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Press Release Source: OptimumCare Corporation
OptimumCare Completes Acquisition of a Southern California Nurse Staffing Agency
Tuesday September 9, 9:00 am ET
LAGUNA NIGUEL, Calif., Sept. 9, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News) today announced that it has completed the acquisition of the stock of a Southern California-based per diem nurse registry.
The staffing agency, which OptimumCare previously reported that it had entered into a preliminary agreement to purchase, primarily provides nurses on a temporary basis. It had revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the acquisition involve both cash and stock, as well as a promissory note with an earn out provision.
``We're very happy to have concluded these negotiations so rapidly, and to have added this fine agency to our growing California medical staffing services group,'' said OptimumCare's Chairman & CEO, Edward A. Johnson. ``We increasingly are positioning the company as a key participant in the temporary healthcare staffing services sector.''
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment provides management teams to client hospitals and medical centers on a long-term contract basis to run inpatient and outpatient behavioral health services. The temporary healthcare staffing segment provides temporary skilled nurses, social workers and other professionals to a broad base of medical and healthcare client sites.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare Completes Acquisition of a Southern California Nurse Staffing Agency
Tuesday September 9, 9:00 am ET
LAGUNA NIGUEL, Calif., Sept. 9, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News) today announced that it has completed the acquisition of the stock of a Southern California-based per diem nurse registry.
The staffing agency, which OptimumCare previously reported that it had entered into a preliminary agreement to purchase, primarily provides nurses on a temporary basis. It had revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the acquisition involve both cash and stock, as well as a promissory note with an earn out provision.
``We're very happy to have concluded these negotiations so rapidly, and to have added this fine agency to our growing California medical staffing services group,'' said OptimumCare's Chairman & CEO, Edward A. Johnson. ``We increasingly are positioning the company as a key participant in the temporary healthcare staffing services sector.''
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment provides management teams to client hospitals and medical centers on a long-term contract basis to run inpatient and outpatient behavioral health services. The temporary healthcare staffing segment provides temporary skilled nurses, social workers and other professionals to a broad base of medical and healthcare client sites.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare Completes Acquisition of a Southern California Nurse Staffing Agency
Tuesday September 9, 9:00 am ET
LAGUNA NIGUEL, Calif., Sept. 9, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News) today announced that it has completed the acquisition of the stock of a Southern California-based per diem nurse registry.
The staffing agency, which OptimumCare previously reported that it had entered into a preliminary agreement to purchase, primarily provides nurses on a temporary basis. It had revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the acquisition involve both cash and stock, as well as a promissory note with an earn out provision.
``We're very happy to have concluded these negotiations so rapidly, and to have added this fine agency to our growing California medical staffing services group,'' said OptimumCare's Chairman & CEO, Edward A. Johnson. ``We increasingly are positioning the company as a key participant in the temporary healthcare staffing services sector.''
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment provides management teams to client hospitals and medical centers on a long-term contract basis to run inpatient and outpatient behavioral health services. The temporary healthcare staffing segment provides temporary skilled nurses, social workers and other professionals to a broad base of medical and healthcare client sites.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare Signs Letter of Intent to Acquire a Southern California Nurse Staffing Agency
Thursday August 28, 9:00 am ET
LAGUNA NIGUEL, Calif., Aug. 28, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News) today announced that it has signed a letter of intent to acquire the stock of a Southern California-based per diem nurse registry.
The staffing agency, which primarily provides nurses on a temporary basis, posted revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the proposed acquisition were not disclosed.
``This transaction is subject to due diligence, including review by the company's auditors and approval by the company's board of directors,'' said OptimumCare's Chairman & CEO, Edward A. Johnson. ``As we have indicated in prior announcements, our goal is to complete one such acquisition on average in each quarter going forward, as we position ourselves increasingly in the temporary healthcare staffing services sector nationwide.''
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment provides management teams to client hospitals and medical centers on a long-term contract basis to run inpatient and outpatient behavioral health services. The temporary healthcare staffing segment provides temporary skilled nurses, social workers and other professionals to a broad base of medical and healthcare client sites.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
-0-
COMPANY: OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
http://www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare Signs Letter of Intent to Acquire a Southern California Nurse Staffing Agency
Thursday August 28, 9:00 am ET
LAGUNA NIGUEL, Calif., Aug. 28, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News) today announced that it has signed a letter of intent to acquire the stock of a Southern California-based per diem nurse registry.
The staffing agency, which primarily provides nurses on a temporary basis, posted revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the proposed acquisition were not disclosed.
``This transaction is subject to due diligence, including review by the company's auditors and approval by the company's board of directors,'' said OptimumCare's Chairman & CEO, Edward A. Johnson. ``As we have indicated in prior announcements, our goal is to complete one such acquisition on average in each quarter going forward, as we position ourselves increasingly in the temporary healthcare staffing services sector nationwide.''
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment provides management teams to client hospitals and medical centers on a long-term contract basis to run inpatient and outpatient behavioral health services. The temporary healthcare staffing segment provides temporary skilled nurses, social workers and other professionals to a broad base of medical and healthcare client sites.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
-0-
COMPANY: OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
http://www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare Signs Letter of Intent to Acquire a Southern California Nurse Staffing Agency
Thursday August 28, 9:00 am ET
LAGUNA NIGUEL, Calif., Aug. 28, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News) today announced that it has signed a letter of intent to acquire the stock of a Southern California-based per diem nurse registry.
The staffing agency, which primarily provides nurses on a temporary basis, posted revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the proposed acquisition were not disclosed.
``This transaction is subject to due diligence, including review by the company's auditors and approval by the company's board of directors,'' said OptimumCare's Chairman & CEO, Edward A. Johnson. ``As we have indicated in prior announcements, our goal is to complete one such acquisition on average in each quarter going forward, as we position ourselves increasingly in the temporary healthcare staffing services sector nationwide.''
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment provides management teams to client hospitals and medical centers on a long-term contract basis to run inpatient and outpatient behavioral health services. The temporary healthcare staffing segment provides temporary skilled nurses, social workers and other professionals to a broad base of medical and healthcare client sites.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
-0-
COMPANY: OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
http://www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: Pacific CMA Inc.
Pacific CMA Reports that Barrow Street Research Reiterates its July Recommendation of Company in Progress Update Issued Today
Tuesday August 26, 9:00 am ET
NEW YORK, August 26, 2003 (PRIMEZONE) -- Pacific CMA Inc. (OTC BB:PCCM.OB - News), a global freight forwarding/supply chain logistics services company, today announced that Barrow Street Research, an independent research firm that commenced coverage of the company last month with a strong buy recommendation, today issued an updated progress report that reiterated its comments in light of recently released quarterly results.
``For the three months ended June 30, 2003,'' the Barrow Street Research report noted, ``revenue rose 60.5%, to $17 million ... For the first six months ... revenue rose $129%, to $31 million. The strong increase in revenue both for the second quarter and first half of 2003 reflect the organic growth of both Pacific's wholly owned subsidiary, AGI Logistics, (HK) Ltd., and its majority owned subsidiary, Airgate International Corp...'' In fact, the research report continued, ``The revenue of Airgate represented approximately 70% of Pacific's total revenue for the second quarter of 2003.''
The report added that the full integration of the Airgate acquisition, along with an expected higher level of new clients, ``will likely have a strong positive effect on revenue growth...'' The report noted that its revenue projections of $70-$80 million for the year had been adjusted from initial levels, reflecting the impact of SARS and the war in Iraq.
Nevertheless, the report concluded, ``...we believe the stock continues to be undervalued and, as mentioned in our earlier report, that Pacific CMA is a company in the right place, with the right solutions, at the right time.'' Last month, Barrow Street Research said it was initiating coverage of Pacific CMA with a strong buy rating, noting the company already maintains more than 128 cargo agents stationed in 68 countries and 161 cities serving major gateways around the world.``
The expectation of a higher level of revenue, referred to in the research report, comes at a time when Pacific CMA is currently participating in the ASAP Global Sourcing Show, the world's largest garment and textile sourcing show, being held this week through August 27 at the Las Vegas Hilton Convention Center. Pacific CMA was selected by ASAP show management to be the official freight forwarder for the trade show, offering it substantial endorsement and potential new marketing opportunities.
The ASAP show has more than 250 garment manufacturers from 35 countries exhibiting. Some of these overseas manufacturers are coming to the United States for the first time to gain container load orders from an estimated audience of approximately 7,000 attendees, comprised of U.S. retailers, manufacturers, importers and buyers.
Pacific CMA Inc. is a non-asset based logistics/freight forwarder providing supply-chain logistics services. Pacific CMA's services include freight forwarding and warehousing services, which encompass the coordination of shipping and the storage of raw materials, supplies, components and finished goods. The Company facilitates the movement of freight to and from anywhere in the world either by air, sea or land, with particular focus on business between the Far East and the United States.
A full copy of the initial and updated research reports by Barrow Street Research are available online at http://www.barrowstreet.com and additional information on Pacific CMA is available at http://www.pacificcma.com.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Pacific CMA Inc.
Investor Relations Network
Tom Gavin
(909) 279-8884
--------------------------------------------------------------------------------
Source: Pacific CMA Inc.
Press Release Source: Pacific CMA Inc.
Pacific CMA Reports that Barrow Street Research Reiterates its July Recommendation of Company in Progress Update Issued Today
Tuesday August 26, 9:00 am ET
NEW YORK, August 26, 2003 (PRIMEZONE) -- Pacific CMA Inc. (OTC BB:PCCM.OB - News), a global freight forwarding/supply chain logistics services company, today announced that Barrow Street Research, an independent research firm that commenced coverage of the company last month with a strong buy recommendation, today issued an updated progress report that reiterated its comments in light of recently released quarterly results.
``For the three months ended June 30, 2003,'' the Barrow Street Research report noted, ``revenue rose 60.5%, to $17 million ... For the first six months ... revenue rose $129%, to $31 million. The strong increase in revenue both for the second quarter and first half of 2003 reflect the organic growth of both Pacific's wholly owned subsidiary, AGI Logistics, (HK) Ltd., and its majority owned subsidiary, Airgate International Corp...'' In fact, the research report continued, ``The revenue of Airgate represented approximately 70% of Pacific's total revenue for the second quarter of 2003.''
The report added that the full integration of the Airgate acquisition, along with an expected higher level of new clients, ``will likely have a strong positive effect on revenue growth...'' The report noted that its revenue projections of $70-$80 million for the year had been adjusted from initial levels, reflecting the impact of SARS and the war in Iraq.
Nevertheless, the report concluded, ``...we believe the stock continues to be undervalued and, as mentioned in our earlier report, that Pacific CMA is a company in the right place, with the right solutions, at the right time.'' Last month, Barrow Street Research said it was initiating coverage of Pacific CMA with a strong buy rating, noting the company already maintains more than 128 cargo agents stationed in 68 countries and 161 cities serving major gateways around the world.``
The expectation of a higher level of revenue, referred to in the research report, comes at a time when Pacific CMA is currently participating in the ASAP Global Sourcing Show, the world's largest garment and textile sourcing show, being held this week through August 27 at the Las Vegas Hilton Convention Center. Pacific CMA was selected by ASAP show management to be the official freight forwarder for the trade show, offering it substantial endorsement and potential new marketing opportunities.
The ASAP show has more than 250 garment manufacturers from 35 countries exhibiting. Some of these overseas manufacturers are coming to the United States for the first time to gain container load orders from an estimated audience of approximately 7,000 attendees, comprised of U.S. retailers, manufacturers, importers and buyers.
Pacific CMA Inc. is a non-asset based logistics/freight forwarder providing supply-chain logistics services. Pacific CMA's services include freight forwarding and warehousing services, which encompass the coordination of shipping and the storage of raw materials, supplies, components and finished goods. The Company facilitates the movement of freight to and from anywhere in the world either by air, sea or land, with particular focus on business between the Far East and the United States.
A full copy of the initial and updated research reports by Barrow Street Research are available online at http://www.barrowstreet.com and additional information on Pacific CMA is available at http://www.pacificcma.com.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Pacific CMA Inc.
Investor Relations Network
Tom Gavin
(909) 279-8884
--------------------------------------------------------------------------------
Source: Pacific CMA Inc.
Press Release Source: Pacific CMA Inc.
Pacific CMA Reports that Barrow Street Research Reiterates its July Recommendation of Company in Progress Update Issued Today
Tuesday August 26, 9:00 am ET
NEW YORK, August 26, 2003 (PRIMEZONE) -- Pacific CMA Inc. (OTC BB:PCCM.OB - News), a global freight forwarding/supply chain logistics services company, today announced that Barrow Street Research, an independent research firm that commenced coverage of the company last month with a strong buy recommendation, today issued an updated progress report that reiterated its comments in light of recently released quarterly results.
``For the three months ended June 30, 2003,'' the Barrow Street Research report noted, ``revenue rose 60.5%, to $17 million ... For the first six months ... revenue rose $129%, to $31 million. The strong increase in revenue both for the second quarter and first half of 2003 reflect the organic growth of both Pacific's wholly owned subsidiary, AGI Logistics, (HK) Ltd., and its majority owned subsidiary, Airgate International Corp...'' In fact, the research report continued, ``The revenue of Airgate represented approximately 70% of Pacific's total revenue for the second quarter of 2003.''
