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Thanks EZ! Sounds like the shareholders will get a nice boost. No more taxes on dividends will bring value stocks to the forefront this year. Incidentally, most of my portfolio is comprised of value stocks that pay dividends. I talked about doing that several months ago and finished up balancing my portfolio before the end of 2002. Looks like that move might pay off big time for me. Got my fingers crossed!!!
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I think this clarifies it a bit:
Bush Expands Tax Plan; Republicans See Stock Gains
By Adam Entous
WASHINGTON (Reuters) - President Bush is expected to propose the elimination of taxes on dividends paid to shareholders, industry sources said on Sunday, a bold move which Republicans predicted would boost the stock market after three years of losses.
But Democrats called Bush's economic package, expected to cost as much as $600 billion over 10 years, a sop to the rich.
Moderate Republicans could also balk at the new tax cuts and spending measures, which Bush is expected to unveil in a major speech in Chicago on Tuesday.
Republican Sen. John McCain of Arizona told CBS's "Face the Nation" program that he would oppose a stimulus that is "too tilted" toward the well-off and the investor class.
Economists were likewise divided on the plan. Some said it would have little stimulative effect while exacerbating bigger-than-expected budget deficits.
Allen Sinai of Decision Economics Inc. said it was worthwhile given the anemic state of the economy -- possibly adding one-half to three-quarters of a percentage point to growth -- but would not be a cure-all.
Republican sources said the White House sounded out conservatives over the weekend about completely eliminating the tax paid by shareholders on corporate dividends. The change would cost as much as $300 billion and would be the centerpiece of the Bush's economic package.
Bush is also expected to accelerate reductions in income tax rates for all income brackets. It could cost as much $80 billion if he accelerates both the scheduled 2004 and 2006 rate cuts to this year, congressional sources said.
Republicans defended Bush's decision to include the nation's highest income group in the accelerated rate cuts.
"People who are at the top rates right now are paying the disproportionate share, and if we're going to do (something) across-the-board, we should do it fairly and equitably," said Sen. Rick Santorum of Pennsylvania, the third-ranking Republican in the Senate.
"And I think the economic benefits, particularly those at the lower end, are much more profound if you do include the top rates," Santorum told the Fox News Sunday program.
QUICKER CORPORATE WRITE-OFFS
In addition, Bush's package is expected to allow companies to quickly write off more of their investments.
The White House has made reviving the U.S. economy its top domestic priority besides homeland security.
Bush's re-election chances in 2004 could depend on whether he can get the economy growing briskly again, reduce unemployment and break a three-year losing streak for major market indexes.
The White House would not discuss details of the package but sources said Bush favored eliminating taxes paid by investors on dividends.
"The reason why it is important is that if you say you want to abolish the double taxation of dividends, it becomes a matter of principle," said Grover Norquist, president of Americans for Tax Reform.
Currently, corporate income is taxed twice -- once when earned by a company and again when it is distributed to shareholders as dividends.
Some Republican sources said Bush would ask Congress to phase out the tax gradually. Others said Bush would ask Congress to eliminate the tax immediately, and predicted it would result in an immediate increase in disposable income and encourage investment in stocks.
"If you encourage people to invest in the stock market, you're going to have an increase in stock values. That will help everybody," said Sen. Don Nickles of Oklahoma, the outgoing assistant Republican leader. "Most of us would love to see the market make a turnaround."
WIN DEMOCRATIC SUPPORT
To win Democratic support for the tax cuts, Bush will include billions of dollars in aid to cash-strapped states.
Proposals under consideration include $75 billion or more in federal grants to states, whose revenues have been eroded by the soft economy and volatile stock market, and paying a greater share of Medicaid, the joint federal-state health care program for the poor.
Bush will also ask Congress to immediately extend federal unemployment benefits for more than 750,000 Americans whose benefits expired on Dec. 28.
But Democrats, who will unveil their own economic package on Monday, promised a fight.
"I think the president is trying to pull a fast one," Sen. John Edwards of North Carolina told ABC's "This Week" program. The Democratic presidential hopeful said Bush was "trying to use the Bush recession to put money in the pockets of the richest Americans over a long period of time while providing very little help for regular people."
"There's no question the economy's in big trouble," Sen. Harry Reid of Nevada, the No. 2 Democrat in the Senate, told NBC's "Meet the Press" program. "But we have to look at what's good for the average American and getting rid of the dividend certainly isn't one of those priorities."
EZ 2
RGBI (OTCBB) ReGen Biologics Announces 2002 Accomplishments
MONDAY , JANUARY 06, 2003 08:00 AM
FRANKLIN LAKES, N.J., Jan 6, 2003 (BUSINESS WIRE) -- ReGen Biologics, Inc. (OTC:RGBI), today announced major achievements during 2002, including the completion of required enrollment in the largest-ever U.S.-based multicenter clinical trial involving the meniscus of the human knee.
"We're pleased with the successes we enjoyed in 2002," stated Gerald E. Bisbee, Jr., Ph.D., Chairman and CEO. "We wrap-up the year with the satisfaction of accomplishing important objectives during 2002 and establishing a clear set of milestones for 2003, including sales goals, growth in the research and development pipeline, and an increase in our intellectual property portfolio."
ReGen's achievements in 2002 included:
-- In November, we completed enrollment and surgeries of the 288
patients required in the U.S. Multicenter Trial. This is the
most significant milestone until submission of the PMA to the
FDA, scheduled for December 2004, once all patients have
undergone the two year follow-up required by the FDA;
-- Since the U.S. clinical trial began several years ago, we have
results on over 60% of the patients, and clinical results
to-date are positive. A five-year follow-up study of the
feasibility patients was completed, including a relook
arthroscopy, and results are also quite positive. These
results have been submitted for publication;
-- In June, we completed a financial transaction that brought
approximately $7 million in new capital to ReGen. As part of
that transaction, we merged with a publicly traded company and
we are now traded under the ticker symbol RGBI; and
-- Centerpulse (NYSE:CEP), our distributor outside the U.S.,
formed its sales teams in Europe and Australia in the second
half of 2002. Sales are underway in Italy, Spain, Germany,
Switzerland, and Australia, and the process for introducing
the CMI has begun in Canada and Chile.
About ReGen Biologics, Inc.
ReGen is a biological remodeling company that designs, develops, manufactures and markets minimally invasive human implants and medical devices for the repair and remodeling of damaged human tissue. ReGen is headquartered in Franklin Lakes, New Jersey, and it operates an ISO 9001 certified manufacturing facility in Redwood City, California.
ReGen's biological remodeling scaffold has been applied to a variety of therapeutic applications and the Company plans to continue to develop and introduce tissue regrowth products based on its patented technologies.
ReGen's flagship product, the Collagen Meniscus Implant ("CMI"), is focused in orthopedics. The CMI is marketed in Europe and Australia through a distribution agreement with Centerpulse (NYSE:CEP) (formerly Sulzer Medica, Inc.), and it has recently completed the required enrollment in a major Multicenter Clinical Trial in the United States.
ReGen also sells the SharpShooter Tissue Repair System, an arthroscopic device used for meniscal repair procedures through a distribution agreement with Linvatec, a division of CONMED Corporation (NASDAQ:CNMD).
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Such statements are based on the current expectations and beliefs of the managements of ReGen and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including those discussed in the Risk Factors section of ReGen's current report on Form 8-K/A, filed with the Securities and Exchange Commission on September 4, 2002.
ReGen's filings with the SEC are available to the public from commercial document-retrieval services and at the Web site maintained by the SEC at http://www.sec.gov.
CONTACT: ReGen Biologics, Inc., Franklin Lakes
Brion D. Umidi, 410/349-2431
bumidi@regenbio.com
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LOL EZ! Not exactly the January effect we were all hoping for was it? Any take on the new Bush Econimic stimulis plan? Heard on Bloomberg today that instead of just cutting Corporate dividend tax they are now planning to eliminate it all together. What I can't figure out is exactly what they mean. Does this mean the Corporations don't pay the tax or the investors? If I can soon buy a dividend stock and don't have to pay any taxes on the dividends, that would be totally awesome. I'll bet that companies that currently pay dividends will go up a bit and some companies may be compelled to start paying a dividend.
