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GMED "...Yeeee Haw...." News: http://www.investorshub.com/boards/read_msg.asp?message_id=573859
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
WLDI gets exposure in Bejing China, this article was posted by Hoovers. http://cgi.wn.com/?template=worldnews%2Fsearch.txt&action=search&first=0&SearchString=Co...
Ron
Longview, TX - November 7, 2002 RTIN Holdings (NASD OTC BB: RTNH), announced today that it has filed for its international patent for the technology and business systems. This application starts the process for protection of the invention in countries that are signatories of the Patent Cooperation Treaty. The Company plans to aggressively pursue this patent and is exploring potential for expansion utilizing the systems both domestically and outside the United States.
David Lee, President Safe Med Systems stated, "We remain committed to securing our place in the market both domestically and abroad. The problem associated with the thousands of deaths and injuries each year caused by prescription related errors is not isolated here in our country. We desire to see this system being utilized throughout the United States and the world."
Curtis A. Swanson, President of RTIN Holdings, Inc. stated, "In keeping with our objective of continuing to build shareholder value, the management of the Company deemed it a strategic move to move forward with these international patent applications and position ourselves for international expansion."
Safe Med Systems, Inc. T is a medical communications/technology company that provides state-of-the-art, hand-held prescription units loaded with patent-pending software and secure, broadband wireless technology. Safescript Pharmacies, Inc. T is the preferred retail pharmacy provider that specializes in filling prescriptions generated by the Safe Med Systems technology. For additional information please visit our website at www.rtinholdings.com and www.safemedinc.com .
Contact: Thomas Aigner at tomaigner@rtinholdings.com or by telephone at 903-557-1543.
Certain statements in this news release may constitute "forward-looking" statements within the meaning of section 21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Other risk factors are listed in the most recent Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB filed with the Securities and Exchange Commission. Such forward-looking statements involve risks and uncertainties, which may cause the actual results, performance, or achievement expressed or implied to differ.
Happy Investing!
KZAP
ESYN Volume up, up 6% Positive MACD!
Ron
ESYN News - More cost cutting!
http://biz.yahoo.com/pz/021106/33556.html
eSynch Announces Move to New Headquarters
Wednesday November 6, 9:36 am ET
IRVINE, Calif., Nov 6, 2002 (PRIMEZONE) -- eSynch Corporation (OTC BB:ESYN.OB - News), a leader in the development and distribution of digital content delivery, today announced that it has relocated to new offices in Irvine, CA.
This move, effective November 1, 2002 is part of the continued cost reduction program eSynch initiated last year.
The new address is
eSynch Corporation
One Technology Drive, Bldg H-ESYN
Irvine, CA 92618
714-258-1900 Telephone
About eSynch
eSynch (http://www.esynch.com), founded in 1994, is a software development company that designs and distributes turnkey and customized solutions for the digital delivery of rich media content. The Company's premiere product, MediaOffice(tm), is a suite of browser-based administration tools allowing secure and Internet distribution of business media content. MediaPod Player, an audiovisual presentation platform with interactive search and navigation capabilities and MediaMosaic, which incorporates streaming video, fully searchable transcripts synchronized to the video are other leading indicators of the Company's strength in this space.
Ron
OK, Thanks. I'll start looking at them tonight.
Tim, check this link. Add FCEL and APWR to the list too. Those are the ones I have been picking up lately.
http://www.investorshub.com/boards/read_msg.asp?message_id=568438
Disclaimer
http://www.investorshub.com/boards/read_msg.asp?message_id=135097
Josh, Finally got around to looking at this list, but the link did not display/load. Can you post the results of your scan?
Did you find any you liked?
Check these out. These all trade below 2 times book value and have a Price to Earnings ratio above 1 but less than 15.
Got this "alert" email. Looks kinda interesting. Of course, they got $30K to publish, plus I'm sure they front loaded.
Company Information:
GLEE is engaged in the fields of mineral exploration, energy, and property development within North America. GLEE, through its subsidiary, GL Tungsten, is currently working on developing an advanced tungsten project known as Pilot Mountain located in Mineral County, Nevada. TUNGSTEN is red-hot! Most readers , if they have even heard of TUNGSTEN, only associate it with the filaments in incandescent light bulbs. Read on, there's a lot more to TUNGSTEN. A next generation light bulb, computer chips, nose cones for rockets , and more and more. Below read about just one of the potential uses for TUNGSTEN that is cutting edge and which can have a HUGE INFLUENCE on the value of TUNGSTEN.
The US Army is going green. Please click on the links below to read the articles regarding the US Military switching from lead-based ammunition to tungsten-based ammunition to fully understand the HUGE upside potential of GLEE. The Lone Ranger may have used silver bullets, but the US Army plans to go green!!
Click on any of the links below to read a number of recent news articles detailing the US Army switching to Tungsten ammunition and you will understand GL Energy's (OTC BB: GLEE) HUGE UPSIDE POTENTIAL!! As you will read in a reprint of an article below, it is estimated that "Next year, the Army will produce 5 million to 10 million green bullets (made of Tungsten) and after that up to 200 million each year", stated Wade Bunting, project manager for environmental armament technologies at the Picatinny Arsenal in New Jersey.
Additional Reading:
Army Magazine Article - http://www.ausa.org/www/armymag.nsf/all/C29B7A7BA265E77385256B9E007172 19?OpenDocument
Military.com Article -
http://www.military.com/Content/MoreContent/1,12044,FL_greenammo_swarn er,00.html
ABCNews.com Article -
http://abcnews.go.com/sections/scitech/DailyNews/greenbullets010503.ht ml
Conclusion:
**GLEE recently announced results from samples taken at the Company's Desert Scheelite deposit of the Pilot Mountain site. GLEE announced that recent samplings returned results of the W03 component of Tungsten to be 1.29% in sample #1 and 1.44% in sample #2. Additionally, the Company's recent press release announced results of one sample containing over 500 g/mt (over 15.5 troy ounces per tonne) of Silver!!
**Compare GLEE's announced sample results with other operating mining companies such as North American Tungsten's (CDNX: NTC) MacTung Project. On NTC's website they report the MacTung Project is being worked at an average grade of 0.95% W03. (see: http://www.northamericantungsten.com )
**Additionally, compare the mining operation managed by Avocet Mining Company where the company reports working its Panasqueira tungsten mine in Portugal with a .28% W03 average content. (see: http://www.avocet.co.uk/tungsten.html )
The Company's current project, known as Pilot Mountain, is an advanced tungsten project located in Mineral County, (west-central) Nevada, USA. Elevated tungsten values occur throughout this area, and there are four known mineral resources within the claim area: Desert Scheelite, Gunmetal, Garnet, and Rose tungsten deposits. The property lies approximately 21 miles east of the town of Mina on an all-weather, county maintained gravel road. Mina is 168 miles southeast of Reno on U.S. Highway 95.
Important Notice and Disclaimer:
The purpose of this advertisement, like any advertising, is to provide coverage and publicity for the advertised company, its products or services. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country. Verify all claims and do your own due diligence. This advertisement is not a solicitation or recommendation to buy, sell or hold securities and does not provide an analysis of the financial position of the company. We recommend you use the information found in this advertisement as an initial starting point for conducting your own research on the advertised company in order to determine your own personal opinion of the company before investing. We are not offering securities for sale. An offer to buy or sell can be made only with accompanying disclosure documents and only in the states and provinces for which they are approved. All statements and opinions contained in this advertisement are the sole opinion of the authors and are subject to change without notice. We are not liable for any investment decisions by our readers. Readers should independently investigate and fully understand all risks before investing. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser or broker prior to completing any such purchase or sale decision. We are not registered investment advisers, or broker-dealers, or members of any financial regulatory bodies. The information contained in this advertisement is provided as an information service only. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. We disclaim any and all liability as to the completeness or accuracy of the information and for any omissions of material facts. The advertised company has not hired us and we have not received any compensation from the advertised company. We have not discussed this advertisement with the management of the advertised company. In order to be in full compliance with the U.S. Securities Act of 1933, Section 17(b), we anticipate receiving thirty thousand dollars from a non-affiliate third party shareholder as compensation for the distribution of this stock profile. Since we are receiving compensation and hold stock in the advertised company there is an inherent conflict of interest in our statements and opinions and such statements and opinions cannot be considered independent. We will benefit from any increase in share price of the advertised company. We may sell our shares at any time, without notice, be that before, during or immediately after the release of this advertisement. The liquidation of our stock may have a negative impact on the securities of the company liquidated, including decreased market value and/or dilution of the company's securities. Furthermore, our associates and/or employees and/or principals may have stock positions in advertised companies purchased in the open market or in private transactions. These positions may be liquidated, without prior notification, even after we have made positive comments regarding the advertised company. Any price targets and/or projections mentioned are solely opinions and should not be taken as suggested holding periods. We may sell our positions in any companies advertised before they reach such target prices. The receipt of this information constitutes your acceptance of these terms and conditions. Reading this advertisement shall not create under any circumstances an offer to buy or sell stock in any company advertised. Nor shall it create any principal-agent relationship between the reader and us. Information within this advertisement contains "forward looking" statements within the meaning of Section 27(a) of the U.S. Securities Act of 1933 and Section 21(e) of the U.S. Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts and may be forward looking statements. Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.
--------------------------------------------------------------------------------
a couple of quick links to bring it back to reality, lol.
http://finance.yahoo.com/q?s=glee.ob&d=c
The Company does not have any acquisition or merger plans at this time. The Company is planning on conducting preliminary research to determine mineralizations on its Pilot Mountain claims and is not yet developing any mineral resources. The Company has limited financial capacity and will need substantial funding to engage in mineral development activities, if the geological research indicates it is worth pursuing. Businesses engaged in mineral exploration are highly speculative investments, and investors typically do not achieve a return on their investment in these kinds of companies.
http://biz.yahoo.com/prnews/020812/to008_1.html
AVHC - News: http://www.investorshub.com/boards/read_msg.asp?message_id=568136
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Not bad 26 out of 36 stocks that had a positive day. of course this week looks to easy everything is running
JDSU
As of: 1:46pm 11/4/2002
Symbol Last Change % Change Volume
JDSU 2.88 0.40 +16.13% 45,455,200
ez2
WLDI's new website, have peak!
http://www.isotecinc.com/index.html
Ron
Volume alert on GONT, it's going pop soon! Radar it!!
Ron
If you thought that last week was good, wait till you see how this week is going to turn out.
That is what I thought last week when I ran the weekend list. Not only did the volumes pick up but there was quite a few more positive looking stocks. So I mentioned to my subscribers that last week should be a good one, Well it was a very good one. I just ran the list for this week WOW, am I stoked. (watching to much x-games).
Our trading group played udccf, cpn, aes, gase, asnt, affi (that one was a fluke). These were some of the stocks that were on my Top 25 list. Of course there were others stocks that were recommended by me and other members. If you like the way those few look wait to you see the winners this week. Enough fan fare here is the list.