The report added that the full integration of the Airgate acquisition, along with an expected higher level of new clients, ``will likely have a strong positive effect on revenue growth...'' The report noted that its revenue projections of $70-$80 million for the year had been adjusted from initial levels, reflecting the impact of SARS and the war in Iraq.
Nevertheless, the report concluded, ``...we believe the stock continues to be undervalued and, as mentioned in our earlier report, that Pacific CMA is a company in the right place, with the right solutions, at the right time.'' Last month, Barrow Street Research said it was initiating coverage of Pacific CMA with a strong buy rating, noting the company already maintains more than 128 cargo agents stationed in 68 countries and 161 cities serving major gateways around the world.``
The expectation of a higher level of revenue, referred to in the research report, comes at a time when Pacific CMA is currently participating in the ASAP Global Sourcing Show, the world's largest garment and textile sourcing show, being held this week through August 27 at the Las Vegas Hilton Convention Center. Pacific CMA was selected by ASAP show management to be the official freight forwarder for the trade show, offering it substantial endorsement and potential new marketing opportunities.
The ASAP show has more than 250 garment manufacturers from 35 countries exhibiting. Some of these overseas manufacturers are coming to the United States for the first time to gain container load orders from an estimated audience of approximately 7,000 attendees, comprised of U.S. retailers, manufacturers, importers and buyers.
Pacific CMA Inc. is a non-asset based logistics/freight forwarder providing supply-chain logistics services. Pacific CMA's services include freight forwarding and warehousing services, which encompass the coordination of shipping and the storage of raw materials, supplies, components and finished goods. The Company facilitates the movement of freight to and from anywhere in the world either by air, sea or land, with particular focus on business between the Far East and the United States.
A full copy of the initial and updated research reports by Barrow Street Research are available online at http://www.barrowstreet.com and additional information on Pacific CMA is available at http://www.pacificcma.com.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Pacific CMA Inc.
Investor Relations Network
Tom Gavin
(909) 279-8884
--------------------------------------------------------------------------------
Source: Pacific CMA Inc.
Press Release Source: Pacific CMA Inc.
Pacific CMA Engages PiedmontIR, LLC. to Provide Investor Relations and Financial Communications Services
Wednesday August 20, 9:00 am ET
NEW YORK, August 20, 2003 (PRIMEZONE) -- Pacific CMA Inc. (OTC BB:PCCM.OB - News) announced today that it has engaged PiedmontIR, LLC. to provide the company with a complete program of investor relations and financial communications support designed to increase Pacific CMA Inc.'s visibility within the investment community.
PiedmontIR (http://www.PiedmontIR.com) is a national investor relations (IR) firm headquartered in Atlanta, Georgia, with a regional office in New York. PiedmontIR provides comprehensive, customized IR services to small and medium-sized emerging companies. PiedmontIR specializes in investor education to retail investment advisors and institutions along with analyst communications, media relations, market analysis, and development of corporate communications material for its clients.
In commenting on the new relationship, Henrik Christensen, Executive VP and a Director of Pacific CMA said, ``PiedmontIR has an impressive track record of making introductions for its portfolio companies, and cultivating long-term relationships with premier fund managers. We feel this is the opportune time to broaden our existing investor base and increase awareness of our Company and its services by incorporating a more proactive investor relation program.''
As a holding company, Pacific CMA's two main operating units are Hong Kong-based AGI Logistics (HK) Ltd., and New York-based Airgate International, Inc. AGI also maintains operations in Shanghai, as does Airgate in Chicago and San Francisco. Through AGI's arrangements with trucking, shipping and rail companies, it provides door-to-door service throughout Southern China and Hong Kong. AGI also has an established airfreight operations office and leased warehouse in the Hong Kong Air Freight Forwarding Center. From this location, adjacent to the airport, AGI coordinates the exporting of cargo to global ports including Europe, North America, the Indian subcontinent and Australia. Airgate International Corp., of which Pacific CMA became an 81% holder in May 2002, is also, like AGI, a non-asset based logistics services company. Its primary focus is the importing of air and ocean shipments from the Far East and Southwest Asia marketplace to the United States. Airgate International has handled the supply and logistics systems for numerous Fortune 1000 companies. It provides a full range of air and ocean services and also owns and operates its own bonded container station, helping expedite availability of merchandise. Like AGI, Airgate specializes in the fashion/apparel industries, and utilizes all-cargo, chartered aircraft with guaranteed space allowing it, along with AGI, to provide lift capacity from Hong Kong whenever needed. In addition to its own offices, it maintains a global network of exclusive agents that help enhance its growth.
In its latest quarter, ended June 30, 2003, Pacific CMA's revenue rose more than 60%, to $17 million, with airfreight operations representing approximately two thirds of that amount.
To receive press releases and information on Pacific CMA Inc. via email or fax, please sign up at http://www.PiedmontIR.com or call 678-455-3696, or email info@piedmontir.com
This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demands and acceptance, changes in technology, economic conditions, the impact of competition and pricing, and government regulation and approvals. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of Pacific CMA Inc., are expressly qualified by the cautionary statements and any other cautionary statements which accompany the forward-looking statements. In addition, Pacific CMA Inc. disclaims any obligations to update forward-looking statements to reflect events or circumstances after the date hereof. The information contained on any Web site referenced in this press release is not part of this release.
Contact:
Pacific CMA Inc.
Henrik Christensen
(212) 945-7117
http://www.pacificcma.com
PiedmontIR, LLC
R. Keith Fetter / Darren Bankston
(678) 455-3696
http://www.piedmontir.com/
--------------------------------------------------------------------------------
Source: Pacific CMA Inc.
Press Release Source: Pacific CMA Inc.
Pacific CMA Reports Improvements in Second Quarter Results; Reissued Due to Power Failure
Tuesday August 19, 9:00 am ET
NEW YORK, August 19, 2003 (PRIMEZONE) -- Pacific CMA Inc. (OTC BB:PCCM.OB - News), a global freight forwarding/supply chain logistics services company, last Thursday announced that its operating results for the second quarter showed improvements over last year. The company said it was reissuing this news release, as a number of shareholders and others in the investment community indicated they were unaware of its original distribution, primarily due to the power failure that struck the Northeastern U.S. and portions of Canada in the same time frame the release was being sent.
For the three months ended June 30, 2003, revenue rose 60.5%, to $17.0 million, from $10.6 million in the 2002 second quarter. Net income was $203,793, up slightly from $200,254 a year ago. On a per diluted share basis, net income equaled $0.009, versus $0.01 in the year-earlier period, based on a 10% increase in fully diluted shares outstanding this year.
For the first six months ended June 30, 2003, revenue rose 129%, to $31.0 million, from $13.5 million in the 2002 first half. Net income was $95,820, equal to $.004 per diluted share, compared with $181,424, or $.009 per diluted share, in last year's six month period.
The strong increase in revenue for both the second quarter and first half of 2003 reflect the organic growth of both Pacific's wholly owned subsidiary, AGI Logistics (HK) Ltd., and its subsidiary, Airgate International Corp. Pacific acquired Airgate on April 30, 2002. The revenue of Airgate represented approximately 70% of Pacific's total revenue for the second quarter of 2003.
Airgate, which was founded in 1990, is based in New York and primarily handles import air and ocean shipments from the Far East and Southwest Asia to the United States. AGI is based in Hong Kong and focuses on integrated logistics, freight forwarding and warehousing services in the Far East region and Mainland China.
During the second quarter and first half of 2003, Pacific CMA experienced increases in revenue both from air freight and sea freight operations: 50% and 112%, respectively, in each period versus a year ago for air freight; and 85% and 167% in each respective period versus a year earlier for sea freight. The Company's revenue growth in both the first and second quarters of 2003, however, was less than budgeted because of impacts from the second Gulf War and the outbreak of the SARS virus this spring. Both of these factors have dissipated today. Also, during the 2003 second quarter and first half, Pacific CMA incurred increased operating costs primarily resulting from the addition of Airgate's operations.
During the first half of 2003, important new operating expansions included agreements that Pacific CMA entered into with new agency partners in Dubai and Sri Lanka (in addition to recently added agents in Japan and Turkey), as well as planned investment to expand the Company's penetration of the rapidly growing Shanghai marketplace.
``Looking ahead,'' said Alfred Lam, Pacific CMA Chairman, ``we expect continued strong organic growth and to capitalize on our Company's well-established base in Asia, which includes five joint venture/representative offices in the Peoples Republic of China. We are confident that 2003 will be another year of record earnings and revenue, derived from existing operations, for Pacific CMA.'' Mr. Lam added, ``we also plan to make more strategic, accretive acquisitions, both in China and the United States.''
Pacific CMA Inc. is a non-asset based logistics/freight forwarder providing supply-chain logistics services. Pacific CMA's services include freight forwarding and warehousing services, which encompass the coordination of shipping and the storage of raw materials, supplies, components and finished goods. The Company facilitates the movement of freight to and from anywhere in the world either by air, sea or land, with particular focus on business between the Far East and the United States.
PACIFIC CMA, INC.
(CONDENSED CONSOLIDATED BALANCE SHEETS)
(Unaudited)
June 30, December 31,
2003 2002
$ $
ASSETS
Current assets
Cash and cash equivalents 654,443 441,657
Restricted cash 3,031,798 2,655,589
Trade receivables, net of allowance for
doubtful accounts of $137,970 5,961,096 6,464,141
Deposits, prepayments and other 1,980,968 1,116,007
Loan receivable 12,600 249,600
Deferred income taxes 82,350 82,350
---------- ----------
Total current assets 11,723,255 11,009,344
Property, plant and equipment, net 307,604 361,578
Goodwill 2,683,768 2,683,768
Intangible asset, net 2,192,667 2,478,667
Deferred taxes 2,613 2,613
Loan receivable 64,934 66,224
Certificate of deposit 50,000 50,000
---------- ----------
Total assets 17,024,841 16,652,194
========== ==========
LIABILIITES AND STOCKHOLDERS' EQUITY
Current liabilities
Bank overdrafts 2,110,968 742,914
Trade payables 7,767,762 7,855,965
Accrued charges and other creditors 253,332 509,316
Due to a director 97,868 411,667
Obligations under finance leases 36,150 38,124
Debt maturing within one year 187,858 479,607
Tax payable 222,779 240,845
---------- ----------
Total current liabilities 10,676,717 10,278,438
Obligations under finance leases 45,068 37,820
Deferred tax liability 452,047 580,747
---------- ----------
Total liabilities 11,173,832 10,897,005
---------- ----------
Commitments and contingencies (Note 9) -- --
Stockholders' equity
Common stock with no par value 1,551,865 1,551,865
Additional paid-in capital 1,786,718 1,786,718
Other comprehensive loss (8,325) (8,325)
Retained earnings 2,520,751 2,424,931
---------- ----------
Total stockholders' equity 5,851,009 5,755,189
---------- ----------
Total liabilities and stockholders' equity 17,024,841 16,652,194
========== ==========
See notes to condensed consolidated financial statements.
PACIFIC CMA, INC.
(CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS)
(Unaudited) (Unaudited)
Three months ended Six months ended
June 30, June 30,
2003 2002 2003 2002
----------- ----------- ----------- -----------
$ $ $ $
Freight forwarding
income 16,961,821 10,569,264 30,988,201 13,546,135
----------- ----------- ----------- -----------
Operating expenses
Cost of
forwarding (14,309,698) (8,896,061) (26,003,696) (11,244,767)
Selling and
administrative
expenses (2,284,107) (1,282,752) (4,590,107) (1,873,974)
Depreciation and
amortization (193,635) (148,384) (386,736) (198,226)
----------- ----------- ----------- -----------
Total operating
expenses (16,787,440) (10,327,197) (30,980,539) (13,316,967)
----------- ----------- ----------- -----------
Income from
operations 174,381 242,067 7,662 229,168
----------- ----------- ----------- -----------
Non-operating
income (expense)
Net gain on
disposal of a
subsidiary -- 11,390 -- 11,390
Interest and
other income 38,643 39,450 86,143 53,534
Interest expense (39,235) (25,363) (82,961) (40,117)
----------- ----------- ----------- -----------
Net non-operating
income (expense) (592) 25,477 3,182 24,807
----------- ----------- ----------- -----------
Income before
income taxes 173,789 267,544 10,844 253,975
Provision for
income taxes 30,004 (67,290) 84,976 (72,551)
----------- ----------- ----------- -----------
Net income 203,793 200,254 95,820 181,424
=========== =========== =========== ===========
Net income per share
Weighted average
number of shares
outstanding
Basic 22,423,350 20,368,713 22,422,812 20,368,713
=========== =========== =========== ===========
Diluted 22,596,778 20,552,380 22,596,240 20,552,380
=========== =========== =========== ===========
Net income per
share of
common stock
Basic and Diluted 0.009 0.010 0.004 0.009
=========== =========== =========== ===========
A full copy of a recent research report on the Company is available online at http://www.barrowstreet.com and additional information on Pacific CMA is available on the Company's own web site at http://www.pacificcma.com.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Investor Relations Network
Tom Gavin
(909)-279-8884
--------------------------------------------------------------------------------
Source: Pacific CMA Inc.
