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This company has some serious up side. Nice news and a growing business.
BankAtlantic Announces New and Improved Web-based Mobile Banking
Sep 6, 2011 10:18:00 AM
Copyright Business Wire 2011
-The Latest Functionality in Web Based Mobile Banking-
FORT LAUDERDALE, Fls.--(BUSINESS WIRE)-- BankAtlantic, Florida’s Most Convenient Bank, announced today the conversion to a new web-based Mobile Banking platform powered by Intuit Financial Services.
BankAtlantic’s new and improved service is specifically designed for the most common mobile phone devices. From basic flip phones to the most advanced smart phones, our new service allows all BankAtlantic Retail Online Banking customers that have web-enabled mobile phone devices to access their personal financial information on the go from the palm of their hand.
“Mobile Banking is the new ‘norm’ that customers now expect of their financial institution. We are delighted to offer a seamless suite of convenient choices to bank from whether you are using our new Mobile Web platform, Text Message Banking** or using either of our Mobile apps for the iPhone®, iPad®, iPod Touch® or Android phones*,” commented Lloyd DeVaux, BankAtlantic’s Chief Operating Officer. “The new, improved web-based Mobile Banking platform cements BankAtlantic’s commitment to our customers in bringing innovative solutions for managing their money.”
The new service allows customers to securely view the most common and frequently needed Online Banking services including account balances, transaction histories, making transfers and scheduling bill payments. Furthermore customers may locate their nearest BankAtlantic location and find bank contact information while on the go.
“Mobile technology is fast moving with millions of people now using their mobile devices on a daily basis and we are delighted to offer our customers the opportunity to bank on their own terms,” commented Jarett Levan, BankAtlantic’s CEO. “From the latest in cutting edge technology to the traditional services of your local ‘brick and mortar’ branch, it’s all at BankAtlantic - Florida’s super community bank.”
For further information about all convenient Mobile solutions, please visit https://www.BankAtlantic.com/Mobile
*BankAtlantic’s new Mobile Banking Application for the iPhone®, iPad® and iPod Touch® and Android phones are provided to its customers free of charge. However, network charges may vary depending on provider. If you aren't sure what fees may apply, please consult with your network provider before enrolling in the service.
** BankAtlantic’s new Text Message Banking service is provided to its customers free of charge. However, standard carrier fees for text messaging, including message and data rates, from your communications service provider will apply. If you aren't sure what fees apply when you send and receive text messages, please consult with your mobile phone carrier and/or communications service provider before enrolling in the service.
Deposits are subject to verification and may not be available for immediate withdrawal. Transactions may not appear in the order in which they will be posted at the end of each business day. Terms and conditions apply.
About Intuit Financial Services: Intuit Financial Services helps banks and credit unions grow by making it easier for consumers and businesses to manage their money. As a division of Intuit Inc., Intuit Financial Services’ portfolio of on-demand solutions and services are built on insights gained over three decades working with customers and creating innovative offerings that anticipate their needs.
Intuit and the Intuit logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.
About BankAtlantic:
BankAtlantic, Florida’s Most Convenient Bank, is one of the largest financial institutions headquartered in Florida. Via its broad network of community branches and conveniently located ATMs, BankAtlantic provides a full line of personal, small business and commercial banking products and services. BankAtlantic is open 7 days a week and offers extended weekday hours, Online Banking & Bill Pay, a 7-Day Customer Service Center, Change Exchange coin counters, as well as retail and business checking accounts. Member FDIC.
Banking just got a whole lot easier! For further information, please visit us at www.BankAtlantic.com or a BankAtlantic branch nearest you.
BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the parent company of BankAtlantic. For further information, please visit: www.BankAtlanticBancorp.com
Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve substantial risks and uncertainties. Actual results could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Further, BankAtlantic’s new Text Message Banking service is provided to its customers free of charge, however standard carrier fees for text messaging and/or message and data rates from your communications service provider will apply. Potential customers of this service are cautioned to consult with their mobile phone carrier and/or their communications service provider relating to text messaging fees before enrolling in the service. Deposits are subject to verification and may not be available for immediate withdrawal. Transactions may not appear in the order in which they will be posted at the end of each business day. Terms and conditions apply. BankAtlantic cautions that the foregoing factors are not exclusive.
BankAtlantic
Media Contact:
Boardroom Communications
Caren Berg, 954-370-8999
cberg@boardroompr.com
or
BankAtlantic Bancorp, Inc.
Leo Hinkley, 954- 940-5300
Investor and Corporate Communications Officer
InvestorRelations@BankAtlanticBancorp.com
or
Sharon Lyn, 954-940-6383
Investor and Corporate Communications
CorpComm@BankAtlanticBancorp.com
Source: BankAtlantic
----------------------------------------------
BankAtlantic
Media Contact:
Boardroom Communications
Caren Berg 954-370-8999
cberg@boardroompr.com
or
BankAtlantic Bancorp Inc.
Leo Hinkley 954- 940-5300
Investor and Corporate Communications Officer
InvestorRelations@BankAtlanticBancorp.com
or
Sharon Lyn 954-940-6383
Investor and Corporate Communications
Let the Trend be your friend. America West Resources OTCBB: AWSR
Let the Trend be your friend. America West Resources OTCBB: AWSR
America West Resources Announces Record Revenue for Second Quarter 2011
Company Produces Nearly 200,000 Tons of Thermal Coal From Horizon Mine in First Half of 2011
SALT LAKE CITY, Aug. 23, 2011 (GLOBE NEWSWIRE) -- America West Resources, Inc. (OTCBB:AWSR.OB - News), a domestic compliant coal producer with mining operations in Central Utah, today announced its financial and operational results for the three and six month reporting periods ended June 30, 2011.