NTSE, AWWC, AVDI, ARES, APVLF, AWIN, ASGA, AVTC, BESC, BIGR, BPRG, BAMK, BSNK, CXIN, CPPXF, DCHK, DCTN, DCUT, ECEC, EGNS, EESV, EPEA, EXUS, FCHA, FNVG, FXGP,
Here are the top picks, sometimes they are the best, lol
BDLF, COCBF, ETNT, ESYN, HMSK, IXXI, ITTE, MYMX, NEOP, NTPL, SFXC, JLWT, UDCCF
The list looks to be over 100 long but only including the first 20 and the top picks. I also like the bottom list much better then the top of the alphabet, the one you have here. So if any one wants the complete list request it at
tlthomas@nospam.quadnet.net fix the e-address as necessary
The e-address states my position on spam respect it please.
Thanks Muell! Nice support at .02. e/m.
Disclaimer
http://www.investorshub.com/boards/read_msg.asp?message_id=135097
ESYN radar it, it's getting ready to run. Strong accumulation! Positive A/D!
Ron
PERL (OTCBB) Perle Systems Reports First Quarter Fiscal 2003 Financial Results
FRIDAY , NOVEMBER 01, 2002 08:16 AM
TORONTO, ONTARIO, Oct 31, 2002 (CCNMatthews via COMTEX) -- Company Organizes for Sales Growth
Perle Systems Limited (OTCBB: PERL; TSE: PL), a leading provider of networking products for Internet Protocol ("IP") and e-business access, today reported unaudited financial results for the first quarter fiscal 2003 ended August 31, 2002.
Financial Highlights
Based on US GAAP, the Company's revenue for the first quarter of fiscal 2003 totaled US$5.3 million, compared to revenue of US$7.7 million for the first quarter of fiscal 2002.
This reduction in sales was due to poor economic conditions in our largest European markets, including the United Kingdom, France and Germany, combined with the traditional European summer slowdown. In North America, we reorganized our entire distribution channel to lay the groundwork for sales growth in the coming quarters. This reorganization had the result of inhibiting sales during the quarter. Sales in the Asia-Pacific region, especially China, were maintained. In addition to these factors, we experienced some production backlogs, which prevented meeting all of the demand during the quarter. We anticipate clearing this backlog during the second quarter.
Disciplined cost controls and stable gross margins offset the lower sales revenue to some extent and the cash loss or net operating loss for the quarter was approximately US$478,000 compared to a net cash loss or operating loss of approximately US$172,000 in the same period last year. Cash loss per share was US$0.05 for the quarter compared to a cash loss per share of US$0.02 in the same period last year.
Net cash loss or net operating loss and cash loss per share figures exclude acquisition-related amortization, depreciation of capital assets and intangibles and one time costs. There were no one-time costs in the first quarter of this year or last year.
Chief Executive Officer's comments:
"Our goal in fiscal 2003 is to continue to deliver operating profitability and sales growth."
"During the first quarter we continued with research and development programs to concentrate on our higher growth product lines with the intention of bringing leading technology at value prices to the market", stated Joe Perle, President and Chief Executive Officer.
"Our marketing campaigns have taken a more aggressive approach and we have restructured our distribution channel, in particular in North America, to better service our VAR's and in so doing, to help drive demand for our products. We are already seeing some of the benefits in the second quarter and I remain confident of the long term outlook for Perle."
Chief Financial Officer's comments:
"Having restored the Company to operating profitability in fiscal 2002, we are taking steps to further strengthen the Company in fiscal 2003. We continue to focus on the fundamentals of building sales, improving margins and operating efficiencies while containing costs," stated Derrick Barnett, Vice President, Finance and Chief Financial Officer. "We are particularly encouraged by the terms of the new credit agreement with our bankers, which we recently announced and believe that this will provide Perle with the working capital needed to continue on its path to attain full profitability and further growth."
Company Profile
Perle Systems is a leading developer, manufacturer and vendor of award-winning networking products. These products are used to connect remote users reliably and securely to central servers for a wide variety of e-business and general business applications. Perle specializes in Internet Protocol (IP) connectivity applications, with an increasing focus on mid-size IP routing solutions. Product lines include routers, remote access servers, serial/console servers, emulation adapters, multi-port serial cards, multi-modem cards, print servers and network controllers. Perle distinguishes itself by its ownership of extensive networking technology, depth of experience in major network connectivity environments and long-term channel relationships in major world markets. Perle Systems has offices and representative offices in 12 countries in North America, The United Kingdom, Europe and Asia and sells its products through distribution channels worldwide. Its stock is traded on the OTCBB (symbol PERL) and the Toronto Stock Exchange (symbol PL). For more information about Perle and its products, access the Company's Web site at http://www.perle.com.
Forward-looking statements in this release, including statements relating to the Company's future growth prospects, future profits, anticipated revenue and earnings results, revenue and earnings guidance for fiscal 2003, production backlogs and the success of the Company's growth and restructuring initiatives are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the company's ability to maintain compliance with the covenants contained in its credit agreement, to meet its sales forecasts while maintaining control over its costs, to continue to operate as a going concern, the Company's ability to manage growth, the implementation of the Company's restructuring plan, the impact of FASB 141 and FASB 142 on the Company's results of operations and financial condition, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the United States Securities and Exchange Commission and Canadian securities regulators.
- Financial statements to follow -
PERLE SYSTEMS LIMITED
CONSOLIDATED BALANCE SHEETS
(US dollars)
---------------------------------------------------------------------
As at August 31, 2002 May 31, 2002
---------------------------------------------------------------------
ASSETS (Unaudited) (audited)
Current:
Cash and cash equivalents $389,670 $470,064
Accounts receivable 4,138,174 5,716,445
Inventories 3,553,593 3,646,673
Prepaid expenses 186,782 284,654
Income taxes receivable 241,723 227,728
---------------------------------------------------------------------
Total current assets 8,509,942 10,345,564
---------------------------------------------------------------------
Capital assets, net 780,236 832,247
Other assets 463,138 496,604
Technology, net 1,359,565 1,542,946
Brand names, net 1,588,266 1,737,573
Sales channel, customer list and
distribution rights, net 1,705,223 1,886,840
Goodwill 7,177,405 7,320,079
---------------------------------------------------------------------
Total assets $21,583,775 $24,161,853
---------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
(DEFICIENCY)
Current:
---------------------------------------------------------------------
Bank indebtedness $8,669,381 $8,683,648
Accounts payable and accrued liabilities 5,436,527 6,334,023
Income taxes payable 111,522 109,280
Deferred revenue 1,306,694 1,225,808
Current portion of long-term loan 288,665 736,500
Current portion of notes payable 335,802 463,341
Current portion of obligation under
capital lease 54,011 52,923
---------------------------------------------------------------------
Total current liabilities 16,202,602 17,605,523
---------------------------------------------------------------------
Long-term loan 7,240,683 7,389,523
Notes payable - -
Obligation under capital lease 15,584 26,910
Accrued facilities cost 89,034 90,768
Deferred tax liabilities 1,162,317 1,300,121
---------------------------------------------------------------------
Total liabilities 24,710,220 26,412,845
---------------------------------------------------------------------
Commitment and contingencies
Shareholders' Equity (Deficiency):
Share capital - Authorized: Unlimited
Common Shares, issued and
outstanding: 9,592,293
(2002 - 9,592,293) 33,770,304 33,770,304
Cumulative translation account (1,825,726) (1,880,443)
Deficit (35,071,023) (34,140,853)
---------------------------------------------------------------------
Total Shareholders' equity (deficiency) (3,126,445) (2,250,992)
---------------------------------------------------------------------
Total liabilities and shareholders'
equity (deficiency) $21,583,775 $24,161,853
---------------------------------------------------------------------
---------------------------------------------------------------------
PERLE SYSTEMS LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS
(US dollars)
--------------------------------------------------------------------
For the three month
period ended August 31, 2002 August 31, 2001
--------------------------------------------------------------------
(Unaudited) (Unaudited)
Sales $5,308,630 $7,665,991
--------------------------------------------------------------------
Expenses:
Cost of sales 2,251,761 3,209,953
Selling, general and
administration 2,364,664 3,501,335
Research and development
expenditures (net of
ITCs) 846,481 684,164
Amortization of
intangible assets 408,207 657,499
Depreciation of capital
assets 43,585 73,217
Interest expense 436,470 556,353
--------------------------------------------------------------------
Total expenses 6,351,168 8,682,521
Loss before income taxes (1,042,538) (1,016,530)
Income tax expense
(recovery) (112,368) (113,734)
--------------------------------------------------------------------
Net loss for the year $(930,170) $(902,796)
--------------------------------------------------------------------
--------------------------------------------------------------------
Loss per Common Share -
basic and diluted $(0.10) $(0.10)
--------------------------------------------------------------------
--------------------------------------------------------------------
Weighted average number
of shares outstanding 9,592,293 9,592,293
--------------------------------------------------------------------
--------------------------------------------------------------------
PERLE SYSTEMS LIMITED
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIENCY)
(US dollars)
--------------------------------------------------------------------
For the three month period
ended August 2002 2001
--------------------------------------------------------------------
Common Share Capital: (Unaudited) (Unaudited)
--------------------------------------------------------------------
Shares
Opening balance 9,592,293 9,592,293
--------------------------------------------------------------------
Closing balance 9,592,293 9,292,293
--------------------------------------------------------------------
--------------------------------------------------------------------
Amount
Opening balance $33,770,304 $33,770,304
--------------------------------------------------------------------
Closing balance $33,770,304 $33,770,304
--------------------------------------------------------------------
Other comprehensive income:
Opening balance $(1,880,443) $(1,838,849)
Net change for the period 54,717 8,647
--------------------------------------------------------------------
Closing balance $(1,825,726) $(1,830,202)
--------------------------------------------------------------------
Deficit:
Opening balance $(34,140,853) $(28,858,672)
Net loss for the period (930,170) (902,796)
--------------------------------------------------------------------
Closing balance (35,071,023) (29,761,468)
--------------------------------------------------------------------
Total shareholders' equity
(deficiency) $(3,126,445) $2,178,634
--------------------------------------------------------------------
--------------------------------------------------------------------
PERLE SYSTEMS LIMITED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(US dollars)
--------------------------------------------------------------------
For the three months ended
August 2002 2001
--------------------------------------------------------------------
Cash provided by (used in):
Operating activities
Net loss for the year $(930,170) $(902,796)
Add (deduct) items not
affecting cash:
Amortization of intangible
assets 408,207 657,499
Depreciation of capital
assets 43,585 73,217
Amortization of deferred
financing cost 23,622 -
Deferred income taxes (112,368) (113,734)
--------------------------------------------------------------------
(567,124) (285,814)
Net change in non-cash
working capital balances
related to operations 908,802 1,257,743
--------------------------------------------------------------------
Cash provided by (used in)
operating activities 341,678 971,929
--------------------------------------------------------------------
Investing activities
Additions to capital assets (8,331) (55,259)
Purchase of technology
and other intangible
assets - (318,857)
--------------------------------------------------------------------
Cash used in investing
activities (8,331) (374,116)
--------------------------------------------------------------------
Financing activities
Increase (decrease) in
bank indebtedness 164,171 44,122
Deferred financing cost - (65,287)
Repayment of notes payable (107,013) (21,037)
Repayment of obligation
under capital lease (8,597) (1,556)
Increase in long-term loan - -
Repayment of long-term (447,835) (220,779)
--------------------------------------------------------------------
Cash provided by (used in)
financing activities (399,274) (264,537)
--------------------------------------------------------------------
Effect of exchange rate
changes on cash and cash
equivalents (14,467) (3,924)
--------------------------------------------------------------------
Net increase (decrease) in
cash and cash equivalents
during the year (80,394) 329,352
Cash and cash equivalents,
beginning of the year 470,064 962,046
--------------------------------------------------------------------
Cash and cash equivalents,
end of the year $389,670 $1,291,398
--------------------------------------------------------------------
--------------------------------------------------------------------
Components of net change in
non-cash working capital
balances related to
operations:
Accounts receivable $1,482,258 $1,280,619
Inventories 16,108 292,618
Prepaid expenses 93,072 (14,721)
Income taxes (13,846) 20,039
Accounts payable and accrued
liabilities (772,516) (252,435)
Deferred revenue 103,726 (68,377)
--------------------------------------------------------------------
$908,802 $1,257,743
--------------------------------------------------------------------
--------------------------------------------------------------------
Supplemental cash flow
information:
Interest paid $436,750 $274,713
Income taxes paid $41,224 $46,080
--------------------------------------------------------------------
--------------------------------------------------------------------
Non-cash investing and
financing activities:
Vendor take back debt - $261,148
--------------------------------------------------------------------
--------------------------------------------------------------------
GMED - News: http://www.investorshub.com/boards/read_msg.asp?message_id=562197
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
GMED - News: http://www.investorshub.com/boards/read_msg.asp?message_id=556986
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
PRINGY, France--(BUSINESS WIRE)--Oct. 28, 2002--Blue Industries, Inc. (OTCBB:BLII - News) announced today that it has completed a 1 share for 20 reverse split of its outstanding common stock.