Press Release Source: OptimumCare Corporation
OptimumCare's President Discusses Recent Operating Results and Future Plans on Internet Web Radio Interview by IPOdesktop.com
Tuesday August 26, 9:00 am ET
LOS ANGELES, August 26, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed Chairman and CEO Edward A. Johnson about the company's recently completed second quarter results, as well as the future outlook for the rapidly growing company.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Johnson. Listeners may hear the interview by accessing it through RealAudio at http://gaskinsco.com/opmc4.ram or via Windows Media at http://mmslb.eonstreams.com/gaskins/opmc4.wma.
During the interview, Johnson points outs that the company's revenues continue to benefit from the strong performance of its staffing services units. He said that overall staffing service operations in the most recent quarter accounted for 60% of overall revenues.
Johnson also reported that the company's behavioral healthcare programs continued to operate as planned, and that OptimumCare's contracts with Sherman Oaks Hospital have just been renewed. He said the company is pursuing a number of leads focused on adding new behavioral healthcare contracts.
He also said he anticipated that OptimumCare would make as many as two additional staffing service acquisitions by the end of the year, and that staffing service facilities would then represent 70-80% of total revenues. He also noted the addition of staffing service offices in San Francisco and Jacksonville, Florida as evidence of the overall strength in the staffing services marketplace.
The company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably. It has already made three staffing acquisitions, two in the Los Angeles area, and another in Orlando, Florida. All are committed to the deliver of highly qualified nurses and social workers when clients find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear it at http://gaskinsco.com/opmc.ram or http://mmslb.eonstreams.com/gaskins/opmc.wma.
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, health-care reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare's President Discusses Recent Operating Results and Future Plans on Internet Web Radio Interview by IPOdesktop.com
Tuesday August 26, 9:00 am ET
LOS ANGELES, August 26, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed Chairman and CEO Edward A. Johnson about the company's recently completed second quarter results, as well as the future outlook for the rapidly growing company.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Johnson. Listeners may hear the interview by accessing it through RealAudio at http://gaskinsco.com/opmc4.ram or via Windows Media at http://mmslb.eonstreams.com/gaskins/opmc4.wma.
During the interview, Johnson points outs that the company's revenues continue to benefit from the strong performance of its staffing services units. He said that overall staffing service operations in the most recent quarter accounted for 60% of overall revenues.
Johnson also reported that the company's behavioral healthcare programs continued to operate as planned, and that OptimumCare's contracts with Sherman Oaks Hospital have just been renewed. He said the company is pursuing a number of leads focused on adding new behavioral healthcare contracts.
He also said he anticipated that OptimumCare would make as many as two additional staffing service acquisitions by the end of the year, and that staffing service facilities would then represent 70-80% of total revenues. He also noted the addition of staffing service offices in San Francisco and Jacksonville, Florida as evidence of the overall strength in the staffing services marketplace.
The company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably. It has already made three staffing acquisitions, two in the Los Angeles area, and another in Orlando, Florida. All are committed to the deliver of highly qualified nurses and social workers when clients find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear it at http://gaskinsco.com/opmc.ram or http://mmslb.eonstreams.com/gaskins/opmc.wma.
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, health-care reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare's President Discusses Recent Operating Results and Future Plans on Internet Web Radio Interview by IPOdesktop.com
Tuesday August 26, 9:00 am ET
LOS ANGELES, August 26, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed Chairman and CEO Edward A. Johnson about the company's recently completed second quarter results, as well as the future outlook for the rapidly growing company.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Johnson. Listeners may hear the interview by accessing it through RealAudio at http://gaskinsco.com/opmc4.ram or via Windows Media at http://mmslb.eonstreams.com/gaskins/opmc4.wma.
During the interview, Johnson points outs that the company's revenues continue to benefit from the strong performance of its staffing services units. He said that overall staffing service operations in the most recent quarter accounted for 60% of overall revenues.
Johnson also reported that the company's behavioral healthcare programs continued to operate as planned, and that OptimumCare's contracts with Sherman Oaks Hospital have just been renewed. He said the company is pursuing a number of leads focused on adding new behavioral healthcare contracts.
He also said he anticipated that OptimumCare would make as many as two additional staffing service acquisitions by the end of the year, and that staffing service facilities would then represent 70-80% of total revenues. He also noted the addition of staffing service offices in San Francisco and Jacksonville, Florida as evidence of the overall strength in the staffing services marketplace.
The company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably. It has already made three staffing acquisitions, two in the Los Angeles area, and another in Orlando, Florida. All are committed to the deliver of highly qualified nurses and social workers when clients find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear it at http://gaskinsco.com/opmc.ram or http://mmslb.eonstreams.com/gaskins/opmc.wma.
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, health-care reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare Corporation Reports Second Quarter Net Revenues Up 52% Compared With Prior Year; Growing Temporary Staffing Services Represent 60% of Six Month Revenues
Tuesday August 12, 3:47 pm ET
LAGUNA NIGUEL, Calif., Aug. 12, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News), a behavioral healthcare and temporary staffing services provider, today announced that net revenues of $1,905,474 for the second quarter, ended June 30, 2003, were up 52%, compared with $1,255,595 in the same period last year, with temporary staffing services now representing 60% of revenues for the first six months of the year.
The company reported a net loss of $97,162 or $0.02 per diluted share. This compares with a reported net profit of $83,382 for the second quarter in 2002, which included a one time revenue item, and without that item the loss before income taxes for the 2002 second quarter would have been comparable to the current quarter.
For the six months ended June 30, 2003, net revenues were $3,326,953, with a loss of $0.03 per share, compared with revenues of $2,652,099, and a loss of $0.01 per share for the prior year six-month period.
``We are continuing to execute on our announced strategy of growing the revenues of OptimumCare through a combination of both internal growth and acquisitions in the temporary health care staffing field,'' said Edward A. Johnson, Chief Executive Officer. ``Our contract services business continues to perform well, and we have an aggressive marketing program in place to selectively increase the number of our psychiatric program contracts.''
Mr. Johnson added, ``Our temporary health care worker staffing segment is growing through acquisition and internal growth, and represented roughly 60% of revenues for the first six months of 2003. We are experiencing quarter over quarter growth in our acquired temporary staffing business, and we will continue to acquire strategic staffing offices and business units. We are investing significant time and resources in the acquisition search process.''
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare Corporation today provides a wide range of inpatient and outpatient behavioral health services through a network of affiliated hospitals and medical centers. In addition, the company has a growing presence in the temporary health care staffing business.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payout amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
SELECTED FINANCIAL RESULTS
(UNAUDITED)
Period Ending Six Months Six Months Three Months Three Months
June 30, June 30, June 30, June 30,
2003 2002 2003 2002
Total Revenues $3,326,953 $2,652,099 $1,905,474 $1,255,595
Income (loss)
before taxes ($ 258,980) ($ 58,869) ($ 158,955) $ 143,483
Income (loss)
after taxes ($ 168,844) ($ 42,769) ($ 97,162) $ 83,382
Diluted Earnings
(loss) per
share ($ .03) ($ .01) ($ .02) $ .01
Total Assets $2,633,258 $ 2,754,122 $2,633,258 2,754,122
Shares used for
diluted earnings
per share 5,908,675 5,976,213 5,908,675 6,043,751
Contact:
OptimumCare Corporation
Ed Johnson, Chairman and CEO
(800) 771-7202
www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Error Sorry
Press Release Source: OptimumCare Corporation
OptimumCare Corporation Reports Second Quarter Net Revenues Up 52% Compared With Prior Year; Growing Temporary Staffing Services Represent 60% of Six Month Revenues
Tuesday August 12, 3:47 pm ET
LAGUNA NIGUEL, Calif., Aug. 12, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News), a behavioral healthcare and temporary staffing services provider, today announced that net revenues of $1,905,474 for the second quarter, ended June 30, 2003, were up 52%, compared with $1,255,595 in the same period last year, with temporary staffing services now representing 60% of revenues for the first six months of the year.
The company reported a net loss of $97,162 or $0.02 per diluted share. This compares with a reported net profit of $83,382 for the second quarter in 2002, which included a one time revenue item, and without that item the loss before income taxes for the 2002 second quarter would have been comparable to the current quarter.
For the six months ended June 30, 2003, net revenues were $3,326,953, with a loss of $0.03 per share, compared with revenues of $2,652,099, and a loss of $0.01 per share for the prior year six-month period.
``We are continuing to execute on our announced strategy of growing the revenues of OptimumCare through a combination of both internal growth and acquisitions in the temporary health care staffing field,'' said Edward A. Johnson, Chief Executive Officer. ``Our contract services business continues to perform well, and we have an aggressive marketing program in place to selectively increase the number of our psychiatric program contracts.''
Mr. Johnson added, ``Our temporary health care worker staffing segment is growing through acquisition and internal growth, and represented roughly 60% of revenues for the first six months of 2003. We are experiencing quarter over quarter growth in our acquired temporary staffing business, and we will continue to acquire strategic staffing offices and business units. We are investing significant time and resources in the acquisition search process.''
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare Corporation today provides a wide range of inpatient and outpatient behavioral health services through a network of affiliated hospitals and medical centers. In addition, the company has a growing presence in the temporary health care staffing business.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payout amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
SELECTED FINANCIAL RESULTS
(UNAUDITED)
Period Ending Six Months Six Months Three Months Three Months
June 30, June 30, June 30, June 30,
2003 2002 2003 2002
Total Revenues $3,326,953 $2,652,099 $1,905,474 $1,255,595
Income (loss)
before taxes ($ 258,980) ($ 58,869) ($ 158,955) $ 143,483
Income (loss)
after taxes ($ 168,844) ($ 42,769) ($ 97,162) $ 83,382
Diluted Earnings
(loss) per
share ($ .03) ($ .01) ($ .02) $ .01
Total Assets $2,633,258 $ 2,754,122 $2,633,258 2,754,122
Shares used for
diluted earnings
per share 5,908,675 5,976,213 5,908,675 6,043,751
Contact:
OptimumCare Corporation
Ed Johnson, Chairman and CEO
(800) 771-7202
www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: OptimumCare Corporation
OptimumCare Corporation Reports Second Quarter Net Revenues Up 52% Compared With Prior Year; Growing Temporary Staffing Services Represent 60% of Six Month Revenues
Tuesday August 12, 3:47 pm ET
LAGUNA NIGUEL, Calif., Aug. 12, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News), a behavioral healthcare and temporary staffing services provider, today announced that net revenues of $1,905,474 for the second quarter, ended June 30, 2003, were up 52%, compared with $1,255,595 in the same period last year, with temporary staffing services now representing 60% of revenues for the first six months of the year.
The company reported a net loss of $97,162 or $0.02 per diluted share. This compares with a reported net profit of $83,382 for the second quarter in 2002, which included a one time revenue item, and without that item the loss before income taxes for the 2002 second quarter would have been comparable to the current quarter.
For the six months ended June 30, 2003, net revenues were $3,326,953, with a loss of $0.03 per share, compared with revenues of $2,652,099, and a loss of $0.01 per share for the prior year six-month period.
``We are continuing to execute on our announced strategy of growing the revenues of OptimumCare through a combination of both internal growth and acquisitions in the temporary health care staffing field,'' said Edward A. Johnson, Chief Executive Officer. ``Our contract services business continues to perform well, and we have an aggressive marketing program in place to selectively increase the number of our psychiatric program contracts.''
Mr. Johnson added, ``Our temporary health care worker staffing segment is growing through acquisition and internal growth, and represented roughly 60% of revenues for the first six months of 2003. We are experiencing quarter over quarter growth in our acquired temporary staffing business, and we will continue to acquire strategic staffing offices and business units. We are investing significant time and resources in the acquisition search process.''
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare Corporation today provides a wide range of inpatient and outpatient behavioral health services through a network of affiliated hospitals and medical centers. In addition, the company has a growing presence in the temporary health care staffing business.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payout amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
SELECTED FINANCIAL RESULTS
(UNAUDITED)
Period Ending Six Months Six Months Three Months Three Months
June 30, June 30, June 30, June 30,
2003 2002 2003 2002
Total Revenues $3,326,953 $2,652,099 $1,905,474 $1,255,595
Income (loss)
before taxes ($ 258,980) ($ 58,869) ($ 158,955) $ 143,483
Income (loss)
after taxes ($ 168,844) ($ 42,769) ($ 97,162) $ 83,382
Diluted Earnings
(loss) per
share ($ .03) ($ .01) ($ .02) $ .01
Total Assets $2,633,258 $ 2,754,122 $2,633,258 2,754,122
Shares used for
diluted earnings
per share 5,908,675 5,976,213 5,908,675 6,043,751
Contact:
OptimumCare Corporation
Ed Johnson, Chairman and CEO
(800) 771-7202
www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication CEO, in Letter to Shareholders, Discusses Opportunities for U.S. Investors to Participate in Strong Growth Prospects Through Ownership of Its China Cable TV Network
Wednesday August 6, 12:47 pm ET
HONG KONG, Aug. 6 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), in a letter to shareholders from Chief Executive Officer Ray Kwan, today said that the company represents the first really significant opportunity for U.S. investors to have direct ownership in a People's Republic of China (PRC) cable TV network. Indeed, he said, the company also has the rare distinction of being the first foreign investor in, and first foreign operator of, this growing network, in a country with one fifth of the world's population, whose cable and communication needs are growing exponentially.