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IVD (AMEX) IVAX Diagnostics Authorizes Share Repurchase; Company Also Announces Election Of New Directors, Two New Distribution Agreements, And Exhibition Of New Automated Analyzer
MONDAY , JANUARY 06, 2003 06:58 AM
MIAMI, Jan 6, 2003 (BUSINESS WIRE) -- IVAX Diagnostics, Inc. (AMEX:IVD) today announced that its Board of Directors has authorized the additional repurchase of up to 1 million shares of its publicly held common stock. IVAX Diagnostics has approximately 27.6 million shares outstanding, of which 7.6 million are publicly held. IVAX Corporation (AMEX:IVX)(LSE:IVX.L) holds the remainder. These purchases will be made from time to time on the open market or in private transactions in such amounts as market conditions warrant.
IVAX Diagnostics also announced that it elected two new directors to its Board of Directors. The new directors are Jose J. Valdes-Fauli and Glenn L. Halpryn. Mr. Valdes-Fauli is the President and Chief Executive Officer, and a director, of Colonial Bank, South Florida Region. Mr. Halpryn is the Chief Executive Officer, and a director, of Transworld Investment Corporation, the Chief Executive Officer of Orthodontix, Inc., and a portfolio manager of International Venture Capital, Ltd. These two new directors replace Jay Raubvogel and Randall K. Davis who resigned from the Board of Directors on August 9, 2002 and November 4, 2002, respectively. Phillip Frost, M.D., IVAX Diagnostics' Chairman said: "I am very pleased to announce the election of Mr. Valdes-Fauli and Mr. Halpryn to our Board of Directors. I have known both of these men for many years and it is a privilege to have directors with this level of expertise join our Board. I welcome their addition and look forward to their contributions to IVAX Diagnostics."
Additionally, IVAX Diagnostics announced that it presented a prototype of its new PARSEC System(c) at Medica 2002, the world's largest medical trade show exhibition, in Dusseldorf, Germany. The PARSEC System(c) is a next generation automated diagnostic analyzer that is being developed by Delta Biologicals, S.r.l., IVAX Diagnostics' subsidiary in Italy. This new system, with its modular design, is expected to be able to run the test kits currently marketed by IVAX Diagnostics, as well as many additional assays that laboratories wish to perform. This new system is expected to be available next year in Italy and other European markets and later in the United States. Giorgio D'Urso, CEO and President of IVAX Diagnostics said: "The PARSEC System(c) is the result of extensive internal development that will provide the market with a very flexible diagnostic instrument capable of running many analytes as well as different technologies. We see this instrument as a major breakthrough in laboratory testing capability and we expect that it will allow us to build on the ongoing automation strategy that we offer." Mr. D'Urso added that "IVAX Diagnostics has signed two new agreements for the distribution of its products in Spain and Turkey, further enhancing its distribution capability."
About IVAX Diagnostics, Inc.
IVAX Diagnostics, Inc., headquartered in Miami, Florida, develops, manufactures and markets proprietary diagnostic reagents, instrumentation and software in the United States and Italy through its three subsidiaries: Diamedix Corporation, Delta Biologicals S.r.l. and ImmunoVision, Inc. IVAX Corporation (AMEX:IVX, LSE:IVX.L) owns approximately 72% of IVAX Diagnostics, Inc.
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the business and prospects of IVAX Diagnostics, Inc., including, without limitation: risks and uncertainties regarding the PARSEC System(c), including, without limitation, that the PARSEC System(c) may not be available when expected, that the PARSEC System(c) may not run as many test kits, assays, analytes and technologies as intended, that we may not be successful in our marketing of the PARSEC System(c), and that customers may not integrate the PARSEC System(c) into their operations as readily as expected; that IVAX Diagnostics' automation strategy may not prove successful; and that expansion into or agreements for international markets may not prove successful; and other risks and uncertainties that may cause results to differ materially from those set forth in the forward-looking statements. In addition to the risk factors set forth above, investors should consider the economic, competitive, governmental, technological and other factors discussed in the Company's filings with the Securities and Exchange Commission.
CONTACT: IVAX Diagnostics, Inc., Miami
Duane M. Steele, 305/324-2338
http://www.ivaxdiagnostics.com
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G/M ----- it's right on my front lawn......
all 3" of it on top of the 4 we already had !!!!!!!! :)
HNY !!!!!
EZ 2
Good Morning! Slightly negative bias on the index futures so far today. What the hell happened to the January effect? LOL!
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Where you the Principal in Ferris Beuhler's Day Off....???
Just curious. Tee hee. The micro Christmas tree hunters were cute - fun times.....!!
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Happy New Year to one and all. Now that college football betting has
come near a close, it's time to start off the year with a bang.
Today I bought JFBC at 50.90. I will sell it in 4 to 6 weeks at
59.46. Here is why I like JFBC:
Jeffersonville Bancorp is a one-bank holding company, which owns all
the capital stock of The First National Bank of Jeffersonville. "Jeff
Bank" maintains ten full service branches in Sullivan County New York
located in Jeffersonville, Liberty, Monticello, Eldred, Loch
Sheldrake, Livingston Manor, Narrowsburg, Callicoon,
Wal*Mart/Monticello and Wurtsboro. God, don't you just love small
town America? Isn't that where all of our great successes always
come from?
JFBC has shown sequential quarterly revenue growth for the past 7
quarters. There is no reason to believe, that given today's interest
rate structure, that this will not continue. JFBC's return on equity
is 14%.
JFBC's stock is up 119% over the last 12 months. Can you beat the
market? Of course you can!
JFBC, despite all of this price momentum and growth is still fairly
priced at a PE of only 14.
Earnings have increased about 20% per year over the last 4 years and
its recent trend is even better…2 months ago, announced third quarter
net income after taxes of $1,413,000 ($0.96 per share) up 32% from
$1,064,000 ($0.72 per share) for the third quarter of 2001. Earnings
for the first nine months of 2002 were $3,969,000 ($2.69 per share)
compared to $2,510,000 ($1.68 per share) in 2001, an increase of over
58%.
JFBC pays a 2% dividend. Money is good.
Reasonably healthy consumer loan growth was offset by weak commercial
lending in 2002. This environment will continue into 2003. Consumer
spending has remained surprisingly healthy throughout the latest
recession. Commercial lending, however, has been particularly hard
hit, both from in terms of loan growth and in terms of credit
quality. This means the small banks should outperform the big banks.
Get ready to pound the market.
I am HUGE!!
$$$MR. MARKET$$$
http://hometown.aol.com/ebarsamian
Yep. Looking forward to a great New Year!
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XX, you out there buddy? Have a good holiday?
URMP - News: http://www.investorshub.com/boards/read_msg.asp?message_id=648509
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=648087
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Volume alert on VRDE, up 26% so far!
Ron Happy Holidays and a Safe and Prosperous New Year to all!
New company and board: http://www.investorshub.com/boards/board.asp?board_id=1457
Lot's of January skuttlebutt on SI and RB about this one.......
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
You too Mach! And everyone else as well!
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XXray, Muel, Rick Merry Christmas!
URMP - News: http://www.investorshub.com/boards/read_msg.asp?message_id=637352
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Here is a good story stock
SeaLife Corporation, an Evironmental Bio-tech Company, Goes Public
CULVER CITY, Calif.--(BUSINESS WIRE)--Dec. 23, 2002--SeaLife Corporation became a full reporting public company (OTCBB:SLIF - News) effective today.
SeaLife Corporation(TM) ("the Company"), an environmental bio-tech company, is the developer and manufacturer of SeaLife Anti-Foul Paints -- uniquely formulated, environmentally safe, anti-foul, anti-corrosive coatings for the commercial maritime industry, the military, and the recreational boat owner. The company's proprietary technology, the result of 12 years of research conducted by prominent laboratories in the United States and Europe, has made it possible to effectively replace the commonly used anti-fouling agent Tributyl tin (TBT), a toxic compound to be banned globally January 1, 2003.
http://biz.yahoo.com/bw/021223/230286_1.html
New board: http://www.investorshub.com/boards/board.asp?board_id=1455
and.................... Merry Christmas...!!
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
We're ALL HERE! Where are YOU???
You are cordially invited to attend a FIVE DAY celebration of the season.
It's called "Caroling with Carolyn and The Gang at The Corner Bar !!!!"
Here is the link that you need to use to join in the FUN AND FESTIVITIES !!!!.....
http://www.investorshub.com/boards/board.asp?board_id=413
Squeeze on in and grab a stool!