http://biz.yahoo.com/bw/021028/280498_1.html
New "..enviro-techie.." board for OZLU: http://www.investorshub.com/boards/board.asp?board_id=1394
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
FTTI One to watch. Low floater. See chart >>>>>
Stock charts:
http://stockcharts.com/def/servlet/SC.web?c=FTTI,uu[w,a]daclyiay[db][pc20!c50][vc60][iUl14!Lk14]&...
With a little volume, this one is off to the races. Merger in progress, see news. Float is only 1-4 million.
Dream
LINK first profit in six quarters!
CAMARILLO, Calif., Oct 24, 2002 (BUSINESS WIRE) -- Interlink Electronics, Inc. (LINK, Trade), the world's leading developer of intuitive interface technologies and solutions for business and home applications, today announced its financial results for the third quarter of 2002. Revenues for the three months totaled $6.6 million -- up 10% as compared to $6.0 million for the second quarter of this year. The Company generated its first operating profit in six quarters, yielding a $30,000 operating profit in the third quarter as compared to an operating loss of $283,000 in the second quarter of this year. The net results for the third quarter of 2002 showed net income of $40,000 or break-even on a per share basis as compared to a loss of $333,000 or $0.03 loss per diluted share reported in the second quarter of 2002.
"We are very pleased with the Company's financial performance in the third quarter," said E. Michael Thoben, chairman, CEO and president. "We improved revenues by 10%, giving us two consecutive quarters of double-digit growth. This is particularly encouraging in light of the negative macro-economic factors influencing most technology companies. While it remains difficult to maintain much long term visibility under current market conditions, our shorter term expectations remain very positive and we expect to continue on a similar growth track.
"The Company's return to profitability is clearly a milestone. This accomplishment is attributed to not only the recent sales growth, but to the company's recently stream-lined structure and record operating efficiencies," continued Mr. Thoben. "Cash flow also remained strong as our positive operating cash flow of nearly $400,000 enabled us to complete the repayment of some of our Japanese loans without significant impact on our overall cash balance.
"Our business communications segment performed well again this quarter and accounted for 63% of our total worldwide revenues," added Mr. Thoben. "Our top OEMs in Asia and North America both continued to show progress over the last quarter, improving revenue by 8%. The Company's business communications branded business also continued to show steady progress at a modest 5%. We expect stronger fourth quarter growth in branded product sales as seasonality influences retail buying patterns.
"Our e-transactions business also continued to achieve record sales growth as well as solid market momentum during the third quarter," said Mr. Thoben. "This revenue growth was largely attributed to reorders from several of our existing key customers, such as Prudential, Walgreens, Charles Schwab and Ford Credit.
"We also continued building strategic relationships in vertical markets as part of our strategy to ensure ePad is the standard for electronic signatures. Specifically, we made significant progress in both drug testing and security/ID card vertical markets, announcing relationships with eScreen, Inc. and Viisage Technology, Inc. eScreen, who develops and markets rapid employment drug screening devices, currently processes millions of healthcare data transactions per year. As a first step, we have integrated ePad e-signature capability into their eScreen point-of-care drug screening products.
"Additionally, last week we announced that we had established a strategic partnership with Viisage Technology, Inc., who delivers more than 25 million digital-identification documents to federal, state and local government agencies issuing digital drivers' licenses, identity cards, social services cards and local law enforcement credentials. The first deployment of Interlink's ePad electronic signature solution with Viisage's image capture and facial recognition system is taking place at the Rhode Island Department of Motor Vehicles."
About Interlink Electronics, Inc.
Interlink Electronics, Inc. (LINK, Trade) is a global leader in the design and manufacture of intuitive interface technologies and products. Creating today's interface standards, our business communications, e-transactions, home entertainment and specialty businesses have established Interlink as the comprehensive source for branded and OEM solutions. Selected customers include Dell, HP/Compaq, InFocus, Microsoft, Mitsubishi, NEC, Sanyo, Sharp, Sony and Toshiba.
Recognized worldwide for innovative interface technologies and solutions, Interlink Electronics, Inc. serves a world-class customer-base from its corporate headquarters in Camarillo, CA and offices in Tokyo and Hong Kong. The company currently holds more than 70 patents protecting its Force Sensing Resistor (FSR(R)), VersaPoint(R) Pressure Pointing, VersaPad(R) pen input pad and RemoteLink(R) wireless communication technologies. See LINK online at http://www.interlinkelectronics.com/ or in Japan at http://www.interlinkelec.co.jp/.
All registrations and trademarks are properties of their respective owners.
Summarized Consolidated Statements of Operations
(000s except per share data)
Three Months Nine Months
Ended Sept. 30, Ended Sept. 30,
(unaudited) (unaudited)
2002 2001 2002 2001
Revenue $ 6,629 $ 6,036 $18,065 $19,964
Gross profit 2,701 2,464 7,442 6,590(1)
Product development &
research 748 839 2,481 2,684
Sales, marketing &
administration 1,923 2,218(2) 5,653 6,400(2)
Total operating expenses 2,671 3,057 8,134 9,084
Operating income (loss) 30 (593) (692) (2,494)
Other income 10 16 -- 183
Provision for tax expense
(benefit) -- (115) -- (764)
Net income (loss) $ 40 $ (462) $ (692) $(1,547)
Earnings (loss) per
share -- basic $ -- $ (.05) $ (.07) $ (.16)
Earnings (loss) per
share -- diluted $ -- $ (.05) $ (.07) $ (.16)
(1) Includes $2 million excess inventory reserve adjustment in second
quarter, 2001.
(2) Includes $50,000 in severance charges in second quarter, 2001 and
$300,000 adjustment to bad debt reserves in third quarter, 2001.
Selected Consolidated Balance Sheet Data (000s)
Sept. 30, Dec. 31,
2002 2001
(unaudited)
Cash and cash equivalents $ 8,222 $ 9,325
Working capital 18,759 19,333
Total assets 26,207 26,641
Long-term debt 1,637 1,855
Stockholders' equity 19,635 20,305
From time to time the Company may issue forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower than expected customer orders; delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward-looking statements contained in this document regarding industry and revenue trends, seasonality, sales channels, industry product acceptance and future business activities should be considered in light of these factors.
Conference Call Information
Thursday, October 24, 2002 at 1:30 p.m. PT
Live Call-in #: 888-455-3620
Live International Call-in #: 312-470-7325
(Pass Code: "link")
Web cast address: http://www.interlinkelectronics.com
Telephonic replay available until October 29, 2002
Telephonic replay call in # (US) 800-945-7650
or (Intl) 402-220-3567
Interlink Electronics, Inc., Camarillo
http://www.interlinkelectronics.com
Investor Contact:
Michelle Lockard, 805/484-8855, ext. 114
mlockard@interlinkelectronics.com
Press Contact:
Keith M. Roberts, 805/484-8855, ext. 130
kroberts@interlinkelectronics.com
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Sara
Go Giants! Go 49ers!
GMED - News: http://www.investorshub.com/boards/read_msg.asp?message_id=550603
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Considering the recent run of CTKT, I would suggest taking a peek at BMKS which has been laying fallow for a considerable period of time.
At 0.005 it is definitely in 'collectible mode', the company is quietly humming right along not too far from Peachtree street, they have new gaming products and machines in the pipeline, and any positive News could light it's candle.
They owe some money on a .Com meltdown judgement to a creditor, but have negotiated a decent pay-out deal. As the business grows the creditor gets his bucks and goes away; so there is no reason for the recipient to act like a horses patoot.
DYODD, could be very profitable.
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
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John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
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John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
ECSN (OTCBB) Encision Reports Profit on Record Revenues; Q2 Revenue Up 43%
MONDAY , OCTOBER 21, 2002 09:01 AM
BOULDER, Colo., Oct 21, 2002 /PRNewswire-FirstCall via COMTEX/ -- Encision Inc. (OTC Bulletin Board: ECSN) today reported a net income and record revenues for its fiscal 2003 second quarter ended September 30, 2002.
The Company achieved revenues for its fiscal second quarter of $1,754,000, a 43 percent increase over revenues of $1,225,000 for the quarter ended September 30, 2001. The Company reported a net income of $95,000 or $0.02 per share, compared to a net income of $34,000 or $0.01 per share in the second quarter of last fiscal year.
Revenues for the six months ended September 30, 2002 of $3,096,000 represented a 38 percent increase over prior fiscal year's six months revenues of $2,251,000. Net income of $5,000 or $0.00 per share for the current fiscal year's six months compares to a net loss of $35,000 or $0.01 per share for the prior fiscal year's six months. Gross profit margin for the six months just ended was 61 percent compared to 57 percent in the prior year. The Company is cash flow positive year-to-date.
"New hospital conversions to our AEM(R) surgical instruments are providing market share gains and top line revenue growth," said James A. Bowman, President and CEO of Encision. "We converted 42 new hospitals to AEM instruments during Q2, a record number for any quarterly period in the history of the Company."