"Moreover," said Kwan "our license permits us to explore additional acquisitions, since we have the rare opportunity to be the only Chinese cable TV network with access to foreign capital. We have the advantage of a seasoned management team with good strategic direction, and can already say that in the past month of July we have begun to execute that strategy to maximize shareholder value, and take advantage of what is a huge marketplace for our services.
"As of today," the CEO continued, "our joint venture company has more than 200,000 subscribers in a market with a population of over 10 million. In addition to its cable television transmission services, the joint venture also offers Internet access, and anticipates that it will be able to offer value added services such as broadband Internet access, virtual private network and bulk data transmission services by the end of 2003.
"We are the first company approved by China's State Administration for Radio, Film and Television, to own interest in, and provide operational management support to, existing cable television networks in the PRC.," Kwan said. "To better identify our mission, the company, which is registered in Delaware, last month changed its name from Nova International Films to China Cable and Communication, Inc. and its trading ticker symbol to CCCI, consistent with that name change. We also have retained counsel for financial public relations, and abandoned an earlier planned reverse stock split, reflecting our belief that such as action at this time would not significantly affect our planned growth."
Kwan noted that the company has also put in place a new management team, whose collective experience will help take the company to its next level of development, with Gareth Tang as our Chairman and CFO, himself as CEO and a Director as well, and the appointment of two additional members of our Board of Directors, Jun-Tang Zhao and George Raney. All four parties, Kwan noted, have many successful years of experience in finance and management, working with corporate and international banking businesses in the PRC. In fact, said the CEO, Gareth has extensive working experience in management of US, Australian and Hong Kong listed companies. He is a former deputy chairman and chief executive officer of China Prosperity International Holdings Limited and Prosper eVision Limited (Stock code: 979), a listed public company in Hong Kong. Under his leadership, he successfully raised not less than $20 million for those companies through private placements.
Raney is a former executive of Millennium Capital Partners, the U.S. advisor to China.com. He has managed U.S. corporate development for China projects since 1994, when he introduced China Industrial Group to its acquisition of NASDAQ listed Generation 5 Technology, and subsequently raised $15 million for the company through private placements.
The CEO concluded by saying, "We thank you for your many expressions of support as we have move ahead with our joint venture, with our goal of maximizing shareholder value, and reporting to you regularly on our progress."
About China Cable and Communication, Inc.:
China Cable and Communication, Inc. offers U.S. investors the first opportunity to become shareholders in a People's Republic of China (PRC) cable television network. Through its British Virgin Island subsidiary, the company is the first foreign investor to own and operate a cable television network in China. China Cable and Communication owns a 49% interest in, and represents three of the seven board of directors of, Baoding Pascali Cable Television Network, through a license that allows the company to make additional investments in PRC networks. Located 85 miles south of Beijing, the network has more than 200,000 subscribers within a population of 10 million, and is the first China cable television network granted access to foreign capital. The company's expansion strategy is to develop a premium cable service, which will include two-way transmission of voice and Internet data, and to seek merger and acquisition opportunities in China. China Cable and Communication, Inc. recently obtained control of a U.S. listed public company, obtaining the ticker symbol CCCI, in order to facilitate financing of its strategy.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.
--------------------------------------------------------------------------------
Source: China Cable and Communication, Inc.
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication CEO, in Letter to Shareholders, Discusses Opportunities for U.S. Investors to Participate in Strong Growth Prospects Through Ownership of Its China Cable TV Network
Wednesday August 6, 12:47 pm ET
HONG KONG, Aug. 6 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), in a letter to shareholders from Chief Executive Officer Ray Kwan, today said that the company represents the first really significant opportunity for U.S. investors to have direct ownership in a People's Republic of China (PRC) cable TV network. Indeed, he said, the company also has the rare distinction of being the first foreign investor in, and first foreign operator of, this growing network, in a country with one fifth of the world's population, whose cable and communication needs are growing exponentially.
"Moreover," said Kwan "our license permits us to explore additional acquisitions, since we have the rare opportunity to be the only Chinese cable TV network with access to foreign capital. We have the advantage of a seasoned management team with good strategic direction, and can already say that in the past month of July we have begun to execute that strategy to maximize shareholder value, and take advantage of what is a huge marketplace for our services.
"As of today," the CEO continued, "our joint venture company has more than 200,000 subscribers in a market with a population of over 10 million. In addition to its cable television transmission services, the joint venture also offers Internet access, and anticipates that it will be able to offer value added services such as broadband Internet access, virtual private network and bulk data transmission services by the end of 2003.
"We are the first company approved by China's State Administration for Radio, Film and Television, to own interest in, and provide operational management support to, existing cable television networks in the PRC.," Kwan said. "To better identify our mission, the company, which is registered in Delaware, last month changed its name from Nova International Films to China Cable and Communication, Inc. and its trading ticker symbol to CCCI, consistent with that name change. We also have retained counsel for financial public relations, and abandoned an earlier planned reverse stock split, reflecting our belief that such as action at this time would not significantly affect our planned growth."
Kwan noted that the company has also put in place a new management team, whose collective experience will help take the company to its next level of development, with Gareth Tang as our Chairman and CFO, himself as CEO and a Director as well, and the appointment of two additional members of our Board of Directors, Jun-Tang Zhao and George Raney. All four parties, Kwan noted, have many successful years of experience in finance and management, working with corporate and international banking businesses in the PRC. In fact, said the CEO, Gareth has extensive working experience in management of US, Australian and Hong Kong listed companies. He is a former deputy chairman and chief executive officer of China Prosperity International Holdings Limited and Prosper eVision Limited (Stock code: 979), a listed public company in Hong Kong. Under his leadership, he successfully raised not less than $20 million for those companies through private placements.
Raney is a former executive of Millennium Capital Partners, the U.S. advisor to China.com. He has managed U.S. corporate development for China projects since 1994, when he introduced China Industrial Group to its acquisition of NASDAQ listed Generation 5 Technology, and subsequently raised $15 million for the company through private placements.
The CEO concluded by saying, "We thank you for your many expressions of support as we have move ahead with our joint venture, with our goal of maximizing shareholder value, and reporting to you regularly on our progress."
About China Cable and Communication, Inc.:
China Cable and Communication, Inc. offers U.S. investors the first opportunity to become shareholders in a People's Republic of China (PRC) cable television network. Through its British Virgin Island subsidiary, the company is the first foreign investor to own and operate a cable television network in China. China Cable and Communication owns a 49% interest in, and represents three of the seven board of directors of, Baoding Pascali Cable Television Network, through a license that allows the company to make additional investments in PRC networks. Located 85 miles south of Beijing, the network has more than 200,000 subscribers within a population of 10 million, and is the first China cable television network granted access to foreign capital. The company's expansion strategy is to develop a premium cable service, which will include two-way transmission of voice and Internet data, and to seek merger and acquisition opportunities in China. China Cable and Communication, Inc. recently obtained control of a U.S. listed public company, obtaining the ticker symbol CCCI, in order to facilitate financing of its strategy.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.
--------------------------------------------------------------------------------
Source: China Cable and Communication, Inc.
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication CEO, in Letter to Shareholders, Discusses Opportunities for U.S. Investors to Participate in Strong Growth Prospects Through Ownership of Its China Cable TV Network
Wednesday August 6, 12:47 pm ET
HONG KONG, Aug. 6 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), in a letter to shareholders from Chief Executive Officer Ray Kwan, today said that the company represents the first really significant opportunity for U.S. investors to have direct ownership in a People's Republic of China (PRC) cable TV network. Indeed, he said, the company also has the rare distinction of being the first foreign investor in, and first foreign operator of, this growing network, in a country with one fifth of the world's population, whose cable and communication needs are growing exponentially.
"Moreover," said Kwan "our license permits us to explore additional acquisitions, since we have the rare opportunity to be the only Chinese cable TV network with access to foreign capital. We have the advantage of a seasoned management team with good strategic direction, and can already say that in the past month of July we have begun to execute that strategy to maximize shareholder value, and take advantage of what is a huge marketplace for our services.
"As of today," the CEO continued, "our joint venture company has more than 200,000 subscribers in a market with a population of over 10 million. In addition to its cable television transmission services, the joint venture also offers Internet access, and anticipates that it will be able to offer value added services such as broadband Internet access, virtual private network and bulk data transmission services by the end of 2003.
"We are the first company approved by China's State Administration for Radio, Film and Television, to own interest in, and provide operational management support to, existing cable television networks in the PRC.," Kwan said. "To better identify our mission, the company, which is registered in Delaware, last month changed its name from Nova International Films to China Cable and Communication, Inc. and its trading ticker symbol to CCCI, consistent with that name change. We also have retained counsel for financial public relations, and abandoned an earlier planned reverse stock split, reflecting our belief that such as action at this time would not significantly affect our planned growth."
Kwan noted that the company has also put in place a new management team, whose collective experience will help take the company to its next level of development, with Gareth Tang as our Chairman and CFO, himself as CEO and a Director as well, and the appointment of two additional members of our Board of Directors, Jun-Tang Zhao and George Raney. All four parties, Kwan noted, have many successful years of experience in finance and management, working with corporate and international banking businesses in the PRC. In fact, said the CEO, Gareth has extensive working experience in management of US, Australian and Hong Kong listed companies. He is a former deputy chairman and chief executive officer of China Prosperity International Holdings Limited and Prosper eVision Limited (Stock code: 979), a listed public company in Hong Kong. Under his leadership, he successfully raised not less than $20 million for those companies through private placements.
Raney is a former executive of Millennium Capital Partners, the U.S. advisor to China.com. He has managed U.S. corporate development for China projects since 1994, when he introduced China Industrial Group to its acquisition of NASDAQ listed Generation 5 Technology, and subsequently raised $15 million for the company through private placements.
The CEO concluded by saying, "We thank you for your many expressions of support as we have move ahead with our joint venture, with our goal of maximizing shareholder value, and reporting to you regularly on our progress."
About China Cable and Communication, Inc.:
China Cable and Communication, Inc. offers U.S. investors the first opportunity to become shareholders in a People's Republic of China (PRC) cable television network. Through its British Virgin Island subsidiary, the company is the first foreign investor to own and operate a cable television network in China. China Cable and Communication owns a 49% interest in, and represents three of the seven board of directors of, Baoding Pascali Cable Television Network, through a license that allows the company to make additional investments in PRC networks. Located 85 miles south of Beijing, the network has more than 200,000 subscribers within a population of 10 million, and is the first China cable television network granted access to foreign capital. The company's expansion strategy is to develop a premium cable service, which will include two-way transmission of voice and Internet data, and to seek merger and acquisition opportunities in China. China Cable and Communication, Inc. recently obtained control of a U.S. listed public company, obtaining the ticker symbol CCCI, in order to facilitate financing of its strategy.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.
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Source: China Cable and Communication, Inc.
Press Release Source: Pacific CMA Inc.; Cyber Merchants Exchange
Pacific CMA is Designated the Official Freight Forwarder for ASAP, The World's Largest Garment and Textile Sourcing Show in Las Vegas
Wednesday August 6, 9:00 am ET
LOS ANGELES, August 6, 2003 (PRIMEZONE) -- Pacific CMA Inc. (OTC BB:PCCM.OB - News), a global freight forwarding/logistics services company, today announced that it has been designated as the official freight forwarder for the ASAP Global Sourcing Show, the World's Largest Garment and Textile Sourcing Show, being held this month in Las Vegas. The ASAP Show is scheduled to run from August 24-27 at the Las Vegas Hilton Convention Center.
The ASAP show currently has more than 250 garment manufacturers from 35 countries exhibiting. Some of these overseas manufacturers are coming to the United States for the first time to gain container load orders from an estimated audience of approximately 7,000 attendees comprised of U.S. retailers, manufacturers, importers and buyers.
Frank Yuan, the brainchild of the ASAP Show, CEO and Chairman of the parent company, Cyber Merchants Exchange (OTC BB:CMEE.OB - News), said: ``We are very glad to designate a rapidly growing company such as Pacific CMA to be the official freight forwarder for the ASAP Show. The reason we chose Pacific CMA is because they are an equally fast growing company as cyber merchants.''
``Through Pacific CMA's more than 128 freight logistics agents, stationed in 68 countries serving major gateways around the world, they will provide the freight forwarding and logistics solutions for our many exhibitors. I am certain that this strategic partnership will continue to grow into the future ASAP Shows and be prosperous for everyone,'' said Yuan.
``Global forwarding and logistic services are an intricate part of our ASAP Global Sourcing Show. Our 7,000 plus attendees will need the professional apparel logistic company assistance to carry their orders from overseas to the U.S. in the most efficient and cost effective way. Pacific CMA was chosen for its apparel specific emphasis and service oriented object in mind. We have reviewed other freight forwarders and found that Pacific CMA most appropriately matches our company's business strategy...Think globally, act locally,'' said Yuan.
