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RAY DIRKS Research: Recomends CTXV.pk Aug 18, 2010
Posted on admin on August 18, 2010 // Leave Your Comment
RAY DIRKS Research: Recommends CTX Virtual Technologies, Inc. (CTXV.pk)
By Ray Dirks
RAY DIRKS Research recommends CTX Virtual Technologies, Inc. – (CTXV.pk) @ $1.17 with a market cap of $43 million and pro-forma sales in 2009 of $37 million, which are accelerating in 2010 to an annual rate of $50 million plus. CTX Virtual Technologies is a pioneer in developing a suite of applications and products using virtual projection technology for inputting data in mobile cellular devices, PCs, and commercial products. The Cellular division has developed a patent-protected technology, related to virtual input, 3-dimensional interface and AMD sensor performance which provides for 3D projected displays featuring products for virtual keyboards, mouse applications, and other virtual applications, all allowing the consumer greater communications mobility at lower cost without laptops. The Kaibida division, acquired in April, 2010, is a leading OEM manufacturer of GSM (Global Systems for Mobile Communication) and 3G converged mobile devices (Smart Phone) for several large consumer companies and global manufacturers in China. Kaibida is based in Hong Kong with 450 employees. The company is ISO 9002 registered, with manufacturing facilities certified to level 2 cleanliness.
RAY DIRKS Research : CTX Virtual Technologies, Inc. CTXV. pk
Current Price: $1.17
Target Price: $5.00 (by year end 2011)
Revenues (pro-forma)
2009: $37 million
2010: $53 million
2011 (Est) : $180 Million
2012 (Est) : $400 Million
Earnings Per Share:
2010 (Est): $ 0.10
2011 (Est): $ 0.40
2012 (Est): $ 0.80
Over the long term RAY DIRKS Research thinks that sales will reach $ 800 million in 2013 and grow by 30% per year through the year 2017 so that earnings per share could approach $3.00 per share by 2017. In early August of 2010 the company successfully raised $7.38 million in a private placement of stock which brings the total number of shares outstanding to 37 million fully diluted. The use of proceeds enables CTX Virtual Technologies to expedite the launching of both of its two new major products in the 4th Quarter of 2010 – the new mouse and the virtual keyboard and to begin fulfilling significant orders from major companies.
CTX Technologies is starting the auditing process necessary to list the company on a national stock exchange in the U.S. Thanks to an outstanding management team and a superb Board of Directors and Advisory Board, the company was extremely well-received at the annual Consumer Electronics Show in Las Vegas this January, and Forbes Magazine (Taylor Buley, staff writer and editorial developer for Forbes) highlighted their products. The management team is headed by Clifford M. Rhee, Chief Executive Officer (561 – 962 – 2835) who has a strong engineering and marketing background. In May, 2010, the company appointed Jerome Feldman as Chairman of the Board, A lawyer with 10 years of deal experience, Mr. Feldman was with several Wall Street firms and for the past decade has been the founding partner of Capital Solutions Group, LLC, an asset-based lending organization. New additions to the company’s board include several prominent industry leaders from the Far East, including China, where growth in usage of the company’s products will be exponential.
Disclosure:
The information contained in this Report contains forward-looking statements relating to the developments of the featured company’s products, services and future operating results or the future of the market. Statements contained in writing or in interviews are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected.
The words “believe,”,”expect,” “intend,” “anticipate,”, variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect performance include, but are not limited to, those factors that are discussed in each Company’s most recent reports and/or registration statements filed with the Securities and Exchange Commission. Visitors to this Internet Site are cautioned not to place undue reliance on these forward-looking statements. These statements have not been independently verified by the officers, directors or employees of Corporate Profile, LLC .com.
The information on this Internet Site has been submitted by journalists and Analyst or provided by the companies contained herein or other sources believed to be reliable. Corporate Profile, LLC has not independently verified the information provided to it by third parties. Each individual should perform his or her own independent analysis before investing. The information contained herein is neither an offer nor a solicitation to buy any of the securities of the companies contained herein. Investing in securities is speculative and contains a high element of risk.