Financial Highlights for the Three Months Ended June 30, 2011 Compared to the Three Months Ended June 30, 2010:
Total revenues rose approximately 16% to $4,008,255 from $3,384,061 and represented a record revenue quarter for the Company and the third consecutive quarter of double-digit revenue growth.
Record coal production was also achieved in the second quarter, rising to 102,000 tons, up from 95,000 tons of coal produced in the first quarter of 2011 and 64,000 tons produced in the fourth quarter of 2010.
Net loss declined 12.5% to $3,882,476, or $0.09 loss per basic and diluted share, from $4,371,147, or $0.18 loss per basic and diluted share. The approximate $3.7 million in net loss for the quarter included approximately $2.2 million in one-time and non-cash charges.
Financial Highlights for the Six Months Ended June 30, 2011 Compared to the Six Months Ended June 30, 2010:
Revenues totaled $7,494,199, climbing 67% from $4,484,982.
Loss from operations decreased 19% to $3,479,727 from $4,289,393.
After factoring approximately $7.9 million in one-time and non-cash charges, net loss increased 10% to $10,352,050, or $0.26 loss per basic and diluted share, from $9,337,205, or $0.41 loss per basic and diluted share.
The Company's balance sheet reflects total assets of $30.08 million as of June 30, 2011, up from $23.48 million at December 31, 2010, while total liabilities were $30.35 million and $32.58 million, respectively. During the first six months of 2011, the Company raised $4.50 million through a private placement of its common stock. Subsequent to the end of the quarter, America West converted a total of $11.27 million of debt and accrued interest into approximately 11.27 million shares of its common stock at a $1.00 per share. In addition, the Company raised an additional $2.00 million in gross proceeds through the private placement of common stock priced at $1.00 per share.
Dan Baker, Chief Executive Officer of America West Resources, noted, "The first half of 2011 has been defined by steady, positive progress on a number of key fronts. After three challenging years, we announced in the last week of May that we transitioned Horizon from its concentration on mine development to a focus on production with two continuous miners now in operation. As a result, our underground mining teams are now working to achieve a monthly production rate approximating 60,000 tons per month, or approximately 2,000 tons per day. With the delivery and deployment of two new shuttle cars in July, our production ramp-up has since been accelerating; fueling confidence that our third quarter financial performance will mark yet another record quarter for America West."
For more detailed information relating to the Company's second quarter 2011 results, please refer to the financial statements included with this press release and the 10-Q that was filed with the U.S. Securities and Exchange Commission on August 17, 2011.
America West Resources, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, 2011 December 31, 2010
Assets
Current assets:
Cash and cash equivalents $ 1,573 $ 65,003
Restricted cash 4,010 4,010
Accounts receivable 676,123 466,871
Inventory 10,156 136,037
Deferred financing costs 702,703 543,291
Prepaid expenses 296,514 115,115
Total current assets 1,691,079 1,330,327
Deposits 926,839 804,148
Property and equipment:
Property and equipment 13,938,035 11,150,980
Land and mineral properties 23,947,926 19,627,847
Less: accumulated depreciation and depletion (10,418,965) (9,439,156)
Net property and equipment 27,466,996 21,339,671
Total assets $ 30,084,914 $ 23,474,146
Liabilities and Stockholders' Deficit
Current liabilities:
Bank overdraft $ 238,697 $ 180,733
Accounts payable 4,164,918 3,077,428
Accounts payable -- related party 483,886 521,506
Accrued expenses 3,791,190 4,567,572
Deferred revenue 500,000 500,000
Short-term debt -- related party, net of unamortized discounts of $2,368 and
$58,897 53,738 3,120,599
Current maturities of long-term debt, net of unamortized discount of
$1,028,605 and $2,197,251 9,604,600 17,772,358
Current maturities of convertible debt-related party net of unamortized
discount of $40,723 and $0 107,506 --
Current maturities of convertible debt net of unamortized discount of
$946,095 and $0 3,003,384 --
Capital lease obligation 90,814 --
Derivative liabilities 814,959 1,594,370
Total current liabilities 22,853,692 31,334,566
Long-term debt, net of unamortized discount of $15,963 and $0 553,640 1,114,450
Convertible debt-related party net of unamortized discount of $176,158 and $0 465,040 --
Convertible debt net of unamortized discount of $2,402,362 and $0 6,341,998 --
Asset retirement obligation 134,969 134,969
Total liabilities 30,349,339 32,583,985
Stockholders' deficit:
Preferred stock, $0.0001 par value; 2,500,000 shares authorized;
none issued and outstanding -- --
Common stock, $0.0001 par value; 300,000,000 shares authorized;
44,930,674 and 33,459,440 shares issued and outstanding,
respectively 4,492 3,346
Additional paid-in capital 49,190,374 29,994,056
Accumulated deficit (49,459,291) (39,107,241)
Total stockholders' deficit (264,425) (9,109,839)
Total liabilities and stockholders' deficit $ 30,084,914 $ 23,474,146
America West Resources, Inc. and Subsidiaries
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2011 2010 2011 2010
Coal sales $ 4,005,504 $ 3,377,413 $ 7,468,743 $ 4,460,517
Machine repair services 2,751 6,648 25,456 24,465
Total revenue 4,008,255 3,384,061 7,494,199 4,484,982
Operating expenses:
Operating costs and expenses 3,467,133 1,187,165 5,892,906 1,292,541
Depreciation, depletion and accretion 551,179 1,616,336 979,808 2,657,921
General and administrative 2,043,510 1,648,458 4,101,212 4,823,913
Total operating expenses 6,061,822 4,451,959 10,973,926 8,774,375
Loss from operations (2,053,567) (1,067,898) (3,479,727) (4,289,393)
Other income (expenses):
Gain on derivative liabilities 349,368 358,362 779,411 176,374
Interest income 501 30 502 84
Interest expense (1,872,707) (614,328) (6,839,808) (2,176,957)
Loss on extinguishment of debt (246,071) (3,047,313) (812,428) (3,047,313)
Total other expenses (1,768,909) (3,303,249) (6,872,323) (5,047,812)
Net Loss $(3,822,476) $(4,371,147) $(10,352,050) $(9,337,205)
Basic and Diluted Loss Per Share $ (0.09) $ (0.18) $ (0.26) $ (0.41)
Weighted Average Shares Outstanding
Basic and Diluted 44,431,500 23,800,903 39,565,812 22,806,598
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.AmericaCoal.com.