In response, Pacific CMA Chairman Alfred Lam said: ``We are deeply honored that we have been designated as the official freight forwarder for this ASAP Show. This strategic relationship will offer us many opportunities to meet current and potential garment clients. We hope to be an important part of the ASAP Global Sourcing Show, and we will do our best to service the tradeshow exhibitors and attendees to provide transportation to a rapidly growing global trading environment.''
Pacific CMA will be present at the show, staffed with senior executives from its Hong Kong office, as well as Los Angeles, San Francisco and New York offices. Attendees to the ASAP Show are asked to pre-register online at the following link: http://www.asapshow.com.
ABOUT PACIFIC CMA (http://www.pacificcma.com)
More information on the company is available online at http://www.barrowstreet.com and also at http://www.pacificcma.com.
ABOUT CYBER MERCHANTS EXCHANGE, INC. (http://www.C-Me.com)
C-Me is an international electronic trading and logistics company, creating efficiencies for retailers to source and finance international purchases. C-Me offers its patent pending Global Financial Platform allowing U.S. buyers to purchase overseas merchandise without the need of issuing a Letter of Credit. The ASAP Global Sourcing Show, a natural extension of C-Me, is held twice a year in Las Vegas, Nevada. ASAP's mission is to establish a premier venue for leading international textile and apparel full package factories to conduct business under one roof with global buyers. The Company presently has 25 offices located throughout the world.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Pacific CMA Inc.
Henrik Christensen
(212) 945-7117
ASAP Show
Laurie Boon
(626) 636-2530 x 134
--------------------------------------------------------------------------------
Source: Pacific CMA Inc.; Cyber Merchants Exchange
Press Release Source: Pacific CMA Inc.; Cyber Merchants Exchange
Pacific CMA is Designated the Official Freight Forwarder for ASAP, The World's Largest Garment and Textile Sourcing Show in Las Vegas
Wednesday August 6, 9:00 am ET
LOS ANGELES, August 6, 2003 (PRIMEZONE) -- Pacific CMA Inc. (OTC BB:PCCM.OB - News), a global freight forwarding/logistics services company, today announced that it has been designated as the official freight forwarder for the ASAP Global Sourcing Show, the World's Largest Garment and Textile Sourcing Show, being held this month in Las Vegas. The ASAP Show is scheduled to run from August 24-27 at the Las Vegas Hilton Convention Center.
The ASAP show currently has more than 250 garment manufacturers from 35 countries exhibiting. Some of these overseas manufacturers are coming to the United States for the first time to gain container load orders from an estimated audience of approximately 7,000 attendees comprised of U.S. retailers, manufacturers, importers and buyers.
Frank Yuan, the brainchild of the ASAP Show, CEO and Chairman of the parent company, Cyber Merchants Exchange (OTC BB:CMEE.OB - News), said: ``We are very glad to designate a rapidly growing company such as Pacific CMA to be the official freight forwarder for the ASAP Show. The reason we chose Pacific CMA is because they are an equally fast growing company as cyber merchants.''
``Through Pacific CMA's more than 128 freight logistics agents, stationed in 68 countries serving major gateways around the world, they will provide the freight forwarding and logistics solutions for our many exhibitors. I am certain that this strategic partnership will continue to grow into the future ASAP Shows and be prosperous for everyone,'' said Yuan.
``Global forwarding and logistic services are an intricate part of our ASAP Global Sourcing Show. Our 7,000 plus attendees will need the professional apparel logistic company assistance to carry their orders from overseas to the U.S. in the most efficient and cost effective way. Pacific CMA was chosen for its apparel specific emphasis and service oriented object in mind. We have reviewed other freight forwarders and found that Pacific CMA most appropriately matches our company's business strategy...Think globally, act locally,'' said Yuan.
In response, Pacific CMA Chairman Alfred Lam said: ``We are deeply honored that we have been designated as the official freight forwarder for this ASAP Show. This strategic relationship will offer us many opportunities to meet current and potential garment clients. We hope to be an important part of the ASAP Global Sourcing Show, and we will do our best to service the tradeshow exhibitors and attendees to provide transportation to a rapidly growing global trading environment.''
Pacific CMA will be present at the show, staffed with senior executives from its Hong Kong office, as well as Los Angeles, San Francisco and New York offices. Attendees to the ASAP Show are asked to pre-register online at the following link: http://www.asapshow.com.
ABOUT PACIFIC CMA (http://www.pacificcma.com)
More information on the company is available online at http://www.barrowstreet.com and also at http://www.pacificcma.com.
ABOUT CYBER MERCHANTS EXCHANGE, INC. (http://www.C-Me.com)
C-Me is an international electronic trading and logistics company, creating efficiencies for retailers to source and finance international purchases. C-Me offers its patent pending Global Financial Platform allowing U.S. buyers to purchase overseas merchandise without the need of issuing a Letter of Credit. The ASAP Global Sourcing Show, a natural extension of C-Me, is held twice a year in Las Vegas, Nevada. ASAP's mission is to establish a premier venue for leading international textile and apparel full package factories to conduct business under one roof with global buyers. The Company presently has 25 offices located throughout the world.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Pacific CMA Inc.
Henrik Christensen
(212) 945-7117
ASAP Show
Laurie Boon
(626) 636-2530 x 134
--------------------------------------------------------------------------------
Source: Pacific CMA Inc.; Cyber Merchants Exchange
Press Release Source: Pacific CMA Inc.; Cyber Merchants Exchange
Pacific CMA is Designated the Official Freight Forwarder for ASAP, The World's Largest Garment and Textile Sourcing Show in Las Vegas
Wednesday August 6, 9:00 am ET
LOS ANGELES, August 6, 2003 (PRIMEZONE) -- Pacific CMA Inc. (OTC BB:PCCM.OB - News), a global freight forwarding/logistics services company, today announced that it has been designated as the official freight forwarder for the ASAP Global Sourcing Show, the World's Largest Garment and Textile Sourcing Show, being held this month in Las Vegas. The ASAP Show is scheduled to run from August 24-27 at the Las Vegas Hilton Convention Center.
The ASAP show currently has more than 250 garment manufacturers from 35 countries exhibiting. Some of these overseas manufacturers are coming to the United States for the first time to gain container load orders from an estimated audience of approximately 7,000 attendees comprised of U.S. retailers, manufacturers, importers and buyers.
Frank Yuan, the brainchild of the ASAP Show, CEO and Chairman of the parent company, Cyber Merchants Exchange (OTC BB:CMEE.OB - News), said: ``We are very glad to designate a rapidly growing company such as Pacific CMA to be the official freight forwarder for the ASAP Show. The reason we chose Pacific CMA is because they are an equally fast growing company as cyber merchants.''
``Through Pacific CMA's more than 128 freight logistics agents, stationed in 68 countries serving major gateways around the world, they will provide the freight forwarding and logistics solutions for our many exhibitors. I am certain that this strategic partnership will continue to grow into the future ASAP Shows and be prosperous for everyone,'' said Yuan.
``Global forwarding and logistic services are an intricate part of our ASAP Global Sourcing Show. Our 7,000 plus attendees will need the professional apparel logistic company assistance to carry their orders from overseas to the U.S. in the most efficient and cost effective way. Pacific CMA was chosen for its apparel specific emphasis and service oriented object in mind. We have reviewed other freight forwarders and found that Pacific CMA most appropriately matches our company's business strategy...Think globally, act locally,'' said Yuan.
In response, Pacific CMA Chairman Alfred Lam said: ``We are deeply honored that we have been designated as the official freight forwarder for this ASAP Show. This strategic relationship will offer us many opportunities to meet current and potential garment clients. We hope to be an important part of the ASAP Global Sourcing Show, and we will do our best to service the tradeshow exhibitors and attendees to provide transportation to a rapidly growing global trading environment.''
Pacific CMA will be present at the show, staffed with senior executives from its Hong Kong office, as well as Los Angeles, San Francisco and New York offices. Attendees to the ASAP Show are asked to pre-register online at the following link: http://www.asapshow.com.
ABOUT PACIFIC CMA (http://www.pacificcma.com)
More information on the company is available online at http://www.barrowstreet.com and also at http://www.pacificcma.com.
ABOUT CYBER MERCHANTS EXCHANGE, INC. (http://www.C-Me.com)
C-Me is an international electronic trading and logistics company, creating efficiencies for retailers to source and finance international purchases. C-Me offers its patent pending Global Financial Platform allowing U.S. buyers to purchase overseas merchandise without the need of issuing a Letter of Credit. The ASAP Global Sourcing Show, a natural extension of C-Me, is held twice a year in Las Vegas, Nevada. ASAP's mission is to establish a premier venue for leading international textile and apparel full package factories to conduct business under one roof with global buyers. The Company presently has 25 offices located throughout the world.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Pacific CMA Inc.
Henrik Christensen
(212) 945-7117
ASAP Show
Laurie Boon
(626) 636-2530 x 134
--------------------------------------------------------------------------------
Source: Pacific CMA Inc.; Cyber Merchants Exchange
Press Release Source: OptimumCare Corporation; IPOdesktop.com
OptimumCare's President of Its Los Angeles-Based Associated Staffing Resources Division Interviewed on Internet Web Radio Program by IPOdesktop.com
Wednesday August 6, 9:00 am ET
LOS ANGELES, August 6, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed the company's president of its Associated Staffing Resources division, Meryl Stern, about the company's growth in this rapidly expanding part of the company's business strategies.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Stern. Listeners may hear the interview by accessing it through Windows Media at http://mmslb.eonstreams.com/gaskins/opmc-8-1.wma .
During the interview, Stern notes that healthcare is a rapidly growing segment of the staffing services marketplace, and that she has 30 years' experience in it, a number of which had been spent working with OptimumCare behavioral healthcare programs in Southern California.
She also reports that in her first year of running the company's combined staffing facilities in the Los Angeles area, that their revenues remained even with the prior year, while many competitors saw declines in their revenue base. Staffing resources are offered to acute care hospitals, day treatment, home health, school and foster family programs, she said. Her decision to join OptimumCare, Stern said, was that it ``offered me so much that I didn't feel I could do on my own...they have a good strong balance sheet and good managers.''
The company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably. It has already made three staffing acquisitions, two in the Los Angeles area, with an additional office that has recently opened in Northern California serving the market from San Jose north to Sacramento, and another in Orlando, Florida, which has just opened an office in Jacksonville, Florida as well. All deliver highly qualified nurses and social workers when clients find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear it at http://mmslb.eonstreams.com/gaskins/opmc.wma .
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com .
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, health-care reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation; IPOdesktop.com
Press Release Source: OptimumCare Corporation; IPOdesktop.com
OptimumCare's President of Its Los Angeles-Based Associated Staffing Resources Division Interviewed on Internet Web Radio Program by IPOdesktop.com
Wednesday August 6, 9:00 am ET
LOS ANGELES, August 6, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed the company's president of its Associated Staffing Resources division, Meryl Stern, about the company's growth in this rapidly expanding part of the company's business strategies.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Stern. Listeners may hear the interview by accessing it through Windows Media at http://mmslb.eonstreams.com/gaskins/opmc-8-1.wma .
During the interview, Stern notes that healthcare is a rapidly growing segment of the staffing services marketplace, and that she has 30 years' experience in it, a number of which had been spent working with OptimumCare behavioral healthcare programs in Southern California.
She also reports that in her first year of running the company's combined staffing facilities in the Los Angeles area, that their revenues remained even with the prior year, while many competitors saw declines in their revenue base. Staffing resources are offered to acute care hospitals, day treatment, home health, school and foster family programs, she said. Her decision to join OptimumCare, Stern said, was that it ``offered me so much that I didn't feel I could do on my own...they have a good strong balance sheet and good managers.''
The company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably. It has already made three staffing acquisitions, two in the Los Angeles area, with an additional office that has recently opened in Northern California serving the market from San Jose north to Sacramento, and another in Orlando, Florida, which has just opened an office in Jacksonville, Florida as well. All deliver highly qualified nurses and social workers when clients find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear it at http://mmslb.eonstreams.com/gaskins/opmc.wma .
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com .
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, health-care reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation; IPOdesktop.com
Press Release Source: OptimumCare Corporation; IPOdesktop.com
OptimumCare's President of Its Los Angeles-Based Associated Staffing Resources Division Interviewed on Internet Web Radio Program by IPOdesktop.com
Wednesday August 6, 9:00 am ET
LOS ANGELES, August 6, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed the company's president of its Associated Staffing Resources division, Meryl Stern, about the company's growth in this rapidly expanding part of the company's business strategies.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Stern. Listeners may hear the interview by accessing it through Windows Media at http://mmslb.eonstreams.com/gaskins/opmc-8-1.wma .
During the interview, Stern notes that healthcare is a rapidly growing segment of the staffing services marketplace, and that she has 30 years' experience in it, a number of which had been spent working with OptimumCare behavioral healthcare programs in Southern California.
