Wyman Park Bancorporation, Inc.
Ernest A. Moretti, 410/252-6450
WYMAN PARK BANCORPORATION INC - WPBC
Price 7.15
Net Change -0.10
Volume (000) 0
Day High 7.15
Day Low 7.15
:=) Gary Swancey
(OTC BB ZKEM) Xechem, Inc., a Subsidiary of Xechem International, Inc. Announces That It has Obtained Regulatory Approval to Sell Paclitaxel in India
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--July 27, 2001--Xechem Inc. a subsidiary of Xechem International, Inc. today announced that it has obtained notice of regulatory approval to import and sell generic Chinese paclitaxel in India.
Xechem received its notice and authorization from the Indian Government on Friday, July 20, 2001. In addition to obtaining approval in India, Xechem is aggressively seeking approval to import and/or sell generic paclitaxel in other countries, including Indonesia and other Pacific Rim Countries, Africa, Europe, South America Countries and the United States.
According to Xechem's President and CEO, Dr. Ramesh C. Pandey, "Xechem is very excited about receiving its first regulatory approval to sell generic paclitaxel in a major market and all of Xechem's efforts in this arena are at last coming to fruition. Xechem will adhere to its aggressive plans to sell generic paclitaxel and its new paclitaxel formulation (and other new generation paclitaxel analogs) in as many geographic jurisdictions throughout the world as possible including the United States."
Xechem International, Inc., (www.xechem.com) headquartered in New Brunswick, NJ, with subsidiary companies in USA, India and joint venture partners in both Hong Kong and Peoples Republic of China, is a biopharmaceutical company of which Xechem, Inc. (a US subsidiary) is engaged in the research, development and production of generic and proprietary drugs from natural sources, specializing in the development of niche-generic, difficult to replicate anticancer, antiviral (including Human Immuno-deficiency Virus, HIV), antifungal and anti-infective compounds and screens extracts and pure compounds from various parts of the world for their therapeutic use. XetaPharm, Inc., a subsidiary of Xechem, develops quality controlled nutritional products such as GinkgoOnce(R), GinsengOnce(R), GarlicOnce(R), Gugulon(TM), Co-Enzyme Q-10 and VIDA PRAS(TM) as well as numerous other products under development. All XetaPharm products can be seen and ordered from our website at www.xetapharm.com, at our toll-free number (1-800-858-5854) or through a growing number of pharmacies, health food and nutritional stores.
For further information, contact John P. Luther, Vice President and General Counsel at (732) 247 - 3300.
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks, uncertainties, including the ability of the Companies to successfully develop and commercialize their technologies, and other factors that may cause the actual results, performance or achievements of the Companies to be materially different from any future results, performance or achievements of the Companies expressed or implied by such forward-looking statements.
CONTACT: Xechem International, Inc., New
Brunswick
John P. Luther, 732/247-3300
XECHEM INTL INC - ZKEM
Price 0.02
Net Change +0.01
Volume (000) 3085
Day High 0.02
Day Low 0.01
:=) Gary Swancey
(OTCBB:EECI) Empire Energy Corporation Announces Well Test Progress
OVERLAND PARK, Kan.--(BUSINESS WIRE)--July 27, 2001--Empire Energy Corporation announces today the status of its completion activities in the Bedsole No. 1 well located in Leon County, Texas. A net 42' of the upper Cotton Valley sand interval from 12,810 - 12,920' was stimulated on July 16 with a slickwater frac consisting of 9,600 barrels of fluid and 106,000 lbs of sand proppant. The frac went according to design with all stages delivered at pressures ranging from 5,400 to 5,800 psi at a rate of 60 bbls/minute. After the frac was completed, the frac fluid and gas began flowing back on a 5/64" choke with an initial flowing tubing pressure of 3,200 psi. With an estimated 60% of the frac fluid now recovered, the well is on a 14/64" choke with a flowing tubing pressure of 1,300 psi. A water free completion would yield 1.8MMcfd at 1,300 psi. With 40% of the frac fluid remaining to be recovered, the pressures are likely to fluctuate with an increase suggesting higher yields.
This flow back process is a managed process that can take as long as 30 - 60 days. It requires a balance of fluid removal associated with gas recovery in an attempt to avoid damage to the propped reservoir, ie: collapse due to rapid extraction. As such, the flow back will continue until the well stabilizes and flow testing can be conducted to calculate ultimate production rates. The results of the completion activities are encouraging but production rates cannot be determined until the flow back and subsequent testing are completed.
Empire has contracted with Anadarko to sell the gas and a tap has been set in the pipeline which is located approximately 3000' from the well. Tanks, separators, etc. will arrive on location the week of July 30 and a pipeline from the location to the tap is scheduled to be completed within 10 days.
Empire operates and owns a 95% Working Interest within the Bedsole Gas Unit, located in Leon County, Texas and is currently evaluating development options for the drilling of an additional 6 - 8 wells on the remainder of the acreage.
For more information, visit Empire's website at www.empireenergy.com or you can call Bryan S. Ferguson, President at 913/469-5615 or for Investor Relations, Doug Wolters at 800/950-2587.
Certain statements above constitute forward-looking statements with respect to Empire Energy Corporation. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Empire Energy Corporation to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.
CONTACT: Empire Energy Corporation
Bryan S. Ferguson, 913/469-5615
Doug Wolters, 800/950-2587 (Investor Relations)
- EECI
Price 0.65
Net Change -0.05
Volume (000) 2
Day High 0.75
Day Low 0.65
:=) Gary Swancey
(NASDAQ: CNLG, CNLGW) Conolog Rescinds Approval of One-for-Three Reverse Split
SOMERVILLE, N.J.--(BUSINESS WIRE)--July 27, 2001--
-- Unequivocally Assures Shareholders There Will Be No Split --
Conolog Corporation announced today that the Board of Directors has decided that it will not, under any circumstances, implement a reverse split, even to maintain the Company's listing on Nasdaq SmallCap.
Conolog President, Marc Benou, stated, "Because the fundamentals of the Company ($3.22 per share book value and nine-month per share earnings of $0.33) far exceed the market value, the Company believes that the stock should reflect the underling value, stay above $1 and maintain our Nasdaq listing."
About Conolog Corporation:
Conolog Corporation provides engineering and design services, technical personnel placement, and computer maintenance services to a variety of industries, government organizations, and public utilities nationwide. The Company's INIVEN division manufactures a line of digital signal processing systems, including transmitters, receivers and multiplexers.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
CONTACT: Conolog Corporation
Marc Benou
President
908/722-8081
www.conolog.com
or
National Financial Network
Geoffrey Eiten
Investor Relations
781/444-6100 or 877/385-0977, ext. 613
geiten@nfnonline.com
www.nfnonline.com/cnlg.
:=) Gary Swancey
(OTC Bulletin Board: HRCT) (Frankfurt: HCT 900009), Sinobull Information Ltd, a Hartcourt Subsidiary, Signs Joint Venture Agreement With China's Bank of Communications
LOS ANGELES, July 27 /PRNewswire/ -- The Hartcourt Companies, Inc. www.hartcourt.com, today announced that Sinobull Information Ltd (formerly known as Guo Mao of Shanghai), a member company of the Sinobull Financial Group, has signed a joint venture agreement with China's Bank of Communications to develop a variety of financial products for the FX (foreign exchange) trading market. The country's foreign exchange reserves hit US$165.57 billion at the end of 2000. Globally, approximately $1.5 trillion of foreign exchange is traded daily.
The two business entities have jointly developed a Quoting System named "Foreign Exchange Bao." This quoting system will be marketed to institutional and individual FX investors throughout China. The FX Bao system will provide real-time quotes from all international exchanges, trade executions, account management and market research reports. The joint marketing effort will also feature FX trading seminars to be held by the two parties in all branches of the Bank, first in Shanghai, then subsequently throughout other major Chinese cities.
The Bank of Communications is China's oldest bank, established in 1908 (the Ching Dynasty). The Bank is one of the top five state-owned banks in China. It has over 2,700 branches in 86 cities in China with a total work force of 46,000. It was awarded the "Best Bank in China" in 1998 and 1999. Details on the Bank can be obtained via its Web site, www.bankcomm.com, and www.bankcomm.com.hk.
Mr. Jiang Tai, President of Sinobull, comments, "The Bank of Communications has elected to work with us because Sinobull 's data feed on commodities and foreign exchanges is considered the best in the financial industry. Our data is being used daily by multiple media sources; TV stations, daily newspapers, industry newsletters, and magazines. Our research reports have become the most respected in the nation. Partnering with the Bank 's network of 2,700 branches through out China will enable us to insure that the Sinobull Group will maintain its superior position in the financial data market. Revenues generated from these operations are expected to grow rapidly and will be substantial in the second business year."
The Sinobull Financial Group also recently reported the signing of an agreement to form a strategic partnership alliance with Equis International, a wholly owned subsidiary of Reuters Group. This alliance will jointly develop and implement a plan to localize Equis' award winning MetaStock family of products and market them to financial institutions and investors in Greater China (China, Hong Kong, Macau, Taiwan).
About The Sinobull Financial Group
Sinobull Financial Group is a financial data provider and technology developer and the owner of the popular financial portal, Sinobull.com. Together with all subsidiaries and affiliates of Sinobull Financial Group, Hartcourt and its strategic partners are providing news, data and analysis to the business community and media outlets; real-time pricing, historical pricing, indicative data, analytics and electronic communications. Existing and potential clients include; China's investment institutions, commercial banks, government offices and agencies, corporations, and news/media organizations.
About Hartcourt
The Hartcourt Companies is a holding and development enterprise that has built a broad network of Internet, media, and telecommunication companies in Greater China. In partnership with leading Chinese entrepreneurs and government-sponsored entities, Hartcourt is developing and investing in emerging technologies while building an integrated commercial framework for its subsidiaries and their partners. Hartcourt's operative business strategy is designed to facilitate a series of venture divestitures via IPO or public merger to fully realize the value of these assets for its investors.
Forward-looking statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, but not limited to, factors detailed in Hartcourt's filings with the Securities and Exchange Commission including recent filings of Forms 10-K and 10-Q. The forward-looking statements should be considered in light of these risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Hartcourt undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by Hartcourt or any other person that the events or circumstances described in such statement are material.
For further information, please contact Manu Ohri of The Hartcourt Companies, +1-310-410-7290, mohri@hartcourt.com.
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SOURCE The Hartcourt Companies, Inc.
/CONTACT: Manu Ohri of The Hartcourt Companies, +1-310-410-7290,
mohri@hartcourt.com/
/Web site: http://www.bankcomm.com /
/Web site: http://www.bankcomm.com.hk /
/Web site: http://www.hartcourt.com /
(HRCT)
HARTCOURT COMPANIES INC NEW - HRCT
Price 0.37
Net Change +0.01
Volume (000) 35
Day High 0.38
Day Low 0.35
as of
07/27/01 13:05 PM EDT
:=) Gary Swancey
(OTC Bulletin Board: CGPN) The Cyber Group Network Corporation Announces New, Enhanced Security PIRT Encryption Technology for Computing Devices
- Company Offers 'Virtually Unbreakable' Extension of E-Snitch Technology To FBI
SAN BERNARDINO, Calif., July 27 /PRNewswire/ -- The Cyber Group Network Corporation today announced the release of new encryption technology designed for Motorola two-way pagers based on the FLEX(TM) and Wisdom(TM) OS software platforms, as well as for personal digital assistants ("PDAs") and PCs under any brand using Windows OS. Motorola has sold over 2.2 million two-way pagers using the FLEX(TM) and Wisdom(TM) OS.