"The ongoing revenues from our installed base of customers remains solid due to strong customer retention," added Mr. Bowman. "Over 250 hospitals have now standardized on AEM instruments to advance patient safety and patient outcome in minimally-invasive surgery."
A recent issue of Healthcare Purchasing News magazine highlighted Encision's technology, stating that "...AEM technology greatly minimizes the potential for unintended tissue burns, decreases a hospital's liability, meets the new JCAHO hospital accreditation standards and optimizes outcomes."
Encision Inc. designs and manufactures innovative surgical devices that allow the surgeon to optimize technique and patient safety during a broad range of surgical procedures. Based in Boulder, Colorado, the Company pioneered the development of patented AEM(R) Laparoscopic Instruments to improve electrosurgery and reduce the chance for patient injury in minimally invasive surgery.
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to increase revenues through the Company's distribution channels, insufficient quantity of new account conversions, insufficient cash to fund operations, scale up production to meet delivery obligations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission.
For further information please contact: Marcia McHaffie, Controller of Encision Inc., +1-303-444-2600 ext. 101.
ENCISION INC.
Results of Operations
(Unaudited)
For Three Months Ended September 30,
2002 2001
Net Revenue $1,753,873 $1,224,525
Cost of Revenue $685,796 $486,516
Gross Profit $1,068,077 $738,009
Gross Margin 61% 60%
Operating Expenses $978,454 $708,452
Operating Income $89,623 $29,557
Net Income $95,270 $33,753
Basic and Diluted
Net Income per Share $0.02 $0.01
For Six Months Ended September 30,
2002 2001
Net Revenue $3,096,265 $2,251,445
Cost of Revenue $1,198,856 $959,885
Gross Profit $1,897,409 $1,291,560
Gross Margin 61% 57%
Operating Expenses $1,896,573 $1,337,768
Operating Income (Loss) $836 $(46,208)
Net Income (Loss) $4,619 $(34,709)
Basic and Diluted Net Income
(Loss) per Share $0.00 $(0.01)
ENCISION INC.
Balance Sheet
(Unaudited)
September 30, March 31,
2002 2002
Cash and Cash Equivalents $597,725 $500,988
Current Assets 2,323,385 2,244,766
Total Assets 2,636,144 2,413,445
Current Liabilities 842,888 640,758
Shareholders' Equity 1,793,256 1,772,687
Total Liabilities and
Shareholders' Equity $2,636,144 $2,413,445
FONX (OTCBB) NEC Electronics and Fonix Announce Availability of Speech Recognition Software For NEC's VR4122 and VR4131 Microprocessors Used in Automotive Applications
Companies Team Together to Deliver Complete Speech Interface Solution For Automotive Applications Requiring Hands-Free Operation
MONDAY , OCTOBER 21, 2002 08:01 AM
CONVERGENCE CONFERENCE 2002, DETROIT, Oct 21, 2002 /PRNewswire via COMTEX/ -- NEC Electronics Inc. and Fonix Corporation (OTC Bulletin Board: FONX), a leading provider of natural-user interface technology and voice solutions, today announced that the Fonix Speech Interface Software Solutions now support NEC's highly integrated VR4122(TM) and VR4131(TM) 64-bit MIPS(R)-based microprocessors. The processors and software target automotive applications that can benefit from hands-free operation, such as cell phone dialing, navigation systems, Internet access, climate control and entertainment functions. NEC Electronics and Fonix will demonstrate this solution in their respective booths #233 and #116 at the Convergence Conference 2002 in Detroit, October 21-23.
"Speech interface solutions will be a must-have for many of tomorrow's automotive systems," said Yukio Kabeya, general manager, automotive strategic business unit, NEC Electronics Inc. "By offering a complete solution in conjunction with Fonix, we can simplify system designs and enable our customers to focus on other aspects of their projects. Today's announcement further demonstrates NEC Electronics' commitment to work with strategic software partners to enable our customers to save resources and significantly reduce overall development time."
"Speech is a natural interface and an ideal way to improve safety, particularly in vehicles where electronic systems are growing increasingly complex," said Lynn Shepherd, vice president and general manager of the Wireless & Mobile Group at Fonix Corporation. "Fonix is committed to delivering market-leading solutions to the automotive market and is pleased to work with NEC Electronics due to its long-standing reputation as one of the top semiconductor suppliers in this industry."
Fonix automotive solutions provide "hands-free" control and can improve safety and driver satisfaction by using interactive, highly intelligible speech dialogues to initiate cellular phone calls, check e-mail, get directions from a navigational system or subscriber service, control basic vehicle functions and access other types of information.
The Fonix proprietary Neural Network Technology enables accurate speech recognition, particularly in noisy environments, and does not require the user to train his or her voice to the system. The neural network architecture is well suited to NEC's VR Series(TM) 64-bit MIPS-based microprocessors because of their enhanced architecture and support for DSP-type (digital signal processor) instructions to enable greater speech functionality and performance to end users.
NEC's VR Series microprocessors provide comprehensive solutions for embedded system designers at a variety of performance/price points. NEC Electronics' broad portfolio of high-speed, highly integrated 64-bit processors is ideally suited for automotive applications that require high performance and the ability to support multimedia functionality such as navigation and entertainment systems. Developed around the MIPS architecture, all of the VR Series microprocessors are forward code-compatible and highly scaleable, allowing application software to be used across the series of processors with only minor modifications. Furthermore, NEC Electronics is committed to providing complete design environment support for its VR Series microprocessors by offering a wide range of companion chipsets, development platforms and a comprehensive set of development tools.
Availability
NEC's VR4122 and VR4131 microprocessors are available in mass production, and Fonix' Speech Interface Software Solution is available now. For more information, contact voicerec@el.nec.com.
About NEC Electronics' Automotive Strategic Business Unit
NEC Electronics' Automotive Strategic Business Unit (SBU) offers a wide range of 64-bit MIPS microprocessors and application-specific microcontrollers for automotive systems such as body control, dashboard, airbag, engine control and multimedia systems. The Automotive SBU leverages NEC Corporation's worldwide resources with highly experienced staff in the United States, Japan and Europe. Furthermore, NEC Corporation's worldwide manufacturing facilities are QS-9000 certified to meet the high-quality standards of customers in the North American automotive industry.
About NEC Electronics Inc.
NEC Electronics Inc., headquartered in Santa Clara, Calif., is one of the leading developers, manufacturers and suppliers of semiconductor products in the United States. Committed to meeting customers' cost, performance and time-to-market requirements, the company offers solutions ranging from standard products to system-on-a-chip (SoC) solutions, as well as customized products for next-generation designs. NEC Electronics also offers customers the benefits of a local manufacturing facility in Roseville, Calif., and the global manufacturing capabilities of its parent company, NEC Corporation (Nasdaq: NIPNY). For more information about products offered by NEC Electronics Inc., visit the NEC Electronics website at http://www.necel.com .
About Fonix
Fonix Corporation is a leading provider of natural-user interface technology solutions for wireless and mobile devices, Internet and telephony systems, and vehicle telematics. Leading chip manufacturers, independent software and hardware vendors, and Internet content and service providers incorporate Fonix technology to provide their customers with an easier and more convenient user experience. Fonix products, including Text-To-Speech (TTS), Automatic Speech Recognition (ASR), and Handwriting Recognition (HWR), provide the most natural communication solutions available. For more information, visit www.fonix.com or call 801-553-6600.
The statements released by Fonix Corporation that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, include statements regarding the Company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the Company's business prospects and performance. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. Risk factors include general economic, competitive, governmental, and technological factors as discussed in the Company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The Company does not undertake any responsibility to update the forward-looking statements contained in this release.
NOTE: NEC Electronics Inc., VR Series, VR4122 and VR4131 are either registered trademarks or trademarks of NEC Corporation in the United States and/or other countries. MIPS is a registered trademark of MIPS Technologies, Inc. Fonix is a registered trademark of Fonix Corporation In the United States and/or other countries. All other registered trademarks or trademarks are property of their respective owners.
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SOURCE NEC Electronics Inc.
CONTACT: Denise Viereck Garibaldi of NEC Electronics Inc.,
+1-408-588-6620, or denise_garibaldi@el.nec.com; or Bob Nelson of Porter
Novelli, +1-408-369-1500, ext. 24, or bob.nelson@porternovelli.com, for NEC
Electronics Inc.; or Peter Foss, +1-801-553-6600, or mediarel@fonix.com, or
investors, Michelle Aamodt, +1-801-328-0161, or invrel@fonix.com, both of
Fonix Corporation; or Steve Simon of S&S Public Relations, Inc.,
+1-847-955-0700, ext. 237, or steve@sspr.com, for Fonix Corporation
URL: http://www.fonix.com
http://www.necel.com
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KNOT (OTCBB) Oxygen and The Knot Get Hitched for Television Miniseries, "Real Weddings From The Knot"
Weeklong Televised Special Profiles Six Couples as They Plan Their Weddings -- Premieres Monday, January 20, 2003 at 7:30 p.m.
MONDAY , OCTOBER 21, 2002 07:30 AM
NEW YORK, Oct 21, 2002 (BUSINESS WIRE) -- The Oxygen Network and The Knot (www.theknot.com; AOL Keyword: weddings), the #1 wedding website, have partnered to bring the real stories behind real weddings to the television screen with a set of specials that will anchor Oxygen's Weddings Week (January 20 - 26, 2003). Filmed in reality style, "Real Weddings from The Knot" follows six couples in the weeks leading up to their trips down the aisle, providing viewers with a sneak peek into the good, the bad and the endlessly entertaining stories involved with planning a wedding.
Oxygen's Weddings Week starts Monday, January 20 at 7:30 p.m. with the premiere of "Real Weddings from The Knot." Slated to air each night that week at 7:30 p.m., each new episode of "Real Weddings from The Knot" will focus on a different couple as they prepare for their big day.
In addition, Oxygen will re-air the five original shows in two three-hour "Real Weddings from The Knot" marathons over the January 25-26 weekend, along with a new bonus episode. Carley Roney, editor in chief and cofounder of The Knot, will host the marathons.
Throughout the week, visitors to TheKnot.com will be able to find detailed information about the featured weddings -- from the gowns and flowers to the reception sites and favors.
Oxygen's Weddings Week with The Knot also features The Watch & Win "Counting Kisses" Sweepstakes, where viewers log on to www.oxygen.com/weddings for a chance to win prizes including an exotic Hawaiian getaway for two. Promotions for the miniseries and the sweepstakes will appear online at TheKnot.com, Oxygen.com and in The Knot's print publications, including various WEDDINGPAGES(R) magazines from November 2002 through January 2003.
"We are very excited to be in partnership with The Knot because it allows us to engage our viewers in the real stories of couples as they plan this emotional and intimate milestone in their lives," commented Oxygen Chairman and CEO Geraldine Laybourne. "By combining forces with the #1 wedding resource, we have been able to create a unique, fresh and accurate looking glass into the wedding planning process while providing top-notch entertainment for our viewers."