She also reports that in her first year of running the company's combined staffing facilities in the Los Angeles area, that their revenues remained even with the prior year, while many competitors saw declines in their revenue base. Staffing resources are offered to acute care hospitals, day treatment, home health, school and foster family programs, she said. Her decision to join OptimumCare, Stern said, was that it ``offered me so much that I didn't feel I could do on my own...they have a good strong balance sheet and good managers.''
The company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably. It has already made three staffing acquisitions, two in the Los Angeles area, with an additional office that has recently opened in Northern California serving the market from San Jose north to Sacramento, and another in Orlando, Florida, which has just opened an office in Jacksonville, Florida as well. All deliver highly qualified nurses and social workers when clients find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear it at http://mmslb.eonstreams.com/gaskins/opmc.wma .
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com .
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, health-care reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation; IPOdesktop.com
Press Release Source: ICM Telecommunications Inc.
ICM Telecommunications Retains Market Advantages, Inc. as Its Investment Banking Firm to Identify Capital and Strategic Acquisitions
Tuesday August 5, 9:00 am ET
LAKE OSWEGO, Ore., Aug. 5, 2003 (PRIMEZONE) -- ICM Telecommunications, Inc. (Other OTC:ICMH.PK - News), a rapidly growing provider of prepaid pin-based products through its Point of Sales Activation (POSA) terminals, today announced that the company has retained Market Advantages, Inc. as its investment banking firm to identify capital resources to fuel future growth, as well as assist the company in its strategic efforts to grow both internally and through acquisitions.
Over the past month, the company has experienced rapid growth, hiring additional sales representatives to meet the growing needs of its grocery and convenience store clients in the Pacific Northwest, enhanced its product and service offerings, and accelerated its strategic geographic expansion by adding a highly seasoned sales and marketing team in Arizona to its growing network, six months ahead of its original projected schedule.
``To continue that momentum, we clearly need additional working capital, and the Market Advantages team is uniquely qualified to assist us in this rapidly expanding marketplace,'' ICM President & CEO Doug Hamby said. ``The company has already identified several potential funding sources, and coordinated one of our most promising e-commerce relationships.''
``We are especially pleased to be working with Doug Hamby and his management team,'' said Market Advantages President Jason Genet. ``Our experience in the e-commerce and merchant marketplace over the past several years uniquely qualifies us to help ICM.''
Genet cited the recent strategic alliance his firm forged with ICM and payQuake, a rapidly growing payment solutions provider, as an example of the firm's capabilities and ICM's strategic direction.
payQuake merchant accounts range from no-set-up or monthly fees to rates as low as 1.59%. The pricing model permits millions of users of PayPal (NasdaqNM:EBAY - News) to have a real traditional merchant account with all the same protection as a larger scale merchant account.
As the business grows, the merchant can migrate his or her account to more traditional pricing. When the joint agreement Market Advantages had arranged was announced, Tony Perre, CEO of payQuake, said, ``Our model is built on the empowerment of the merchant, and we can see that ICM Telecommunications and its unique platform does just that -- giving the power of choice to the merchant, who in turn can give that same power to its consumers.''
``Our whole business model is focused on giving the merchant and the consumer choices of how they want to spend or accept monetary devices,'' Hamby noted. ``payQuake furthers those choices.''
Hamby noted that industry analysts now believe that within two years, by 2005, the overall market for prepaid products will climb to as much as $4 to $5 billion. The CEO said that ICM believes that, with its current suite of prepaid products, and those now in development, that the company could conceivably capture as much as 1% of that market by that time, and grow aggressively thereafter with continuing new services being introduced to this dynamic marketplace.
Statements contained in this release, which are not historical facts, may be considered ``forward-looking statements'' under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.
Contact:
ICM Telecommunications, Inc.
Doug Hamby
(503) 534-3663
--------------------------------------------------------------------------------
Source: ICM Telecommunications Inc.
Press Release Source: ICM Telecommunications, Inc.
ICM Telecommunications Expands Product Offerings Into Arizona
Tuesday July 29, 10:05 am ET
Move to Enter This Promising Marketplace Launched Six Months Ahead of Schedule
LAKE OSWEGO, Ore.--(BUSINESS WIRE)--July 29, 2003--ICM Telecommunications, Inc. (Other OTC:ICMH - News), a rapidly growing provider of prepaid pin-based products through its Point of Sales Activation (POSA) terminals, today announced that the company has accelerated its strategic geographic expansion by adding J&S Consulting, a very seasoned telecom sales and marketing team in Arizona, six months ahead of its original projected schedule.
"This opening penetration of the Southwest marketplace was accelerated because we had the good fortune to form an alliance with this group, whom we have had the pleasure of working with earlier," said Doug Hamby, president & CEO of ICM Telecommunications. "We are still planning to enter the northern and southern California marketplaces within the next two months," Hamby continued, "but the opportunity to affiliate with the team in Phoenix was too compelling to delay our strategic plan."
Hamby noted that the company's ability to quickly seize upon such opportunities underscores not only its entrepreneurial approach but also its goal of becoming a key player in its evolving marketplace. Currently, the number of grocery and convenience stores now featuring ICM's Electronic Payment & Inventory System (EPIS) has grown to 85, primarily in the Seattle/Tacoma and metropolitan Portland, Oregon markets. In recent weeks the company has added eight additional sales representatives to these areas and sales have accelerated by more than 30% in response.
The company's EPIS hardware and software package enables the retailer to process a suite of services, all on the same terminal. Current products available for purchase include prepaid cellular telephone recharge, telephone calling cards, home dial tone, roadside assistance and discounted prescription drug cards. The EPIS system also offers merchant services such as VISA and MasterCard transactions.
The stake for all these products and services are substantial. Hamby noted that industry analysts now believe that within two years, by 2005, the overall market for prepaid products will climb to as much as $4 to $5 billion. The CEO said that ICM believes that, with its current suite of prepaid products, and those now in development, that the company could conceivably capture as much as 1% of that market by that time, and grow aggressively thereafter with continuing new services being introduced to this dynamic marketplace.
Demand has been especially strong for the company's telephone calling cards, which offer rates of 3.9 cents per minute domestically, and 7.4 cents per minute via the company's popular Pachanga card focused on the Mexican calling card market.
The roadside assistance card, which retails at $9.95, and is good for 30 days from issuance, features free towing to the nearest garage, refills of fluids such as water and gas, free lockout assistance and free fixing of flat tires. In addition, purchasers receive a calling card good for 225 minutes in the U.S. and 60 minutes to Mexico.
The prepaid prescription card, retailing at $9.95 and good for 60 days from issuance offers consumers a 30% discount on all prescription drugs and is honored at all major pharmacies such as Long's and Rite Aid.
Two weeks ago, the company introduced one of the cellular telephone industry's most well recognized, high quality, and high profile product offerings -- the Samsung Model 850 flip-top telephone, making it available to consumers who would otherwise not have access to such a product.
"Now, in addition to our customers enjoying multiple prepaid services, for the first time they have the opportunity to have access to a product that other providers demand high credit ratings and other hurdles to acquire, including multi-year contractual obligations," said Hamby. "With our new plan, everyone has the ability to own and use a cellular phone, without such restrictions, and at an incredibly modest starting price."
In this newest product offering, a customer enters a participating merchant store, to which ICM has sold the phone, purchasing it at a suggested retail price of $79.95, resulting in a 30% profit margin for ICM. The phone comes fully charged, with an assigned number, and 20 minutes of airtime. Additional time recharges are exclusive to ICM's POSA terminals, ensuring a continuing revenue stream.
"We knew this new product would be a big seller since, after initially introducing it to our merchant base, they immediately came back with substantial orders before we could even get these phones into the stores," Hamby continued.
Last week, the company signed a premier partnership agreement with payQuake, a rapidly growing payment solutions provider. payQuake earlier this year introduced a "dynamic merchant pricing" (DMP) model that gives merchants the ability to control the costs of their merchant account "upfront as well as each and every month." Merchants always have the ability to do what's best for their business by choosing an account from one of the three individual merchant accounts offered by payQuake. payQuake merchant accounts range from no-set-up or monthly fees to rates as low as 1.59%. A secure payment gateway account is also included when one signs up for a payQuake account.
The pricing model permits millions of users of PayPal (NASDAQ: eBay - News) to have a real traditional merchant account with all the same protection as a larger scale merchant account. As the business grows, the merchant can migrate his or her account to more traditional pricing. When the joint agreement was announced, Tony Perre, CEO of payQuake, said, "Our model is built on the empowerment of the merchant, and we can see that ICM Telecommunications and its unique platform does just that -- giving the power of choice to the merchant, who in turn can give that same power to its consumers."
"The merchant world is in for some radical changes," Perre noted, "and payQuake and ICM Telecommunications are both helping to enable merchants to benefit from those changes."
"As partners, we will get a percentage of the sales our merchants make under the payQuake account," said Hamby. "More importantly, we are opening ourselves up to future opportunities that will involve EPIS and payQuake.
"Our whole business model is focused on giving the merchant and the consumer choices of how they want to spend/accept monetary devices," Hamby continued, "and payQuake furthers those choices."
Hamby also noted "Unlike PayPal, payQuake offers both swiped and e-commerce solutions, so the fit is natural with our EPIS approach. We are going to look to further the strategic partnership between payQuake and ICM Telecommunications in the near future."
The CEO concluded by reiterating the company's belief that, with its current suite of prepaid products, and those now in development, that the company could conceivably capture as much as 1% of its marketplace by 2005, and grow aggressively thereafter with continuing new services being introduced to this dynamic market sector.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.
--------------------------------------------------------------------------------
Contact:
ICM Telecommunications, Inc.
Doug Hamby, 503/534-3663
--------------------------------------------------------------------------------
Source: ICM Telecommunications, Inc.
Press Release Source: ICM Telecommunications, Inc.
ICM Telecommunications Expands Product Offerings Into Arizona
Tuesday July 29, 10:05 am ET
Move to Enter This Promising Marketplace Launched Six Months Ahead of Schedule
LAKE OSWEGO, Ore.--(BUSINESS WIRE)--July 29, 2003--ICM Telecommunications, Inc. (Other OTC:ICMH - News), a rapidly growing provider of prepaid pin-based products through its Point of Sales Activation (POSA) terminals, today announced that the company has accelerated its strategic geographic expansion by adding J&S Consulting, a very seasoned telecom sales and marketing team in Arizona, six months ahead of its original projected schedule.
"This opening penetration of the Southwest marketplace was accelerated because we had the good fortune to form an alliance with this group, whom we have had the pleasure of working with earlier," said Doug Hamby, president & CEO of ICM Telecommunications. "We are still planning to enter the northern and southern California marketplaces within the next two months," Hamby continued, "but the opportunity to affiliate with the team in Phoenix was too compelling to delay our strategic plan."
Hamby noted that the company's ability to quickly seize upon such opportunities underscores not only its entrepreneurial approach but also its goal of becoming a key player in its evolving marketplace. Currently, the number of grocery and convenience stores now featuring ICM's Electronic Payment & Inventory System (EPIS) has grown to 85, primarily in the Seattle/Tacoma and metropolitan Portland, Oregon markets. In recent weeks the company has added eight additional sales representatives to these areas and sales have accelerated by more than 30% in response.
The company's EPIS hardware and software package enables the retailer to process a suite of services, all on the same terminal. Current products available for purchase include prepaid cellular telephone recharge, telephone calling cards, home dial tone, roadside assistance and discounted prescription drug cards. The EPIS system also offers merchant services such as VISA and MasterCard transactions.
The stake for all these products and services are substantial. Hamby noted that industry analysts now believe that within two years, by 2005, the overall market for prepaid products will climb to as much as $4 to $5 billion. The CEO said that ICM believes that, with its current suite of prepaid products, and those now in development, that the company could conceivably capture as much as 1% of that market by that time, and grow aggressively thereafter with continuing new services being introduced to this dynamic marketplace.
Demand has been especially strong for the company's telephone calling cards, which offer rates of 3.9 cents per minute domestically, and 7.4 cents per minute via the company's popular Pachanga card focused on the Mexican calling card market.
The roadside assistance card, which retails at $9.95, and is good for 30 days from issuance, features free towing to the nearest garage, refills of fluids such as water and gas, free lockout assistance and free fixing of flat tires. In addition, purchasers receive a calling card good for 225 minutes in the U.S. and 60 minutes to Mexico.
The prepaid prescription card, retailing at $9.95 and good for 60 days from issuance offers consumers a 30% discount on all prescription drugs and is honored at all major pharmacies such as Long's and Rite Aid.
Two weeks ago, the company introduced one of the cellular telephone industry's most well recognized, high quality, and high profile product offerings -- the Samsung Model 850 flip-top telephone, making it available to consumers who would otherwise not have access to such a product.
"Now, in addition to our customers enjoying multiple prepaid services, for the first time they have the opportunity to have access to a product that other providers demand high credit ratings and other hurdles to acquire, including multi-year contractual obligations," said Hamby. "With our new plan, everyone has the ability to own and use a cellular phone, without such restrictions, and at an incredibly modest starting price."
In this newest product offering, a customer enters a participating merchant store, to which ICM has sold the phone, purchasing it at a suggested retail price of $79.95, resulting in a 30% profit margin for ICM. The phone comes fully charged, with an assigned number, and 20 minutes of airtime. Additional time recharges are exclusive to ICM's POSA terminals, ensuring a continuing revenue stream.