CTX Virtual Technologies, Inc. Completes $7.4 Million Private Placement
Latest News Releases
SOURCE: CTX Virtual Technologies, Inc.
Aug 10, 2010 11:13 ET
CTX Virtual Technologies, Inc. Completes $7.4 Million Private Placement
Buckman, Buckman & Reid, Inc., Members FINRA and SIPC, Acted as Exclusive Placement Agent; Proceeds Will Expedite Product Order Fulfillment and New Product Development
BOCA RATON, FL--(Marketwire - August 10, 2010) - CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (PINKSHEETS: CTXV), announced today that in July 2010 it completed a private placement resulting in gross proceeds of approximately $7.4 million. Buckman, Buckman & Reid, Inc. served as exclusive placement agent.
CTX Virtual Technologies Inc. is a technology pioneer in developing a suite of applications and products utilizing virtual projection technology for inputting data in mobile cellular devices, PCs, and commercial products. The company's proprietary 3D projected display technology applied to its telecommunication devices, provides a number of commercial applications, all allowing the consumer greater communications mobility.
The private placement provided $2.387 million of gross proceeds resulting from the sale of approximately 4.05 million units ("Units") to accredited investors at a price of $.59 per unit, each consisting of one share of common stock and one warrant to purchase one share of common stock. The warrants are exercisable for five years at a price of $1.00 per share, subject to adjustment and redemption under certain circumstances. The gross proceeds balance of $5 million resulted from the sale of a convertible note purchased by a strategic investor. The principal amount of the note is convertible into an aggregate of approximately 8.5 million Units, representing a conversion rate of $.59 per unit. The note bears interest at 8% per annum and matures on July 26, 2011, at which time it will convert automatically into common stock. The note is also convertible at any time after issuance at the holder's option and at any time beginning six months after issuance at the Company's option. Conversion of the note, either automatically at maturity or earlier at the Company's option, is subject to there being no default in the payment of interest or otherwise under the note. Buckman, Buckman & Reid, Inc. was organized in 1988 and presently employs over one hundred (100) seasoned financial industry professionals. The firm serves over 30,000 clients with assets in excess of $1,000,000,000.
Regarding the importance of the placement, Cliff Rhee, CEO, stated, "We are pleased that Buckman, Buckman & Reid has successfully completed this $7.4 million raise. The proceeds will enable us to have working capital for the further development of our line of proprietary 3D projection technologies, next generation smartphones and for additional fulfillment of near term project orders."
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
For further information, contact:
Clifford Rhee
CTX Virtual Technologies, Inc.
Tel: (561) 962-2835
Investor Contact:
Stan Altschuler/Richard Cooper
Strategic Growth International, Inc.
212-838-1444
www.sgi-ir.com
Is anyone watching? The stock has upticked the last couple of days. Looks like the $7 million raise may be done. If so, look for some big things to happen over the next few months.
The first SEC Filling can be viewed at:
http://www.sec.gov/Archives/edgar/data/1495930/000149593010000003/xslFormDX01/primary_doc.xml
Boca Raton-Based CTX Virtual Technologies Secures $1M of $7M Goal - cbl
By citybizlist Staff
BOCA RATON -- CTX Virtual Technologies Inc. (Pink Sheets: CTXV) has raised $1.04 million of its $7.02 million mixed-securities offering, according to the company's first SEC filing on record.
The Boca Raton-based company manufactures and distributes accessories for mobile telecommunication, information-technology data management and mobile data.
Principals named in the Reg D filing include CTX Chairman Jerome Feldman, of Capital Solutions Group LLC, which arranges business asset-based loans in excess of $300 million; past CTX Chairman David Cohen and director Haim Ifrah.
Also named are CTX President and CEO Cliff Rhee, CFO D.S. Moon; Ray Cha and Stephen Lee, both general managers and vice presidents; and Jae-Eul Koo, research and development chief.
New information has been added to the CTX website.
http://www.ctxtechnologies.com/index.php
Looks like information is about to come out. If this virtual keyboard technology gets into cellphones that should create quite a demand and interest in CTX. I am ready. Lets get going.