The Holiday has JUST BEGUN!
FIVE FUN FILLED HOLIDAYS OF singing along to Christmas Tunes in a "CHEERS" type setting.
Friends you want to be with!
Merriment for EVERYONE!
We have it ALL!
Here is the LINK....
http://www.investorshub.com/boards/board.asp?board_id=413
[Suppressed Sound Link]
WTFD, latest SEC filing, K8 name change 23rd, $25,000,000 assets and big cash in bank, Peoples Republic of China biotech,
today is the last day before name change,
i hope they will give a PR next week,
after PR,
I am looking for the price to explode....
only 25,000,000 shares O/S
all in last sec file
no spam, just facts.
investigate it today before close.
BBX Info:
Updated FAQs Available On-line
Between June and December of 2002, we held over 20 regional BBX forums throughout the country to talk about the proposed BBX market and to meet in person with issuers, service providers, and market participants. From these meetings, we have compiled a list of Frequently Asked Questions (FAQs) and have posted them on the BBX website. The revised page now contains over 50 FAQs covering recent inquiries regarding BBX listing standards, corporate governance requirements, the BBX trading system, and marketplace rules, among other topics. To read the new FAQs, please visit the BBX website at http://www.bbxchange.com/FAQs/.
SEC Update
On October 31, 2002, NASDAQ submitted an amended rule filing to the Securities and Exchange Commission (SEC) to make the proposed BBX listing standards compliant with the newly enacted Sarbanes-Oxley Act. To date, the rule filing has not yet been released by the SEC for public comment. We hope to have approval of the BBX proposed rule next year and to launch the BBX in the 4th Quarter of 2003. A copy of the amended rule filing is available on the BBX website at http://www.bbxchange.com/SEC_Filings/.
While awaiting approval, BBX staff will work with the SEC to determine if we can begin accepting applications prior to approval of the BBX rules. We will keep you apprised of the results of this effort.
Contact the BBX
As always, please feel free to direct any questions and requests for more information to (877) BBX-1001, or bbxinfo@bbxchange.com.
Thank you,
Tim Ryan
BBX Issuer Services Manager
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
My thoughts exactly.
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sounds to me like they are getting rid of the shorts.........
Rick...
To the scammers,,,I salute,,,
A place to report scum,,,errrrrrrr I mean scams......
http://www.investorshub.com/boards/board.asp?board_id=610
Volume alert on SFII, up 6% so far!
Ron
TTGG Info:
CURRENT BUSINESS INFORMATION: T & G2, Inc. conducts its business operations through its wholly owned subsidiary, Solutions Technology, Inc. which provides biometric identification services for the following: identity verification, secure site access, and time & attendance. Solutions Technology, Inc.'s SecureTime biometric solutions utilize technologies that capture, manage, and integrate resources and other demand information into aspects of the Company's clients' business processes. The Company's system enables clients to control and manage their resources precisely and become more efficient, without costs associated with ownership.
Using Biometric fingerprint technology, the SecureTime system provides customized pay reports for a company on demand. The SecureTime system functions as a smart terminal that interacts with Solutions Technology's office. In addition to providing pay reports, the SecureTime system can be used to improve security measures, by adjusting the programming. The SecureTime system can be linked with surveillance systems in highly sensitive work areas to increase security.
HISTORICAL BUSINESS INFORMATION: The Company was incorporated as International Mercantile Corporation under the laws of Missouri on March 10, 1971 to operate in the insurance industry.
During September 1999, the Company acquired Micromatix.com, Inc., an Internet-based P.C. manufacturer through a transaction with Red River Trading Company, Inc., the sole shareholder of Micromatix.com. Micromatix.com sells build-to-order unbranded, sometimes referred to as "white box", PC systems and PC related hardware in the U.S.
The Company effected a 1 for 7 reverse split of its outstanding Class A Common Stock on August 8, 2000. The Board approved the rounding up of every fractional shareholder to a full share.
In April 2001, the Company acquired all of the outstanding common stock of Secure Time, Inc. in exchange for 10,500,000 shares of the Company's common stock. The acquisition was accounted for as a pooling of interests. Secure Time had minimal assets and no operations through the acquisition date. Concurrent with the acquisition, Secure Time was merged into the Company, and thus Secure Time was dissolved.
The Company effected a 1 for 11 reverse split of its issued and outstanding shares during July 2001. In addition, the Company changed its trading symbol to IMTT.
In October 2001, The Company acquired Solutions Technology, Inc, as a wholly owned subsidiary of the Company.
The Company effected a 1 for 8 reverse split of on February 21, 2002. In addition, the Company changed its trading symbol to IMCT.
On March 1, 2002, the Company changed its name to T & G2. In addition, the Company changed its trading symbol to TTGG.
The Company announced the acquisition of Zingo Sales Ltd. in March 2002. Zingo is a manufacturer of electronic bingo and related gaming systems. Such acquisition was accomplished on a share-for-share basis with each share of outstanding Zingo common stock ($.001 par value) exchanged for a like number of the Company's Class A common stock ($.001 par value), with Zingo to be and become a wholly owned subsidiary of the Company.
MISCELLANEOUS BUSINESS INFORMATION: As of September 30, 2002, the Company reported an Accumulated Deficit of $(10,073,738) and Total Assets of $244,146.
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The chart looks good on TTGG. e/m.
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TTGG (OTCBB) Stock Buyback Approved by T & G2's Board of Directors
WEDNESDAY, DECEMBER 18, 2002 09:03 AM
BERKELEY HEIGHTS, NEW JERSEY, Dec 18, 2002 (CCNMatthews via COMTEX) -- T & G2 (OTC-BB Symbol: TTGG) announced today that its board of directors has authorized the repurchase of up to 2,000,000 of its Class A Common Shares representing approximately 40% of TTGG's issued, outstanding and trading shares. The purchases may be conducted from time to time on the open market or in private transactions.
"The Company believes its shares represent an attractive investment for the Company, especially at its present market value," said James M. Farinella, president and CEO of T & G2. "The stock repurchase program reflects management's confidence in the Company's long-term prospects and will be initiated to support our new public stockholders."
The shares of common stock are being purchased to return the shares to treasury for corporate purposes and to improve the Company's financial position.
T & G2 has two wholly owned subsidiaries: Solutions Technology and Zingo Sales Ltd. Solutions Technology is the developer of the SecureTime Biometric ID System. The SecureTime System utilizes biometric fingerprint technology to positively ID individuals. Unlike other systems, there is no upfront capital expense for the customer, very little retrofit to install the terminal and the Company provides for the risk free opportunity for the customer to see how the Biometric system will benefit their operations and save them money.
Zingo Sales, through a license arrangement, has the most advanced software in the electronic bingo market today. The bingo halls and casinos love the system because they can now charge for additional bingo cards played without the additional cost of paper. Another reason the demand is so great for this system is that there are other games (Ultimate), which can be played during and between each bingo session generating additional revenue for the casino/bingo operator.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by T & G2 (TTGG) may differ materially from these statement due to a number of factors. TTGG assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
CONTACT: T & G2 - Direct
1-866-409-8342
or
T & G2
Stephen Taylor
Investor Relations
Toll Free: 1-877-682-7747
Website: www.ttgg.net
Copyright (C) 2002, Canadian Corporate News. All rights reserved.
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AMDR (OTCBB) AAmeriDream Entertainment to Recall Stock Certificates
WEDNESDAY, DECEMBER 18, 2002 08:05 AM
BERMUDA DUNES, Calif., Dec 18, 2002 (BUSINESS WIRE) -- The board of directors of AmeriDream Entertainment Inc. (OTCBB:AMDR) today announced that it has authorized the officers of AmeriDream to recall its stock certificates and to reissue new certificates to its shareholders in order to change the color and number on the certificates.
This is anticipated to take place immediately. Shareholders will be notified as to the procedures for making the exchange.
About AmeriDreamEntertainment Inc.
(http://www.ameridreamentertainment.com)
AmeriDreamEntertainment is a Coachella Valley, Calif.-based major motion picture and television production and distribution company, that was founded and incorporated in California. AmeriDream bases its future on public and industry financing.
The AmeriDream companies will utilize its officers, directors and consultants to establish new production, co-production and distribution relationships throughout the world.