Called Password Protection Information Technology, or "PIRT," The Cyber Group's new product is designed to present a virtually unbreakable barrier to the unauthorized use of a computer. The innovation uses an extension of the technology that will be available in The Cyber Group's upcoming E-Snitch product, which enables the user of a lost or stolen portable computing device to track it to within five feet of its location in real time, retrieve or destroy stored data and programs and/or disable the computer.
While any encryption code can be broken in theory, PIRT technology limits the number of attempts to crack the code that can be made before PIRT makes the file disappear, deletes it or limits the intruder's access time by rebooting the computer. In addition, while most encryption software uses a single key, PIRT technology uses three keys.
"PIRT has the potential to become a widely adopted standard for computer security because of its attractive price and advanced features," said the Gregory D. Evans, the Company's CEO.
When PIRT is installed on a computer for the first time, it scans the hard disk for over eleven identifying characteristics such as bios date, bios version number and network card type. If the encrypted file is ever transferred to another computer it will not decrypt if 7 of the 11 characteristics do not match. After it completes this check, a PIRT icon appears on the computer's toolbar menu. To encrypt a file using the PIRT technology, the user simply drags the file down to the icon, where a small window appears, with a prompt requesting the user to assign a password of at least six characters to the file. Then the user chooses from the following menu of options:
Activate
Event
Attempts
[
]
Reboot Computer [ ]
[
]
Forward
[ ] Email to:
[
]
Delete
[ ]
[
]
Rename
[ ] Rename to:
Choosing the "Activate" option will trigger the selected event, either rebooting the computer or forwarding, deleting or renaming the encrypted file. Entering a number in the "Attempts" column will trigger the selected event once incorrect passwords are entered the specified number of times.
User-friendly options
Mr. Evans described the "Delete" and "Forward" options using an example: "Suppose you want to encrypt a file named 'CGPN.doc.' You drag the document to the icon at the bottom of your screen. When prompted to enter a password, you type in, let's say, '12345678' (even though that wouldn't be a very smart choice of password). You then select 'Forward,' set 'Attempts' to '5' and fill in the 'Email' line with an e-mail address 'yourname@hotmail.com.' You then also select 'Delete' and set 'Attempts' to '6.' If an unauthorized person tries to open 'CGPN.doc,' they will be prompted to enter a password. If they enter the password wrong five times, the computer will e-mail the file to you at 'yourname@hotmail.com.' After logging six unauthorized entry attempts and confirming that the e-mail was sent to and received by 'yourname@hotmail.com,' PIRT will destroy the file. Once destroyed, the file is unrecoverable except from your e-mail address, which of course is separately password-protected."
Activating "Rename" and setting "Attempts" at "15," (for example), will cause the computer to assign the file a new filename, known only to the PIRT user, after an intruder enters incorrect passwords fifteen times.
Selecting "Reboot" and setting "Attempts" at "15" will cause the computer to reboot after fifteen incorrect password entries. If the user activates "Reboot" and sets "Attempts" to "1," the computer will reboot each time the password is entered incorrectly.
Availability and marketing
The Cyber Group will be offering this new technology on August 15th at its Web sites www.cybercrimecorp.com or www.spyamericaonline.com. The Company has filed for a copyright on PIRT and is working with a patent attorney to patent the source code. PIRT utilizes other security features that the Company is holding confidential until the patent process has been completed.
The Cyber Group has contacted the FBI to offer this new technology as a cost-effective countermeasure to the FBI's recent highly publicized alleged lapses in computer security. The Company has offered to make 100 sample copies of PIRT available to the FBI free of charge to allow real-world demonstration and testing of the technology.
The Company has also contacted hard-drive distributors to market PIRT as a feature bundled with each hard drive sold.
About Cyber Group
The Cyber Group Network Corp. is a technology company with the three main goals of computer security technology, patented public Internet access devices, and acquisitions of Internet, communications and financial service sector industries to expand its resources. For more information about the Company, visit the following Web sites: www.thecybergroup.net or www.cybercrimecorp.com.
This news release may contain forward-looking statements related to E- Snitch, distribution timeline and functionality which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies and other factors described in the company's filings with the Securities and Exchange Commission. The actual results may differ materially from any forward-looking statements due to such risk and uncertainties. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Motorola, Wisdom and FLEX are trademarks or registered trademarks of Motorola, Inc.
For more information about the company, please contact: Investor Relations, The Cyber Group Network Corp., San Bernardino, 866-660-CGPN, or fax 909-890-5849 or visit the following Web sites: www.cybergroupnetwork.com or www.cybercrimecorp.com.
MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X61673687
SOURCE Cyber Group Network Corporation
/CONTACT: Investor Relations of The Cyber Group Network Corporation,
+1-866-660-CGPN/
/Web site: http://www.cybergroupnetwork.com /
/Web site: http://www.spyamericaonline.com /
/Web site: http://www.cybercrimecorp.com /
/Web site: http://www.thecybergroup.net/
:=) Gary Swancey
(OTCBB:URMD.OB) Alliant Medical Technologies Announces Second Quarter 2001 Results
NORWOOD, Mass.--(BW HealthWire)--July 27, 2001--ALLIANT(TM) Medical Technologies today announced:
- Revenues of $1.5 million for the second quarter ended June 30, 2001, compared with $1.2 million for the same period in 2000.
- Revenues of $2.5 million for the six months ended June 30, 2001, compared with $2.2 million for the same period in 2000.
- Net loss before extraordinary items of $2.4 million, or $0.32 per share, for the second quarter ended June 30, 2001, compared with $1.0 million, or $0.19 per share, for the same period in 2000.
- Net loss before extraordinary items of $3.7 million, or $0.59 per share, for the six months ended June 30, 2001, compared with $2.2 million, or $0.42 per share, for the same period in 2000.
- Net loss of $2.4 million, or $0.32 per share, and $3.7 million, or $0.59 per share, for the three and six months ended June 30, 2001, respectively, compared with $1.0 million, or $0.19 per share, and $0.9 million or $0.17 per share for the same periods in 2000, respectively.
- Extraordinary items represent repurchases, at a discount, of a portion of the Company's Convertible Subordinated Notes.
COMPANY COMMENTS
Dan Muscatello, ALLIANT'S President and CEO commented, " Q2 2001 had more than a 50% top line increase from Q1 2001, primarily driven by software systems and support revenues as a result of our enhanced product offering since the late Q1 acquisition of SSGI Prowess, a leader in the cancer treatment planning market. The short-term bottom line effect on the newly combined UroMed and SSGI Prowess was in line with our expectations, and was largely a result of amortization charges of intangible assets recorded as part of the deal and an increased employee base in the sales, software development and customer support functions." Muscatello continued, "Our Q2 performance reflects the early stages of combining two companies' salesforces and product lines. We feel that our alignment of the organization's resources to support our increased market opportunity, customer base and strategic partnerships positions us well for future bottom line improvement."
"On July 20th we announced the signing of a multi-year distribution agreement with NOMOS Corporation to market its Intensity Modulated Radiation Therapy (IMRT) and other cancer treatment products to the radiation oncology marketplace.
IMRT is the fastest growing segment of the radiation therapy market and enjoys favorable reimbursement. With the addition of NOMOS' products, ALLIANT(TM) offers a comprehensive line of advanced radiation therapy products used in the treatment, planning and delivery of brachytherapy and external beam radiation therapy."
"This partnership is an important step for ALLIANT," continued Muscatello. "Our strategy of expanding our strategic partnerships to add critical mass is beginning to take shape. Our plan is to continue to be very selective in terms of who we partner with in order to offer products and services consistent with our mission of providing the highest quality products and services to our customers. NOMOS is an excellent company that has set the standard for IMRT industry wide. This distribution agreement allows ALLIANT to offer its customers a most unique suite of products for prostate cancer and other cancer treatment planning as well."
"In July, ALLIANT attended its first major trade show at the annual American Association of Physicists in Medicine (AAPM) conference in Salt Lake City, Utah. The combined product offering of Prowess Systems, Symmetra I-125 and NOMOS IMRT was well received by the radiation oncology community. This feedback confirms the Company's belief that the continued focus on key strategic partnerships will lead to broader market penetration."
COMPANY MISSION
ALLIANT's mission is to deliver stakeholder value by providing highly effective and efficient cancer treatment options that will improve both the longevity and quality of life for cancer patients around the world. Our organization's foundation is built on a solid technology base along with the integrity, commitment and respect of experienced team members.
We are focused on developing a deep understanding of our markets, listening closely to customers and establishing key strategic alliances that will lead to the development and distribution of products and services that are consistent with our core strategy and will ultimately deliver a return to our investors.
As always, the company plans to continue to dedicate resources to develop and/or acquire products that fit into its strategic platform.
On July 19, 2001, UroMed Corporation announced that it would change its name to "ALLIANT Medical Technologies", and until it receives formal stockholder approval it would do business under that name.
RISK FACTORS AND FORWARD-LOOKING STATEMENTS
The Company recognizes that the previous paragraphs contain forward-looking statements relating to the Company's future activities, including the benefits expected through the Company's combination with SSGI Prowess, the distribution agreement with NOMOS, the development and commercialization of the Company's product lines and the Company's anticipated improvement in operating performance and future growth. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control. Actual results could differ materially from these forward-looking statements as the result of certain risks, including the risk that the Company will not successfully manage the combination of the UroMed and SSGI Prowess businesses, that physicians will not use the Company's products in significant numbers, the risk that physicians using the Company's products will not develop into long-term users, the Company's ability to successfully reduce costs, the uncertainty of securing additional alliances, the uncertainty of general market acceptance of the Company's product lines, as well as the Company's dependence on these products going forward, and the risk that the Company will not be able to successfully develop any new products. There can be no assurance that these risks would not have a material adverse effect on the Company. Other relevant risks are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2000, under the headings "Forward-Looking Statements and Associated Risks" and "Risk Factors," which are incorporated herein by reference.
UROMED CORPORATION
CONDENSED STATEMENT OF OPERATIONS
(unaudited)
Three Months Ended Six Months Ended
June
30,
June 30,
2001
2000
2001 2000
(In thousands, except per share data)
Revenues
$ 1,519 $ 1,234 $
2,508 $ 2,235
Costs and expenses:
Cost of revenues
1,123 1,025
1,936 1,758
Research and
development
566
347
814 650
Marketing and
sales
1,020
648 1,669
1,279
General and
administrative
560
203
1,017 662
Amortization of
goodwill and
other intangible
assets
419
--
440 --
Restructuring
--
--
72 --
Total costs
and
expenses
3,688 2,223
5,948 4,349
Loss from operations
(2,169) (989)
(3,440) (2,114)
Interest
income
67
222
197 452
Interest expense
(251) (241)
(488) (520)
Loss before
extraordinary
gain on early
retirement of debt
(2,353) (1,008)
(3,731) (2,182)
Extraordinary gain
on early
retirement of debt
--
--
-- 1,259
Net
loss
$(2,353) $(1,008) $(3,731) $
(923)
Basic and diluted
per share amounts:
Loss before
extraordinary
gain on early
retirement
of
debt
$ (.32) $ (.19) $
(.59) $ (.42)
Extraordinary
gain on early
retirement of debt
--
--
-- 0.25
Net
loss
$ (.32) $ (.19) $
(.59) $ (.17)
Basic and diluted
weighted average
common shares
outstanding
7,321 5,177
6,326 5,164
UROMED CORPORATION
CONDENSED BALANCE SHEET
(unaudited)
June 30, Dec. 31,
2001 2000
(In thousands)
Assets
Current assets:
Cash and cash
equivalents
$ 2,754 $ 5,974
Marketable
securities
3,021 4,259
Accounts
receivable
1,174 654
Inventories
749 684
Prepaid expenses and other
assets
707 491
Total current
assets
8,405 12,062
Fixed assets,
net
270 54
Goodwill and other intangible assets,
net
7,253 --
Other
assets
1,438 1,552
-------- --------
$ 17,366 $ 13,668
Liabilities and Stockholders'
Deficit
Current liabilities:
Line of
credit
$ -- $ --
Capital
leases
32 --
Note payable to stockholder - current
portion
262 --
Accounts
payable
798 267
Accrued
expenses
1,438 989
Deferred
revenue
1,160 --
Total current
liabilities
3,690 1,256
Convertible subordinated
notes
14,393 14,393
Note payable to stockholder
- long-term
portion
210 --
Stockholders'
deficit
(927) (1,981)
-------- --------
$ 17,366 $ 13,668
CONTACT: UroMed
Corporation
d/b/a Alliant Medical Technologies
Domenic
Micale
Chief Financial
Officer
(781) 762-2080 ext.