The company's reverse split of 125 for 1 just screwed all existing PCAI shareholders and David Cohen is STILL here!
Thanks, derf. When you used "said", I thought you were referring to the phone convo. ( :
Here is the PR. I understated the sales by $6.2 million. Reported combined sales were actually $37.2 million. Sorry.
CTX Virtual Technologies, Inc. Completes Acquisition of Kaibida International Limited
Monday 04/26/2010 9:10 AM ET - Marketwire
Related Companies
Symbol Last %Chg
CTXV 1.00 0.00%
As of 9:30 AM ET 5/25/10
CTX Virtual Technologies, Inc. (PINKSHEETS: CTXV), announced today that it has completed its acquisition of Kaibida International Limited based in Hong Kong. Kaibida is a leading OEM manufacturer of GSM (Global System for Mobile Communication) and converged mobile devices (Smartphone) for several large consumer companies and global phone manufacturers in China. With the completion of this acquisition, the Company had consolidated sales in 2009 of $37.2 million.
Said by who?
All that has been said so far is that the two companies that make up CTX had combined sales of about $31 million last year
You could be wrong. I spoke to the investor relations group identified on the CTX web site yesterday and they indicated they a big push would be happening soon to bring information out to the public about the Company. All that has been said so far is that the two companies that make up CTX had combined sales of about $31 million last year. Once information and financials begins to come out investors will have a reason to buy. Right now there is not enough information out there to make an informed decision. With only about 650,000 tradeable shares, any positive information should make this stock jump significantly IMO.
This stock has been trading sideways for months it's going nowhere IMO
CTX Virtual Technologies, Inc. (PINKSHEETS: CTXV), announced the appointment of Mr. Jerome Feldman as Chairman of its Board of Directors commencing immediately. Mr. Feldman replaces Mr. David Cohen, who continues to serve as a member of the Board of Directors.
Mr. Feldman has a diversified background in law and finance. He graduated from Brooklyn Law School obtaining a JD Degree and a post-graduate law degree, an LLM, from New York University. Mr. Feldman then practiced law, particularly securities-related law, for over ten years at such firms and institutions as the American Stock Exchange, Paine Webber and as General Counsel to Drexel Firestone, the predecessor firm to Drexel Burnham. He then pursued a career of over 25 years in investment banking as both a banker and member of senior management for a variety of mid sized firms. During his service on Wall Street, Mr. Feldman was involved in raising over $200 million in a variety of public and private offerings.
For the past nine years, Mr. Feldman has been a principal of Capital Solutions Group, LLC, an asset based lending organization. His firm has been responsible for arranging loans in excess of $300 million to a diverse base of companies throughout the United States.
About CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc. is engaged in the business of design and manufacturing of mobile data and telecommunication products with facilities in the U.S., China, Canada and Korea.
For further information, contact:
Clifford Rhee
CEO
CTX Virtual Technologies, Inc.
Tel: (561) 962-2835
SOURCE: CTX Virtual Technologies, Inc.
Derf1, just read your post, got my anwser, and thank you
Yes what happened? One answer from e-trade customer rep was; if it is in the company interest, they may not disburse those shares. Well, well, well.....
The good news is that there are more trades lately.
The bad news is that they're bringing the sp down.
The other bad news is that neither the company nor the IR folks return email questions.
Thanks, I was just wondering if anyone has heard or maybe seen anything about when the shares might be avalible..
I'm glad to see CTXV up and running and hope it does well.
GLTA
If you read the PR you just cited, your answer is clearly stated there.
...Pico Corporation intends to prepare and file a registration statement with the
Securities and Exchange Commission registering the spin-off distribution of the
shares of Pico to the beneficial holders of Petroleum Consolidators' common
stock. The spin off will not occur until the registration statement has been
declared effective by the Securities and Exchange Commission
("SEC"). Until the
registration statement has been filed, declared effective by the SEC and the
distribution completed, the shares of Pico Corporation that will be spun off
have been transferred to and will be held in trust for the benefit of Petroleum
Consolidators' shareholders entitled to participate in the spin off...
The Registration statement has not been filed yet. Once it is filed and declared effective you should receive your Pico shares.