AmeriDreamEntertainment has headquarters at 79811 "A" Country Club Dr., Bermuda Dunes, Calif. 92201; phone: 760/345-2400; fax: 760/345-0980 or 800/929-6147 for the United States & Canada.
Safe Harbor Statement
This news release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of l933 and the Securities Exchange Act of l934, as amended by the Private Securities Litigation Reform Act of l995. Those statements include statements regarding the intent, belief or current expectations of AmeriDreamEntertainment Inc. and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are based upon current expectations of management and actual results and outcomes may differ materially from those contained in such forward-looking statements in this news release. Important factors currently known to management that could cause actual results to differ materially from those in forward statements include the ability of management to gain approvals from the board of directors of both companies, as well as regulatory approvals, unforeseen claims in connection with the intellectual property rights assets, fluctuation of operating results, the ability to compete successfully, the ability to revise forward-looking statements to reflect changed assumptions and the occurrence of unanticipated events or changes to future operating results.
CONTACT: Market Pathways (for AmeriDreamEntertainment)
Shannon T. Squyres (investor relations), 949/955-1860
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CDSS (OTCBB) Citadel Security Software Issues Guidance on 2003; Expects Annual Revenue of $7.5 Million and Profitability by Third Quarter 2003
WEDNESDAY, DECEMBER 18, 2002 08:02 AM
DALLAS, Dec 18, 2002 (BUSINESS WIRE) -- Citadel Security Software, Inc. (OTCBB:CDSS) has issued guidance on full year 2003. The interest and demand for Hercules, the company's automated vulnerability remediation product released in the spring of 2002, from government agencies, healthcare organizations and corporations is building the sales pipeline. The Company expects revenue for the full year 2003 to reach $7.5 million and to achieve profitability by the third quarter 2003.
"Our pipeline opportunities from ongoing customer pilots and evaluations of Hercules are in excess of 300,000 seats and we believe that Hercules will generate strong revenue growth in 2003 over 2002," said Steven B. Solomon, CEO of Citadel. "The market demand is driven by an increased concern of cybersecurity threats, as well as regulations including HIPAA, Gramm-Leach-Bliley Act, PDD-63 and the initiatives of the National Strategy to Secure Cyberspace. We plan to expand our current sales force throughout 2003 to address the anticipated increase in product demand."
About Citadel
Citadel Security Software Inc. (OTCBB:CDSS) develops, markets and licenses computer security and privacy software for one of the fastest growing software industry segments today -- security inside the firewall. Citadel's Winshield(R) SecurePC(TM) and NetOFF(TM) products enable companies to enforce security policies from a single point of control. Hercules remediates vulnerabilities from the five classes of security vulnerabilities: insecure accounts, unnecessary services, mis-configurations, back doors and software defects. Hercules' open architecture design allows the import and aggregation of assessment data from many sources. Hercules is interoperable with industry leading vulnerability assessment tools allowing customers to address the real world issues of vulnerability assessment and remediation. Citadel's products also address the initiatives of the President's National Strategy to Secure Cyberspace and the mandates of HIPAA and Gramm-Leach-Bliley legislation for the healthcare and financial industries. Further information about Citadel Security Software, its products and investor information can be accessed at its website, www.citadel.com.
Safe Harbor/Forward-looking Statements:
Except for the historical information contained herein, this news release contains forward looking statements that are subject to risks and uncertainties, including lack of Citadel operating history, uncertainty of product acceptance, uncertainty to compete effectively in the security software market and the uncertainty of profitability and cash flow of Citadel. In providing the guidance for 2003, Citadel has taken into account the projected spending environment for information technology and market conditions. These risks and uncertainties may cause actual outcomes and results to differ materially from expectations in this press release. These and other risks are detailed from time to time in CT Holdings' and Citadel's SEC reports, including CT Holdings' report on Form 1O-KSB for the year ended December 31, 2001 and most recent Form 10-QSBs, as well as Citadel's Registration Statement on Form 10-SB and amendments and most recent Form 10-QSBs.
CONTACT: Citadel Security Software, Inc.
Jack Doxey, 214/750-2465
JDoxey@citadel.com
or
Schwartz Communications, Inc.
Tara Dugan or Dara Sklar, 415/512-0770
citadel@schwartz-pr.com
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OCR (NYSE) Omnicare to Acquire NCS HealthCare for $460 Million
WEDNESDAY, DECEMBER 18, 2002 07:30 AM
COVINGTON, Ky., Dec 18, 2002 /PRNewswire-FirstCall via COMTEX/ -- Omnicare, Inc. (NYSE: OCR) today announced that it has executed an agreement to acquire NCS HealthCare, Inc. (NCSS.OB), the fourth largest institutional pharmacy provider in the United States, for $5.50 per share in cash and the repayment of NCS debt in a transaction with an enterprise value of approximately $460 million (before taking into account excess cash at NCS). The transaction was unanimously approved by the boards of directors of both Omnicare and NCS.
The transaction will enhance Omnicare's position as a leading provider of pharmacy services for the elderly by combining NCS's approximately 199,000 residents served with the approximately 746,000 residents already served by Omnicare. The combined company will have a nationwide network of pharmacies serving long-term care providers in 47 states. Based upon results for Omnicare and NCS for the quarter ended September 30, 2002, Omnicare's combined annualized revenues will approximate $3.3 billion.
Under the terms of the merger agreement, Omnicare will amend its outstanding tender offer for all of the outstanding shares of NCS on or about December 23, 2002 to reflect the terms of the agreement. The merger, which has already cleared the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, is expected to close early in the first quarter of 2003. Given the significant economies of scale and cost synergies anticipated from the acquisition, it is expected that it will be accretive to Omnicare's diluted earnings per share in 2003 and beyond.
Joel F. Gemunder, president and chief executive officer of Omnicare, said, "We are very pleased to add NCS to Omnicare's organization. This transaction will deliver substantial value to the stockholders of both companies. It significantly expands Omnicare's presence in the long-term care market and will allow us to realize significant economies of scale. Additionally, the transaction will enable us to bring Omnicare's advanced clinical programs, including our proprietary formulary, the Omnicare Geriatric Pharmaceutical Care Guidelines(R), and health management programs, to NCS's client facilities and the residents that they serve. We look forward to working with NCS and its management team to ensure a rapid and seamless integration of the two companies."
NCS HealthCare provides pharmaceutical and related services to long-term care facilities, including skilled nursing centers, assisted living facilities and hospitals. NCS serves approximately 199,000 residents of long-term care facilities in 33 states and manages hospital pharmacies in 10 states.
About the Company
Omnicare, based in Covington, Kentucky, is a leading provider of pharmaceutical care for the elderly. Omnicare serves approximately 746,000 residents in long-term care facilities in 45 states, making it the nation's largest provider of professional pharmacy, related consulting and data management services for skilled nursing, assisted living and other institutional healthcare providers. Omnicare also provides clinical research services for the pharmaceutical and biotechnology industries in 28 countries worldwide. For more information, visit the company's Web site at http://www.omnicare.com.
This document is neither an offer to purchase nor a solicitation of an offer to sell securities. The tender offer is being made only through an offer to purchase and related letter of transmittal. Investors and security holders are strongly advised to read the tender offer statement of Omnicare because it contains important information. The tender offer statement has been filed by Omnicare with the Securities and Exchange Commission (SEC). Investors and security holders may obtain a free copy of these statements (when available) and other relevant documents on the SEC's Web site at: http://www.sec.gov. The tender offer statement and related materials may also be obtained for free by directing such requests to Omnicare at (859) 392-3331.