"Over the past six years, we have been privileged to be a part of the wedding planning process of millions of brides and grooms across the country," said David Liu, cofounder and CEO of The Knot. "We are thrilled to share some of our favorite stories from the popular REAL WEDDINGS series on TheKnot.com and in pages of our magazines with a televised audience through `Real Weddings from The Knot' and our partnership with the outstanding woman's cable network, Oxygen."
Kit Laybourne and Kathleen Minton Catapano serve as the executive producers for "Real Weddings from The Knot." Their work also includes Oxygen's series on women in law enforcement, "Women and the Badge," now entering its second season.
About Oxygen Media
Oxygen Media is a 24-hour cable television network that puts a fresh spin on television for women. With original series by Oprah Winfrey, Isaac Mizrahi, Candice Bergen and Carrie Fisher, Oxygen provides more original programming than any other women's network. Founded in 1998, the network is independently owned and currently available in 43 million cable households. Oxygen Media also owns and operates two websites: www.oxygen.com and www.oprah.com.
About The Knot
The Knot Inc. (OTCBB: KNOT; www.theknot.com; AOL keyword: weddings) is one of the world's leading wedding media and services companies, providing today's to-be-weds with comprehensive wedding planning information, interactive tools, and resources. Its award-winning website, TheKnot.com, is the leading online wedding destination and the premier wedding content provider on America Online, MSN, Yahoo! and several other of AOL's leading brands.
The Knot also offers a diverse collection of wedding-planning print publications. The Knot produces a national publication, THE KNOT Magazine, and, through its subsidiary Weddingpages, Inc., publishes WEDDINGPAGES, regional wedding magazines that reach dozens of U.S. cities. In addition, the company publishes a wedding-planning book trilogy with Random House's Broadway Books and a gift book series with Chronicle Books. The Knot is based in New York and has several other offices across the country.
This press release may contain projections or other forward-looking statements regarding future events or the future financial performance of The Knot. These statements are only predictions and reflect the current beliefs and expectations of The Knot. It is routine for our internal projections and expectations to change as the quarter progresses, and therefore it should be clearly understood that the internal projections and beliefs upon which The Knot bases its expectations may change prior to the end of the quarter. Although these expectations may change, we will not inform you if they do. The Knot's policy is to provide our expectations only once per quarter, and not to update that information until the next quarter. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation, (i) The Knot's unproven business model and limited operating history, (ii) The Knot's history of losses and expectation of significant losses for the foreseeable future, (iii) the significant fluctuation to which The Knot's quarterly revenues and operating results are subject, (iv) the seasonality of the wedding industry and (v) other factors detailed in documents The Knot's files from time to time with the Securities and Exchange Commission, including its recent filings on Forms 10-K and 10-Q. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
- All Times ET/PT
CONTACT: The Knot, New York
Amy Shey Jacobs, 212/219-8555 x 1246
ashey@theknot.com
or
The Oxygen Network, New York
Christina Campanile, 212/651-9305
ccampanile@oxygen.com
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ENVA (OTCBB) Enova and Hyundai Heavy Industries to Create Joint U.S. Research and Development Center
MONDAY , OCTOBER 21, 2002 06:01 AM
BUSAN, Korea & TORRANCE, Calif., Oct 21, 2002 (BUSINESS WIRE) -- Enova Systems, Torrance, California (OTCBB: ENVA) announced today that it has agreed in principle with Hyundai Heavy Industries, Co, Ltd. (HHI) to establish a joint venture for an advanced technology center (ATC) for research and development to be domiciled at Enova's Torrance California headquarters.
The ATC's mission will be to advance current technologies and create new intellectual property and products which may then be manufactured by HHI for world markets in commercial, industrial and residential applications. It is anticipated that the ATC will be initially funded with US$6.0 million from HHI to pursue research and development projects in advanced power management and conversion programs for stationary power applications. Additional programs may also be funded by either partner or through third-party contracts. Enova and HHI desire to commence operations of the ATC in early 2003 assuming that the parties reach a final consensus on all terms and enter into a definitive agreement before year-end.
The ATC venture builds on more than six years of experience garnered by Enova Systems working in alliance with various Hyundai companies. Starting with Hyundai Motor Company (HMC) and Hyundai Electronics (now Hyundai Autonet), Enova entered into a technology transfer and equity purchase in 1996. Numerous programs, including hybrid-electric, fuel cell hybrid and parallel hybrid drive systems, have been developed through the HMC-Enova alliance. As Enova moved into production systems, it utilized the alliances with HHI and Autonet to manufacture its products for such customers as Ford, Ballard and AVS. Currently, components of the Panther 90, 120 and 240kW drive systems are manufactured by HHI.
Key-Sik Min, President & CEO of Hyundai Heavy Industries said, "We believe this joint research and development project with Enova Systems will allow our companies to enter into new high technology business areas. We believe this will transform our presence in these markets, which has thus far been relatively small, to that of a global leader in the 21st century." President Min also added that "We believe the partnership between Hyundai Heavy Industries Co. Ltd. and Enova Systems Inc. will create opportunities for us to develop new technologies and products efficiently in the areas of power conversion for mobile and stationery energy systems. The Advanced Technology Center established on the basis of both parties' technologies and mutual faith will be key to opening the door to the future for both our customers and ourselves."
Carl Dean Perry, president and CEO, stated, "Our strong alliance with the Hyundai companies continues to bear fruit. We believe this new partnering with Hyundai Heavy Industries will further establish Enova as a global player in digital power management. The combined strengths of our two companies should enable us to enhance our ability to bring new leading edge technologies to market faster and more economically than we could individually. Hyundai Heavy Industries recognizes Enova's ability to provide leading edge technologies and products in the areas of power and process control and management in mobile and stationary energy systems. This teaming further underscores both these abilities and the commitment between Enova and Hyundai Heavy Industries for the future."
Hyundai Heavy Industries, headquartered in Ulsan Korea, is an international integrated heavy industries company operating various businesses including the world's largest Shipbuilding Business; the Engine & Machinery Business (manufactures engines for ships and industrial power generation, machine tools, industrial machinery, robots, and factory automation facilities); the Industrial Plant Business (atomic power facilities, power generation facilities, chemical facilities, etc); the Offshore & Engineering Business (manufactures and installs industrial steel structures, natural gas production facilities, etc); Electro Electric Systems Business (transformers, switchgears, generators and motors, SF6 gas insulated switchgears, circuit breakers, power electronics); Construction Equipment Business; and other business such as steel tower production.
Enova Systems, with headquarters in Torrance California, and offices in Hawaii and South Korea, is a leading designer, developer, and manufacturer of power management and conversion systems for the global mobile and stationary alternative energy market. The Company's technology and products in power conversion, energy management, and system integration enable Enova Systems to integrate a wide range of power sources, including advanced batteries, fuel cells, and turbine generators, in these power applications. The Company's product lines include the Panther(TM) propulsion systems ranging from 30kW to 240kW, DC-DC supplies for low voltage accessories, and power management systems for batteries, fuel cells, turbines and other components. Enova's propulsion systems and components are used in OEM vehicles from Hyundai Motor Company and Ford. Enova also develops and manufactures propulsion systems for transit buses and airport trams. For more product details and other news see the Enova Web site at www.enovasystems.com.
This news release contains forward-looking statements relating to Enova Systems and its products. These forward-looking statements are subject to and qualified by certain risks and uncertainties. Such statements do not imply the future success of the Company or its products. These risks and uncertainties are detailed from time to time in Enova Systems' filings with the Securities and Exchange Commission under the name Enova Systems, Inc.
CONTACT: Enova Systems
Edward Moore, 310/527-2800, Ext. 114
Vice President, Marketing & Sales
edmoore@enovasystems.com
Larry Lombard, 310/527-2800, Ext. 103
Finance & Admin.
llombard@enovasystems.com
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FONX (OTCBB) Fonix(R) Delivers Speech Solution to Motorola's mGT5100 Automotive Telematics Development Platform
Fonix(R) Provides Fast, Market-Ready Speech Solutions for mGT5100 Microprocessor, Part of Motorola's mobileGT(TM) Driver Information Systems Initiative
MONDAY , OCTOBER 21, 2002 06:00 AM
SALT LAKE CITY, Oct 21, 2002 /PRNewswire-FirstCall via COMTEX/ -- Fonix(R) Corporation (OTC Bulletin Board: FONX), a leading provider of voice solutions for wireless and mobile devices, and Motorola, Inc.'s (NYSE: MOT) Semiconductor Products Sector (SPS), the leading provider of semiconductors to the automotive industry, today announced the integration of Fonix Embedded Speech Solution for Automotive with Motorola's total5100 Standard Development Platform. By adding the mGT5100 to its list of supported platforms, Fonix provides a powerful new way to quickly integrate market-ready Automatic Speech Recognition (ASR) and Text-To-Speech (TTS) solutions under mobileGT(TM), Motorola's industry-leading automotive telematics initiative.
The mobileGT platform, supported by a number of technology and auto systems providers, enables the latest production-ready driver information technology to be created within a single, yet customizable, development environment. mobileGT solutions benefit automakers, tier-one automotive suppliers, and ultimately drivers and passengers via a wide range of advanced entertainment, driver control, navigation, productivity, and security systems.
By supporting the total5100 standard development platform -- a powerful new addition within mobileGT based on Motorola's mGT5100 microprocessor -- Fonix greatly shortens time-to-market for mGT5100-based solutions using voice commands. The Fonix embedded speech solution allows vehicle occupants to listen, and speak, to on-board systems such as climate control, Internet or email, radios, virtual dashboards, DVD players, and much more.
"Extending our mobileGT integration to the mGT5100 Standard Development Platform is a significant expansion, one that will enable new and even more sophisticated telematics systems," said Lynn Shepherd, vice president of Product Development for Fonix. "Many automotive manufacturers are quickly moving to applications based on the mGT5100 processor due to its speed and versatility. By having the Fonix embedded speech solution available on the mGT5100, these companies can create highly reliable, production-ready speech capabilities on a greatly shortened development schedule."
"Fonix has taken its Embedded Speech Solution for mobileGT to a new level through its mGT5100 support," said Bill Pfaff, vice president and director of Motorola's Driver Information Systems operation. "This integration adds versatility and value, and gives systems designers a new rapid development solution for a wide variety of user-friendly, dependable speech interfaces."
Fonix Speech Solution is Available Through Metrowerks
As a result of today's announcement, Motorola's mobileGT total5100 Standard Development Platform now includes a 30-day evaluation copy of the Fonix Embedded Speech Solution for mobileGT. The evaluation copy, available from Metrowerks, a subsidiary of Motorola, includes a Fonix hands-free speech demo and other sample speech applications demonstrating the features of the Fonix speech solution. All applications are fully compatible with the mobileGT platform.