247
dmicale@uromed.com
:=) Gary Swancey
(OTCBB:URMD.OB) Alliant Medical Technologies Announces Second Quarter 2001 Results
NORWOOD, Mass.--(BW HealthWire)--July 27, 2001--ALLIANT(TM) Medical Technologies today announced:
- Revenues of $1.5 million for the second quarter ended June 30, 2001, compared with $1.2 million for the same period in 2000.
- Revenues of $2.5 million for the six months ended June 30, 2001, compared with $2.2 million for the same period in 2000.
- Net loss before extraordinary items of $2.4 million, or $0.32 per share, for the second quarter ended June 30, 2001, compared with $1.0 million, or $0.19 per share, for the same period in 2000.
- Net loss before extraordinary items of $3.7 million, or $0.59 per share, for the six months ended June 30, 2001, compared with $2.2 million, or $0.42 per share, for the same period in 2000.
- Net loss of $2.4 million, or $0.32 per share, and $3.7 million, or $0.59 per share, for the three and six months ended June 30, 2001, respectively, compared with $1.0 million, or $0.19 per share, and $0.9 million or $0.17 per share for the same periods in 2000, respectively.
- Extraordinary items represent repurchases, at a discount, of a portion of the Company's Convertible Subordinated Notes.
COMPANY COMMENTS
Dan Muscatello, ALLIANT'S President and CEO commented, " Q2 2001 had more than a 50% top line increase from Q1 2001, primarily driven by software systems and support revenues as a result of our enhanced product offering since the late Q1 acquisition of SSGI Prowess, a leader in the cancer treatment planning market. The short-term bottom line effect on the newly combined UroMed and SSGI Prowess was in line with our expectations, and was largely a result of amortization charges of intangible assets recorded as part of the deal and an increased employee base in the sales, software development and customer support functions." Muscatello continued, "Our Q2 performance reflects the early stages of combining two companies' salesforces and product lines. We feel that our alignment of the organization's resources to support our increased market opportunity, customer base and strategic partnerships positions us well for future bottom line improvement."
"On July 20th we announced the signing of a multi-year distribution agreement with NOMOS Corporation to market its Intensity Modulated Radiation Therapy (IMRT) and other cancer treatment products to the radiation oncology marketplace.
IMRT is the fastest growing segment of the radiation therapy market and enjoys favorable reimbursement. With the addition of NOMOS' products, ALLIANT(TM) offers a comprehensive line of advanced radiation therapy products used in the treatment, planning and delivery of brachytherapy and external beam radiation therapy."
"This partnership is an important step for ALLIANT," continued Muscatello. "Our strategy of expanding our strategic partnerships to add critical mass is beginning to take shape. Our plan is to continue to be very selective in terms of who we partner with in order to offer products and services consistent with our mission of providing the highest quality products and services to our customers. NOMOS is an excellent company that has set the standard for IMRT industry wide. This distribution agreement allows ALLIANT to offer its customers a most unique suite of products for prostate cancer and other cancer treatment planning as well."
"In July, ALLIANT attended its first major trade show at the annual American Association of Physicists in Medicine (AAPM) conference in Salt Lake City, Utah. The combined product offering of Prowess Systems, Symmetra I-125 and NOMOS IMRT was well received by the radiation oncology community. This feedback confirms the Company's belief that the continued focus on key strategic partnerships will lead to broader market penetration."
COMPANY MISSION
ALLIANT's mission is to deliver stakeholder value by providing highly effective and efficient cancer treatment options that will improve both the longevity and quality of life for cancer patients around the world. Our organization's foundation is built on a solid technology base along with the integrity, commitment and respect of experienced team members.
We are focused on developing a deep understanding of our markets, listening closely to customers and establishing key strategic alliances that will lead to the development and distribution of products and services that are consistent with our core strategy and will ultimately deliver a return to our investors.
As always, the company plans to continue to dedicate resources to develop and/or acquire products that fit into its strategic platform.
On July 19, 2001, UroMed Corporation announced that it would change its name to "ALLIANT Medical Technologies", and until it receives formal stockholder approval it would do business under that name.
RISK FACTORS AND FORWARD-LOOKING STATEMENTS
The Company recognizes that the previous paragraphs contain forward-looking statements relating to the Company's future activities, including the benefits expected through the Company's combination with SSGI Prowess, the distribution agreement with NOMOS, the development and commercialization of the Company's product lines and the Company's anticipated improvement in operating performance and future growth. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control. Actual results could differ materially from these forward-looking statements as the result of certain risks, including the risk that the Company will not successfully manage the combination of the UroMed and SSGI Prowess businesses, that physicians will not use the Company's products in significant numbers, the risk that physicians using the Company's products will not develop into long-term users, the Company's ability to successfully reduce costs, the uncertainty of securing additional alliances, the uncertainty of general market acceptance of the Company's product lines, as well as the Company's dependence on these products going forward, and the risk that the Company will not be able to successfully develop any new products. There can be no assurance that these risks would not have a material adverse effect on the Company. Other relevant risks are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2000, under the headings "Forward-Looking Statements and Associated Risks" and "Risk Factors," which are incorporated herein by reference.
UROMED CORPORATION
CONDENSED STATEMENT OF OPERATIONS
(unaudited)
Three Months Ended Six Months Ended
June
30,
June 30,
2001
2000
2001 2000
(In thousands, except per share data)
Revenues
$ 1,519 $ 1,234 $
2,508 $ 2,235
Costs and expenses:
Cost of revenues
1,123 1,025
1,936 1,758
Research and
development
566
347
814 650
Marketing and
sales
1,020
648 1,669
1,279
General and
administrative
560
203
1,017 662
Amortization of
goodwill and
other intangible
assets
419
--
440 --
Restructuring
--
--
72 --
Total costs
and
expenses
3,688 2,223
5,948 4,349
Loss from operations
(2,169) (989)
(3,440) (2,114)
Interest
income
67
222
197 452
Interest expense
(251) (241)
(488) (520)
Loss before
extraordinary
gain on early
retirement of debt
(2,353) (1,008)
(3,731) (2,182)
Extraordinary gain
on early
retirement of debt
--
--
-- 1,259
Net
loss
$(2,353) $(1,008) $(3,731) $
(923)
Basic and diluted
per share amounts:
Loss before
extraordinary
gain on early
retirement
of
debt
$ (.32) $ (.19) $
(.59) $ (.42)
Extraordinary
gain on early
retirement of debt
--
--
-- 0.25
Net
loss
$ (.32) $ (.19) $
(.59) $ (.17)
Basic and diluted
weighted average
common shares
outstanding
7,321 5,177
6,326 5,164
UROMED CORPORATION
CONDENSED BALANCE SHEET
(unaudited)
June 30, Dec. 31,
2001 2000
(In thousands)
Assets
Current assets:
Cash and cash
equivalents
$ 2,754 $ 5,974
Marketable
securities
3,021 4,259
Accounts
receivable
1,174 654
Inventories
749 684
Prepaid expenses and other
assets
707 491
Total current
assets
8,405 12,062
Fixed assets,
net
270 54
Goodwill and other intangible assets,
net
7,253 --
Other
assets
1,438 1,552
-------- --------
$ 17,366 $ 13,668
Liabilities and Stockholders'
Deficit
Current liabilities:
Line of
credit
$ -- $ --
Capital
leases
32 --
Note payable to stockholder - current
portion
262 --
Accounts
payable
798 267
Accrued
expenses
1,438 989
Deferred
revenue
1,160 --
Total current
liabilities
3,690 1,256
Convertible subordinated
notes
14,393 14,393
Note payable to stockholder
- long-term
portion
210 --
Stockholders'
deficit
(927) (1,981)
-------- --------
$ 17,366 $ 13,668
CONTACT: UroMed
Corporation
d/b/a Alliant Medical Technologies
Domenic
Micale
Chief Financial
Officer
(781) 762-2080 ext.
247
dmicale@uromed.com
:=) Gary Swancey
(OTC Bulletin Board: GTSM) Galtech Finalizes Financing
PROVO, Utah, July 27 /PRNewswire/ -- Galtech Semiconductor Materials Corporation announced today that the Company has successfully acquired the bridge funding it needs for continued business development. While not at the level allowed in the recent SB2 filing the funding will be adequate to enable Galtech to continue the testing and growth of its semiconductor material for future commercial sale. In other action, the Company announced that it has secured a lease on a freestanding industrial facility and is in the process of moving material and equipment to this new location. The recently acquired funding will allow Galtech to take the next important and concrete steps toward production of semiconductor materials in the new facility. Mr. Kent Holt added, "the bridge funding agreement which has been finalized with Verity Partners, has the added benefit that it allows Galtech to also pursue additional sources of financing as needed under the current SB2 filing."
In other developments, with the recent increased awareness and interest in alternative and efficient energy related technology, the Company has entered ongoing discussions and negotiations with several interested companies to continued the research and commercial development of the Company's motor generator technology.
Mr. Holt added, "Galtech is encouraged and pleased with the changes that have been made over the last month as it progresses towards its business objectives. Galtech will continue its policy to communicate this progress to the stockholders and the financial community in a timely and regular manner."
This announcement contains forward-looking statements about Galtech Semiconductor Materials Corporation that involve risks and uncertainties. Important factors relating to the Company's operations could cause actual results to differ materially from those in forward-looking statements and are further detailed in filings with the Securities and Exchange Commission available at the SEC website (http://www.sec.gov). All forward-looking statements are based on information available to Galtech Semiconductor Materials Corporation on the date hereof, and Galtech Semiconductor Materials Corporation assumes no obligation to update such statements.
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SOURCE Galtech Semiconductor Materials Corporation
/CONTACT: William Tunnell of Galtech Semiconductor Material Corporation,
+1-623-825-2550/
:=) Gary Swancey
07/27 13:50 MPTV Announces WebCast of Shareholder Update For Friday, August 3, 2001,
at 5:00 p.m. ET -- 2 p.m. PT
IRVINE, Calif--(BUSINESS WIRE)--July 27, 2001--MPTV, Inc. (OTCBB:MPTV), an
innovator in Timeshare Resort Development, will hold a webcast to
update...
http://www.newsalert.com/bin/clipstry?StoryId=Co2dNqbKbytaXmtG&TopicName=OTCBBTEXT
:=) Gary Swancey
07/27 14:22 Massachusetts Fincorp Announces Increase in Second Quarter Earnings
QUINCY, Mass.--(BUSINESS WIRE)--July 27, 2001--Massachusetts Fincorp, Inc.