Statements in this press release concerning the transaction value of the NCS acquisition; Omnicare's business outlook or position or future economic performance; the expected benefits from the NCS acquisition, including its impact on Omnicare's revenues and earnings, economies of scale, and cost synergies; the timing of and ability to successfully conclude a transaction with NCS; the benefits that the transaction brings to the stockholders of Omnicare and NCS; the benefits from providing Omnicare's clinical services to NCS's facilities and their residents; and the timing and ability to integrate the two companies, together with other statements that are not historical, are forward-looking statements that are estimates reflecting the best judgment of Omnicare based on currently available information. Such forward-looking statements involve actual known and unknown risks, uncertainties, contingencies and other factors that could cause actual results, performance or achievements to differ materially from those stated. Such risks, uncertainties, contingencies and other factors, many of which are beyond the control of Omnicare, include overall economic, financial and business conditions; trends for the continued growth of the businesses of Omnicare; the realization of anticipated revenues, economies of scale, cost synergies and profitability; the successful integration of APS and other acquired companies; the ability to implement productivity, consolidation and cost reduction efforts and to realize anticipated benefits; the impact and pace of pharmaceutical price increases; delays and further reductions in governmental reimbursement to customers and to Omnicare as a result of pressure on federal and state budgets due to the continuing economic downturn and other factors; the overall financial condition of Omnicare's customers; Omnicare's ability to assess and react to the financial condition of its customers; the impact of seasonality on the business of Omnicare; the ability of vendors to continue to provide products and services to Omnicare; the continued successful integration of Omnicare's clinical research business and acquired companies, including NCS, and the ability to realize anticipated economies of scale and cost synergies; pricing and other competitive factors in the industry; increases or decreases in reimbursement; the effect of new government regulations, executive orders and/or legislative initiatives, including those relating to reimbursement and drug pricing policies and changes in the interpretation and application of such policies; government budgetary pressures and shifting priorities; efforts by payors to control costs; the outcome of litigation; the failure of Omnicare to obtain or maintain required regulatory approvals or licenses; loss or delay of contracts pertaining to Omnicare's contract research organization business for regulatory or other reasons; the ability of clinical research projects to produce revenues in future periods; the ability to attract and retain needed management; the impact and pace of technological advances; the ability to obtain or maintain rights to data, technology and other intellectual property; the impact of consolidation in the pharmaceutical and long-term care industries; volatility in the market for Omnicare's stock, the stock of NCS and in the financial markets generally; access to capital and financing; the demand for Omnicare's products and services; variations in costs or expenses; the continued availability of suitable acquisition candidates; changes in tax law and regulation; changes in accounting rules and standards; and other risks and uncertainties described in Omnicare's reports and filings with the Securities and Exchange Commission.
SOURCE Omnicare, Inc.
CONTACT: Cheryl D. Hodges of Omnicare, Inc., +1-859-392-3331; or
Joele Frank or Andy Brimmer, both of Joele Frank, Wilkinson Brimmer Katcher,
+1-212-355-4449, ext. 121, for Omnicare, Inc.
URL: http://www.omnicare.com
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It is trading more than 3 times book value and has lost money the last 3 quarters. On the positive side, they did manage to increase revenues significantly in the most recently reported quarter. Also, they generated positive cash flows from operations in the June quarter for the first time this year. This makes the relatively low cash balance a bit less worrisome. Cash flows from financing activities was $879K with the net change in cash and cash eqv. of + $837K, which basically means without raising the money through financing last quarter, they would have burned only a few thousand dollars. As it stands, they have about $1.5M in cash.
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OTCJournal December Profile: Irvine Sensors (NASDAQ NM: IRSN)
Stock Listing: NASDAQ NM: IRSN
Estimated Shares Issued and Outstanding: 7.03 Million
Estimated Public Float: 5 million
Today's Closing Price: $1.72
Market Capitalization: $12.1 Million
52 High and Low: $3.41 x $.75
Corporate Web Site: http://www.irvine-sensors.com/
In our weekend edition we alluded to a profile on a stock which had the potential to be a Peter Lynch like "10 bagger" for investors with a two to five year time horizon.
Irvine Sensors is that company. Based on today's closing price of $1.72, investors would have to see the stock appreciate to $17 over the next two to five years in order to achieve these results.
The market would have to place a value of $120 million on this company during that time frame with the current number of issued and outstanding shares.
As you can see from the chart, the market has been willing to place on considerably higher valuation on this company in the past. In fact, the stock has dropped from a 2000 split adjusted high of $366 to its current anemic $1.72 level, suggesting there is substantial upside potential for investors.
In fact, at today's level, the market is only valuing the entire company at $12 million, despite the company holding 56 technology patents, numerous patents pending, and over $200 million invested in the development of their technology.
This stock is like an airplane in a turbulent thunderstorm. Having lost altitude in a violent down draft, the pilot has regained control, and is now returning to a higher altitude and calmer air.
If current key projects yield big defense related contracts, the $17 level over two to five years is a realistic target. In the short term, possibly over the next 30 to 60 days, we believe Irvine Sensors could easily rebound to the $3 level as year end tax selling abates, buyers come back, and corporate developments are reflected in the stock price.
Pioneering Technology- Chip Stacking Provides Massive Processing Power in a Small Space
The fiscal 2003 Defense budget earmarks $9.9 billion for investment in Science and Technology. Those funds will be used to develop the military and homeland security technologies of the future.
This next generation technologies have several common key components: They all require massive computing power, contained in small, lightweight, and mobile formats, requiring as little power possible.
Irvine Sensors has been in business since 1980 and is the pioneer in developing "Chip Stacking" technology. The company developed the process by which multiple computer chips are bonded together in a sequence to provide massive processing power in a very small space.
Irvine Sensors has developed many applications for this technology. We have decided to feature the three. The last two represent immediate upside potential for shareholders and are strong growth arenas for the company.
Infrared and Wireless Applications
If you own a PDA which integrates with your cell phone or any other device, chances are 50% that the infrared technology in your PDA was supplied by the Novalog division of Irvine Sensors. They are the dominant supplier to Palm.
Pictured here is a transceiver module for a PDA, cell phone, or pager, which allows the device to exchange information through infrared light with other devices. This infrared technology serves as the platform from which the company has expanded into various miniaturized, portable infrared detection devices which can be used in military and homeland security applications.
Miniaturized Thermal Video Cameras
Pictured here is a tiny miniaturized video camera that takes pictures by detecting heat emission. The camera operates in a broad range of temperatures and requires a power source equivalent to a couple of AA batteries. It lies dormant until detecting motion in its vicinity, then can transmit the images back to a central location.
Consider the military and homeland security implications of this technology. Vast areas can be virtually patrolled by the placement of these miniaturized cameras in sensitive areas both in the field and on US soil. This technology is also being implemented in night vision weapons sights, and sensors for small, drone aircraft.
Prototypes of these cameras are being delivered under a development contract with the US Army.
Video "Jigsaw" Technology
This technology requires massive computing power, and has the potential to be the short term "Holy Grail" for Irvine Sensors. This amazing imaging technology allows the military to virtually "see through" a multitude of spaces to learn what is hidden behind cover.
Originally announced in May of 2002, it was revealed Irvine Sensors was named "prime contractor" by the Defense Advanced Research Projects Agency (DARPA). Northrup Gurmman, Sarnoff Corp, and Arete Associates are sub contractors.
In a press release at the end of September, Irvine Sensors disclosed the development contract would eventually equate to $9.6 million in revenues, and field testing was scheduled to be completed by May of 2003. Irvine Sensors expects to begin discussions with DARPA for long range military plans for this technology in February or March. We are planning on providing an online demonstration in a future edition.
The "Jigsaw" technology is used to enhance combat target detection and identification by use of laser imaging. The technology takes density images from aloft, and through complex computations can actually reproduce images below less dense layers. From this, the images are reassembled in pieces like a virtual puzzle. A practical example is the technology's ability to uncover military hardware (tanks, planes, guns, etc.) beneath any sort of camouflage or cover, such as trees or deeply dug trenches with ground cover.
Conclusion- Financial Performance and Current Valuation
June quarterly results came in at $3.94 million in revenues, up from $2.3 million the prior quarter, an increase of 71%. Irvine Sensors reported losses for the June quarter of $1.72 million, but after subtracting non cash and one time expenses from that number, actual cash losses from operations were only $536,500.
Their September quarter and fiscal year end numbers are due out any day as their fiscal year ends in September. When they are available, we will report them in a special edition.
Based on the June quarterly results, Irvine Sensors is annualizing at $12 million in sales. Revenues grew 71% from March to June. If the trend continues, investors could assume they will see growth again in the September quarter and hopefully diminishing losses.
Fundamentally the company is probably absurdly undervalued. Like many of its technology brethren, the market has priced the company for insolvency . The stock is trading at less than one times annual sales. The market cap is a mere $12 million. With $200 million invested in their technology over the past twenty years, their enterprise value should be considerably higher. Hence our belief the stock could appreciate substantially.
On a technical basis the chart we have provided, drawn from the highs made last May when the company announced the DARPA contract, suggests the stock is entitled to bounce back into the $2 range if the current trend continues. A move above $2.40 would be extremely bullish, and could signal a major trend reversal.