The America West Resources, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10183
Forward-Looking Statements
This news release contains forward-looking statements. Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
America West Resources Announces Record Revenue for Second Quarter 2011
Company Produces Nearly 200,000 Tons of Thermal Coal From Horizon Mine in First Half of 2011
SALT LAKE CITY, Aug. 23, 2011 (GLOBE NEWSWIRE) -- America West Resources, Inc. (OTCBB:AWSR.OB - News), a domestic compliant coal producer with mining operations in Central Utah, today announced its financial and operational results for the three and six month reporting periods ended June 30, 2011.
Financial Highlights for the Three Months Ended June 30, 2011 Compared to the Three Months Ended June 30, 2010:
Total revenues rose approximately 16% to $4,008,255 from $3,384,061 and represented a record revenue quarter for the Company and the third consecutive quarter of double-digit revenue growth.
Record coal production was also achieved in the second quarter, rising to 102,000 tons, up from 95,000 tons of coal produced in the first quarter of 2011 and 64,000 tons produced in the fourth quarter of 2010.
Net loss declined 12.5% to $3,882,476, or $0.09 loss per basic and diluted share, from $4,371,147, or $0.18 loss per basic and diluted share. The approximate $3.7 million in net loss for the quarter included approximately $2.2 million in one-time and non-cash charges.
Financial Highlights for the Six Months Ended June 30, 2011 Compared to the Six Months Ended June 30, 2010:
Revenues totaled $7,494,199, climbing 67% from $4,484,982.
Loss from operations decreased 19% to $3,479,727 from $4,289,393.
After factoring approximately $7.9 million in one-time and non-cash charges, net loss increased 10% to $10,352,050, or $0.26 loss per basic and diluted share, from $9,337,205, or $0.41 loss per basic and diluted share.
The Company's balance sheet reflects total assets of $30.08 million as of June 30, 2011, up from $23.48 million at December 31, 2010, while total liabilities were $30.35 million and $32.58 million, respectively. During the first six months of 2011, the Company raised $4.50 million through a private placement of its common stock. Subsequent to the end of the quarter, America West converted a total of $11.27 million of debt and accrued interest into approximately 11.27 million shares of its common stock at a $1.00 per share. In addition, the Company raised an additional $2.00 million in gross proceeds through the private placement of common stock priced at $1.00 per share.
Dan Baker, Chief Executive Officer of America West Resources, noted, "The first half of 2011 has been defined by steady, positive progress on a number of key fronts. After three challenging years, we announced in the last week of May that we transitioned Horizon from its concentration on mine development to a focus on production with two continuous miners now in operation. As a result, our underground mining teams are now working to achieve a monthly production rate approximating 60,000 tons per month, or approximately 2,000 tons per day. With the delivery and deployment of two new shuttle cars in July, our production ramp-up has since been accelerating; fueling confidence that our third quarter financial performance will mark yet another record quarter for America West."
For more detailed information relating to the Company's second quarter 2011 results, please refer to the financial statements included with this press release and the 10-Q that was filed with the U.S. Securities and Exchange Commission on August 17, 2011.