Also included in the Fonix Embedded Speech Solution are fully-documented TTS and ASR Application Programming Interfaces (APIs), U.S. English-speaking male and female TTS soundbanks, three ASR neural networks suitable for various applications, as well as a mGT5100 board, QNX Real Time Operating System, and Metrowerks Codewarrior Integrated Development Environment.
The Fonix Embedded Speech Solution for mobileGT, fully integrated with the total5100 Standard Development Platform, is now available for purchase through Metrowerks. To order the mobileGT Development Platform, call Metrowerks at 1-800-377-5416.
About Motorola
As the world's #1 producer of embedded processors, Motorola's Semiconductor Products Sector creates DigitalDNA(TM) system-on-chip solutions for a connected world. Our strong focus on wireless communications and networking enables customers to develop smarter, simpler, faster and synchronized products for the person, work team, home and automobile. Motorola's worldwide semiconductor sales were $4.9 billion (USD) in 2001. http://www.motorola.com/semiconductors
Motorola, Inc. (NYSE: MOT) is a global leader in providing integrated communications and embedded electronic solutions. Sales in 2001 were $30 billion. http://www.motorola.com .
About Fonix Corporation
Fonix Corporation (OTC Bulletin Board: FONX) is a leading provider of natural-user interface technology solutions for wireless and mobile devices, Internet and telephony systems, and vehicle telematics. Leading chip manufacturers, independent software and hardware vendors, and Internet content and service providers incorporate Fonix technology to provide their customers with an easier and more convenient user experience. Fonix products, including Text-To-Speech (TTS), Automatic Speech Recognition (ASR), and Handwriting Recognition (HWR), provide the most natural communication solutions available. For additional information, visit www.fonix.com , or call (801) 553-6600.
Investor Contact, Michelle Aamodt, +1-801-328-0161, invrel@fonix.com.
Note: The statements released by Fonix Corporation that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, include statements regarding the Company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the Company's business prospects and performance. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. Risk factors include general economic, competitive, governmental, and technological factors as discussed in the Company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The Company does not undertake any responsibility to update the forward-looking statements contained in this release.
Fonix is a registered trademark of Fonix Corporation. mobileGT is a trademark of Motorola, Inc. All other trademarks or registered trademarks are the property of their respective owners.
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SOURCE Fonix Corporation
CONTACT: Andrea Candler of S&S Public Relations, Inc., +1-317-275-2275,
ext. 31, andrea@sspr.com , Peter Foss of Fonix Corporation, +1-801-553-6600,
mediarel@fonix.com , or Bill Fleck of Motorola, +1-719-264-6996,
fleck@motorola.com
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Hey Mang...........,
Long time no yak. Welcome to iHub, Bub.
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
VFNX - The Dataflash Corporation
http://www.dataflash.us
Howdy folks. Emerging turnaround in this stock. Having cleared up quite a bit of its checkered past ..... new mgmt purchased a small ACH business called United Capturdyne 1 year ago. Capturdyne's business is clearing high risk ACH transactions upon which they generate 90% gross margins.
Basically this stock trades at .27x.33 today. Should report first profitable FY ended July 31, 2002 sometime this week. I expect the company to have earned .03/sh for FY02, its first profitable year ever ! In addition, the 1st qtr 2003 ends 10/31 (10 days away) and will have a favorable comparison YOY against the 1st qtr FY02 (aug-Oct 2001) which was the last loss reported by the company. I'd expect trailing 12 month earnings between .07 and .09/share for the 12 months ending 10/31/02 . Those numbers are not likely to be released until early December, however, if they only post flatline growth, that's what they would amount to. A modest PE of 10-12 should equate to nearly a triple by Christmas.
No Debt. ! Line of Credit for $300K. 18.9 million shares outstanding, 12 million share float .... although tightly held.
There are significant new client additions pending including Crosscheck, the 3rd largest check guarantee company in the US, and a new stored value card program about to rollout out which should further add to revenues and earnings for next year. Quickly becoming a cash cow ! I look for somewhere near $1 by Christmas.
Tengtu Reports Year-End Profit and Revenue Growth; Company Announces Increase in Sales of Over 150% From Last Year; Company Restates 2001 Annual & 2002 Quarterly Reports
TORONTO & BEIJING, Oct 16, 2002 (BUSINESS WIRE) -- Tengtu International Corp. (TNTU), a developer, marketer, distributor and integrator of distance learning solutions and e-education software, announced today year-end profit and revenue growth for the fiscal year ended June 30, 2002. (All fiscal 2001 numbers are restated figures for comparisons. See the section for 2001 restatement below.)
Fiscal 2002 Performance
Sales for the fiscal year 2002 rose to $14,255,417 compared with $5,566,039 for fiscal 2001, a 150% increase from last year's level. Tengtu reported a full year net profit of $1,578,108 compared with a net loss of $ (293,169) a year ago. This net income represents $0.03 per share based on 49,880,494 basic shares outstanding in fiscal 2002 and compared with a net loss of $ (0.01) per share on 24,977,353 basic shares outstanding in fiscal 2001.
The Company experienced strong sales growth in 2002 with the continued success of the Operation Morning Sun project in China. In fiscal 2002, Tengtu China installed 7,292 Total Solution platforms for a total revenue of $11,293,251 or 79% of sales. Tengtu China also installed 3,245 sets of satellite equipment for $1,675,197 and sold 1,748 resource CDs for $109,892. Sales of other e-education products and services, such as system integration projects, through Tengtu China, were $1,067,753.
"Fiscal year 2002 results represent a substantial increase in revenues over 2001 and indicate a healthy and growing company well positioned to meet the opportunities in the year ahead," stated John D. Watt, Tengtu International Corp's President. "At the same time as the Company was executing record sales, it was managing its consolidation of the opportunities to operate China's national e-education portal and several provincial portals. This will add new revenue streams to the Company's future performance and growth."
"The restated annual statement for 2001 and the first three quarters of 2002 were related to an inclusion of a VAT tax in sales. These adjustments have no material effect on the ability of the Company going forward," concluded Mr. Watt.
"We are managing tremendous growth and increased demand for Tengtu products and services across China's education market," stated Chairman and CEO of Tengtu China, Fan Qi Zhang.
"The Company has reorganized its operations in China in fiscal 2002 to better address the expanding market opportunities. We will strive to attain and maintain a dominant market position with our products, services, innovations, and strategic alliances. Tengtu's alliance with the National Center for Audio Visual Education (NCAVE) and key provincial centers will allow the Company to expand its distribution of products and services while addressing the market needs for K-12 e-education throughout China," Mr. Zhang concluded.
Restatements of 2001 Annual and 2002 Quarterly Results
Tengtu also filed restated annual financial statements for the fiscal year 2001 and quarterly financials for the first three quarters in fiscal 2002. The restated financials were primarily due to the inclusion of a VAT tax in the revenue numbers. All numbers are rounded to the nearest thousand.
The net effect of the restatement for the fiscal year ended June 30, 2001 is as follows: (i) a decrease in sales of $647,000 from $6,213,000 to $5,566,000; (ii) a decrease in gross profit of $712,000, from $3,122,000 to $2,410,000; (iii) an increase in other income of $315,000, from $633,000 to $948,000; (iv) a decrease in net income (loss) of $397,000 from $104,000 to ($293,000); and (v) a decrease in earnings (loss) per common share of $0.016 basic and diluted to ($0.012) basic and diluted.
The net effect of the restatement for the quarter ended September 30, 2001 is as follows: (i) sales decreased by $493,000, from $3,734,000 to $3,241,000; (ii) gross profit decreased by $405,000, from $2,465,000 to $2,060,000; (iii) total other income/(expense) increased for the quarter ended September 30, 2001 by approximately $405,000, from expenses of $119,000 to income of $287,000; (iv) Minority Interest in Subsidiary's Loss decreased to $0 from $159,000 due to the restatement of the Company's 10K for the year ending June 30, 2001; (v) net income increased by $159,000, from $705,000 to $864,000; (vi) earnings (loss) per basic common share increased by $.004 basic from $.015 to $.019 and $.003 per diluted common share from $0.014 to $0.018.
The net effect of the restatement for the quarter ended December 31, 2001 is as follows: (i) sales decreased by $675,000, from $4,736,000 to $4,061,000; (ii) gross profit decreased by $556,000, from $2,935,000 to $2,379,000; (iii) total other income/(expense) increased by approximately $556,000, from expenses of $75,000 to income of $481,000; (iv) net loss decreased by $12,000 from $19,000 to $7,000; (v) earnings per share did not require an adjustment and remained as originally reported; (vi) Minority Interest in Subsidiary's Income decreased by $12,000 from $648,000 to $636,000.
The net effect of the restatement for the quarter ended March 31, 2002 is as follows: (i) sales decreased by $492,000, from $3,486,000 to $2,994,000; (ii) gross profit decreased by $405,000, from $2,574,000 to $2,169,000; (iii) Total other income/(expense) increased by $405,000, from expenses of $41,000 to income of $364,000; (iv) Net income was not restated and remained as originally reported; (v) earnings per share did not require an adjustment and remained as originally reported.
TENGTU-INTERNATIONAL CORP.
Consolidated Statement of Operations
FOR THE FISCAL YEAR ENDED JUNE 30,
2002 2001 2000 1999 1998
Total Assets $27,734,300 $8,833,335 $2,407,842 $1,911,912 $2,871,926
Total Sales 14,255,417 5,566,039 358,026 624,121 3,223,170
Income (Loss)
from Continuing
Operations 1,578,108 (293,169)(4,701,285)(1,886,399)(4,402,014)
Income (Loss)
from Continuing
Operations per
Common Share 0.032 (.012) (.225) (.100) (.234)
About Tengtu International Corp.
Tengtu International Corp. (www.tengtu.com) is a developer, marketer, distributor, and integrator of distance learning solutions and e-education software. Tengtu International Corp controls 57% of a joint venture with its China partner, Tengtu China. The JV (Tengtu) has been chosen by China's Ministry of Education to be the operating partner in the deployment of China's national education portal and distance learning network. Tengtu is a key player in "Operation Morning Sun," China's national initiative to make computerized education available to 250 million students in the country's 800,000 kindergarten through 12th grade (K-12) schools.
To be added to Tengtu's email list for Company news, please send your email address to info@tengtu.com
Note: Portions of this press release include forward-looking statements made pursuant to the safe harbour provisions of the Securities Litigation Reform Act of 1995. Actual results could differ materially from the results discussed in this release and in the forward-looking statements contained herein for many reasons. Investors are cautioned that all forward-looking statements involve numerous risks and uncertainties, including but not limited to product development, product acceptance, licensing opportunities and general economic conditions. For more information concerning Tengtu International Corp., and risk factors that may affect its future results and may cause actual results to vary from results anticipated in forward-looking statements, investors should review the Company's public filings with the U.S. Securities and Exchange Commission.
Tengtu International Corp.