(OTCBB: MAFN) (the "Company"), the holding company for The
Massachusetts...
http://www.newsalert.com/bin/clipstry?StoryId=Co2dNqbKbytiYot&TopicName=OTCBBTEXT
:=) Gary Swancey
BioProgress Technology Appoints Dr. Carey Bottom Non-Executive Director
ATLANTA--(BW HealthWire)--July 27, 2001--BioProgress Technology International, Inc. ("BioProgress" or the "Company") (OTC BB: BPRG) today announced that Dr. Carey Bottom has accepted an invitation to join its Board of Directors with immediate effect.
Dr. Carey Bottom has been President and Chief Executive Officer of PharmaCore, Inc. since October 2000. Prior to this appointment, Dr. Bottom was Chief Operating Officer of LDS Technologies, Inc., a drug delivery company holding a significant proprietary position in microemulsion technology for enhancing the oral absorption of water-soluble drugs with low gastrointestinal permeability. The technology was particularly beneficial for enhancing the oral absorption of peptide actives such as desmopressin. A major drug delivery company acquired LDS Technologies in August, 2000. From 1994 to 1999, Dr. Bottom was Senior Vice President of R&D for Banner Pharmacaps, Inc., a company engaged in the development and manufacture of soft gelatin capsules for the drug and nutritional industries. His responsibilities at Banner included establishing and directing a comprehensive research operation for soft gelatin capsules as well as developing new business for the company. He has also held executive positions covering diverse areas of responsibilities including quality control, regulatory affairs, compliance, and analytical chemistry for Schering-Plough, Chase Pharmaceutical Company, Marion Laboratories and the Drackett Company, a division of Bristol-Myers.
Dr. Bottom obtained his Ph.D. in Chemistry from the University of Missouri-Rolla having also earned his M.S. and B.S. degrees from the same institution. He has authored or co-authored numerous scientific papers or book chapters covering diverse areas such as natural products, carbohydrates, analytical chemistry, dissolution technology, transdermal delivery and pharmacokinetics. In addition, he also holds several patents covering pharmaceutical preparations and household products. In 1998, Dr. Bottom received the FDA Commissioner's Special Citation for his cooperative research efforts with the Agency on gelatin capsule dissolution. This work led to the implementation of a compendial two-tier dissolution testing procedure for gelatin capsules.
"I am very pleased to announce the appointment of Dr. Bottom to the Company's Board of Directors," said Barry J. Muncaster, Chairman and Chief Executive. "Dr. Bottom is held in high regard by his peers across all sectors of the industry. His quite exceptional knowledge and experience of the global encapsulation industry, at senior levels in both technical and commercial disciplines, will prove extremely valuable as the Company proceeds with the introduction of its unique technology to major corporations. We are privileged to welcome him to our team."
About BioProgress
Following four years of research and development, BioProgress is emerging from its developmental stage. The Company is dedicated to commercializing its intellectual property in the field of water-soluble and biodegradable films and processes for their inclusion in high volume mass-market products through its proprietary XGel(TM) Film System. The XGel(TM) Film System is the world's first animal-free soft capsule process. The patented process eliminates the use of gelatin, which is a protein derived from animal renderings. Since the mid-1930s, gelatin has been the only material suitable for encapsulating non-aqueous products such as vitamin oils (dietary supplements), pharmaceuticals and cosmetic oils. The Company believes its XGel(TM) Film System is a revolutionary step in eliminating animal by-products from ingestible products used to deliver pharmaceuticals and dietary supplements, and on a cost-efficient basis compared to traditional methods.
Last year BioProgress executed agreements in respect of a specific application of its XGel(TM) Film System with The Procter & Gamble Company, Brass Eagle, Inc. and announced the sale of the first full XGel(TM) Film System License and XGel(TM) Film System to Peter Black Healthcare, the UK's leading producer of vitamin, herb and mineral supplements. Further, the Company announced it had executed Product Development Agreements with The Boots Company plc and with Nestle. Earlier this year the Company announced it had received orders from two U.S. based pharmaceutical companies for a laboratory scale version of its XGel(TM) Film System. On July 12 this year, the Company announced the sale of an XGel(TM) Film System and ancillary services to Farmasierra S.A., a highly regarded and rapidly expanding pharmaceutical company based in Madrid. The Company continues to work with major international corporations engaged in pharmaceuticals, consumer durables and food products to determine the suitability of the XGel(TM) Film System to replace traditional encapsulation processes and, in some cases, to facilitate new product development not possible with competitive technologies.
BioProgress is a fully reporting company having its ordinary shares quoted on the NASD OTC Bulletin Board (symbol BPRG). The Company's web site can be viewed at www.bioprogress.com
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67 and provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expects," and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
CONTACT: BioProgress Technology International, Inc.
Investor inquiries
USA
Larry C. Shattles, 770/649-1133
lcs@bioprogress.com
or
Rest of the World
Barry J. Muncaster, (+44) 1354 655674
bjm@bioprogress.com
or
Media inquiries
USA
Cookerly Public Relations
Neil Hirsch, 404/816-2037
neil@cookerly.com
or
Rest of the World
Sarah Cliss, (+44) 1354 655674
sarahcliss@bioprogress.com
:=) Gary Swancey
07/27 14:22 Massachusetts Fincorp Announces Increase in Second Quarter Earnings
QUINCY, Mass.--(BUSINESS WIRE)--July 27, 2001--Massachusetts Fincorp, Inc.
(OTCBB: MAFN) (the "Company"), the holding company for The
Massachusetts...
http://www.newsalert.com/bin/clipstry?StoryId=Co2dNqbKbytiYot&TopicName=OTCBBTEXT
:=) Gary Swancey
07/27 13:00 Shells Seafood Restaurants, Inc. Reports Second Quarter Results and Actions Taken to Refocus Chain
TAMPA, Fla., July 27 /PRNewswire/ -- Shells Seafood Restaurants, Inc. (OTC Bulletin Board: SHLL) today reported net income for the second quarter...
http://www.newsalert.com/bin/clipstry?StoryId=Co2dNqbWbrKXgmdaZ&TopicName=OTCBBTEXT
:=) Gary Swancey
(OTC Bulletin Board: RACE) IP AXESS Announces Examination Agreement With an Agency of the Federal
Government
PLANO, Texas, July 13 /PRNewswire/ -- IP AXESS announced today that the Company had executed a Hardware/Software/Services
Examination Agreement with an agency of the Federal Government. Under the
terms of this agreement, the Agency will initiate a 90-day trial of the
VocalWare IP(TM) product with 10 to 12 its employees. This agreement does not
imply or commit the agency of the Federal Government to any acquisition as a
result of this examination, nor does it imply acceptance or affirmation of the
Company's software.
ABOUT IP AXESS
DATA RACE, Inc. is currently doing business as IP AXESS. At the annual
meeting held on November 9, 2000, the shareholders approved the formal change
of the corporate name to IP AXESS, Inc. Based in Plano, Tex., with an office
in San Antonio, IP AXESS ( www.ipaxess.com ) provides integrated, IP-based,
remote-work solutions over multiple access media. The company's VocalWare
product line provides out-of-the-office employees with simultaneous access to
the company phones, fax, Internet, and e-mail over a single connection,
whether it's xDSL, cable modem, LAN, frame relay, ATM or high-speed dial-up
through VPN, local ISP POP, or PSTN. VocalWare's primary markets are
telecommuters, who can establish a virtual office presence with just one phone
call, and call centers that use VocalWare to connect part-time workers to
incoming calls and corporate databases simultaneously over a single line.
Risks Regarding Forward-Looking Statements
This press release contains various "forward-looking statements" which
represent the Company's expectations or beliefs concerning future events.
These forward-looking statements involve numerous risks, uncertainties and
assumptions, and actual results could differ materially from anticipated
results. There can be no assurance as to the amount or timing of revenue from
this announcement. The Company's ability to commercialize its technology is
subject to numerous risks, including lack of adequate capital, new or
increased competition from companies with greater resources that the Company
and the inability to resolve technical issues or overcome other development
obstacles. These risks and others are set forth in the Company's SEC filings,
including its Form 10-K for fiscal 2000 and the Form 10-Q for the quarters
ended September 30, 2000, December 31,2000 and March 31, 2001.
DATA RACE and the DATA RACE logo are trademarks of DATA RACE, Inc.
registered in the U.S. Patent and Trademark Office.
IP AXESS, the IP AXESS logo, VocalWare, VocalWare RealPhone, Telepresence
and Flexwork are trademarks of DATA RACE, Inc.
COMPANY James G. Scogin, Acting President, IP AXESS
CONTACTS: (972) 265-4000
:=) Gary Swancey
(OTCBB:ABRX), Able Laboratories Receives FDA Approval for Prochlorperazine Suppositories USP,
2.5 Mg, 5 Mg and 25 Mg
Business Editors/Health & Medical Writers
SOUTH PLAINFIELD, N.J.--(BUSINESS WIRE)--July 13, 2001--
-- The Only Company to Offer Generic Version of
Compazine(R) in All Three Strengths --
Able Laboratories, Inc. today announced it has
received Food and Drug Administration (FDA) approval for its
Abbreviated New Drug Application (ANDA) for Prochlorperazine
suppositories USP, 2.5 mg, 5 mg and 25 mg. The approval followed the
FDA's Division of Bioequivalence's determination that Able's
Prochlorperazine suppositories USP, 2.5 mg, 5 mg and 25 mg, are
bioequivalent and, therefore, therapeutically equivalent to the
Compazine(R) suppositories 2.5 mg, 5 mg and 25 mg of Smithkline
Beecham Pharmaceuticals. The generic market for Able's newly approved
drug, a suppository used primarily to treat severe nausea and
vomiting, is estimated to be $18 million by IMS Data.
"Suppositories are challenging formulations and we are extremely
pleased to have developed the technology and experience to formulate
these types of dosage forms," commented Jay Wadekar, President and
Chief Operating Officer of Able Laboratories, Inc. "One of our
research and development strategies is to focus on specific areas that
utilizes our technological expertise and will produce products that
possess high margins. Our new approval fits perfectly in this niche."
"We are extremely pleased to receive our second FDA approval in
two days," stated C. Robert Cusick, Chairman and Chief Executive
Officer of Able Laboratories, Inc. "Today's announcement follows our
receipt yesterday of FDA approval for our generic version of
Darvocet-N(R). In addition, we have now obtained ANDA approvals for
generic versions of Ritalin SR(R), Ritalin(R), Lomotil(R), Soma(R) and
Darvocet-N(R) and one New Drug Application (NDA) approval. The total
market for our recently approved products is estimated at $1.2 billion
by IMS Data. Additionally, we currently have eight ANDAs pending
approval, several of which we anticipate within the next few months."
Able Laboratories (OTCBB:ABRX) is a rapidly growing developer and
manufacturer of generic pharmaceuticals. Able's focus is to develop
products that offer attractive market opportunities within selected
niche markets of the generic drug industry. In addition to the one new
drug application approval that the company recently received, it has
obtained seven ANDA approvals and has several ANDAs in various stages
of FDA approval. Able has recently completed its transition to focus
the company's activities solely on generic drug development,
manufacturing and sales by divesting its distribution subsidiaries.
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking Statements. Certain information
included in this news release (as well as information included in oral
statements or other written statements made or to be made by Able
Laboratories, Inc. f/k/a DynaGen, Inc.) contain statements that are
forward-looking, such statements relate to anticipated future revenues
of the company success of current product offerings, research and
development efforts and the timeliness of Food and Drug Administration
(FDA) filings and approvals. There is no assurance that the company
will achieve the sales levels that will make the operation profitable
or that FDA filings and approvals will be completed as anticipated.