America West Resources, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, 2011 December 31, 2010
Assets
Current assets:
Cash and cash equivalents $ 1,573 $ 65,003
Restricted cash 4,010 4,010
Accounts receivable 676,123 466,871
Inventory 10,156 136,037
Deferred financing costs 702,703 543,291
Prepaid expenses 296,514 115,115
Total current assets 1,691,079 1,330,327
Deposits 926,839 804,148
Property and equipment:
Property and equipment 13,938,035 11,150,980
Land and mineral properties 23,947,926 19,627,847
Less: accumulated depreciation and depletion (10,418,965) (9,439,156)
Net property and equipment 27,466,996 21,339,671
Total assets $ 30,084,914 $ 23,474,146
Liabilities and Stockholders' Deficit
Current liabilities:
Bank overdraft $ 238,697 $ 180,733
Accounts payable 4,164,918 3,077,428
Accounts payable -- related party 483,886 521,506
Accrued expenses 3,791,190 4,567,572
Deferred revenue 500,000 500,000
Short-term debt -- related party, net of unamortized discounts of $2,368 and
$58,897 53,738 3,120,599
Current maturities of long-term debt, net of unamortized discount of
$1,028,605 and $2,197,251 9,604,600 17,772,358
Current maturities of convertible debt-related party net of unamortized
discount of $40,723 and $0 107,506 --
Current maturities of convertible debt net of unamortized discount of
$946,095 and $0 3,003,384 --
Capital lease obligation 90,814 --
Derivative liabilities 814,959 1,594,370
Total current liabilities 22,853,692 31,334,566
Long-term debt, net of unamortized discount of $15,963 and $0 553,640 1,114,450
Convertible debt-related party net of unamortized discount of $176,158 and $0 465,040 --
Convertible debt net of unamortized discount of $2,402,362 and $0 6,341,998 --
Asset retirement obligation 134,969 134,969
Total liabilities 30,349,339 32,583,985
Stockholders' deficit:
Preferred stock, $0.0001 par value; 2,500,000 shares authorized;
none issued and outstanding -- --
Common stock, $0.0001 par value; 300,000,000 shares authorized;
44,930,674 and 33,459,440 shares issued and outstanding,
respectively 4,492 3,346
Additional paid-in capital 49,190,374 29,994,056
Accumulated deficit (49,459,291) (39,107,241)
Total stockholders' deficit (264,425) (9,109,839)
Total liabilities and stockholders' deficit $ 30,084,914 $ 23,474,146
America West Resources, Inc. and Subsidiaries
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2011 2010 2011 2010
Coal sales $ 4,005,504 $ 3,377,413 $ 7,468,743 $ 4,460,517
Machine repair services 2,751 6,648 25,456 24,465
Total revenue 4,008,255 3,384,061 7,494,199 4,484,982
Operating expenses:
Operating costs and expenses 3,467,133 1,187,165 5,892,906 1,292,541
Depreciation, depletion and accretion 551,179 1,616,336 979,808 2,657,921
General and administrative 2,043,510 1,648,458 4,101,212 4,823,913
Total operating expenses 6,061,822 4,451,959 10,973,926 8,774,375
Loss from operations (2,053,567) (1,067,898) (3,479,727) (4,289,393)
Other income (expenses):
Gain on derivative liabilities 349,368 358,362 779,411 176,374
Interest income 501 30 502 84
Interest expense (1,872,707) (614,328) (6,839,808) (2,176,957)
Loss on extinguishment of debt (246,071) (3,047,313) (812,428) (3,047,313)
Total other expenses (1,768,909) (3,303,249) (6,872,323) (5,047,812)
Net Loss $(3,822,476) $(4,371,147) $(10,352,050) $(9,337,205)
Basic and Diluted Loss Per Share $ (0.09) $ (0.18) $ (0.26) $ (0.41)
Weighted Average Shares Outstanding
Basic and Diluted 44,431,500 23,800,903 39,565,812 22,806,598
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.AmericaCoal.com.
The America West Resources, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10183
Forward-Looking Statements
This news release contains forward-looking statements. Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
America West Resources Converts $11.27 Million in Debt to Equity and Completes $2 Million Equity Financing
Jul 21, 2011 7:30:00 AM
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SALT LAKE CITY, UT -- (MARKET WIRE) -- 07/21/11 -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has converted a total of $11,266,923 of debt and accrued interest into 11,266,923 shares of its common stock at $1.00 per share. In addition, the Company further reported that it has completed a private placement of 2,000,000 common shares priced at $1 per share, raising $2 million in gross proceeds from accredited and institutional investors. America West intends to use the net proceeds from the offering to purchase new and refurbished mining equipment in support of its expansion initiative underway at its Horizon coal mining operation in Utah, and for general working capital requirements.
John Thomas Financial, an independent broker/dealer and investment banking firm in New York City's financial district, acted as lead agents for the Offering and managed approximately $4.97 million of the debt to equity conversion.
Commenting on the transactions, Dan Baker, President and Chief Executive Officer of America West, stated, "This debt to equity conversion is a major achievement for our Company and one that is expected to materially strengthen our financial foundation. We are very thankful for the support of all our note holders who, through this conversion, have demonstrated their confidence in our growth strategy and future success. Moreover, the support that we have continued to receive from John Thomas Financial has proven of immeasurable value to America West and we are deeply appreciative of their efforts."
Continuing, Baker said, "Looking ahead, we remain on point to achieve our near term goal of achieving positive cash flow from our mining activities at Horizon. We have purchased two shuttle cars that are expected to help accelerate our current monthly coal production to more than 60,000 tons, and will aid in our plans to expand Horizon's operations from two to three mining sections by the end of the year. At this juncture, our management team continues to engage in active discussions with several groups capable of supplying us with the growth capital we'll require to achieve this greater goal and to realize our ultimate plan of transitioning from a continuous mining platform to a long wall mining operation."
For more detailed information regarding the debt to equity conversions and private placement, please refer to a related Form 8-K filed with the U.S. Securities and Exchange Commission yesterday.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities in the United States. The securities described in this press release and in the related 8-K filed with the U.S. Securities and Exchange Commission have not been registered under the Securities Act of 1933 and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.americacoal.com.
Forward-Looking Statements
This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
America West Resources Converts $11.27 Million in Debt to Equity and Completes $2 Million Equity Financing
Jul 21, 2011 7:30:00 AM
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SALT LAKE CITY, UT -- (MARKET WIRE) -- 07/21/11 -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has converted a total of $11,266,923 of debt and accrued interest into 11,266,923 shares of its common stock at $1.00 per share. In addition, the Company further reported that it has completed a private placement of 2,000,000 common shares priced at $1 per share, raising $2 million in gross proceeds from accredited and institutional investors. America West intends to use the net proceeds from the offering to purchase new and refurbished mining equipment in support of its expansion initiative underway at its Horizon coal mining operation in Utah, and for general working capital requirements.