The stock has risen recently off a long term base of $1 to $1.72 on extremely light volume. Tax selling pressure on this stock has abated, so it has been able to rise unchallenged. Therefore, a pull back into the $1.30 to $1.40 range would represent the ideal entry level. However, if the right kind of news comes along the stock may never see these levels again.
This stock has an average daily trading volume of 32,000 shares, so it could be subject to violent price swings in either direction when volume materializes. Common sense should be used when accumulating a position. Use a limit order and have a little patience. If history repeats itself, the high for the day will be made about an hour after the market opens.
As with any microcap you must assume you could lose all your money if the company falls on hard times. On the flip side- the unfortunate cost of the international war on terrorism could make Irvine Sensors a company who's time has finally come.
Disclaimer
The OTCjournal.com Newsletter is an independent electronic publication committed to providing our readers with factual information on selected publicly traded companies. All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward maximizing the upside potential for investors while minimizing the downside risk, whenever possible. Moreover, as detailed below, this publication accepts compensation from certain of the companies which it features. Likewise, this newsletter is owned by MarketByte, LLC. To the degrees enumerated herein, this newsletter should not be regarded as an independent publication.
Click Here to view our compensation on every company we have ever covered, or visit the following web address: http://www.otcjournal.com/disclaimer.html for our full profiles and http://www.otcjournal.com/trading-alerts/disclaimer.html for Trading Alerts.
MarketByte LLC has been pledged a fee of $25,000 by Irvine Sensors for coverage through December 31, 2003. As part of the agreement, one of the prinicipals of MarketByte LLC has been pledged 75,000 options, with an exercise price equal to the closing price of Irvine Sensor's stock on March 4, 2003, contingent upon stockholder approval of the option plan to be voted on at the annual meeting of March 4, 2003.
All statements and expressions are the sole opinions of the editors and are subject to change without notice. A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein.
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I think that will be one of the problems they face. How many retail investors will be comfortable holding shares in a Microcap in certificate form? I wouldn't.
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I like it Josh,a little slow if one wanted to trade it fast, but could this company, be an investement??
Rick...
To the scammers,,,I salute,,,
A place to report scum,,,errrrrrrr I mean scams......
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BUER (OTCBB) Bauer Acquires $30 Million Bank & Credit Card Debt Portfolio from Swiss Investment Group
TUESDAY , DECEMBER 17, 2002 08:30 AM
NEW YORK, Dec 17, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Bauer Partnership, Inc. announced today that it has entered into an agreement through Bauer Debt Purchasing Corp., a wholly owned subsidiary of The Bauer Partnership, Inc., to acquire a $30,000,000 Bank and Credit Card Debt portfolio from a large Swiss Investment Group, EH & P Investments AG of Zurich, Switzerland. The $30,000,000 debt portfolio is comprised of US based debtors, averaging $1,600 per debtor and approximately 19,000 debtors.
Bauer has acquired the $30,000,000 debt portfolio for $2,000,000 in restricted shares. The 10M shares will be issued at $0.20 per share and pursuant to a two-year lock-up agreement.
Bauer Debt expects to enter into revenue sharing agreements with various national debt collection agencies in order to convert such portfolios into performing debt.
Additional announcements are expected as to Bauer's growth strategy in this exciting segment of the debt purchasing and collection industry.
"This proves our ability to utilize our common stock as a viable currency in the acquisition of diversified assets. We will attempt to convert these large debt portfolios into performing debt and consistent monthly revenues to the company. We will continue to grow and acquire additional debt portfolios. With the current economic downturn and growth in consumer debt we believe that the debt purchasing market offers BAUER tremendous growth potential," said Ronald J. Bauer, CEO & Founder of BAUER.
Industry leaders estimate that the face value of debt purchased grew from $50 billion in 1999 to $60 billion in 2000-an increase of 20 percent. Based on the assumption that an equal amount of debt is purchased in the primary, secondary and tertiary markets, Kaulkin Ginsberg, a leading Debt Broker, estimates the value of purchase debt at $2.4 billion. With an average return of 150 percent, that puts the value of revenues for this category at $3.6 billion.
Debt purchasing has always been a part of the collection industry. Its role and function in the industry, however, is evolving at a rapid pace. The battle over the banking giant Wachovia illustrates this. In early April of this year banking giant, Wachovia, announced a deal to sell its credit card portfolio to Bank One (which issues cards under the name of First USA) for an estimated $2 billion. When a credit card portfolio is sold, the buyer generally takes over the cardholder accounts and acts as the selling bank's agent for issuing new cards. Bank One (First USA) now owns Wachovia's credit cards.
About BAUER
The Bauer Partnership, Inc. (OTC Bulletin Board: BUER) is a diversified holding company that specializes in acquiring and developing cash-flow positive Real Estate assets, Sports and Leisure acquisition opportunities and Resource oriented ventures.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. BAUER takes no obligation to update or correct forward-looking statements.
Contact: The Bauer Partnership, Inc., New York
Press Contact: Ronald J. Bauer, CEO, (212) 572-6276
info@bauer-partnership.com
Web site: http://www.bauer-partnership.com
MAKE YOUR OPINION COUNT - Click Here
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SOURCE Bauer Partnership, Inc.
CONTACT: Ronald J. Bauer, CEO, Bauer Partnership, Inc., +1-212-572-6276,
info@bauer-partnership.com
URL: http://www.bauer-partnership.com
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APIEF (OTCBB) API Electronics Group, Inc. signs Letter of Intent to acquire TM Systems, Inc.
TUESDAY , DECEMBER 17, 2002 08:01 AM
NEW YORK, Dec 17, 2002 /PRNewswire-FirstCall via COMTEX/ -- API Electronics Group, Inc. (OTCBB: APIEF), a manufacturer of electronic components vital to the reliable performance of high-value military assets, today announced the signing of a Letter of Intent to acquire TM Systems, Inc. With manufacturing operations in Bridgeport, Connecticut and a head office in Albertson, New York, TM Systems is on track to deliver revenues in excess of USD $3-million for the year ending December 31, 2003.
TM Systems is a privately owned corporation that primarily produces equipment and systems for the U.S. government, specifically naval aircraft landing and launching equipment, flight control and signalling systems, radar systems alteration, data communication and test equipment as well as aircraft ground support equipment.
"This is a major step for API Electronics because it allows us to further increase our in-demand product offerings for both current and potential clients," said Tom Mills, President and COO of API Electronics. "TM Systems has built an excellent reputation and strong customer relationships over 30 successful years in business. The company's customer base consists of various U.S. government departments, including the United States Navy, as well as numerous domestic and foreign commercial corporations."
Firmly based in the defense sector, TM Systems supplies critical systems to the U.S. Navy. They include the Stabilized Glide Slope Indicator, which helicopter pilots use to ensure a safe landing, and the Deck Status Light System, which provides helicopter pilots and flight deck crew with information about the status of the landing area.
"This deal signifies the expansion of our core business in military and defense-related electronic components and systems and offers great potential for revenue growth on a long-term basis," added Mills. "It is very much in line with our aggressive growth strategy and allows us to maximize value for the company and its shareholders."
The acquisition is pending the completion of due diligence by API Electronics and the signing of a definitive purchase agreement. It will be an all cash transaction and the closing is expected to take place in early 2003.
ABOUT API ELECTRONICS:
API Electronics Group Inc. and its wholly owned subsidiaries are leading designers and manufacturers of superior quality electronic components and microcircuits with precisely defined functional capabilities. API and its subsidiaries have been providing top of the line parts to numerous global producers of military hardware, telecommunications equipment, computer peripherals, process control equipment and instrumentation for a combined total of over 50 years. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin, Litton Systems, Harris Corporation and numerous other top technology-based firms around the world, API regularly ships off-the-shelf and custom designed products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York state and Ontario, Canada totaling 48,500 square feet. The company also has manufacturing capabilities in China and a distribution center in Britain. API subsidiary, Filtran, is an ISO 9001 Registered Company. API Electronics trades on the OTC Bulletin Board under the symbol APIEF. For further information about Filtran Group and API Electronics, please visit the company websites at www.filtran.com and www.apielectronics.com.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward- looking statements are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in API's Annual and Quarterly Reports filed with the Securities and Exchange Commission, include changes in market conditions in the industries in which the Company operates. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated.