What ever happened to the PICO shares we were suppose to get, does anyone know?
Petroleum Consolidators Of America Inc. (PCAID) News
February 8, 2010 - 12:02 PM PST
Petroleum Consolidators of America Announces Record Date for Spin Off of Pico
Corporation
PALM BEACH GARDENS, FL, Feb. 8, 2010 (Marketwire) --
PALM BEACH GARDENS, FL -- (Marketwire) -- 02/08/10 -- Petroleum Consolidators of
America, Inc. (PINKSHEETS: PCAI) announced today that it has formed a new
wholly-owned subsidiary, Pico Corporation, for the purpose of spinning off, pro
rata to the beneficial owners of its common stock, all of its interest in that
subsidiary and its associated operations.
Pico was formed and organized as a new holding company for Petroleum
Consolidators' historical operations and subsidiaries, consisting of Pioneer
Realty Group, Inc., and Gas Retailers, Inc. The formation of Pico was undertaken
in anticipation that Petroleum Consolidators will consummate the previously
announced and pending acquisition of CTX Technologies, Inc.
Pico is a wholly owned subsidiary of Petroleum Consolidators. All of the shares
of Pico owned by Petroleum Consolidators will be spun off to the beneficial
owners of Petroleum Consolidators' shares of common stock, pro rata, in the form
of a stock distribution. Beneficial owners of Petroleum Consolidators' common
stock entitled to participate in the distribution will receive one share of Pico
for every 14 shares of Petroleum Consolidators that they own as of the record
date.
Petroleum Consolidators has established the close of business on February 16,
2010, as the record date for the spin off. Only shareholders and beneficial
owners of record of Petroleum Consolidators on the record date will be entitled
to participate in the stock distribution. Following the record date, shares of
Petroleum Consolidators common stock will trade "ex-dividend."
Pico Corporation intends to prepare and file a registration statement with the
Securities and Exchange Commission registering the spin-off distribution of the
shares of Pico to the beneficial holders of Petroleum Consolidators' common
stock. The spin off will not occur until the registration statement has been
declared effective by the Securities and Exchange Commission ("SEC"). Until the
registration statement has been filed, declared effective by the SEC and the
distribution completed, the shares of Pico Corporation that will be spun off
have been transferred to and will be held in trust for the benefit of Petroleum
Consolidators' shareholders entitled to participate in the spin off.
CTX Virtual Technologies, Inc. Completes Acquisition of Kaibida International Limited
19 minutes ago - Marketwire
Related Companies
Symbol Last %Chg
CTXV 1.00 0.00%
As of 1:00 PM ET 4/23/10
CTX Virtual Technologies, Inc. (PINKSHEETS: CTXV), announced today that it has completed its acquisition of Kaibida International Limited based in Hong Kong. Kaibida is a leading OEM manufacturer of GSM (Global System for Mobile Communication) and converged mobile devices (Smartphone) for several large consumer companies and global phone manufacturers in China. With the completion of this acquisition, the Company had consolidated sales in 2009 of $37.2 million.
CTX Virtual Technologies Inc. ("The Company") is a technology pioneer in developing a suite of applications and products utilizing virtual projection technology for inputting data in mobile cellular devices, PCs, and commercial products. Our Celluon division has developed a patent protected technology which provides for 3D projected displays. The 3D feature provides for virtual keyboards, mouse applications and other virtual applications, all allowing the consumer greater communications mobility.
In completing the acquisition, Clifford Rhee, CEO of the Company, stated, "We are delighted to have a strategic manufacturer of communication devices onto which we can add our suite of patent protected products. The ability to accessorize the communication devices with mobile data input capabilities will truly accelerate the convergence that is taking place in the communications, entertainment, and consumer markets. We are currently engaged in various product initiatives for other vertical markets which will allow for greater versatility for smart phones, PCs, consumer products such as home appliances, and automotive applications."
Mr. David Cohen, Chairman of the company, added, "This acquisition is extremely important on several fronts: first, it brings forth the true value proposition for our shareholders; second, the acquisition, with its combined technologies, will allow CTX Virtual Technologies, Inc. to move to the forefront of the PDA market; and third, this transaction will be immediately accretive to revenues and earnings."