John Thomas Financial, an independent broker/dealer and investment banking firm in New York City's financial district, acted as lead agents for the Offering and managed approximately $4.97 million of the debt to equity conversion.
Commenting on the transactions, Dan Baker, President and Chief Executive Officer of America West, stated, "This debt to equity conversion is a major achievement for our Company and one that is expected to materially strengthen our financial foundation. We are very thankful for the support of all our note holders who, through this conversion, have demonstrated their confidence in our growth strategy and future success. Moreover, the support that we have continued to receive from John Thomas Financial has proven of immeasurable value to America West and we are deeply appreciative of their efforts."
Continuing, Baker said, "Looking ahead, we remain on point to achieve our near term goal of achieving positive cash flow from our mining activities at Horizon. We have purchased two shuttle cars that are expected to help accelerate our current monthly coal production to more than 60,000 tons, and will aid in our plans to expand Horizon's operations from two to three mining sections by the end of the year. At this juncture, our management team continues to engage in active discussions with several groups capable of supplying us with the growth capital we'll require to achieve this greater goal and to realize our ultimate plan of transitioning from a continuous mining platform to a long wall mining operation."
For more detailed information regarding the debt to equity conversions and private placement, please refer to a related Form 8-K filed with the U.S. Securities and Exchange Commission yesterday.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities in the United States. The securities described in this press release and in the related 8-K filed with the U.S. Securities and Exchange Commission have not been registered under the Securities Act of 1933 and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.americacoal.com.
Forward-Looking Statements
This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
America West Resources Converts $11.27 Million in Debt to Equity and Completes $2 Million Equity Financing
Jul 21, 2011 7:30:00 AM
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SALT LAKE CITY, UT -- (MARKET WIRE) -- 07/21/11 -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has converted a total of $11,266,923 of debt and accrued interest into 11,266,923 shares of its common stock at $1.00 per share. In addition, the Company further reported that it has completed a private placement of 2,000,000 common shares priced at $1 per share, raising $2 million in gross proceeds from accredited and institutional investors. America West intends to use the net proceeds from the offering to purchase new and refurbished mining equipment in support of its expansion initiative underway at its Horizon coal mining operation in Utah, and for general working capital requirements.
John Thomas Financial, an independent broker/dealer and investment banking firm in New York City's financial district, acted as lead agents for the Offering and managed approximately $4.97 million of the debt to equity conversion.
Commenting on the transactions, Dan Baker, President and Chief Executive Officer of America West, stated, "This debt to equity conversion is a major achievement for our Company and one that is expected to materially strengthen our financial foundation. We are very thankful for the support of all our note holders who, through this conversion, have demonstrated their confidence in our growth strategy and future success. Moreover, the support that we have continued to receive from John Thomas Financial has proven of immeasurable value to America West and we are deeply appreciative of their efforts."
Continuing, Baker said, "Looking ahead, we remain on point to achieve our near term goal of achieving positive cash flow from our mining activities at Horizon. We have purchased two shuttle cars that are expected to help accelerate our current monthly coal production to more than 60,000 tons, and will aid in our plans to expand Horizon's operations from two to three mining sections by the end of the year. At this juncture, our management team continues to engage in active discussions with several groups capable of supplying us with the growth capital we'll require to achieve this greater goal and to realize our ultimate plan of transitioning from a continuous mining platform to a long wall mining operation."
For more detailed information regarding the debt to equity conversions and private placement, please refer to a related Form 8-K filed with the U.S. Securities and Exchange Commission yesterday.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities in the United States. The securities described in this press release and in the related 8-K filed with the U.S. Securities and Exchange Commission have not been registered under the Securities Act of 1933 and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.americacoal.com.
Forward-Looking Statements
This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
America West Resources Converts $11.27 Million in Debt to Equity and Completes $2 Million Equity Financing
Jul 21, 2011 7:30:00 AM
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SALT LAKE CITY, UT -- (MARKET WIRE) -- 07/21/11 -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has converted a total of $11,266,923 of debt and accrued interest into 11,266,923 shares of its common stock at $1.00 per share. In addition, the Company further reported that it has completed a private placement of 2,000,000 common shares priced at $1 per share, raising $2 million in gross proceeds from accredited and institutional investors. America West intends to use the net proceeds from the offering to purchase new and refurbished mining equipment in support of its expansion initiative underway at its Horizon coal mining operation in Utah, and for general working capital requirements.
John Thomas Financial, an independent broker/dealer and investment banking firm in New York City's financial district, acted as lead agents for the Offering and managed approximately $4.97 million of the debt to equity conversion.
Commenting on the transactions, Dan Baker, President and Chief Executive Officer of America West, stated, "This debt to equity conversion is a major achievement for our Company and one that is expected to materially strengthen our financial foundation. We are very thankful for the support of all our note holders who, through this conversion, have demonstrated their confidence in our growth strategy and future success. Moreover, the support that we have continued to receive from John Thomas Financial has proven of immeasurable value to America West and we are deeply appreciative of their efforts."