"We knew this new product would be a big seller since, after initially introducing it to our merchant base, they immediately came back with substantial orders before we could even get these phones into the stores," Hamby continued.
Last week, the company signed a premier partnership agreement with payQuake, a rapidly growing payment solutions provider. payQuake earlier this year introduced a "dynamic merchant pricing" (DMP) model that gives merchants the ability to control the costs of their merchant account "upfront as well as each and every month." Merchants always have the ability to do what's best for their business by choosing an account from one of the three individual merchant accounts offered by payQuake. payQuake merchant accounts range from no-set-up or monthly fees to rates as low as 1.59%. A secure payment gateway account is also included when one signs up for a payQuake account.
The pricing model permits millions of users of PayPal (NASDAQ: eBay - News) to have a real traditional merchant account with all the same protection as a larger scale merchant account. As the business grows, the merchant can migrate his or her account to more traditional pricing. When the joint agreement was announced, Tony Perre, CEO of payQuake, said, "Our model is built on the empowerment of the merchant, and we can see that ICM Telecommunications and its unique platform does just that -- giving the power of choice to the merchant, who in turn can give that same power to its consumers."
"The merchant world is in for some radical changes," Perre noted, "and payQuake and ICM Telecommunications are both helping to enable merchants to benefit from those changes."
"As partners, we will get a percentage of the sales our merchants make under the payQuake account," said Hamby. "More importantly, we are opening ourselves up to future opportunities that will involve EPIS and payQuake.
"Our whole business model is focused on giving the merchant and the consumer choices of how they want to spend/accept monetary devices," Hamby continued, "and payQuake furthers those choices."
Hamby also noted "Unlike PayPal, payQuake offers both swiped and e-commerce solutions, so the fit is natural with our EPIS approach. We are going to look to further the strategic partnership between payQuake and ICM Telecommunications in the near future."
The CEO concluded by reiterating the company's belief that, with its current suite of prepaid products, and those now in development, that the company could conceivably capture as much as 1% of its marketplace by 2005, and grow aggressively thereafter with continuing new services being introduced to this dynamic market sector.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.
--------------------------------------------------------------------------------
Contact:
ICM Telecommunications, Inc.
Doug Hamby, 503/534-3663
--------------------------------------------------------------------------------
Source: ICM Telecommunications, Inc.
Press Release Source: ICM Telecommunications, Inc.
ICM Telecommunications Expands Product Offerings Into Arizona
Tuesday July 29, 10:05 am ET
Move to Enter This Promising Marketplace Launched Six Months Ahead of Schedule
LAKE OSWEGO, Ore.--(BUSINESS WIRE)--July 29, 2003--ICM Telecommunications, Inc. (Other OTC:ICMH - News), a rapidly growing provider of prepaid pin-based products through its Point of Sales Activation (POSA) terminals, today announced that the company has accelerated its strategic geographic expansion by adding J&S Consulting, a very seasoned telecom sales and marketing team in Arizona, six months ahead of its original projected schedule.
"This opening penetration of the Southwest marketplace was accelerated because we had the good fortune to form an alliance with this group, whom we have had the pleasure of working with earlier," said Doug Hamby, president & CEO of ICM Telecommunications. "We are still planning to enter the northern and southern California marketplaces within the next two months," Hamby continued, "but the opportunity to affiliate with the team in Phoenix was too compelling to delay our strategic plan."
Hamby noted that the company's ability to quickly seize upon such opportunities underscores not only its entrepreneurial approach but also its goal of becoming a key player in its evolving marketplace. Currently, the number of grocery and convenience stores now featuring ICM's Electronic Payment & Inventory System (EPIS) has grown to 85, primarily in the Seattle/Tacoma and metropolitan Portland, Oregon markets. In recent weeks the company has added eight additional sales representatives to these areas and sales have accelerated by more than 30% in response.
The company's EPIS hardware and software package enables the retailer to process a suite of services, all on the same terminal. Current products available for purchase include prepaid cellular telephone recharge, telephone calling cards, home dial tone, roadside assistance and discounted prescription drug cards. The EPIS system also offers merchant services such as VISA and MasterCard transactions.
The stake for all these products and services are substantial. Hamby noted that industry analysts now believe that within two years, by 2005, the overall market for prepaid products will climb to as much as $4 to $5 billion. The CEO said that ICM believes that, with its current suite of prepaid products, and those now in development, that the company could conceivably capture as much as 1% of that market by that time, and grow aggressively thereafter with continuing new services being introduced to this dynamic marketplace.
Demand has been especially strong for the company's telephone calling cards, which offer rates of 3.9 cents per minute domestically, and 7.4 cents per minute via the company's popular Pachanga card focused on the Mexican calling card market.
The roadside assistance card, which retails at $9.95, and is good for 30 days from issuance, features free towing to the nearest garage, refills of fluids such as water and gas, free lockout assistance and free fixing of flat tires. In addition, purchasers receive a calling card good for 225 minutes in the U.S. and 60 minutes to Mexico.
The prepaid prescription card, retailing at $9.95 and good for 60 days from issuance offers consumers a 30% discount on all prescription drugs and is honored at all major pharmacies such as Long's and Rite Aid.
Two weeks ago, the company introduced one of the cellular telephone industry's most well recognized, high quality, and high profile product offerings -- the Samsung Model 850 flip-top telephone, making it available to consumers who would otherwise not have access to such a product.
"Now, in addition to our customers enjoying multiple prepaid services, for the first time they have the opportunity to have access to a product that other providers demand high credit ratings and other hurdles to acquire, including multi-year contractual obligations," said Hamby. "With our new plan, everyone has the ability to own and use a cellular phone, without such restrictions, and at an incredibly modest starting price."
In this newest product offering, a customer enters a participating merchant store, to which ICM has sold the phone, purchasing it at a suggested retail price of $79.95, resulting in a 30% profit margin for ICM. The phone comes fully charged, with an assigned number, and 20 minutes of airtime. Additional time recharges are exclusive to ICM's POSA terminals, ensuring a continuing revenue stream.
"We knew this new product would be a big seller since, after initially introducing it to our merchant base, they immediately came back with substantial orders before we could even get these phones into the stores," Hamby continued.
Last week, the company signed a premier partnership agreement with payQuake, a rapidly growing payment solutions provider. payQuake earlier this year introduced a "dynamic merchant pricing" (DMP) model that gives merchants the ability to control the costs of their merchant account "upfront as well as each and every month." Merchants always have the ability to do what's best for their business by choosing an account from one of the three individual merchant accounts offered by payQuake. payQuake merchant accounts range from no-set-up or monthly fees to rates as low as 1.59%. A secure payment gateway account is also included when one signs up for a payQuake account.
The pricing model permits millions of users of PayPal (NASDAQ: eBay - News) to have a real traditional merchant account with all the same protection as a larger scale merchant account. As the business grows, the merchant can migrate his or her account to more traditional pricing. When the joint agreement was announced, Tony Perre, CEO of payQuake, said, "Our model is built on the empowerment of the merchant, and we can see that ICM Telecommunications and its unique platform does just that -- giving the power of choice to the merchant, who in turn can give that same power to its consumers."
"The merchant world is in for some radical changes," Perre noted, "and payQuake and ICM Telecommunications are both helping to enable merchants to benefit from those changes."
"As partners, we will get a percentage of the sales our merchants make under the payQuake account," said Hamby. "More importantly, we are opening ourselves up to future opportunities that will involve EPIS and payQuake.
"Our whole business model is focused on giving the merchant and the consumer choices of how they want to spend/accept monetary devices," Hamby continued, "and payQuake furthers those choices."
Hamby also noted "Unlike PayPal, payQuake offers both swiped and e-commerce solutions, so the fit is natural with our EPIS approach. We are going to look to further the strategic partnership between payQuake and ICM Telecommunications in the near future."
The CEO concluded by reiterating the company's belief that, with its current suite of prepaid products, and those now in development, that the company could conceivably capture as much as 1% of its marketplace by 2005, and grow aggressively thereafter with continuing new services being introduced to this dynamic market sector.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.
--------------------------------------------------------------------------------
Contact:
ICM Telecommunications, Inc.
Doug Hamby, 503/534-3663
--------------------------------------------------------------------------------
Source: ICM Telecommunications, Inc.
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication Management Team Brings Many Years of Executive Experience to the Newly Named Company
Tuesday July 29, 11:06 am ET
HONG KONG, July 29 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), which recently changed its corporate name and trading symbol to more accurately reflect its business focus, today announced that it has put in place a new management team whose years of collective experience will help take the company to its next level of development.
Through Solar Touch, its British Virgin Island incorporated subsidiary, China Cable and Communication is the first and the only foreign investor approved by China's national authority for the broadcasting industry, the State Administration for Radio, Film and Television, to own interest in, and provide operational management support to, existing cable television networks in the People's Republic of China.
Unlike prior Sino-Foreign cable joint ventures that provide complementary broadband or Internet services to television stations, CCCI owns a 49% interest in, and has three of seven seats on the Board of Directors of, Baoding Pascali Cable Television, a major backbone cable TV network in China's Hebei Province. It currently offers 39 channels within Baoding, and eight channels to the Greater Baoding metropolitan area. By year's end, it anticipates offering other value added services such as broadband Internet access, virtual private network and bulk data transmission services.
Heading the company's Board of Directors is Gareth Tang, who also serves as Chief Financial Officer. Raymond Kwan, also a Board member, serves as the company's Chief Executive Officer.
Tang has more than 17 years of experience in accounting, corporate finance and management of various U.S., Australian and Hong Kong listed companies. A fellow member of both the Hong Kong Society of Accountants and the Association of Chartered Certified Accountants (UK), Tang also holds a Bachelor Degree in Social Sciences with a major in management studies from the University of Hong Kong.
Kwan has more than 16 years of experience in strategic planning, product marketing and management. A summa cum laude graduate with degrees in accounting and mathematics from Regis University in Denver, Colorado.
Fellow China Cable and Communication members of its Board of Directors include Jun-Tang Zhao and George Raney.
Zhao has more than 10 years of experience in finance, management, working with corporate and international banking businesses in the People's Republic of China (PRC). He is a certified public accountant in the PRC, and graduated from the Central Television University there, majoring in financial accounting.
Los Angeles-based George Raney has more than 15 years experience in corporate finance and corporate development, primarily in the United States. He received his B.A. in Economics from The Ohio State University, and his M.B.A. in Finance and International Business from the University of Michigan. Earlier, at Millennium Capital Partners, he specialized in securing private placements and sourcing strategic U.S. acquisitions for Chinese clients.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.
--------------------------------------------------------------------------------
Source: China Cable and Communication, Inc.
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication Management Team Brings Many Years of Executive Experience to the Newly Named Company
Tuesday July 29, 11:06 am ET
HONG KONG, July 29 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), which recently changed its corporate name and trading symbol to more accurately reflect its business focus, today announced that it has put in place a new management team whose years of collective experience will help take the company to its next level of development.
Through Solar Touch, its British Virgin Island incorporated subsidiary, China Cable and Communication is the first and the only foreign investor approved by China's national authority for the broadcasting industry, the State Administration for Radio, Film and Television, to own interest in, and provide operational management support to, existing cable television networks in the People's Republic of China.
Unlike prior Sino-Foreign cable joint ventures that provide complementary broadband or Internet services to television stations, CCCI owns a 49% interest in, and has three of seven seats on the Board of Directors of, Baoding Pascali Cable Television, a major backbone cable TV network in China's Hebei Province. It currently offers 39 channels within Baoding, and eight channels to the Greater Baoding metropolitan area. By year's end, it anticipates offering other value added services such as broadband Internet access, virtual private network and bulk data transmission services.
Heading the company's Board of Directors is Gareth Tang, who also serves as Chief Financial Officer. Raymond Kwan, also a Board member, serves as the company's Chief Executive Officer.
Tang has more than 17 years of experience in accounting, corporate finance and management of various U.S., Australian and Hong Kong listed companies. A fellow member of both the Hong Kong Society of Accountants and the Association of Chartered Certified Accountants (UK), Tang also holds a Bachelor Degree in Social Sciences with a major in management studies from the University of Hong Kong.
Kwan has more than 16 years of experience in strategic planning, product marketing and management. A summa cum laude graduate with degrees in accounting and mathematics from Regis University in Denver, Colorado.
Fellow China Cable and Communication members of its Board of Directors include Jun-Tang Zhao and George Raney.
Zhao has more than 10 years of experience in finance, management, working with corporate and international banking businesses in the People's Republic of China (PRC). He is a certified public accountant in the PRC, and graduated from the Central Television University there, majoring in financial accounting.
Los Angeles-based George Raney has more than 15 years experience in corporate finance and corporate development, primarily in the United States. He received his B.A. in Economics from The Ohio State University, and his M.B.A. in Finance and International Business from the University of Michigan. Earlier, at Millennium Capital Partners, he specialized in securing private placements and sourcing strategic U.S. acquisitions for Chinese clients.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.
--------------------------------------------------------------------------------
Source: China Cable and Communication, Inc.