Such forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results in
the future and accordingly, such results may differ materially from
those expressed in any forward-looking statements made by or on behalf
of Able Laboratories, Inc. f/k/a DynaGen, Inc. For a description of
additional risks, and uncertainties, please refer to Able
Laboratories, Inc. f/k/a DynaGen, Inc. filings with the Securities and
Exchange Commission, including Forms 10 -KSB and 10-Q.
Compazine is a registered trademark of Smithkline Beecham
Pharmaceuticals.
Darvocet-N is a registered trademark of Eli Lilly.
Lomotil is a registered trademark of G. D. Searle
Ritalin and Ritalin SR are registered trademarks of Novartis
Soma is a registered trademark of Wallace Laboratories
--30--cp/mi*
CONTACT: Able Laboratories, Inc., South Plainfield
Catherine M. Frost, 978/282-0065
or
Investor Relations, Inc.
Gary Frank, 386/409-0200
:=) Gary Swancey
(NADSAQ: ADSX)-Subsidiary Awarded $12 Million Contract With D.C.
Public Schools
Business Editors/High Tech Writers
PALM BEACH, Fla.--(BUSINESS WIRE)--July 13, 2001--
Award value may approach $45,000,000; Program "demonstrates the
unique ability...to coordinate the roll-out of a high visibility
program utilizing the newest cabling and equipment technology"
Applied Digital Solutions, Inc. , a leader in
information technology and solutions, today announced that its
subsidiary, Government Telecommunications, Inc. ("GTI"), has been
awarded a contract with the District of Columbia Public Schools valued
at $12 million.
The potential value for this award may approach $45 million with
an anticipated completion date of September 30, 2002. The order is for
wiring and network infrastructure at all of the District's public
schools.
Mercedes Walton, President and COO of Applied Digital Solutions,
commented on the contract: "We are very pleased to have secured this
high visibility government sector contract with the District of
Columbia Public Schools. This award to GTI represents a significant
achievement in its marketing plan to provide total network
infrastructure service support to government customers nationwide.
This particular program demonstrates the unique ability of GTI to
coordinate the roll-out of a high visibility program utilizing the
newest cabling and equipment technology including Category 5E copper
cabling, high speed fiber optic interconnectivity and state-of-the-art
network hardware from technology companies like CISCO."
About Applied Digital Solutions, Inc.
Applied Digital Solutions is an information technology and
solutions company operating on the I3 Services Platform - Intelligent
Integrated Information Services. Through our core business units
(Applications, Services and Advanced Wireless), Applied Digital
Solutions offers products and services for the collection,
organization, analysis, warehousing and dissemination of information
for a wide variety of end users including commercial operations,
government agencies and consumers. For more information, visit the
company's website at http://www.adsx.com .
Statements about the Company's future expectations, including
future revenues and earnings, and all other statements in this press
release other than historical facts are 'forward-looking statements'
within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934, and as that term
is defined in the Private Litigation Reform Act of 1995. The Company
intends that such forward-looking statements involve risks and
uncertainties and are subject to change at any time, and the Company's
actual results could differ materially from expected results. The
Company undertakes no obligation to update forward-looking statements
to reflect subsequently occurring events or circumstances.
:=) Gary Swancey
(Nasdaq: PACW), John K. La Rue to Assume New Role at Pac-West Telecomm, Inc.
STOCKTON, Calif., July 13 /PRNewswire/ --
Pac-West Telecomm, Inc. a rapidly growing provider of
integrated communications services to business customers and Internet service
providers (ISPs) in the western U.S., today announced a revised role for
John La Rue, Pac-West's founder and executive vice president of network
operations.
La Rue will be transitioning his efforts from the network management
operational role to focus on network efficiency and product revenue generating
efforts. As such, La Rue will be relinquishing his executive vice president
title and full-time officer responsibilities, but will remain actively
involved with Pac-West on a part-time basis, maintaining the position of vice
president and member of Pac-West's board of directors.
"Now is the appropriate time for me to focus my energies at Pac-West on
increasing revenues and maximizing profits, while at the same time taking the
opportunity to pursue other personal interests," said La Rue. "Pac-West has a
legacy of creating unique and profitable telecommunications solutions, and I'm
as committed today as I was when I started the company 21 years ago to
ensuring that Pac-West continues to achieve these goals as it grows."
Wally Griffin, Pac-West's CEO and chairman of the board of directors,
said," I can't overstate our appreciation to John for his significant
contributions to Pac-West, as both the founder of the privately held company
for 18 years, as well as a driving force in our formative years as a public
company. Pac-West is very privileged to have its founder continue in such an
active role. This is a natural step in John's career, and in the evolution of
Pac-West to maximize John's vast industry experience in a more visionary role,
while consolidating all operations under Hank Carabelli, our recently
announced president and COO."
About Pac-West Telecomm, Inc.
Founded in 1980, Pac-West Telecomm, Inc. is a rapidly growing provider of
integrated communications services throughout the western U.S. Pac-West
supplies Internet infrastructure and broadband services to Internet service
providers (ISPs), and integrated voice, data and Internet services to small
and medium-sized businesses. The company currently has operations in
California, Nevada, Washington, Colorado, Utah, Arizona, and Oregon. Pac-West
is a Safeguard Scientifics (NYSE: SFE) partner company. For more information,
please visit the company's web site at www.pacwest.com.
Forward-Looking Statements
The foregoing discussion contains forward-looking statements. The
Company's future performance is subject to numerous risks and uncertainties
that could cause actual results to deviate substantially from those discussed
in these forward-looking statements. Factors that could impact the
variability of future results include: successful execution of the Company's
expansion activities into new geographic markets on a timely and
cost-effective basis; the pace at which new competitors enter the Company's
existing and planned markets; competitive responses of the Incumbent Local
Exchange Carriers; execution of interconnection agreements with Incumbent
Local Exchange Carriers on terms satisfactory to the Company; maintenance of
the Company's supply agreements for transmission facilities; continued
acceptance of the Company's services by new and existing customers; the
outcome of legal and regulatory proceedings regarding reciprocal compensation
for Internet-related calls and certain of the Company's product offerings; the
ability to attract and retain talented employees; and the Company's ability to
successfully access markets, install switching electronics, and obtain the use
of leased fiber transport facilities and any required governmental
authorizations, franchises and permits, all in a timely manner, at reasonable
costs and on satisfactory terms and conditions, as well as regulatory,
legislative and judicial developments that could cause actual results to
differ materially from the future results indicated, expressed or implied, in
such forward-looking statements. These and other factors are discussed in the
Company's Prospectus dated November 3, 1999, and in its Annual Report as of
December 31, 2000 on Form 10-K as filed with the SEC.
:=) Gary Swancey
Earnings Spark Sharp Tech Rebound
New York, Jul 12, 2001 (123Jump via COMTEX) -- Tech stocks hung onto an early
gap higher Thursday, as investors snapped up beaten-down issues.
The Nasdaq Composite Index hurdled back over the psychologically important 2000
level, surging 83.80, or 4.2%, to 2055.84. The big-cap Nasdaq-100 Index climbed
85.97, or 5.2%, to 1727.53.
At noon, market internals on Nasdaq showed the number of advancing issues more
than doubling decliners and up-volume accounting for roughly 85% of trading.
Among the most-actively traded issues today:
Networking giant Cisco Systems (CSCO) added 87 cents, or more than 5%, to 17.57.
Software titan Microsoft (MSFT) jumped 4.39, or nearly 7%, to 70.89.
Semiconductor giant Intel (INTC) rallied 1.62, or nearly 6%, to 29.68.
Networking-computer maker Sun Microsystems (SUNW) rose 91 cents, or 6.5%, to
14.89.
Microsoft was key to today's rally, as the tech bellwether pre-announced 3%
higher-than-expected fiscal fourth-quarter revenues - between $6.5 billion and
$6.6 billion - and forecast operations would fall in line with expectations.
Wall Street's consensus earnings estimate was 42 cents per share.
However, the company said it would record $2.6 billion in investment losses,
dragging its bottom line down to a penny per share.
In addition, Microsoft announced yesterday plans to change its licensing
agreements with computer makers and allow them to remove Microsoft icons from
products using its Windows operating system and add those from other technology
companies, such as RealNetworks (RNWK) or AOL Time Warner (AOL).
Previous licensing agreements prohibited manufacturers from changing the desktop
in any way. The move comes in response to a recent court ruling that confirmed
Microsoft's competitive practices broke antitrust laws.
Software makers Oracle (ORCL), SAP (SAP), Siebel Systems (SEBL), PeopleSoft
(PSFT), TIBCO Software (TIBX), BEA Systems (BEAS) and Vignette (VIGN) also
posted impressive gains.
In the chip sector, the closely watched Philadelphia Semiconductor Index surged
35.53, or 6.4%, to 593.50, with components Teradyne (TER), Texas Instruments
(TXN), Linear Technology (LLTC) and Advanced Micro Devices (AMD) recording 9%
advances.
Communications chip makers posted even sharper rallies. Vitesse Semiconductor
(VTSS) jumped 2.76, or 17%, to 18.87; TriQuint Semiconductor (TQNT) surged 3.13,
or more than 18%, to 3.13; PMC-Sierra (PMCS) rallied 3.11, or more than 12%, to
28.60 and TranSwitch (TXCC) climbed 96 cents, or 12%, to 8.96.
Cisco's gains came after the networker announced its first acquisition of the
year - a purchase of networking chip designer AuroraNetics for about $150
million in stock.
The networking sector powered ahead following encouraging earnings reports from
Redback Networks (RBAK) and Sonus Networks (SONS). CIENA (CIEN), Lucent
Technologies (LU), JDS Uniphase (JDSU) and ONI Systems (ONIS) all rose sharply
in the wake.
Earnings Reports
Shares of Redback edged up 19 cents, or 3%, to 6.72, after the company checked
in late yesterday with a second-quarter pro-forma loss of $37 million, or 26
cents per share, excluding charges - ahead of the analysts' consensus loss
estimate of 29 cents per share.
Quarterly revenue for the company was $59.4 million, up from $48.7 million a
year ago.
Shares of Sonus surged 3.71, or nearly 20%, to 22.64, after the phone-network
equipment maker posted a second-quarter profit of $1.2 million, or a penny per
share, excluding items - bettering the Street's expectation of a break-even
result.
Second-quarter revenue grew 27% year-over-year to $52.6 million.
Separately, Sonus signed BellSouth (BLS) to a deal that Prudential estimates
will translate into $3 million to $5 million in revenue for the fourth quarter.
Shares of Internet media giant Yahoo! (YHOO) climbed 1.11, or more than 6%, to
18.14, after the company reported better-than-expected sales of $182.2 million,
versus $175.1 million, and reiterated earnings guidance for the third quarter
and fiscal 2001.
Yahoo!'s bottom line for the quarter was a profit of $8.7 million, or a penny
per share, versus a break-even result anticipated by the Street.
As a group, the 50-stock Amex Internet Index jumped 9.06, or 5.5%, to 173.90,
led by Inktomi (INKT), up 11.33, or more than 19%, to 8.18, and Ariba (ARBA), up
73 cents, or 15%, to 5.65.
Motorola (MOT), chip maker and the No. 2 supplier of mobile phones, reported a
second-quarter loss of $232 million, or 11 cents per diluted share, excluding
special items, compared with a year-ago profit of $551 million, or 25 cents per
share. Analysts had a consensus loss estimate of 12 cents per share.