Continuing, Baker said, "Looking ahead, we remain on point to achieve our near term goal of achieving positive cash flow from our mining activities at Horizon. We have purchased two shuttle cars that are expected to help accelerate our current monthly coal production to more than 60,000 tons, and will aid in our plans to expand Horizon's operations from two to three mining sections by the end of the year. At this juncture, our management team continues to engage in active discussions with several groups capable of supplying us with the growth capital we'll require to achieve this greater goal and to realize our ultimate plan of transitioning from a continuous mining platform to a long wall mining operation."
For more detailed information regarding the debt to equity conversions and private placement, please refer to a related Form 8-K filed with the U.S. Securities and Exchange Commission yesterday.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities in the United States. The securities described in this press release and in the related 8-K filed with the U.S. Securities and Exchange Commission have not been registered under the Securities Act of 1933 and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.americacoal.com.
Forward-Looking Statements
This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
America West Resources Converts $11.27 Million in Debt to Equity and Completes $2 Million Equity Financing
Jul 21, 2011 7:30:00 AM
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SALT LAKE CITY, UT -- (MARKET WIRE) -- 07/21/11 -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has converted a total of $11,266,923 of debt and accrued interest into 11,266,923 shares of its common stock at $1.00 per share. In addition, the Company further reported that it has completed a private placement of 2,000,000 common shares priced at $1 per share, raising $2 million in gross proceeds from accredited and institutional investors. America West intends to use the net proceeds from the offering to purchase new and refurbished mining equipment in support of its expansion initiative underway at its Horizon coal mining operation in Utah, and for general working capital requirements.
John Thomas Financial, an independent broker/dealer and investment banking firm in New York City's financial district, acted as lead agents for the Offering and managed approximately $4.97 million of the debt to equity conversion.
Commenting on the transactions, Dan Baker, President and Chief Executive Officer of America West, stated, "This debt to equity conversion is a major achievement for our Company and one that is expected to materially strengthen our financial foundation. We are very thankful for the support of all our note holders who, through this conversion, have demonstrated their confidence in our growth strategy and future success. Moreover, the support that we have continued to receive from John Thomas Financial has proven of immeasurable value to America West and we are deeply appreciative of their efforts."
Continuing, Baker said, "Looking ahead, we remain on point to achieve our near term goal of achieving positive cash flow from our mining activities at Horizon. We have purchased two shuttle cars that are expected to help accelerate our current monthly coal production to more than 60,000 tons, and will aid in our plans to expand Horizon's operations from two to three mining sections by the end of the year. At this juncture, our management team continues to engage in active discussions with several groups capable of supplying us with the growth capital we'll require to achieve this greater goal and to realize our ultimate plan of transitioning from a continuous mining platform to a long wall mining operation."
For more detailed information regarding the debt to equity conversions and private placement, please refer to a related Form 8-K filed with the U.S. Securities and Exchange Commission yesterday.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities in the United States. The securities described in this press release and in the related 8-K filed with the U.S. Securities and Exchange Commission have not been registered under the Securities Act of 1933 and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.americacoal.com.
Forward-Looking Statements
This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
Nice Bid on COIL.
Citadel Exploration Inc. (CEI) is engaged in the acquisition, exploration and development of oil and natural gas. CEI was formed in 2011 by highly successful veterans of the California oil and gas industry. Company management and its founders have enjoyed considerable successes and strengths in the areas of technical evaluation, discovery and development of oil and natural gas properties.
CEI is a publically traded corporation organized under the laws of the state of Nevada. CEI operates its properties through its wholly-owned subsidiary Citadel Exploration, LLC (CEL). CEL is a corporation organized under the laws of the state of California.
CEI strives to implement an accelerated development program utilizing capital resources, a regional operating focus, experienced management and technical team to increase production and increase returns for our stockholders. Our corporate strategy is to continue building value in the Company through successful exploration and development of oil and natural gas assets.
Looks like explosive revenues are to follow
America West Resources Completes Mine Development and Commences Full Production at Horizon Coal Mine
Cost to Produce Thermal Coal From the Mine Expected to Decrease While Coal Production Rate Escalates to More Than 60,000 Tons per Month
May 26, 2011 7:30:00 AM
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SALT LAKE CITY, UT -- (MARKET WIRE) -- 05/26/11 -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has successfully completed mine development and commenced full production at Horizon Coal Mine, located in Carbon County about 120 miles southeast of Salt Lake City, Utah. It is estimated that there is more than 16 million recoverable tons of high quality, thermal coal reserves under lease at the Horizon Mine.
Over the past 36 months, America West has focused on implementing a mine development strategy utilizing a room and pillar mining approach to excavating coal deposits from the 1,640 acre mining leasehold. A room-and-pillar operation involves creating a network of interconnected tunnels in the coal seam during the mine development stage. These tunnels result from the excavation of a series of "rooms" into the coal bed, leaving "pillars" or columns of coal to help support the mine roof. The rooms and pillars create what on a map looks like a series of city streets and blocks, with the streets being the open rooms and the blocks being the pillars of coal.
During the mine development stage, the Company created five tunnels, each 20 feet wide, which extend up to three miles underground when measured from the surface entrance of the mine to the farthest working area of the mine. Development also included the installation of electrical, water supply, shuttle car and conveyor belt systems throughout the entire mine, necessary to support full production.
Dan Baker, President and Chief Executive Officer of America West, stated, "Now that Horizon has transitioned to full production phase, our mining team will commence with the removal of the pillars of coal. Pillaring involves the use of mechanized roof support equipment, known as mobile roof supports or MRSs, to support the roof of the mine while the pillars are removed. Because the pillars are being removed from a section, time and materials are not utilized to maintain the roof in that area of the mine to the same extent that they are used during the development phase, thus the cost to excavate coal from the mine drops measurably while coal production materially increases."