About CTX Virtual Technologies, Inc. CTX Virtual Technologies, Inc., through its subsidiaries and affiliates, is a virtual telecommunications technology company located in Boca Raton, FL, with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX or Petroleum Consolidators' expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX and/or Petroleum Consolidators' currently operates, but because of the factors herein listed, as well as other factors beyond its control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, integrating the operations of the new company, uncertainties related to any future acquisitions, regulatory requirements applicable to public companies, and other uncertainties.
For further information, contact:
Corporate:
Clifford Rhee
CTX Virtual Technologies, Inc.
Tel: (561) 962-2835
Investor Contact:
Stan Altschuler & Rich Cooper
Strategic Growth International, Inc.
Tel: (212) 838-1444
www.sgi-ir.com
Good News!!! Now they are trading online instead of having to call in the orders to a broker! Not sure if anyone already new that but I didn't.
CTX Virtual Technologies, Inc. Changes Trading Symbol to CTXV and Changes Corporate NameFont size: A | A | A8:55 AM ET 4/20/10 | Marketwire
CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (PINKSHEETS: CTXV), announced today that it changed its name from Petroleum Consolidators of America to CTX Virtual Technologies, Inc. and its symbol from PCAI to CTXV.
The Company has also announced the retention of Strategic Growth International, Inc. ("SGI"), as its investor relations consultant. SGI specializes in creating interest in undiscovered public companies worldwide and will assist CTX Virtual Technologies, Inc. in establishing worldwide exposure and relationships particularly with institutional investors.
The Company expects to begin the necessary audits and other requirements for the application to the OTC Bulletin Board or other senior exchange.
Founded in 1989, SGI is headed by Stanley Altschuler and Richard Cooper, two highly respected Wall Street veterans, who have assembled an experienced team of financial professionals that specialize in assisting emerging companies to create worldwide interest in the financial markets. Since its inception in 1989, Strategic Growth has achieved an unparalleled level of excellence and success, particularly with companies like CTX Virtual Technologies, who are leaders in advanced communications technologies.
Clifford M. Rhee, Chief Executive Officer of CTX Virtual Technologies, stated, "CTX has made significant progress in creating a suite of revolutionary technologies for more flexibility in imputing data in wireless devices, through its 'first of a kind' imbedded technologies. We are excited to be working with Strategic Growth International, Inc., who has great success with other pioneering technology companies like CTX. SGI's assistance will be invaluable in introducing CTX to institutional investors and generating market coverage."
"Strategic Growth is proud to be representing advanced technology companies like CTX Virtual Technologies, Inc. that has already established itself in the world's largest markets for communication devices in the U.S. and China," stated President Stan Altschuler of SGI.
About CTX Virtual Technologies, Inc. - CTX Virtual Technologies, Inc. is a leader in mobile data input and technologies company with its principal U.S. office in Boca Raton, Florida, and facilities in the U.S., China, Canada and Korea. For more information about CTX, please visit the Company's new web site at www.ctxtechnologies.com, which contains complete demonstration videos regarding its unique products.
Forward-Looking Statements - The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX or Petroleum Consolidators' expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX and/or Petroleum Consolidators' currently operates, but because of the factors herein listed, as well as other factors beyond its control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, integrating the operations of the new company, uncertainties related to any future acquisitions, regulatory requirements applicable to public companies, and other uncertainties.
SOURCE: CTX Virtual Technologies, Inc.
on earlier news it appears company is fer real. is that spread right?
bid $0.25 ask $8.50
Well, yeah. I posted the company's website.
Of course, they only had the EcoMouse on it. I don't know of any other tech they have. Although they do mention them.
It's the share structure you have to be wary of.
You are correct but did you see the technology?
I really think you have to wait for the dust to settle here before you can know what's going on.
There are less than 433,000 shares that are available for trading. A one day buy volume of only 50,000 to 100,000 shares could easily push the price to the $8 to $10 range IMO.