Anu Dhir, 416/963-3999
http://www.businesswire.com
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SRYP (OTCBB) SEC ACTION: SRYP Former Pres. Charged in Fraud Scheme
THURSDAY , OCTOBER 17, 2002 08:17 AM
Surety Capital Corporation (OTCBB: SRYP)
The SEC issued a Regulatory Action yesterday. On 10/3/02, Judge Jerry Buchmeyer, United States District Judge for the Northern District of Texas, sentenced G. Matthias Heinzelmann, III, the former Executive Vice President of Surety Bank of Fort Worth, TX, to a term of 36 months probation with six months of home confinement, in connection with an elaborate scheme through which he used bank customers' money to conceal bad loans and inflate bank revenues. In addition, the Court ordered Heinzelmann to pay a $10,000 fine.
Previously, Heinzelmann entered into a plea agreement with the United States Attorney for the Northern District of Texas, Dallas Division, pursuant to which he pled guilty to one count of conspiracy to make false entries in the books and records of a bank. By conducting the scheme, Heinzelmann also violated the federal securities laws. These violations are the subject of the SEC's pending civil action against Heinzelmann, filed in the Northern District of Texas, Ft. Worth Division, on 4/25/02. In its action, the SEC is seeking a permanent injunction, an officer and director bar, and a civil money penalty.
According to the complaint, from 1996 through September 1999, Heinzelmann, while President and Director of Surety Capital Corporation (OTCBB: SRYP), engaged in an elaborate scheme to conceal loan losses incurred by Surety Bank. The scheme had a material impact on financial statements included in Surety Capital's Forms 10-K and 10-Q. Specifically, Surety Capital overstated its pre-tax income by 7% in 1996, and understated its pre-tax losses by 16% in 1997 and 97% in 1998. Further, Surety Capital failed to file its Form 10-Q for the period ending 9/30/99. Because of the scheme, Surety Capital failed to make and keep books, records and accounts that, in reasonable detail, accurately and fairly reflected its transactions and dispositions of assets. Surety Capital also failed to maintain an adequate system of internal financial controls.
At the time the Commission filed its complaint against Heinzelmann, it simultaneously instituted settled administrative cease-and-desist proceedings against Surety Capital for violations of the reporting, internal controls, and books and records provisions of the Exchange Act.
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SMWS (OTCBB) Smith & Wesson Unveils the Identi-Kit 2003
- State of the Art Composite-Sketch Tool for Law Enforcement -
THURSDAY , OCTOBER 17, 2002 08:03 AM
SCOTTSDALE, Ariz., Oct 17, 2002 /PRNewswire-FirstCall via COMTEX/ -- Smith & Wesson Holding Corporation (OTC Bulletin Board: SMWS) today announced that the upcoming launch of Identi-Kit 2003 created a buzz within the law enforcement industry at the 109th Annual International Association of Chiefs of Police Conference (IACP) held October 5-9, 2002. Identi-Kit 2003 is part of the new Smith & Wesson Advanced Technologies (S.W.A.T.) division dedicated to providing law enforcement technology solutions.
"The Identi-Kit product has been an integral part of the Smith & Wesson Corp. product line and has been widely used by law enforcement agencies since 1968," said Mitchell Saltz, Chairman and CEO of Smith & Wesson Holding Corp. "Identi-Kit 2003 is an upgraded, hybrid version of Identi-Kit 2000, which is currently the number one facial composite software utilized by law enforcement. The New Identi-Kit 2003 can create wanted posters, search for composite matches and transmit sketches via-email. Considering recent developments that demand witness recognition, the need for such a tool by law enforcement is at a high level and we're dedicating a national marketing effort for the upgraded 2003 version to meet that need."
Police officers assisted in the design of the 2003 upgrade. Its Investigator Wizard guides a user through the basic interview process for a quick composite. With enhanced features that are fast, accurate and user friendly, the Identi-Kit 2003 is an ideal crime-fighting tool. The Identi-Kit 2003 allows law enforcement officers to create and circulate facial composite sketches online, almost instantaneously to an extensive web-based network of law enforcement and security agencies. The Company plans to release Identi-Kit 2003 in January.
About Smith & Wesson Holding Corporation
Smith & Wesson Holding Corporation is the parent company of Smith & Wesson Corp., one of the world's leading producers of quality handguns, law enforcement products and firearm safety and security products. Law enforcement personnel, military personnel, target shooters, hunters, collectors and firearms enthusiasts throughout the world have used the company's products with confidence for 150 years. Smith & Wesson Corp. also manufactures and markets Smith & Wesson branded bicycles, handcuffs and other products utilizing its metal working expertise and providing products and services to many external customers through its Specialty Services division.
Safe Harbor Statement
Statements in this press release about the company's future expectations, including the financial progress and position in the marketplace, the anticipation of strong third and fourth quarter results, and the development of licensing and branding opportunities, and all other statements in this release, other than historical facts, are "forward-looking statements" within the meaning of Section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. It is important to note that actual results and ultimate corporate actions could differ materially from those is such forward-looking statements based on such factors as softening consumer demand based on national or political events or based on consumers personal satisfaction or desire for our products for a variety of reasons (style, quality, etc.); or the inability to leverage the name Smith & Wesson in the licensing categories selected by management to pursue; or a perceived or actual decline in the quality of products produced among other factors. Such "forward-looking statements" are subject to risks and uncertainties set forth from time to time in the Company's SEC reports, including the report on form 10-KSB for the year ended April 30, 2002 and the form 10-QSB for the quarter ended July 31, 2002.
For more information, visit the company's Web sites at: http://www.smithandwesson.com
For further information, please contact media, Teri James of E.B. Lane Marketing Communications, +1-602-258-5263; or investor, Shannon T. Squyres, President of Market Pathways, +1-949-955-1860, both for Smith & Wesson Holding Corporation; or Carol Heide, Dir. of Communications of Smith & Wesson Holding Corporation, +1-480-949-9700.
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SOURCE Smith & Wesson Holding Corporation
CONTACT: media, Teri James of E.B. Lane Marketing Communications,
+1-602-258-5263; or investor, Shannon T. Squyres, President of Market
Pathways, +1-949-955-1860, both for Smith & Wesson Holding Corporation; or
Carol Heide, Dir. of Communications of Smith & Wesson Holding Corporation,
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URL: http://www.smithandwesson.com
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NEXL (OTCBB) Nexell Therapeutics Announces Plan of Liquidation and Dissolution
THURSDAY , OCTOBER 17, 2002 07:30 AM
IRVINE, Calif., Oct 17, 2002 (BUSINESS WIRE) -- Nexell Therapeutics Inc. (OTCBB:NEXL) announced today that its board of directors adopted a plan to liquidate and dissolve the Company. Based upon current information, the Company anticipates that a cash distribution to common stockholders, which will exclude Baxter Healthcare Corporation ("Baxter") and its affiliates, will be $0.05 per share. Although the Company is unable to predict the precise timing of such distribution it hopes to make the distribution prior to year end. In order to be eligible to receive the distribution, a stockholder must be a holder of record of common stock on the record date set by the Board of Directors for such distribution, which is expected to be the date the Company files its certificate of dissolution with the State of Delaware.
In reaching its determination that the plan of liquidation and dissolution is in the best interests of the Company, the Board of Directors considered a number of factors. As previously disclosed, on May 15, 2002, the Board had authorized management to immediately begin an orderly wind up of operations. Since then the Company considered alternatives available to it in effecting the wind up, including dissolution under Delaware law or liquidation or reorganization under the Federal bankruptcy code. In any such procedure, in light of the liquidation preference of the Company's outstanding Series A and Series B Preferred Stock in the aggregate amount of approximately $151 million, there would be no remaining value available for distribution to the holders of common stock. After discussions with Baxter and its affiliates, which will hold all of the preferred stock, such holders have agreed to consent to a cash distribution to the holders of common stock in connection with the liquidation and dissolution of the Company under Delaware law.
As a Delaware corporation, the Company must obtain stockholder approval for the plan of liquidation and dissolution. The Company and Baxter have entered into an agreement pursuant to which: (i) Baxter and certain of its affiliates have agreed to acquire from the Company's holders of Series B Preferred Stock such preferred stock, (ii) Baxter and its affiliates will accelerate the pre-existing put of their stock to Baxter International Inc., (iii) Baxter and its affiliates will convert a portion of such stock sufficient to give them ownership of a majority of the outstanding shares of common stock, and (iv) Baxter and its affiliates will then, as majority holders of common stock, approve the plan of liquidation and dissolution by written consent. The put was granted by Baxter International Inc. in November 1999 in connection with the Company's issuance of the Series B Preferred Stock. Baxter currently owns approximately 17% of the Company's common stock.
As a common stockholder Baxter will waive its right to the $0.05 per share distribution. As the then sole preferred stockholders Baxter and its affiliates will receive substantially all of the remaining assets of the Company, other than a contingency reserve to satisfy current and anticipated liabilities, in partial satisfaction of their liquidation preference. Pursuant to the plan of liquidation and dissolution, the Company will establish a liquidating trust by year end to which will be contributed any assets not distributed to the stockholders. In connection with the plan of liquidation and dissolution, the Company will file with the SEC an information statement, which will be mailed to stockholders following its filing with the SEC. Investors and security holders are urged to read this document as it contains important information about the plan of liquidation and dissolution and related matters. After it is filed, investors and security holders may obtain copies of the document free of charge from the SEC's website at www.sec.gov. No proxies will be solicited from Company stockholders with respect to the plan of liquidation and dissolution.
Effective October 17, 2002, and after the adoption by the Board of Directors of the plan of liquidation and dissolution, Victor W. Schmitt was appointed by the Board of Directors to be a director of the Company. Mr. Schmitt, who formerly was a director from December 1997 until May 10, 2002, is an employee of Baxter. It is anticipated that Innovir Laboratories, Inc., a majority owned subsidiary of the Company, will be liquidated in the near future. As a result of the liquidation preference held by the Company as the sole holder of preferred stock of Innovir, it is not expected that there will be any assets available to distribute to the holders of common stock of Innovir.
Nexell Therapeutics Inc.
Located in Irvine, California, Nexell Therapeutics Inc. is a biotechnology company that was focused on the modification or enhancement of human immune function and blood cell formation utilizing adult hematopoietic (blood-forming) stem cells and other specially prepared cell populations. Nexell was developing proprietary cell-based therapies that address major unmet medical needs, including treatments for genetic blood disorders, autoimmune diseases, and cancer. The Company is currently in the process of winding down operations.
This release contains forward-looking statements which are subject to certain risks and uncertainties that could cause actual results to differ materially from current expectations. Such risks and uncertainties include: the Company's ability to effect an orderly wind down of its operations and to implement the plan of liquidation and dissolution in a timely manner; the Company's ability to resolve any claims against it; the Company's ability to sell certain of its remaining assets to generate cash to satisfy its obligations; the Company's ability to maintain sufficient cash which could be distributed to its stockholders; the Company's ability to retain the services of key employees or consultants to complete the wind-down; the Company's obligation to incur the expenses of complying with public company reporting requirements; the substantial dilution to common stockholders in the event that all or a portion of the Company's two series of Preferred Stock are converted to Common Stock; and any additional factors described from time to time in the Company's filings with the SEC. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims any intent or obligation to update these forward-looking statements.