With about 1.6 million tons of coal produced-to-date from Horizon, the Company expects to see its monthly production escalate to an estimated average of 60,000 tons now that it is in full production and operating two continuous miners. Consequently, America West remains on pace to achieve positive cash flow in the current quarter and to implement further expansion initiatives, as planned. More specifically, it is management's intent to deploy a third continuous miner in the second half of 2011, which should help to push monthly coal production to more than 90,000 tons, or over one million tons per year. Longer-term expansion goals include the acquisition and deployment of a longwall mining system at Horizon, which is subject to the Company obtaining the necessary financing. Longwall operations generally produce between three to six million tons of coal per year, on average.
Concluding, Baker added, "We offer our thanks to John Thomas Financial for their assistance in the financings that have supported the Company in its mission to move to full production status. We have arrived at a critical inflexion point in the evolution of America West Resources, and our future has never looked brighter."
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.americacoal.com.
Forward-Looking Statements
This news release contains forward-looking statements. Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
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FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
ELITE FINANCIAL COMMUNICATIONS GROUP
Dodi B. Handy
President & CEO
(Twitter: dodihandy)
Kathy Addison
COO
(Twitter: kathyaddison)
407-585-1080
via email at Email Contact
Source: America West Resources, Inc.
AWSR is picking up Momentum.
AWSR is breaking out on Good Volume.
Looking for this stock to hit 1.50 short term.
AWSR is a buy. It has a short-term upside to 1.50-1.75. and a long term upside of 4.50.
Volume alert on AWSR. Stock is breaking out.
Volume alert on AWSR. Stock is breaking out.
Volume alert on AWSR. Stock is breaking out.
Look NO More.
Here it is.
America West Resources, Inc. (AWSR) UP 12.50% and going hire.
If want to see what happens when a coal mine hits a long wall of coal. Look at LLEN L&L Energy. Yep I found this Gem when it was trading around .75 I was the one that started there message board on Investors Hub.
So do some DD on AWSR and start accumulating it.
America West Resources, Inc. (AWSR) UP 12.50% and going hire>
America West Resources, Inc. (AWSR) UP 12.50% and going hire>
America West Resources, Inc. (AWSR) UP 12.50% and going hire>
America West Resources, Inc. (AWSR) UP 12.50% and going hire>
Buy America West Resources
Balance sheet will be looking stronger and so will the stock.
$4.5 Million Financing and Converts $5 Million in Debt to Equity
SALT LAKE CITY, UT, May 04, 2011 (MARKETWIRE via COMTEX) -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has closed its previously reported private placement, raising total gross proceeds of approximately $4.5 million. The terms of the private placement provided for the issuance of 4.5 million shares of common stock offered at $1.00 per share. marked improvement in our financial standing represents a critical achievement for America West and positions us well For more information, please visit www.AmericaCoal.com.
Let's put some research out on them and get them an Investment Banker.
America West Resources Completes $4.5 Million Financing and Converts $5 Million in Debt to Equity
SALT LAKE CITY, UT, May 04, 2011 (MARKETWIRE via COMTEX) -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has closed its previously reported private placement, raising total gross proceeds of approximately $4.5 million. The terms of the private placement provided for the issuance of 4.5 million shares of common stock offered at $1.00 per share.
New York City-based John Thomas Financial acted as the placement agent for the offering.
In addition, early last month America West Resources filed a Form 8-K with the U.S. Securities and Exchange Commission detailing that it had arranged for the conversion of approximately $5.0 million from debt to equity at a conversion price of $1.00 per share.
According to Dan Baker, President and CEO of America West, "The debt conversion, when combined with the capital raised in the private placement, has materially strengthened our Company's balance sheet. This marked improvement in our financial standing represents a critical achievement for America West and positions us well for continued advancement of our mine development strategy and towards our goal of achieving positive cash flow in the current quarter, notwithstanding any unforeseen challenges that may arise."
The offers and sales of the shares of common stock noted above were made without registration under the Securities Act of 1933, as amended, and the securities laws of certain states, in reliance on the exemptions provided by Section 4(2) of the Act and Regulation D under the Act and in reliance on similar exemptions under applicable state laws.
About America West Resources, Inc. Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.AmericaCoal.com.
Forward-Looking Statements This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
ELITE FINANCIAL COMMUNICATIONS GROUP
Dodi B. Handy
President & CEO
(Twitter: dodihandy)
Or
Kathy Addison
COO
(Twitter: kathyaddison)
407-585-1080
or via email at Email Contact
Check out America West Resources OTCBB: AWSR
Completes $4.5 Million Financing
America West Resources Completes $4.5 Million Financing and Converts $5 Million in Debt to Equity
SALT LAKE CITY, UT, May 04, 2011 (MARKETWIRE via COMTEX) -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has closed its previously reported private placement, raising total gross proceeds of approximately $4.5 million. The terms of the private placement provided for the issuance of 4.5 million shares of common stock offered at $1.00 per share.
New York City-based John Thomas Financial acted as the placement agent for the offering.
In addition, early last month America West Resources filed a Form 8-K with the U.S. Securities and Exchange Commission detailing that it had arranged for the conversion of approximately $5.0 million from debt to equity at a conversion price of $1.00 per share.