Revenue for the quarter dropped 19% to $7.5 billion - well below Wall Street's
sales estimate of $8.3 billion - the company blamed the shortfall on weakness in
the telecom and semiconductor industries.
Shares of Motorola surged 2.18, or 14%, to 17.85, on hopes that its handset
business has stabilized and that earnings have bottomed.
Handset rivals Nokia (NOK) and LM Ericsson (ERICY) posted modest gains, despite
the possibility of Motorola growing its market share.
:=) Gary Swancey
OTC Bulletin Board: KING - King Resources Announces Major Capitalization Change
GULFPORT, Miss., July 12 /PRNewswire/ --
King Resources, Inc. (), www.kingresources.com ,
announced this morning that Norris R. Harris, President and Chairman of the
Board of the company, plans to personally purchase 32,500,000 shares of the
company's common stock from Gator Resources LLC. Immediately after the
closing of this transaction, scheduled to take place prior to July 31, 2001,
Mr. Harris will return the 32,500,000 shares of common stock to the company's
treasury stock. This is a reduction in outstanding stock of forty percent and
leaves 40,939,804 shares outstanding.
Mr. Harris stated, "I am purchasing this stock to be returned to the
treasury for the benefit of our valued shareholders who have stayed with the
company during the rebuilding process. A reduction in the number of
outstanding shares of this magnitude will greatly increase the potential
earnings per share."
King Resources, Inc., is in the business of exploration and production of
oil and natural gas in the continental United States, Australia and West
Africa.
This press release contains forward looking statements, such as future
development activity. KING notes that there are a variety of factors that
could cause the actual results to differ materially from the anticipated
results expressed.
:=) Gary Swancey
(Nasdaq:ADSX), Mercedes Walton, President and Chief Operating Officer, Offers a Candid
Perspective On the State of ADSX
Business Editors & High-Tech Writers
PALM BEACH, Fla.--(BUSINESS WIRE)--July 12, 2001--
Applied Digital Solutions "will re-deploy assets and intensify
plans to establish our Advanced Wireless Unit as the
foundation for a sound and profitable future."
"...the pathway for ADSX is precisely focused on an
expansive landscape of abundant opportunity."
Mercedes Walton, president and chief operating officer of Applied
Digital Solutions Inc. a leader in information
technology and solutions, today announced, "In view of our undervalued
market position, I am compelled to provide our loyal shareholders who
have patiently stood by us during a significant and often turbulent
transformation, with my candid perspective on the state of our
business.
"Since the beginning of 2001, ADSX has undergone radical changes
to refocus the enterprise. Our strategic imperatives have been clear
and consistent. We committed to deliver strong and sustainable
earnings from the core business, while driving growth from the
Advanced Wireless Unit.
"Despite formidable challenges that include dismal economic
realities affecting the IT sector and efforts to fund new product
development amidst softened capital markets, ADSX reaffirms its
commitment to deliver the value our shareholders so well deserve.
"In the face of such forces beyond our control, we have
accelerated the strategy to accomplish our goals. As a first step, we
are renegotiating our credit agreement to restructure debt. These
negotiations are driven by a shared belief and commitment to the
market potential of Digital Angel. Secondly, we will re-deploy assets
and intensify plans to establish our Advanced Wireless Unit as the
foundation for a sound and profitable future.
"The magnitude of our strategic direction is underscored by the
substantial time and effort we have invested in repositioning Applied
Digital Solutions. Year-to-date performance for the Advanced Wireless
Unit remains strong. As we conclude our self-imposed quiet period and
begin to announce strategic partnerships for Digital Angel, it will
become apparent that the pathway for ADSX is precisely focused on an
expansive landscape of abundant opportunity."
About Digital Angel
Digital Angel(TM) represents the first-ever combination of
advanced biosensor technology and Web-enabled wireless
telecommunications linked to Global Positioning Systems (GPS). By
utilizing advanced biosensor capabilities, Digital Angel will be able
to monitor key body functions -- such as temperature and pulse -- and
transmit that data, along with accurate location information, to a
ground station or monitoring facility. Digital Angel will be able to
tap into an addressable North American marketplace estimated to exceed
$70 billion. Applied Digital Solutions is exploring a wide range of
potential applications for Digital Angel, including: monitoring the
location and medical condition of at-risk patients; locating lost or
missing individuals; locating missing or stolen household pets;
managing livestock and other farm-related animals; pinpointing the
location of valuable stolen property; managing the commodity supply
chain; preventing the unauthorized use of firearms; and providing a
tamper-proof means of identification for enhanced e-commerce security.
For more information or to reserve Digital Angel service, visit
www.digitalangel.net
About Applied Digital Solutions Inc.
Applied Digital Solutions is an information technology and
solutions company operating on the I3 Services Platform -- Intelligent
Integrated Information Services. Through our core business units
(Applications, Services and Advanced Wireless), Applied Digital
Solutions offers -- products and services for the collection,
organization, analysis, warehousing and dissemination of information
for a wide variety of end users including commercial operations,
government agencies and consumers. For more information, visit the
company's Web site at http://www.adsx.com.
Statements about the company's future expectations, including
future revenues and earnings, and all other statements in this press
release other than historical facts are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934, and as that term
is defined in the Private Litigation Reform Act of 1995. The company
intends that such forward-looking statements involve risks and
uncertainties and are subject to change at any time, and the company's
actual results could differ materially from expected results. The
company undertakes no obligation to update forward-looking statements
to reflect subsequently occurring events or circumstances.
--30--HM/ho*
CONTACT: ADS Investor Relations
Robert Jackson, 561/805-8042
Fax: 561/805-8002
rjackson@adsx.com
:=) Gary Swancey
(Nasdaq: WONE) - Wire One Technologies and Telseon in Co-Marketing Agreement
HILLSIDE, N.J., July 12 /PRNewswire/ --
Wire One Technologies, Inc. today announced it has entered into
a co-marketing agreement with Telseon, Inc., a leading metropolitan optical
network provider. The agreement is designed primarily to help Wire One expand
the national reach of its Glowpoint IP video communications network without
any associated capital expenditure.
Under the agreement, Wire One will Glowpoint-enable Telseon's Gigabit
Ethernet network, giving Telseon's network customers -- which include leading
ISPs and other service providers -- access to all Glowpoint endpoints and
applications, including bridges for multi-point video calls, gateways for
calls to legacy ISDN systems, and remote call management. Telseon customers
will have the opportunity to resell the Glowpoint service to end user
companies and organizations in some 20 major U.S. metropolitan markets,
including Atlanta, Chicago, Cincinnati, Dallas, Denver, Detroit, Los Angeles,
Miami, New York, Northern Virginia, Orlando, Philadelphia, Phoenix, San Diego,
San Francisco Bay Area, Seattle, Silicon Valley, St. Louis and Tampa.
In turn, Wire One will offer Telseon's Gigabit Ethernet service to
customers requiring connectivity to the Glowpoint network. This Telseon
service, which provides reduced-cost, instantly scalable and secure bandwidth
of from 1 to 1,000 Mbps in seconds, will enable Wire One customers to
architect cost-effective local access solutions in those same major U.S.
metropolitan areas.
Richard Reiss, Wire One president and chief executive officer, said, "We
are very encouraged by this agreement. Telseon's expansive service provider
footprint will speed the delivery of Glowpoint to new users, furthering our
goal of ultimately making Glowpoint the nation's recognized central network
for IP video communications."
John Kane, chief executive officer, Telseon, said, "We look forward to
providing Wire One customers with the most advanced, accessible,
high-bandwidth connection solutions available in the world today."
Wire One Technologies, Inc. is a leading full-service provider of a
complete range of video communications solutions, including Glowpoint, the
first IP-based network dedicated to video communications. The company, which
is the first video communications provider to receive Frost & Sullivan's
Market Engineering Service Innovation Award, is a leading integrator for major
video and voice communications manufacturers, including Accord
Telecommunications, Cisco Systems, PictureTel Corporation, Polycom, Inc.,
RADVision, VCON and VTEL. The Glowpoint network utilizes an IP backbone and
achieves last mile connectivity through a variety of solutions, including DSL,
T1 and Optical Ethernet. Wire One's current customer base includes more than
2,500 companies with approximately 13,000 videoconferencing endpoints in the
commercial, federal and state government, medical and education marketplaces
nationwide and across the globe.
The statements contained herein, other than historical information, are or
may be deemed to be forward-looking statements and involve factors, risks and
uncertainties that may cause actual results in future periods to differ
materially from such statements. These factors, risks and uncertainties
include market acceptance and availability of new products and services; the
nonexclusive and terminable-at-will nature of reseller agreements with
manufacturers; rapid technological change affecting products and services; the
impact of competitive products and services, as well as competition from other
resellers and service providers; possible delays in the shipment of new
products; and the availability of sufficient financial resources to enable the
Company to expand its operations and other risks detailed from time to time in
the Company's filings with the Securities and Exchange Commission.
Wire One is a trademark and Glowpoint is a service mark of Wire One
Technologies, Inc. in the United States. All other trademarks recognized.
:=) Gary Swancey
(NASDAQ: AUTH), Authoriszor Inc. Announces New Authoriszor 2000 Access Management Product;
Version 3.0 Designed to Enhance Scalability, Performance and Ease-Of-Use
Business/Technology Editors
BURLINGTON, Mass.--(BUSINESS WIRE)--July 12, 2001--Authoriszor
Inc. a leading-edge provider of integrated secure
access management solutions, today announced availability of Version
3.0 of its access management product, Authoriszor 2000(TM). Version
3.0 of the Authoriszor 2000(TM) product substantially improves
scalability, performance and ease-of-use for customers securing
web-based applications and business processes.
"High-level security has always been at the core of the
Authoriszor product offering. This version of Authoriszor 2000(TM)
delivers significant improvements in ease of use, scalability and
performance and enables us more vigorously to pursue our strategy of
selling secure, end-to-end e-business solutions to the broad range of
markets that require fully integrated secure access management
solutions," said Paul Ayres, Authoriszor's Chief Executive Officer.
"This latest version also takes the product aggressively into a
market segment that analysts have identified as particularly fertile,"
Mr. Ayres said, noting that Forrester Research, in an article entitled
Sizing the Security Market for October 2000, projected a better than
39 percent growth rate in access management product and service sales
over the next four years, or fully 25 percent of all security
expenditures. Mr. Ayres further noted that the Forrester report
concluded that total security expenditures in the United States alone
were projected to be more than $19 billion by 2004.
"Authoriszor's advanced technology coupled with its total solution
lifecycle service portfolio positions us to compete effectively in
that growing market," Mr. Ayres said.
New features include:
--Virtual Client functionality - Authoriszor's new Virtual Client
is designed to provide a level of trust in environments that demand
greater flexibility, without the need for client side software.
--Personalized applications - User profile information can be fed
into web-based applications to create a personalized experience based
upon user characteristics.
--Enhanced Management - Delegated management feature is designed
to prevent IT from becoming a bottleneck to efficient business
process.
--Enhanced Scalability - Distributed architecture is designed to
increase speed, thereby maintaining the efficiency of web-enabled
business process.
--Browser Independence - Authoriszor's ePCI client software is now
browser independent, distributable via download or email, and can
incorporate additional plug-ins to enhance functionality.
--Broader product support - Version 3.0 will support Microsoft SQL
Server v.7.0 and Oracle 8i, accessible via industry standard ODBC.
The version 3.0 product is currently installed in a number of key
client sites for beta testing. Full release of the product is
scheduled for early August 2001. It will be sold through the
Authoriszor Solutions division.