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication Management Team Brings Many Years of Executive Experience to the Newly Named Company
Tuesday July 29, 11:06 am ET
HONG KONG, July 29 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), which recently changed its corporate name and trading symbol to more accurately reflect its business focus, today announced that it has put in place a new management team whose years of collective experience will help take the company to its next level of development.
Through Solar Touch, its British Virgin Island incorporated subsidiary, China Cable and Communication is the first and the only foreign investor approved by China's national authority for the broadcasting industry, the State Administration for Radio, Film and Television, to own interest in, and provide operational management support to, existing cable television networks in the People's Republic of China.
Unlike prior Sino-Foreign cable joint ventures that provide complementary broadband or Internet services to television stations, CCCI owns a 49% interest in, and has three of seven seats on the Board of Directors of, Baoding Pascali Cable Television, a major backbone cable TV network in China's Hebei Province. It currently offers 39 channels within Baoding, and eight channels to the Greater Baoding metropolitan area. By year's end, it anticipates offering other value added services such as broadband Internet access, virtual private network and bulk data transmission services.
Heading the company's Board of Directors is Gareth Tang, who also serves as Chief Financial Officer. Raymond Kwan, also a Board member, serves as the company's Chief Executive Officer.
Tang has more than 17 years of experience in accounting, corporate finance and management of various U.S., Australian and Hong Kong listed companies. A fellow member of both the Hong Kong Society of Accountants and the Association of Chartered Certified Accountants (UK), Tang also holds a Bachelor Degree in Social Sciences with a major in management studies from the University of Hong Kong.
Kwan has more than 16 years of experience in strategic planning, product marketing and management. A summa cum laude graduate with degrees in accounting and mathematics from Regis University in Denver, Colorado.
Fellow China Cable and Communication members of its Board of Directors include Jun-Tang Zhao and George Raney.
Zhao has more than 10 years of experience in finance, management, working with corporate and international banking businesses in the People's Republic of China (PRC). He is a certified public accountant in the PRC, and graduated from the Central Television University there, majoring in financial accounting.
Los Angeles-based George Raney has more than 15 years experience in corporate finance and corporate development, primarily in the United States. He received his B.A. in Economics from The Ohio State University, and his M.B.A. in Finance and International Business from the University of Michigan. Earlier, at Millennium Capital Partners, he specialized in securing private placements and sourcing strategic U.S. acquisitions for Chinese clients.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.
--------------------------------------------------------------------------------
Source: China Cable and Communication, Inc.
Press Release Source: Next, Inc.
Next Inc. Forges Ahead with Shareholders Lock-up Agreements
Tuesday July 22, 5:01 pm ET
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--July 22, 2003--Next Inc. (OTCBB:NXTI - News) announces that its significant stockholders (representing approximately 63% of total shares of common stock outstanding as of July 22, 2003) have entered into lock-up agreements with each other and the Company restricting their ability to sell or transfer their shares of common stock. The lock-up agreements provide that the shares owned by these stockholders are subject to a lock-up through May 1, 2004 with four automatic six-month extensions through May 1, 2006. The lock-up agreements may be terminated or amended by a vote of the majority shares subject to the lock up, with thirty days' notice, no earlier than May 1, 2004 and every six months thereafter.
Mr. Dan Cooke, Chairman of the Board and CEO, stated, "The lock-up agreements are the latest in a series of planned strategic moves that continues to demonstrate that the Company's management shareholders are committed to long-range plans to build shareholder value."
About NEXT INC:
NEXT is a creative and innovative sales and marketing organization that designs, develops, markets, and distributes licensed and branded promotional products and imprinted sportswear primarily through key licensing agreements and the Company's own proprietary designs. Next products are: www.collegewearusa.com(TM); www.rpmsportsusa.com(TM); www.americanbiker.net(TM).
NEXT has 12.7 million outstanding common shares and trades under the symbol NXTI.
The information provided for in this Press Release contains forward-looking statements and information with respect to plans, projections or future performance of the Company, the occurrence of which involves risks and uncertainties that could cause the Company's actual results to differ materially from expected results and other risks detailed in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date the statements were made. The Company's actual results could differ significantly from those discussed or implied herein.
--------------------------------------------------------------------------------
Contact:
Next, Inc., Chattanooga
John D Gioioso, 423-296-8213 Ext. 5
jdg@nxt-inc.com
--------------------------------------------------------------------------------
Source: Next, Inc.
Press Release Source: Next, Inc.
Next Inc. Forges Ahead with Shareholders Lock-up Agreements
Tuesday July 22, 5:01 pm ET
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--July 22, 2003--Next Inc. (OTCBB:NXTI - News) announces that its significant stockholders (representing approximately 63% of total shares of common stock outstanding as of July 22, 2003) have entered into lock-up agreements with each other and the Company restricting their ability to sell or transfer their shares of common stock. The lock-up agreements provide that the shares owned by these stockholders are subject to a lock-up through May 1, 2004 with four automatic six-month extensions through May 1, 2006. The lock-up agreements may be terminated or amended by a vote of the majority shares subject to the lock up, with thirty days' notice, no earlier than May 1, 2004 and every six months thereafter.
Mr. Dan Cooke, Chairman of the Board and CEO, stated, "The lock-up agreements are the latest in a series of planned strategic moves that continues to demonstrate that the Company's management shareholders are committed to long-range plans to build shareholder value."
About NEXT INC:
NEXT is a creative and innovative sales and marketing organization that designs, develops, markets, and distributes licensed and branded promotional products and imprinted sportswear primarily through key licensing agreements and the Company's own proprietary designs. Next products are: www.collegewearusa.com(TM); www.rpmsportsusa.com(TM); www.americanbiker.net(TM).
NEXT has 12.7 million outstanding common shares and trades under the symbol NXTI.
The information provided for in this Press Release contains forward-looking statements and information with respect to plans, projections or future performance of the Company, the occurrence of which involves risks and uncertainties that could cause the Company's actual results to differ materially from expected results and other risks detailed in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date the statements were made. The Company's actual results could differ significantly from those discussed or implied herein.
--------------------------------------------------------------------------------
Contact:
Next, Inc., Chattanooga
John D Gioioso, 423-296-8213 Ext. 5
jdg@nxt-inc.com
--------------------------------------------------------------------------------
Source: Next, Inc.
Press Release Source: Next, Inc.
Next Inc. Forges Ahead with Shareholders Lock-up Agreements
Tuesday July 22, 5:01 pm ET
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--July 22, 2003--Next Inc. (OTCBB:NXTI - News) announces that its significant stockholders (representing approximately 63% of total shares of common stock outstanding as of July 22, 2003) have entered into lock-up agreements with each other and the Company restricting their ability to sell or transfer their shares of common stock. The lock-up agreements provide that the shares owned by these stockholders are subject to a lock-up through May 1, 2004 with four automatic six-month extensions through May 1, 2006. The lock-up agreements may be terminated or amended by a vote of the majority shares subject to the lock up, with thirty days' notice, no earlier than May 1, 2004 and every six months thereafter.
Mr. Dan Cooke, Chairman of the Board and CEO, stated, "The lock-up agreements are the latest in a series of planned strategic moves that continues to demonstrate that the Company's management shareholders are committed to long-range plans to build shareholder value."
About NEXT INC:
NEXT is a creative and innovative sales and marketing organization that designs, develops, markets, and distributes licensed and branded promotional products and imprinted sportswear primarily through key licensing agreements and the Company's own proprietary designs. Next products are: www.collegewearusa.com(TM); www.rpmsportsusa.com(TM); www.americanbiker.net(TM).
NEXT has 12.7 million outstanding common shares and trades under the symbol NXTI.
The information provided for in this Press Release contains forward-looking statements and information with respect to plans, projections or future performance of the Company, the occurrence of which involves risks and uncertainties that could cause the Company's actual results to differ materially from expected results and other risks detailed in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date the statements were made. The Company's actual results could differ significantly from those discussed or implied herein.
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Contact:
Next, Inc., Chattanooga
John D Gioioso, 423-296-8213 Ext. 5
jdg@nxt-inc.com
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Source: Next, Inc.
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication, Citing Improved Operating Outlook, Investor Interest, Says It Will Postpone Reverse Stock Split Indefinitely
Tuesday July 22, 9:02 am ET
HONG KONG, July 22 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), which earlier had announced that it planned to effect a 10-for-1 reverse stock split on or around July 15, 2003, today announced that an improved operating outlook has prompted its Board of Directors to postpone such a reverse split indefinitely.
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"The initial goal of the reverse split was to qualify CCCI to be a NASDAQ listed company," said CEO Ray Kwan. "However, due to the strong interest investors have shown in the company, its business outlook, and management's emphasis on shareholder value, we determined that such a stock split should be reconsidered at a later time, or be cancelled entirely if the company can qualify for a higher listing based on its own fundamental merits."
"After careful consideration, the Board felt that such an action, at the present time, would not significantly contribute to our planned growth," said the CEO.
"We are in the process of executing our business plan, growing the company, and increasing shareholder value both through organic growth and potential acquisitions. If and when the time seems right, we might still consider a reverse split at some point in the future," Kwan added. "But for now, we are focusing all our energies on growing our core business."
CCCI currently has a 49% ownership in a cable TV transmission company with more than 200,000 subscribers in a market with a population of more than 10 million. The company currently offers 39 channels within the Baoding city limits and eight additional channels to outer areas in the Baoding metropolitan area. It transmits in both analog and digital over its fiber optic network and through 22 substations. In addition to its cable television transmission services, the joint venture also offers Internet access, and anticipates that it will be able to offer value added services such as broadband Internet access, virtual private network and bulk data transmission services by the end of 2003.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the annual report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the quarterly reports and current reports on Form 8-K by the company.
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Source: China Cable and Communication, Inc.
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication, Citing Improved Operating Outlook, Investor Interest, Says It Will Postpone Reverse Stock Split Indefinitely
Tuesday July 22, 9:02 am ET
HONG KONG, July 22 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), which earlier had announced that it planned to effect a 10-for-1 reverse stock split on or around July 15, 2003, today announced that an improved operating outlook has prompted its Board of Directors to postpone such a reverse split indefinitely.
"The initial goal of the reverse split was to qualify CCCI to be a NASDAQ listed company," said CEO Ray Kwan. "However, due to the strong interest investors have shown in the company, its business outlook, and management's emphasis on shareholder value, we determined that such a stock split should be reconsidered at a later time, or be cancelled entirely if the company can qualify for a higher listing based on its own fundamental merits."
"After careful consideration, the Board felt that such an action, at the present time, would not significantly contribute to our planned growth," said the CEO.
"We are in the process of executing our business plan, growing the company, and increasing shareholder value both through organic growth and potential acquisitions. If and when the time seems right, we might still consider a reverse split at some point in the future," Kwan added. "But for now, we are focusing all our energies on growing our core business."
CCCI currently has a 49% ownership in a cable TV transmission company with more than 200,000 subscribers in a market with a population of more than 10 million. The company currently offers 39 channels within the Baoding city limits and eight additional channels to outer areas in the Baoding metropolitan area. It transmits in both analog and digital over its fiber optic network and through 22 substations. In addition to its cable television transmission services, the joint venture also offers Internet access, and anticipates that it will be able to offer value added services such as broadband Internet access, virtual private network and bulk data transmission services by the end of 2003.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the annual report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the quarterly reports and current reports on Form 8-K by the company.
--------------------------------------------------------------------------------
Source: China Cable and Communication, Inc.
Press Release Source: China Cable and Communication, Inc.
China Cable and Communication, Citing Improved Operating Outlook, Investor Interest, Says It Will Postpone Reverse Stock Split Indefinitely
Tuesday July 22, 9:02 am ET
HONG KONG, July 22 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), which earlier had announced that it planned to effect a 10-for-1 reverse stock split on or around July 15, 2003, today announced that an improved operating outlook has prompted its Board of Directors to postpone such a reverse split indefinitely.
"The initial goal of the reverse split was to qualify CCCI to be a NASDAQ listed company," said CEO Ray Kwan. "However, due to the strong interest investors have shown in the company, its business outlook, and management's emphasis on shareholder value, we determined that such a stock split should be reconsidered at a later time, or be cancelled entirely if the company can qualify for a higher listing based on its own fundamental merits."
"After careful consideration, the Board felt that such an action, at the present time, would not significantly contribute to our planned growth," said the CEO.
"We are in the process of executing our business plan, growing the company, and increasing shareholder value both through organic growth and potential acquisitions. If and when the time seems right, we might still consider a reverse split at some point in the future," Kwan added. "But for now, we are focusing all our energies on growing our core business."
CCCI currently has a 49% ownership in a cable TV transmission company with more than 200,000 subscribers in a market with a population of more than 10 million. The company currently offers 39 channels within the Baoding city limits and eight additional channels to outer areas in the Baoding metropolitan area. It transmits in both analog and digital over its fiber optic network and through 22 substations. In addition to its cable television transmission services, the joint venture also offers Internet access, and anticipates that it will be able to offer value added services such as broadband Internet access, virtual private network and bulk data transmission services by the end of 2003.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the annual report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the quarterly reports and current reports on Form 8-K by the company.
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Source: China Cable and Communication, Inc.