CONTACT: Nexell Therapeutics Inc., Irvine
Wayne A. Tyo, 949/470-9011
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You are welcome Tim. I am not sure how long Gold can hold up. It has had one hell of a run, not that I am a commodities expert or anything. I think it is getting close to a equities market reversal. The shorts are definitely getting nervous as the most recent rally indicated. Earnings on some fronts seem to be improving. It might be time to start looking for some technology opportunities. I think that when people start going back into equities, it will have a negative effect on Gold so maybe a negative effect on precious metals stocks? I am not sure though. I know that there is a lot of money in Bonds that will most likely be fleeing to stocks soon. The Bond market has had a nice little bubble of it's own which is about ready to pop.
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Thanks my friend. I passed on even trying to dig any further. I'm leaning toward precious metal stocks.
I don't think so EZ. Here is their business summary.
business summary
--------------------------------------------------------------------------------
CURRENT BUSINESS INFORMATION: IceWEB, Inc. is a software services company offering products and services that make it easy and affordable for organizations to create and deliver interactive, multimedia programs to their customers, employees and partners. The Company is a rich-media company whose products allow organizations to deliver via the Internet or Intranet rich-media interactive, audio, video or slide presentations which can be seen and heard anytime or anywhere using a standard web browser. The Company's core product, IceShow(TM), is the company's rich-media integration platform which allows anyone, with or without technical skills, to create and deliver streaming-media productions.
The Company's production and consulting services compliment its product suite and allow for custom application development with an emphasis on e-learning and marketing applications. All of the Company's products allow customers to use streaming-media technology to reduce travel expenses, accelerate time to market, increase revenues, heighten brand awareness and extend their reach worldwide.
HISTORICAL BUSINESS INFORMATION: The Company was originally incorporated in Delaware under the name Mediplex Corporation on February 25, 1969.
According to documents filed in the State of Delaware, Mediplex corporation forfeited its Certificate of Incorporation on December 3, 1973, as a result of not having named a registered agent as required by Delaware law; however, the Company was renewed and revived pursuant to a Certificate of Renewal and Revival filed on June 4, 1974.
On June 5, 1974, the Company changed its name to the The Lawton-York Corporation.
On January 31, 1975, the Company merged into it a New York corporation of identical name, which had been incorporated on February 10, 1966. The Company was the surviving corporation of that merger.
The Company was, for many years, a wholesaler of custom one, two, three and four-color processed commercial printing, as well as disposable and durable office equipment including stock paper, fax paper, fax and copy machines, computers, file cabinets and safes. The Company conducted its business throughout the United States of America and Puerto Rico from its headquarters in New York.
On March 10, 1999, the Company changed the focus of its business and closed a transaction by which it acquired 100% of the outstanding capital stock of North Orlando Sports Promotions, Inc., which operates the SportsAuction site at www.SportsAuction.com., a privately held Florida corporation (NOSP), from the shareholders of NOSP. In connection with the transaction, the Company adopted the name AuctionAnything.com, Inc.
On May 25, 2001 the Company announced that it acquired Disease S.I., a privately held Florida Corporation. As consideration for the acquisition the Company agreed to issue common stock totaling 60,000,000 shares.
On June 6, 2001 the Company's Board of Directors approved and recommended an amendment to the Certificate of Incorporation increasing the number of authorized shares of Common Stock from 50,000,000 shares to 100,000,000 shares, and creating a class of Preferred Stock consisting of 1,000,000 shares.
On, July 16 2001, the Company announced that its name had changed to Disease Sciences, Inc.
On July 25, 2001, the Company announced that it had sold its subsidiary, North Orlando Sports Promotions, Inc., to John Hotaling, the Company's former President, in exchange for the assumption of all liabilities related to North Orlando and its operations estimated at approximately $112,000, and which included the forgiveness of $91,500 in accrued compensation. Included in the sale along with the capital stock of North Orlando were fixed assets, rights to several domain names and various contractual rights and obligations. North Orlando, which had been acquired in March 1999, operated a variety of Internet-related businesses.
On August 15, 2001 The Company announced today that it has received funding through Granite Financial Group for a private placement of restricted common stock and warrants worth more than $18 million. The initial funding was for a maximum of $400,000. $470,000 was raised within the placements overflow clause, with warrants attached for an additional $18,329,000 if exercised. The funds will be used for continued corporate activities and for further research and Development.
On November 6, 2001 The Company announced that it has agreed to acquire a majority interest in HealthSpan Sciences, Inc., a privately held, San Diego California-based drug development company, subject to closing conditions. Upon closing HealthSpan indicated plans to change its name from HealthSpan to "Arogen," Inc. the Company anticipates the closing to occur by the end of November 2001.
On November 27, 2001 the Company announced that it has closed on its majority interest in HealthSpan Sciences, Inc., a privately held San Diego California-based drug development company, for four million shares of restricted common stock.
The Company approved a one for ten reverse stock split of its outstanding common stock, which became effective on January 7, 2002.
In March 2002, the Company completed its merger with IceWEB Communications, Inc., a media Internet company located in Herndon, VA. Per the agreement, IceWEB became a wholly owned subsidiary of the Company.
On May 30, 2002, the Company changed its name to IceWEB, Inc. and its ticker symbol to ICEW.
On July 10, 2002, the Company announced it had launched its "IceSHOW(TM)" solutions. The IceSHOW(TM) solutions are designed to put training, marketing and corporate communications content online in a matter of hours by taking the traditional time and cost out of producing educational courses that can be viewed using a standard Web browser.
On August 21, 2002, the Company announced a partnership with Centrivity, a provider of managed services, Internet connectivity, and web-based software solutions. Cetrivity will supply hosting and streaming services for the Company's online training presentations.
MISCELLANEOUS BUSINESS INFORMATION: As of June 30, 2002, the Company had an accumulated deficit of $2,231,417 and a total stockholders' deficit of $656,866.
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joshua -- is that the old VLPI ??
EZ
WTAI - News: http://www.investorshub.com/boards/read_msg.asp?message_id=540471
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
They were subject to a regulatory action in late 2001 due to a statement that they had a product that could kill Anthrax. I am not sure if the same management team is still involved but it may not be worth the risk. They have since changed their name and business model.
SECURITIES EXCHANGE ACT OF 1934
Release No. 45056 / November 15, 2001
ADMINISTRATIVE PROCEEDING
File No. 3-10638
In the Matter of
DISEASE SCIENCES, INC.
ORDER INSTITUTING CEASE-AND-DESIST
PROCEEDINGS, MAKING FINDINGS AND
IMPOSING CEASE-AND-DESIST ORDER
I.
The Securities and Exchange Commission ("Commission") deems it appropriate that public cease-and-desist proceedings be instituted pursuant to Section 21C of the Securities Exchange Act of 1934 ("Exchange Act") against Disease Sciences, Inc. ("Disease Sciences" or "Respondent").
II.
In anticipation of these administrative proceedings, Disease Sciences has submitted an Offer of Settlement, which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission or to which the Commission is a party, and without admitting or denying the facts, findings or conclusions herein, except as to jurisdiction of the Commission over Disease Sciences and over the subject matter of this proceeding, which Disease Sciences admits, Disease Sciences consents to the entry of this Order Instituting Cease-and-Desist Proceedings, Making Findings and Imposing Cease-and-Desist Order ("Order"). Accordingly, IT IS ORDERED that proceedings, pursuant to Section 21C of the Exchange Act, against Disease Sciences be, and hereby are, instituted.
III.
On the basis of this Order and the Offer submitted by Disease Sciences, the Commission makes the following findings:
A. Respondent:
Respondent Disease Sciences is a Delaware corporation headquartered in Boca Raton, Florida. The common stock of Disease Sciences is registered pursuant to Section 12(g) of the Exchange Act and has been registered since at least May 9, 2000. Shares of Disease Sciences' common stock are traded in the over-the-counter market, and quoted on the NASDAQ OTC bulletin board.
B. Disease Sciences' Public Statements:
1. On October 16, 2001, Disease Sciences issued a press release headlined "Disease Sciences, Inc. Ultra-High Pressure Pulse Technology Kills Conventional Pathogens Including Anthrax." Among other things, the press release stated that using High Pressure Pulse ("HPP") technology Disease Sciences "may be able to develop a simple, inexpensive method for cleaning our food and water supplies should they come under attack from bio-terrorism, as well as sterilize other items, such as mail and packages that could be accommodated in the pressure apparatus."
2. On October 17, 2001, Disease Sciences issued a press release stating that "[Disease Sciences] is presently investigating commercially viable projects" using HPP technology.
C. Material Information Omitted From Disease Sciences' Public Statements:
The Disease Sciences press releases omitted to state that at the time of the press releases, HPP had not been tested for or shown to be practical or economical for the uses suggested in the Disease Sciences October 16 press release; and Disease Sciences did not yet have a license to use HPP for any of the uses suggested in the October 16 press release.
D. Disease Sciences Violated Section 10(b) and Rule 10b-5 of the Exchange Act
Section 10(b) of the Exchange Act and Rule 10b-5 thereunder prohibit, in connection with the purchase or sale of any security, making any untrue statement of a material fact or omitting to state a material fact necessary to make the statements made in light of the circumstances under which they were made, not misleading.
Disease Sciences issued publicly the statements set forth above. Disease Sciences knew, or was reckless in not knowing, that these statements were false and misleading at the time they were made.
Accordingly, the Commission finds that Disease Sciences violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
IV.
In view of the foregoing, the Commission deems it appropriate to impose the sanctions specified in the Offer submitted by Disease Sciences. Accordingly, IT IS HEREBY ORDERED that Disease Sciences be and hereby is ordered to cease and desist from committing or causing any violation and any future violation of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
By the Commission.
Jonathan G. Katz
Secretary
http://www.sec.gov/litigation/admin/34-45056.htm
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Anyone heard of this one?
IceWEB to Produce Online Training Course for FDA
E-Learning Solutions Company Supports Center for Drug Evaluation and Research's Outreach and Training Program
Tuesday October 15, 5:44 pm ET
http://biz.yahoo.com/bw/021015/152781_1.html
http://finance.yahoo.com/q?s=icew.ob&d=c
Here is one that has actually been trending up:
http://biz.yahoo.com/p/c/chst.html
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NASDAQ Holiday Trading Schedule
2002 Dates - Unless noted, the following dates are holidays that The NASDAQ Stock Market is closed.
January 1 - New Year's Day
January 21 - Martin Luther King Jr.'s Birthday (Observed)
February 18 - Presidents' Day
March 29 - Good Friday
May 27 - Memorial Day
July 4 - Independence Day
September 2 - Labor Day
November 28 - Thanksgiving Day
December 25 - Christmas Day
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
RJT.com is still the best for penny-trading at $9.95/trade - unlimited shares; owned by and connected to TD Waterhouse now.
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
I am glad Ameritrade is finally going to offer streaming quotes free. It's about time! LOL.
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