About Authoriszor Inc.
Authoriszor Inc. is a leading-edge provider of integrated security
solutions. Authoriszor provides audits, assessments, product
integration, and managed services for a wide range of organizations.
Leveraging a skilled team of security experts and high-quality
security technologies, the Authoriszor solution is designed to ensure
organizations confidentiality, availability and integrity of their
information infrastructure. Founded in 1997 by IT engineers,
Authoriszor continues to evolve its security practices through
progressive, leading-edge competencies in security products and
development. Authoriszor's patent-pending technology focuses on
providing multiple levels of information security, while maintaining
the openness of the Internet. For more information about Authoriszor,
visit www.authoriszor.com.
About WRDC
WRDC, a subsidiary of Authoriszor, Inc., is a European
communication consultancy specializing in information security,
directory services and messaging solutions. WRDC provides end-to-end
secure architecture based on security, access based control and
directory technologies. Its skill base includes familiarity with a
range of security products including Authoriszor, and experience in
installing them. Clients include banks and financial services
companies, leading industrial corporations, and government
organizations. WRDC maintains offices in London, Leeds, and Zurich.
For more information about WRDC, visit www.WRDC.com.
About Logsys Solutions
Logsys Solutions, also a subsidiary of Authoriszor, Inc., is a
European software house developing e-business and Business Process
Automation Systems. Logsys has a great deal of experience in workflow
applications development specializing in government IT applications.
Clients include government organizations, the Royal Navy, Royal
Airforce and police forces, plus a number of private sector financial
and IT companies. For more information about Logsys, visit
www.logsys.co.uk.
Authoriszor, Authoriszor 2000, SZ logo, A Logo and "Secures the
Web" are trademarks or registered trademarks of Authoriszor Inc. or
its wholly owned subsidiary, Authoriszor Ltd., in the United States,
UK and other countries.
This press release contains forward-looking statements. Actual
results may differ materially from those projected in the
forward-looking statements. These statements are based on current
expectations of Authoriszor and are subject to risks and uncertainties
that may cause actual results to be materially different from those
that may be implied by such forward-looking statements contained in
this press release. Important factors that could result in such
differences include: general economic conditions in Authoriszor's
markets; those factors identified in Authoriszor's Form 10-QSB, for
the quarter ending March 31, 2001 including without limitation, those
factors identified as risk factors in Authoriszor's Prospectus, dated
May 19, 2000, as supplemented, those factors identified in subsequent
filings with the Securities and Exchange Commission and other factors
that may affect business generally.
--30--el/bos*
CONTACT: Authoriszor Inc. (United Kingdom)
Barry Jones
44-1423-701-437
barry.jones@authoriszor.com
or
RDW Group Inc. (USA)
Tracy Mansolillo
401-521-2700 ext. 156
tmansolillo@rdwgroup.com
:=) Gary Swancey
OTCBB:CMKI - 10-1 Forward split Effective Date
Business Editors & High Tech Writers
TORONTO--(BUSINESS WIRE)--July 12, 2001--The Cyber Mark
International Corp. (OTCBB:CMKI) annual share holders meeting
has was held on July 11, 2001.
Share holders approved to amend the articles of the corporation in
order to increase the number of authorized shares. The company is now
in a position to implement the 10-1 forward split.
Shares owned as of July 19, 2001 will qualify to receive 10 (ten)
shares to every 1 (one) share owned at that date.
For further information contact Joseph Byck-Vice President at
1-800-374-9506, ext 29.
Except for any historical information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risk and uncertainties, which are Described in
Cyber Mark's SEC reports, including the 10-KSB for the period ended
December 31, 2000 and the 10-QSB for the period ended March 31, 2001.
--30--kmr/clv*
CONTACT: Cyber Mark International Corp.
Joseph Byck, 800/374-9506 x29
:=) Gary Swancey
NASDAQ: MPPP - 2,500 Songs on MP3.Com to be Offered by First International Digital in the Rich-Media MP3i Format
SAN DIEGO, July 12 /PRNewswire/ -- In conjunction with the MP3 Summit 2001 in San Diego this week, First International Digital, Inc. (FID), a Motorola spin-off, known for their innovative irock! line of mp3 players, announces that it has signed an agreement with MP3.com, Inc. (Nasdaq: MPPP - news) for MP3i content. MP3i, a patent-pending technology developed by FID and partner Songdog Network, Inc., gives music service providers - artists, labels, and digital music companies - the power to bundle rich media with mp3 files, thereby enhancing the customer experience and adding value to streaming and downloadable products and services. MP3i enables the combination of music and synchronized lyrics, artist info, liner notes, promotions, and purchase opportunities, while remaining backward compatible with the mp3 format.
As part of the agreement, MP3.com is providing FID with more than 2,500 of its most popular content for encoding in the MP3i format, fusing synchronized lyrics with the music. MP3.com will provide hosting services for the music on FID's website, www.myirock.com, where users will be able to download the content for free. Consumers may view the rich media content on a PC or on the road. For PC applications, the company offers a simple proprietary jukebox player or a Winamp plug-in - both available for free download from the website. Alternatively, users can download MP3i files from the PC to their irock! 600 series players for lyric display on a mobile device. irock! 600 series players were recently introduced and are available on the company's website or through several popular online retailers.
``This partnership creates critical mass for the MP3i format and provides our customers with free premium content. We continue to have success with the proliferation of the MP3i standard through content partnerships as well as OEM decoder licensing agreements. Our first generation MP3i Encoder Pro package is now available to content providers who prefer to create their own interactive mp3's,'' said Randy Cavaiani, vice president of marketing and sales at FID.
``We are excited to utilize technologies such as those created by First International Digital that enhance user experiences and enjoyment,'' said Steve Sheiner, executive vice president of sales and marketing at MP3.com. ``This agreement brings added functionality to music fans and extends it beyond the confines of the desktop.''
ABOUT MP3.COM
MP3.com, Inc. has created a unique and robust technology infrastructure designed to facilitate the storage, management, promotion and delivery of digital music. As the industry's premier Music Service Provider (MSP), the company is dedicated to providing consumers with access to music when they want it, where they want it, using any web-enabled device. The company's website hosts what MP3.com believes is the largest collection of digital music available on the Internet, with more than 1 million songs and audio files posted from over 150,000 digital artists and record labels. Dedicated to growing the digital music space, the company's products and services include on-demand Subscription Music Channels, an innovative Business Music Services program, a Syndicated Radio Program and others. Additionally, through the company's MP3 technology initiative and its music InterOperating System, MP3.com is partnering with a variety of forward-looking businesses to expand its digital music strategy. MP3.com's common stock is listed for trading on the Nasdaq National Market under the ticker symbol MPPP. MP3.com is a trademark or service marks of MP3.com, Inc. Other trademarks or service marks referenced herein are the property of their respective owners. The company is based in San Diego, California. For more information on MP3.com, visit www.mp3.com.
ABOUT FIRST INTERNATIONAL DIGITAL
First International Digital, Inc. (www.myirock.com), a Motorola spin-off headquartered near Chicago, is a global multimedia company with nearly 100 software patents in audio, video, speech and communications technology. FID recently announced the patent-pending MP3i technology, with intuitive products and tools to allow the publishing and decoding of MP3i rich media files. Products include the MP3i Encoder Pro package for content providers, the MP3i OEM Decoder SDK for OEM developers, and the innovative irock! 600 series digital audio player with synchronized lyrics for consumers. First International Digital is privately financed by a number of institutional investors including Motorola, Via Technologies, and First International Computer. The company completed its second round of financing in October 2000.
Statements in this press release that are not strictly historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may include references to activities and events expected to occur in connection with MP3.com's proposed MP3 Summit 2001, as well as any products, anticipated events or services described in connection therewith, herein, or any benefits expected therefrom. These statements involve a high degree of risk and uncertainty, are only predictions, and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include risks related to: MP3.com's litigation proceedings, including without limitation the inability to reach settlement with all parties to such proceedings; risks related to activities or events expected to occur in connection with MP3.com's proposed MP3 Summit 2001, as well as the products and services described in connection therewith or herein; the consummation of the contemplated business combination with Vivendi Universal, including the risk that the required regulatory clearances or other closing conditions might not be timely obtained, or satisfied; MP3.com's new and uncertain business model; acceptance of MP3.com's products and services; MP3.com's limited operating history; and MP3.com's rapid growth, as well as other risks detailed from time to time in MP3.com's reports to the Securities and Exchange Commission, including its report on Form 10-K for the year ended December 31, 2000 and its most recent report on Form 10-Q.
For more information contact:
Marc Mombourquette
Brodeur Worldwide for First International Digital, Inc.
617.587.2037
mmombo@brodeur.com
Greg Wilfahrt
MP3.com
858.623.7280
pr@mp3.com
:=) Gary Swancey
(Nasdaq:EXDS - Exodus Announces Second Quarter 2001 Results Conference Call
SANTA CLARA, Calif.--(BUSINESS WIRE)--July 12, 2001--Exodus Communications®, Inc., (Nasdaq:EXDS - news) the premier managed hosting provider, will be holding a teleconference on Thursday, July 26, 2001, to discuss its second quarter 2001 results. Ellen Hancock, Exodus® Chairman and CEO, Dick Stoltz, Executive Vice President, Finance and CFO, and Sam Mohamad, President, Sales, Marketing and Professional Services, will be hosting the call. This teleconference will also be available live via an audio webcast.
Date/Time
When: Thursday, July 28, 2001 Time: 2:00 p.m. PDT; 5:00 p.m. EDT
Teleconference Information
Dial-in number: 888/849-9216 Please plan on calling in at least 15 minutes prior to the start of the call.
Audio Webcast Information
Time: 2:00 p.m. PDT; 5:00 p.m. EDT Location: http://www.exodus.net/investor_relations/
Teleconference Replay Information
Date: Beginning Thursday, July 26, at 4:30 p.m. PDT; 7:30 p.m. EDT through August 2, 2001, 4:30 p.m. PDT; 7:30 p.m. EDT How: Via telephone and audio webcast Phone: 800/633-8284 (domestic); 858/812-6440 (international) Pass code: 19309338 Audio Webcast: http://www.exodus.net/investor_relations/
About Exodus Communications
Exodus Communications is the leading provider of managed hosting services for enterprises with mission-critical Internet operations. The company offers sophisticated system and network management solutions along with professional services to provide optimal performance for customers' Internet infrastructures. Exodus manages its network infrastructure via a worldwide network of Internet Data Centers (IDCs) located in North America, Europe and Asia Pacific. More information about Exodus can be found at http://www.exodus.net.
Note to Editors: Exodus Communications and Exodus are trademarks of Exodus Communications, Inc., and may be registered in certain jurisdictions. All other trademarks mentioned in this document are the property of their respective owners.
--------------------------------------------------------------------------------
Contact:
Exodus Communications, Inc.
Maureen O'Connell, 408/346-2218 (media)
maureen.oconnell@exodus.net
Steve Thomas, 408/346-2191 (investors)
steve.thomas@exodus.net
:=) Gary Swancey
(Nasdaq:JNIC - JNI Corporation Appoints Wind River CEO To Board of Directors
SAN DIEGO--(BUSINESS WIRE)--July 12, 2001--JNI® Corporation (Nasdaq:JNIC - news) today announced Thomas M. St. Dennis, president and CEO of Wind River Systems Inc. (Nasdaq:WIND - news), has been appointed to the JNI Board of Directors, increasing the board to six members.