SOURCE API Electronics Group Inc.
CONTACT: Primoris Group, Tel: 1-877-274-0274, api@primorisgroup.com
(APIEF)
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I have seen several companies of late going this route to stop alleged short sales. Seems to be a new fad.
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CCLH (OTCBB) Critical Home Care, Inc. Suspends DTC Transfer of its Stock Due to Naked Short Selling Evidence
TUESDAY , DECEMBER 17, 2002 08:00 AM
WESTBURY, N.Y., Dec 17, 2002 /PRNewswire-FirstCall via COMTEX/ -- Critical Home Care, Inc. ("the Company") (OTC Bulletin Board: CCLH) announces the following information regarding naked short selling of the Company's common shares:
Effective December 17, 2002, the Company has become a "certificate only" or "custody only" issuer requiring physical certification of Company ownership for all share transfers. Furthermore, no valid or legally enforceable transfer of CCLH stock can be made through Depository Trust Corporation ("DTC") and/or Canadian Depository For Securities Limited ("CDS") or their nominees. DTC has voluntarily cooperated with the Company to remove CCLH stock from electronic eligibility. Upon listing on the American Stock Exchange, if approved, the Company will reinstate its stock to DTC.
Naked short selling has increased in magnitude since the September 30, 2002 press release that noticed the public of the Company's application to the American Stock Exchange. The Company confirms the following facts:
As of the date of this press release no CRITICAL share options have been exercised.
As at the date of this news release, the Company has issued and outstanding common shares totaling 24, 442, 000 with only 5,750,000 free trading common shares. The Company confirms that of the total 18,692,000 restricted shares issued, none have been, or are ineligible to be pledged, borrowed, or hypothecated or used in any way for any normal short sale coverage.
About Critical Home Care
Critical Home Care, Inc., markets, rents and sells surgical supplies, home respiratory therapy products, orthotics and prosthetics, and durable medical equipment, manufactured by third parties, primarily to individuals residing at home. We also intend to provide pharmacy services in the future. In each line of products and services, Critical Home Care, Inc. provides patients with a variety of clinical services, related products and supplies, most of which are prescribed by a physician as part of an overall plan of treatment. Serving those living on Long Island and in the Five Boroughs of New York. Critical Home Care, Inc. currently maintains six points of service having locations in Rockville Centre, Westbury, Patchogue, Babylon, Woodbury and East Setauket, New York. All clinicians are licensed where required by applicable law. Additional information on Critical Home Care, Inc is available on the Internet at http://www.CriticalHomeCare.com .
Forward-Looking Statements
The statements contained in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially from those anticipated or implied in the forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors. These factors include competition factors, such as, the size and resources of many of our competitors, general economic conditions in both foreign and domestic markets, cyclical factors affecting the home healthcare industry, lack of growth in the home healthcare industry, our ability to comply with government regulations, changes to the way in which home healthcare providers are reimbursed by the government and private insurers, our limited operating history, a failure to manage our business effectively and profitably, our ability to sell both new and existing services and products at a profitable yet competitive price, and the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services. The forward-looking statements contained in this press release speak only as of the date hereof. Additional information with respect to these and other factors that could materially affect the Company is included in the Company's filings with the Securities and Exchange Commission, including its most recent Form 8-K.
Contact:
David Bensol R.Ph.
Critical Home Care, Inc.
(516) 997-1200
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SOURCE Critical Home Care, Inc.
CONTACT: David Bensol R.Ph. of Critical Home Care, Inc.,
+1-516-997-1200
URL: http://www.criticalhomecare.com
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G/M Tim! I have seen BUER all over the place. They seem to be an acquisition company.
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Good Morning,
Got a couple of investors insight emails. I don't pay much attention to them anymore though. Let me know if you want to see the whole thing. I will save them for the day, just in case.
-- CareDecision Corp. (OTCBB:CDED)
-- The Bauer Partnership, Inc (OTCBB: BUER)
So true Josh,,I like their take on the markets also.....
Rick...
To the scammers,,,I salute,,,
A place to report scum,,,errrrrrrr I mean scams......
http://www.investorshub.com/boards/board.asp?board_id=610
I like the general market news and the earnings release calender. I don't pay much attention to the individual company coverage.
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Morning josh,I get this one email also, Some are good some are not.
Rick...
To the scammers,,,I salute,,,
A place to report scum,,,errrrrrrr I mean scams......
http://www.investorshub.com/boards/board.asp?board_id=610
DTMG (OTCBB) DataMeg Corp. Announces Stock Dividend
MONDAY , DECEMBER 16, 2002 09:30 AM
BOSTON, Dec 16, 2002 (BUSINESS WIRE) -- DataMeg Corp. (OTCBB:DTMG) announced today that a ten percent stock dividend will be payable to shareholders of record as of Wednesday, January 8, 2003.
All shareholders of record following the close of trading on January 8, 2003 will receive a 10% stock dividend payable in common shares of the Company stock. Shareholders of record will be required to send their certificates to the Company's transfer agent in order to receive the dividend. The dividend is not payable unless the certificate is exchanged with the transfer agent. Shareholders should contact their brokerage firm to determine how the exchange process may be executed. The transfer agent is: Fidelity Transfer, 1800 S. West Temple Street, Suite 301, Salt Lake City, UT 84115, #801-484-7222.
Andrew Benson stated: "There is an apparent short position which has been suffocating the share price despite the high trading volumes in the stock. We want to issue this dividend to reward DTMG shareholders for their loyalty and patience, and to correct obvious problem which has diminished shareholders value."
The dividend is subject to a pending authorized share increase being executed by the Company. If you have questions please contact the Company at their website, www.Datameg.com and/or Rich Kaiser, Investor Relations, YES INTERNATIONAL at 800-631-8127.
Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended that involve a number of risks and uncertainties. These forward-looking statements may be identified by reference to a future period by use of forward-looking terminology such as ``expect,'' ``anticipate,'' ``could,'' "would," "will," and ``may'' and other words of similar nature. There are certain important factors and risks that could cause results to differ materially from those anticipated by the statements herein. Such factors and risks include the successful completion of the CAS technology development, the successful completion of projects underway at North Electric Company and the business conditions and growth in related areas of telecommunications, wireless and digital transmission areas, and in the economy in general. Competitive factors include the rapid pace of alternative technology advancements and the Company's ability to gain market acceptance of its evolving products. Other risks may be detailed from time to time in our filings with the Securities and Exchange Commission. Neither DataMEG Corp. nor its subsidiaries undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: YES INTERNATIONAL
Rich Kaiser, 800/631-8127; www.Datameg.com
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ITEX (OTCBB) ITEX CORPORATION
ITEX Corporation Announces Third Consecutive Quarter of Profitability
MONDAY , DECEMBER 16, 2002 09:06 AM
SACRAMENTO, Calif., Dec 16, 2002 (Canada NewsWire via COMTEX) -- ITEX Corporation, (OTC Bulletin Board: ITEX) a leading business services and trading company, today announced the operating results for its first quarter ending October 31, 2002.
First Quarter Results
For the quarter ending October 31, 2002, the Company generated net income of $122,000 compared to a net loss of $725,000 for the same period last year. This marks the third consecutive quarter the Company has shown profitability. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter were $266,000 compared to a loss of $441,000 for the same period last year. Revenue from the trade exchange increased $158,000, or 6.3% from the same period last year.
The significant improvement in the financial performance for the first quarter is primarily the result of the comprehensive corporate restructuring program initiated in November 2001. The Company embarked on a targeted program of cost reduction, trimmed the number of management, indirect, and non-essential support staff in both the corporate and regional offices, and eliminated the Corporate Trade Department. The Company also sold several regional offices to ITEX Independent Licensed Brokers, further reducing expenses, while maintaining a substantial interest in the revenue stream generated from those offices through trade transaction and association fees.
ITEX Corporation First Quarter Operational Highlights:
-- Corporate SG&A expenses decreased $681,000 as compared to the first
quarter fiscal 2002. This decrease of 44.2% includes the reduction in
wages, salaries, and benefits of $540,000 from the first fiscal quarter
2002.
-- The Company completed the applications for franchise registration in 50
States within the U.S.
-- The first U.S. ITEX Franchise was sold and placed in Florida.
-- TEAM (Trade Exchange Account Management program), an industry-leading
proprietary software platform, was launched and implemented.