Bid - .08, Asked $8.50. The MMs are really covering their a$$es on this one. Looking for a base to start this mouse out trading.
symbol and name change done now.
i see updated needs quotes to show.
http://investorshub.advfn.com/boards/board.aspx?board_id=7319
BOCA RATON, FL--(Marketwire - 04/20/10) - CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (Pinksheets:CTXV - News), announced today that it changed its name from Petroleum Consolidators of America to CTX Virtual Technologies, Inc. and its symbol from PCAI to CTXV.
Hello? Anyone home?
Your Ibox is out of date and pretty much useless, mick.
Here's the new website for CTX.
http://www.ctxtechnologies.com/
You might want to notify Ihub about getting the quote feed straightened out, too.
Rough day here!
and for slob who says that National protection plan has nothing to do with pcai and ctx.tech. you can read it for yourself off there site
"slob" posts here?
http://investorshub.advfn.com/boards/profile.asp?user=125728
I hope you didn't actually mean me. I never made reference to what you talked about in that post.
Here is what i can come up with
It appears to me that Cohen just sold a shell rhee wants nothing to do with pcai business plan so all of it is to be spun into PICO when the dust settles cohen will be totally removed from pcai and be free to continue his games with this new company.
Clifford Rhee appears to already have what he needs to duplicate his ohg model here in the states. He has been working this for some time IMHO
heres a few links ive found
aug 14 2009
insert-text-here
Feb 5th
insert-text-here
Feb 17th.
insert-text-here
and for slob who says that National protection plan has nothing to do with pcai and ctx.tech. you can read it for yourself off there site insert-text-here
This all just my opion still diggign into it.
From what I gathered from the pr the divy shares are comprised of the worthless divisions of the old failed company.
I'm not sure why they'd bother doing that.
But, I'm not really following this stock all that closely.
Maybe someone else would be kind enough to clarify.
Yes the Divy shares.
Not sure what the divy is? Or....?
ooohh. LOL. Not sure what that is. Hmmm?
That's what you should have received.
He was talking about the worthless divy shares you'll get from the old business entities, now "pico".
I think. lol
I had 16,000 shares and only received 128. the split was 1 for 125. That's what was posted in the PR
As did I! Finger's crossed, let's hope for the best!!!
I had 1000 shares, now after R/S I have 8 shares. On Feb 18 all existing shareholders should have received, payable 3/23/10 restricted shares of the PICO corp (I should have received 71 shares). As of today no shares were asigned. This company was waiting for R/S to post first and now they will assign those RESTRICTED SHARES. I will receive ONE. Great way to get free funds for your comany......
Got my new PCAID shares in my account today.
Thanks much! ;)
May not see any trading until the "D" comes off.
.875 last trade indicated on Mar 24.
Anybody showing new shares under the new ticker yet??? I'm still showing 0'd out with "Capital loss numbering" as the ticker.
That has nothing to do with PCAI.
CTX Technologies, Inc already exists in Canada.
As opposed to....."CTX Virtual Technologies, Inc. based in Florida"
National Income Protection Plan Inc.
Establishes a US Technology Company
Strategic Expansion
Boca Raton, Florida — National Income Protection Plan, Inc. operating as Oncidium Health Group. (“OHG”) announced today that it has established a US technology company, CTX Virtual Technologies, Inc. based in Florida (www.ctxtechnologies.com).
The new company will operate independently with a focus on Sales & Marketing as well as Research & Development for a multitude of technology related projects within the company’s overall business plan.
Oncidium Health Group has embarked on an ambitious plan to grow its health care management business through internal diversification of services and strategic mergers and acquisitions.
Clifford Rhee, OHG President & CEO said: “This expansion is an important part of our business diversification and growth initiative to deliver cost effective solutions to our clients. We will offer services that extend from claims management to providing specialized medical services to both public and corporate clients.”