``Tom brings his talent and experience to JNI's board at an important juncture for the company,'' said Neal Waddington, president and CEO. ``His previous experience as a director on the boards of publicly held companies, his leadership at Wind River, and his experience in engineering, sales, marketing and business development will assist JNI as an industry leading company.''
St. Dennis, 47, serves as a director for Wind River Systems. He joined Wind River in September 1999 as chief executive officer and director. From July 1992 to September 1999, he served as group vice president and president of the Planarization and Dielectric Deposition Product Business Group at Applied Materials. During his tenure at Applied Materials, he rose from a regional division manager to his most recent position, where he was responsible for the management of three division P&Ls and over 1,600 employees in both the United States and Japan. Prior to joining Applied Materials, St. Dennis was vice president of technology at the Silicon Valley Group and vice president of sales and marketing at Semiconductor Systems. St. Dennis received master's and bachelor's degrees in physics from the University of California, Los Angeles.
About JNI Corporation
JNI Corporation is a leading manufacturer of enterprise-level products used to create storage networks, and is the dominant manufacturer of host bus adapters (HBAs) for the Solaris environment. JNI offers a broad line of FibreStar® HBAs, Emerald(TM) ASICs, and EZ Fibre(TM) and DriverSuite(TM) software for SANs. JNI's products operate on Solaris, Windows 2000, Windows NT, HP-UX, AIX, Novell, Linux and Mac OS systems. JNI customers, distributors and strategic partners include Acal FCS, Avid, Bell Microproducts, Brocade, Chaparral, Compaq StorageWorks, Consan, Crossroads, EMC, Eurologic, Gadzoox, GE Access, Hewlett-Packard, Hitachi Data Systems, IBM, Info X, LSI Logic, McDATA, Nishan Systems, StorageTek, Sun Microsystems, TidalWire and VERITAS. Company headquarters are in San Diego, with offices throughout the U.S. and Munich (Munchen), Germany.
Forward Looking Statements
With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include: our dependence on a small number of OEM and distribution channel customers; potential delays in product development; our dependence on sole source and limited source suppliers for key components; our dependence on growth in the market for servers utilizing the Solaris operating system; increasing competition in the Fibre Channel market; our exclusive focus on Fibre Channel products; rapid technological change in our industry; changes in the storage area networks market; our reliance on manufacturers in other countries; potential litigation involving intellectual property and other issues; and other risk factors discussed in the company's reports on Forms 10-K, 10-Q and other reports filed with the Securities and Exchange Commission.
JNI, JNIC FibreStar, Emerald, EZ Fibre and DriverSuite are trademarks or registered trademarks of JNI Corp. All other trademarks are the property of their respective holders.
--------------------------------------------------------------------------------
Contact:
JNI Corporation, San Diego
Gloria Purdy, 858/523-7130
IR@jni.com
or
Chris Wildermuth, 858/523-7243
cwildermuth@jni.com
www.jni.com.
:=) Gary Swancey
(Nasdaq:SNDK) SanDisk Corporation Wins Legal Decision as Court Rejects Mitsubishi Request for
Injunction to Stop Sale of SanDisk CompactFlash Cards in Japan
Business Editors
SUNNYVALE, Calif.--(BUSINESS WIRE)--July 12, 2001--SanDisk
Corporation (Nasdaq:SNDK) announced today that the Tokyo District
Court has ruled in favor of SanDisk K.K., a wholly-owned Japanese
subsidiary of SanDisk, by denying a petition filed by Mitsubishi Denki
Co. Ltd (Mitsubishi Electric). The petition had sought an injunction
to stop the sale of CompactFlash(TM) memory cards sold by SanDisk K.K.
in Japan. The court ruling was made June 28, 2001.
Mitsubishi Electric filed a petition for a preliminary injunction
with the Tokyo District Court on April 2, 2000, against SanDisk K.K.
regarding the sale of CompactFlash and PC cards. Mitsubishi claimed
that the cards infringed on three Mitsubishi Japanese patents
(Japanese patent numbers JP2099342, JP2129071 and JP2138047). During
the litigation, Mitsubishi withdrew two of the Japanese patents from
the litigation (JP2129071 and JP2138047) in response to prior art
introduced by SanDisk. Regarding the remaining Japanese patent
(JP2099342), the court rejected Mistsubishi's petition for a
preliminary injunction.
Charles Van Orden, general counsel for SanDisk, said, "The court's
ruling brings to an end a litigation that SanDisk has consistently
believed was unnecessary and ill-advised."
SanDisk Corporation, the world's largest supplier of flash data
storage products, designs, manufactures and markets industry-standard,
solid-state data, digital imaging and audio storage products using its
patented, high density flash memory and controller technology. SanDisk
is based in Sunnyvale.
The matters discussed in this news release contain forward looking
statements that are subject to certain risks and uncertainties as
described under the caption, "Factors That May Affect Future Results"
in the company's annual report on Form 10-K and quarterly reports on
Form 10-Q, filed with the Securities and Exchange Commission. The
companies assume no obligation to update the information in this
release.
:=) Gary Swancey
(NASDAQ: AMES - Ames Reports June Comp Sales
ROCKY HILL, Conn.--(BUSINESS WIRE)--July 12, 2001--Ames Department Stores, Inc., (NASDAQ: AMES - news) today announced that net sales for the five-week period ended July 7, 2001 were $327.6 million, compared with net sales of $346.3 million in the year earlier period, a decrease of 5.4 percent. Net sales for the twenty-two week year-to-date period were $1,378.7 million, compared to $1,460.0 million in the year earlier period, a decrease of 5.6 percent.
Comparable-store sales for the period were $304.3 million compared with $319.8 million for the year earlier period, a decrease of 4.8 percent. Comparable-store sales are based on 426 stores. Comparable-store sales for the year-to-date period were $1,268.7 million, compared with $1,369.0 million last year, a decrease of 7.3 percent.
Joseph R. Ettore, Ames Chairman and Chief Executive Officer, said, ``The slowing economy coupled with waning consumer confidence impacted our customers' spending habits during the month of June. However, our margins remain above last year's levels and SG&A expenses as a percent of sales also continue to show improvement. Innovative solutions, such as the recently announced pending initiative whereby Ames would receive $75 million in additional financing from Kimco, will mitigate the effects of the continuing economic downturn.''
Ames Department Stores, Inc. and Subsidiaries
---------------------------------------------
Fiscal 2001 Fiscal 2000 Percent Change*
----------- ----------- ---------------
Month
(Millions)
Total Stores $ 327.6 $ 346.3 (5.4)
Comp Stores $ 304.3 $ 319.8 (4.8)
Year-to-date
(Millions)
Total Stores $1,378.7 $1,460.0 (5.6)
Comp Stores $1,268.7 $1,369.0 (7.3)
* For comparable-store sales, layaways are recorded as sales as of
the time of the initial transaction. For the year-to-date period,
the effect of this reporting method is negligible.
Ames Department Stores, Inc., a FORTUNE 500® company, is the nation's largest regional, full-line discount retailer with annual sales of approximately $4 billion. With 452 stores in the Northeast, Mid-Atlantic and Mid-West, Ames offers value-conscious shoppers quality, name-brand products across a broad range of merchandise categories. For more information about Ames, visit www.AmesStores.com or www.espanol.AmesStores.com.
To find the location of the Ames store nearest you, dial 1-800-SHOP-AMES.
Cautionary Statement Regarding Forward-looking Information
Statements, other than those based on historical facts which address activities, events, or developments that the Company expects or anticipates may occur in the future are forward-looking statements which are based upon a number of assumptions concerning further conditions that may ultimately prove to be inaccurate. Actual events and results may materially differ from anticipated results described in any forward-looking statements. The Company's ability to achieve such results is subject to certain risks and uncertainties. Consequently, these cautionary statements qualify all of the forward-looking statements and there can be no assurance that the results or developments anticipated by the Company will be realized or that they will have the expected effects on the Company or its business or operations.
--------------------------------------------------------------------------------
Contact:
Ames Department Stores, Inc.
Carolyn Skahill, 860/257-5078
cskahill@ameshome.com
:=) Gary Swancey
Nasdaq:ADSX - Mercedes Walton, President and Chief Operating Officer, Offers a Candid Perspective On the State of ADSX
Applied Digital Solutions ``will re-deploy assets and intensify plans to establish our Advanced Wireless Unit as the foundation for a sound and profitable future.''
PALM BEACH, Fla.--(BUSINESS WIRE)--July 12, 2001-- ``...the pathway for ADSX is precisely focused on an
expansive landscape of abundant opportunity.``
Mercedes Walton, president and chief operating officer of Applied Digital Solutions Inc. (Nasdaq:ADSX - news), a leader in information technology and solutions, today announced, ``In view of our undervalued market position, I am compelled to provide our loyal shareholders who have patiently stood by us during a significant and often turbulent transformation, with my candid perspective on the state of our business.
``Since the beginning of 2001, ADSX has undergone radical changes to refocus the enterprise. Our strategic imperatives have been clear and consistent. We committed to deliver strong and sustainable earnings from the core business, while driving growth from the Advanced Wireless Unit.
``Despite formidable challenges that include dismal economic realities affecting the IT sector and efforts to fund new product development amidst softened capital markets, ADSX reaffirms its commitment to deliver the value our shareholders so well deserve.
``In the face of such forces beyond our control, we have accelerated the strategy to accomplish our goals. As a first step, we are renegotiating our credit agreement to restructure debt. These negotiations are driven by a shared belief and commitment to the market potential of Digital Angel. Secondly, we will re-deploy assets and intensify plans to establish our Advanced Wireless Unit as the foundation for a sound and profitable future.
``The magnitude of our strategic direction is underscored by the substantial time and effort we have invested in repositioning Applied Digital Solutions. Year-to-date performance for the Advanced Wireless Unit remains strong. As we conclude our self-imposed quiet period and begin to announce strategic partnerships for Digital Angel, it will become apparent that the pathway for ADSX is precisely focused on an expansive landscape of abundant opportunity.''
About Digital Angel
Digital Angel(TM) represents the first-ever combination of advanced biosensor technology and Web-enabled wireless telecommunications linked to Global Positioning Systems (GPS). By utilizing advanced biosensor capabilities, Digital Angel will be able to monitor key body functions -- such as temperature and pulse -- and transmit that data, along with accurate location information, to a ground station or monitoring facility. Digital Angel will be able to tap into an addressable North American marketplace estimated to exceed $70 billion. Applied Digital Solutions is exploring a wide range of potential applications for Digital Angel, including: monitoring the location and medical condition of at-risk patients; locating lost or missing individuals; locating missing or stolen household pets; managing livestock and other farm-related animals; pinpointing the location of valuable stolen property; managing the commodity supply chain; preventing the unauthorized use of firearms; and providing a tamper-proof means of identification for enhanced e-commerce security. For more information or to reserve Digital Angel service, visit www.digitalangel.net
About Applied Digital Solutions Inc.
Applied Digital Solutions is an information technology and solutions company operating on the I3 Services Platform -- Intelligent Integrated Information Services. Through our core business units (Applications, Services and Advanced Wireless), Applied Digital Solutions offers -- products and services for the collection, organization, analysis, warehousing and dissemination of information for a wide variety of end users including commercial operations, government agencies and consumers. For more information, visit the company's Web site at http://www.adsx.com.
Statements about the company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are ``forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. The company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the company's actual results could differ materially from expected results. The company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
--------------------------------------------------------------------------------
Contact:
ADS Investor Relations
Robert Jackson, 561/805-8042
Fax: 561/805-8002
rjackson@adsx.com
:=) Gary Swancey
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