According to Dan Baker, President and CEO of America West, "The debt conversion, when combined with the capital raised in the private placement, has materially strengthened our Company's balance sheet. This marked improvement in our financial standing represents a critical achievement for America West and positions us well for continued advancement of our mine development strategy and towards our goal of achieving positive cash flow in the current quarter, notwithstanding any unforeseen challenges that may arise."
The offers and sales of the shares of common stock noted above were made without registration under the Securities Act of 1933, as amended, and the securities laws of certain states, in reliance on the exemptions provided by Section 4(2) of the Act and Regulation D under the Act and in reliance on similar exemptions under applicable state laws.
About America West Resources, Inc. Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.AmericaCoal.com.
Forward-Looking Statements This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
ELITE FINANCIAL COMMUNICATIONS GROUP
Dodi B. Handy
President & CEO
(Twitter: dodihandy)
Or
Kathy Addison
COO
(Twitter: kathyaddison)
407-585-1080
or via email at Email Contact
SOURCE: America West Resources, Inc.
AWSR Starting to Move.
America West Resources Completes $4.5 Million Financing and Converts $5 Million in Debt to Equity
SALT LAKE CITY, UT, May 04, 2011 (MARKETWIRE via COMTEX) -- America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has closed its previously reported private placement, raising total gross proceeds of approximately $4.5 million. The terms of the private placement provided for the issuance of 4.5 million shares of common stock offered at $1.00 per share.
New York City-based John Thomas Financial acted as the placement agent for the offering.
In addition, early last month America West Resources filed a Form 8-K with the U.S. Securities and Exchange Commission detailing that it had arranged for the conversion of approximately $5.0 million from debt to equity at a conversion price of $1.00 per share.
According to Dan Baker, President and CEO of America West, "The debt conversion, when combined with the capital raised in the private placement, has materially strengthened our Company's balance sheet. This marked improvement in our financial standing represents a critical achievement for America West and positions us well for continued advancement of our mine development strategy and towards our goal of achieving positive cash flow in the current quarter, notwithstanding any unforeseen challenges that may arise."
The offers and sales of the shares of common stock noted above were made without registration under the Securities Act of 1933, as amended, and the securities laws of certain states, in reliance on the exemptions provided by Section 4(2) of the Act and Regulation D under the Act and in reliance on similar exemptions under applicable state laws.
About America West Resources, Inc. Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.AmericaCoal.com.
Forward-Looking Statements This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
ELITE FINANCIAL COMMUNICATIONS GROUP
Dodi B. Handy
President & CEO
(Twitter: dodihandy)
Or
Kathy Addison
COO
(Twitter: kathyaddison)
407-585-1080
or via email at Email Contact
SOURCE: America West Resources, Inc.
If you made money with LLEN You might want to take a look at AWSR.
Look for strong volume increase and and this stock should hit 4 short term.
AWSR look like a great buy.
I'm a Buyer.
Mr. Taurus
Research Report out on America West Resources. OTCBB: AWSR
http://ventureresearchllc.com/pdfs/VR_AWSR_FINAL092810_FORWEB.pdf
Clay Mahaffey, CFA has a $1.18 stock price target.
This stock as some serious up side.
Research Report out on America West Resources.
http://ventureresearchllc.com/pdfs/VR_AWSR_FINAL092810_FORWEB.pdf
Clay Mahaffey, CFA has a $1.18 stock price target.
This stock as some serious up side.
George Jarkesy Jr.: Very Bullish On Coal
http://www.istockanalyst.com/article/viewarticle/articleid/4285133
Payment Data Systems, Inc. to Acquire All Assets of Electronic Recovery Systems LLC
With an additional 1,200,000 in revenues and 800,000 in EBITDA.
Payment Data Systems has some real up side.
Look for the stock to Trade Up to the .35 range.
Mr. Taurus is a buyer.
Nice Volume THCB is heading for .75
I'm a Buyer.
Mr. Taurus
Texas Hill Country Barbecue, Inc. to Open Three Restaurant Locations in the Dallas Market
Texas Hill Country Barbeque Common Stock (USOTC:THCB)
Intraday Stock Chart
Today : Tuesday 21 September 2010
Texas Hill Country Barbecue, Inc. (PINKSHEETS: THCB) announced today the strategic launch of their first three locations planned to open in 2010.
Arvind Sharma, Director of Franchise Development for THCB, stated, "We are pleased to announce the opening of our restaurants in three strategic Dallas markets: Main Street Dallas (Downtown), Rowlett/Rockwall, and Weatherford/Ft. Worth. THCB has produced quality food and products for nationally recognized institutions such as Wal-Mart and HEB for several years. Our Op's Team is very excited about the choice of these three strategically picked locations and ready to establish the brand in these markets very quickly and is fully confident of opening additional future locations per our corporate launch strategy."
The Op's team added, "We feel very good about our brand and estimate that gross revenues for each location should average upwards of $2 million each!"
The locations will be a blend of Corporate and Joint Venture owned and operated units. The goal is to maximize Joint Venture relationships as Texas Hill Country Barbecue plans to launch 18 units in the next 20 months.
Texas Hill Country Barbecue manufactures the sale of smoked meat products throughout the United States. The production of smoked meat products including brisket, sausage, pork ribs, pulled pork, barbecue sauce and other products have been in continuous production since 1971 under various production labels. The product is being manufactured and distributed by Texas Hill Country Barbecue, are time tested and proven products in the smoked meat market. Texas barbecue is world famous and Texas Hill Country Barbecue is without a doubt the best in Texas.
Looks like Texas Hill Country BBQ is starting to grow.
I'm increasing my position.
Look for .75 short term run.