-- The Company was accepted as a member of the International Franchising
Association (IFA).
-- The Company was the Gold Sponsor of the International Reciprocal Trade
Association (IRTA) International Convention, in St. Petersburg,
Florida.
Lewis "Spike" Humer, ITEX President and Chief Executive Officer stated, "ITEX Corporation is a 'new' corporation -- restructured, refocused, and revitalized. In the last nine-months where we completed the majority of the restructuring, we have shown a profit of $409,000 compared to the loss of $2,512,000 for the nine-months preceding the initiation of the restructuring program. This is a bottom-line improvement of almost three million dollars in an incredibly short period of time."
He continued, "During the first quarter of fiscal year 2003, we continued to invest in our franchise initiatives and our training and support systems. In addition, we launched an industry-leading proprietary software platform for our 20,000-member trade exchange. We implemented numerous customer service and member retention programs, and continued to reduce short-term debt and other cash drains, such as miscellaneous legal fees related to matters of the Company's past. It is our hope and expectation to continue to build upon the performance of our recent quarters. In the second quarter FY2003, we are planning to embark upon an aggressive path of future revenue growth through the placement of new franchises, the enrollment of additional members into the ITEX Trade Exchange, and the increased trading volumes within our extensive business network."
Humer concluded by stating, "The turnaround of the last year was balanced between the need to rebuild our infrastructure and the necessity to immediately stabilize the financial position of the corporation through prudent cost reductions. In the forthcoming quarters, we will be aggressively marketing to add new members, sell and place additional franchises, and increase the ITEX brand awareness. While our growth will be tempered by our projected cash flows, we are working diligently to increase our revenues throughout fiscal year 2003. Overall, the next twenty-four months will be focused on profitable and effective growth in the business services market and the expansion of the ITEX Trade Exchange through organic growth and systematic acquisitions."
ITEX CORPORATION
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share amounts)
October 31, July 31,
2002 2002
(unaudited)
ASSETS
Current assets 1,477 1,190
Long-term assets 1,410 1,517
Total assets $2,887 $2,707
LIABILITIES AND STOCKHOLDERS' EQUITY
Total current liabilities 2,591 2,518
Long-term liabilities 134 149
Stockholders' equity 162 40
Total liabilities and
stockholders' equity $2,887 $2,707
ITEX CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE QUARTERS ENDED
OCTOBER 31, 2002 AND 2001
(In thousands, except per share amounts)
Three Months Ended October 31,
2002 2001
(unaudited) (unaudited)
Trade exchange revenue $2,662 $2,504
Costs and expenses:
Costs of trade exchange revenue 1,510 1,353
Selling, general and administrative 859 1,540
Costs of regulatory and litigation matters 27 175
Depreciation and amortization 136 251
2,532 3,319
Income (loss) from operations 130 (815)
Other (expense) income (8) 90
Net income (loss) $122 $(725)
Earnings (loss) per common share
- basic and diluted $.01 $(0.05)
Weighted average common shares
Basic 17,725 15,989
Diluted 18,081 15,989
FSTI (OTCBB) FreeStar Technologies Announces Details of $200 Million Processing Agreement
MONDAY , DECEMBER 16, 2002 07:31 AM
Dec 16, 2002 (Hugin via COMTEX) -- Monday December 16 --(www.FinancialNewsUSA.com)-- FreeStar Technologies, Inc. (OTCBB: FSTI), a company providing one of the world's first live, operational debit and ATM solutions with PIN-authenticated payment solution on the Internet, PaySafeNow, and a leading Northern European Processing subsidiary, Rahaxi Processing Oy, is pleased to announce details of a major processing agreement providing the foundation for substantial revenue growth in fiscal year 2003. The agreement, between Rahaxi's previous owner, Heroya Investments Limited and Settlement Services Limited, provides for a strategic alliance between FreeStar's subsidiary, Rahaxi Processing, and Settlement Services, a company specializing in global high margin payment processing aggregation and advanced fraud screening services. The agreement terms outline the rapid deployment of Rahaxi's online operations over an 18-month period, leveraging Settlement Services' established client base and substantial high-margin turnover to yield a gross processing volume of $200 million per month to Rahaxi. Paul Egan, President and Chief Executive Officer of FreeStar, stated, "The agreement with Settlement Services Limited illustrates the tremendous opportunity inherent in our long-term processing strategy. Indeed, the $200 million per month volume of high-margin business provides a very solid base from which to launch our global sales and marketing campaign in the near term." Continuing, Egan added, "We anticipate swift completion of preparations necessary to accommodate Settlement Services' volumes, including the implementation of our Internet Payment Gateway - due for launch in early January - and acquiring bank contracts. We are also revising our earnings projections to reflect the full impact of this deal; based on preliminary calculations, we expect the Settlement Services' account alone to contribute approximately $1.6 million to FreeStar's bottom line per month [i.e. approximately $20 million per annum] when volumes stipulated by the agreement are flowing through our system, with no significant increase in the existing infrastructure of Rahaxi, which translates to approximately $0.40 earnings per share on the number of shares currently outstanding as stated in the company's recent quarterly report. Graham Gilmour, President and Chief Executive Officer of Settlement Services, stated, "We are very pleased to be associated with FreeStar Technologies. Our commitment to the processing deal, originally relating to Rahaxi's proven 10-year track record and competitive strengths, is additionally bolstered by the wealth of synergies readily available to us through this relationship. We are excited about FreeStar's product suite, especially the proprietary PaySafeNow system, which we feel has great potential in the global marketplace." Rahaxi Processing Oy, acquired by FreeStar Technologies from Heroya Investments in September 2002, is a payment service provider based in Helsinki, Finland, offering full, card present, payment processing; transaction authorization, data capture and settlement facilities for Visa, MasterCard, American Express, Diners Club and all bank-issued domestic debit cards. Rahaxi also provides specialist value-added processing applications for fleet, fuel and loyalty card schemes. Approximately US$10 million has been invested in the development of Rahaxi's hardware, software and brand name, to date. Rahaxi provides a wide range of robust payment solutions that support sophisticated, integrated point-of-sale systems to meet the ever changing, complex needs of a wide array of industry sectors. The Company currently processes approximately one million transactions per month, but is capable of handling an additional seven million transactions per month without significant upgrades or technical enhancements. For more information, please visit the company's web site at www.rahaxi.com. About FreeStar Technologies, Inc. With Corporate headquarters in Santo Domingo, Dominican Republic, Dublin, Ireland, and Helsinki, Finland. FreeStar Technologies is focused on exploiting a first-to-market advantage for enabling ATM and debit card transactions on the Internet. FreeStar Technologies' Enhanced Transactional Secure Software ("ETSS") is a proprietary software package that empowers consumers to consummate secure e-commerce transactions on the Internet using credit, debit, ATM (with PIN) or smart cards. It sends an authorization number to the e-commerce merchant, rather than the consumer's credit card information, to provide a maximum level of security. For more information, please visit the Company's Web sites at www.freestartech.com, www.Rahaxi.com and www.epaylatina.com About Settlement Services Limited Settlement Services, a privately held sister company of Storms Commerce Limited, UK, with offices in the United Kingdom and British Virgin Islands, specializes in advising high risk industries on payment solutions. Being a recognized leader in the provision of fraud scrubbing technologies and services, the Company has close relationships with a number of major banks focused on high risk transaction processing. Settlement Services Limited is an independent company which partners with major financial institutions to provide its global client base with fast access to comprehensive payment methods through a single technical connection. For more information, please visit the Company's web site at www.settlementservices.info Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. FOR MORE INFORMATION, PLEASE CONTACT: AT FREESTAR TECHNOLOGIES, INC. Paul Egan, President / CEO 809-503-5911 or via email at pegan@freestartech.com OR Frank Schoonbaert, COO Fax: +353.21.4832262 Ph: +353.86.8338000 Email: f.schoonbaert@rahaxi.com HEROYA INVESTMENTS Lars-Erik Bengtsson Phone: +41 22 818 0280 Fax: +41 22 818 0299 Email: lars-erik@margauxgroup.ch AT SETTLEMENT SERVICES LIMITED Graham Gilmour / President and Founder 011 44 134 488 7630 or via email at gsg@stormscommerce.co.uk
Financial News USA Tel: +1 626 961 8041 Email: info@financialnewsusa.com Web: http://www.financialnewsusa.com
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