About Oncidium Health Group. (“OHG”): www.oncidiumhealth.com Oncidium Health Group is an innovative and technologically advanced provider of Absence Management Programs such as short-term disability claims management, complex claims consulting, occupational health related services and workers compensation claims management.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company’s operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
Contact:
Investors Relations:
Greystone Investment bank
152 West 57th Street
11th Floor
New York, NY 10019
Steve Feldman
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BOCA RATON, FL--(Marketwire - 04/20/10) - CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (Pinksheets:CTXV - News),
announced today that it changed its name from Petroleum Consolidators of America to CTX Virtual Technologies, Inc. and its symbol from PCAI to CTXV.http://finance.yahoo.com/news/CTX-Virtual-Technologies-Inc-iw-1469713195.html?x=0&.v=2
COMPANY INFO:
Petroleum Consolidators of America, Inc.
4400 Northcorp Parkway
Palm Beach Gardens, FL 33410
http://www.petroleumconsolidators.com
Phone: 561-483-4440
Fax: 561-515-6128
E-mail: info@petroleumconsolidators.com
Management Team
David Cohen, President, Chief Executive Officer and Director. Mr. Cohen’s expertise includes comprehensive retail gasoline and convenience store operations and management. Mr. Cohen also has extensive experience in the securities markets, corporate finance, and corporate consulting for publicly-traded companies. As an advisor for various investment banking firms and brokerages from 1996 to 2006, Mr. Cohen specialized in the small and micro-cap sector, arranging financings in the public and private equity markets for emerging companies in a variety of industries. As a former principal in the securities industry, Mr. Cohen was responsible for managing more than $65 million of non-discretionary assets. Mr. Cohen holds a Bachelor of Arts degree from Pace University in New York City.
Advisory Board
Ralph DiSalvo
Mr. DiSalvo is the president and founder of RJD Oil, Inc., a retail gasoline operations company operating since 1998. Mr. DiSalvo is the builder, owner and operator of numerous major branded retail gas stations and convenience stores throughout Florida. Additionally, he is the owner and operator of a wholesale gasoline distributorship and various car washes. Mr. DiSalvo currently manages and trains 40+ full time employees throughout his retail operations.
F. Marrell Jerkins
Mr. Jerkins is the president and CEO of Great Dane Petroleum Contractors, Inc. With over 30 years of construction and operational experience within the gasoline retailing industry, Mr. Jerkins is considered a leading expert in various aspects of the retail petroleum business. Mr. Jerkins currently holds contractor’s licenses with the State of Florida, Alabama, Tennessee, and Georgia. He is responsible for all phases of ground-up construction for clients, which include Exxon/Mobil Oil, Chevron/Texaco Oil Co., Shell Oil, Hess, BP/Amoco and Pro-Energy. Moreover, Mr. Jerkins is an owner and operator of a number of major branded retail gasoline stations and convenience store facilities in Florida. Mr. Jerkins earned his Bachelor’s degree in Civil Engineering from Auburn University in Auburn, Alabama.
Bruce Jordan
Mr. Jordan is currently the president of Midtown Partners & Co., LLC. a FINRA Broker/Dealer. Mr. Jordan’s expertise includes more than 25 years in investment banking, investment advisory services, and securities. During the 1990s, Mr. Jordan professionally managed equity investments of more than $100 million of discretionary assets, and nearly $1 billion of non-discretionary assets. Mr. Jordan has been responsible for both public and private financings of emerging companies in various industries. Mr. Jordan earned his Master’s Degree from Georgia State University in Corporate Finance and his Bachelor’s Degree from Emory University in Accounting.
Robert Kennedy
Mr. Kennedy is a builder, owner and operator of several major branded, retail gasoline stations on the east and west coast of Florida. Mr. Kennedy has 28-years of experience in all aspects of management, cost controls and entrepreneurship.
Diane San Pedro
Mrs. San Pedro is currently the Chief Financial Officer of GE Capital Markets and has extensive experience as a CPA/Examiner with the U.S. Securities and Exchange Commission, BDO Seidman, LLP., GE Real Estate, BlackRock, Inc., and IBM’s Global Financing Division. Throughout her tenure, Ms. San Pedro’s functions have ranged from auditing to external reporting for a public company, to taxes and transaction structure, to regulatory compliance. Ms. San Pedro earned her Bachelor’s degree in Accounting from Pace University in New York City.
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