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Adamis Pharmaceuticals Announces Phase 3 Meets Primary Endpoint
Dec. 7, 2010 (Marketwire) --
SAN DIEGO, CA -- (Marketwire) -- 12/07/10 -- Adamis Pharmaceuticals Corporation (OTCBB: ADMP) announced the successful completion of a Phase 3 contraceptive trial of the company's contraceptive gel product candidate named Savvy® (C31G). The study met its primary endpoint and was conducted by the Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD), National Institutes of Health (NIH), in the Contraceptive Clinical Trials Network at 14 sites in the United States. The results of the NICHD study are published in Obstetrics and Gynecology, v.116, pages 1265-1273, in December, 2010.
The Phase 3 trial was a randomized, double-masked, controlled comparator study to assess whether a gel containing the spermicide, C31G, was non-inferior to Conceptrol®, a commercially available product containing nonoxynol-9 (N-9). The clinical investigators found that C31G was not inferior in contraceptive efficacy to the comparator drug Conceptrol®. Thus, the study met its primary objective. Moreover, the gel was well-tolerated and had a high degree of acceptability in women who completed the study. No drug-related serious adverse events were observed with C31G. Drug-related side effects of C31G were generally mild and did not lead to discontinuation.
Currently, all spermicides commercially available in the U.S. contain the active ingredient N-9 in a carrier such as a gel, film, cream, foam, suppository, or tablet. N-9 has been reported in some studies to cause irritant and allergic reactions in some users. Although the Conceptrol® product was effective and well-tolerated in the NICHD comparative trial, there were a significantly lower number of drug-related events with the C31G gel and fewer women discontinued the study due to drug-related side effects. In an interview with Reuters Health, lead researcher Dr. Anne E. Burke of The John's Hopkins School of Medicine stated, "There are concerns with nonoxynol-9, such as vaginal side effects and genital irritation for some users. It seems that C31G might offer improvements in those regards." C31G does not contain nonoxynol-9 and, if commercialized, may offer a welcome alternative for women who seek a non-hormonal method of contraception.
C31G previously was the subject of two Phase 3 clinical trials conducted in Africa, supported by Family Health International and the United States Agency for International Development, to determine whether C31G was safe and effective for reducing women's risk of acquiring HIV infection. The external independent Data Monitoring Committee reviewing those trials concluded in 2005 and 2006 that, while there were no safety concerns based on the results of the studies to date, continuing the trials would not allow the effect of C31G on HIV acquisition to be determined because of a lower than expected rate of HIV seroconversion in the trials. The committee determined that continuation of the trials was not warranted due to a lack of statistical significance between C31G gel and the vehicle control in the interim data. Accordingly, the trials were discontinued.
Adamis estimates that the market for a product with the characteristics of C31G to be in the $500 million range. Dr. Dennis J. Carlo, President and CEO, stated, that "Since the product does not fit in the core business of the company, Adamis is currently evaluating various out-licensing opportunities. We are currently in discussions with multiple organizations that have a focus or business unit in the area of contraception."
About Adamis Pharmaceuticals
Adamis Pharmaceuticals has three wholly-owned subsidiaries: Cellegy Holdings, Inc.; Adamis Corporation; and Biosyn, Inc. Adamis Corporation has two wholly-owned subsidiaries, Adamis Laboratories and Adamis Viral Therapies. Adamis Labs has niche prescription products in the allergy and respiratory therapeutic area and intends to launch additional products in this area. Adamis Viral Therapies is focused on the development of patented, proprietary technologies for the potential treatment of human prostate cancer.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future results of operations or future financial performance, including, but not limited to the following statements: the company's ability to successfully develop and market C31G assuming it is approved for marketing by the FDA and other regulatory authorities; regulatory issues or delays with the FDA; and the intellectual property protection that may be afforded by any patents or patent applications relating to C31G. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Adamis' actual results to be materially different from these forward-looking statements. These risks and uncertainties include, but are not limited to: whether C31G will be approved for marketing by the FDA and other regulatory authorities; whether the company will be able to obtain required funding to pursue activities relating to C31G; whether C31G is a commercially viable product and can be commercialized, manufactured, and marketed in a cost-effective manner; the extent of consumer demand for any such product; and whether any third party will be interested in entering into agreements relating to development and marketing of C31G. It is uncertain whether C31G will ever be commercialized or whether the company will ever realize revenues therefrom. Certain of these risks, uncertainties, and other factors, as well as other risks and uncertainties relating to the company's business are described in greater detail in Adamis' filings from time to time with the SEC, all of which are available free of charge on the SEC's web site at http://www.sec.gov. Adamis expressly disclaims any intent to update any forward-looking statements.
For Additional Information
Capital Group Communications, Inc.
Mark Bernhard
mark@capitalgc.com
Mark Gundy
mark.gundy@capitalgc.com
Tel: 415.332.7200
Equititrend
Brian Barnes
bbarnes@equititrend.com
Tel: 1-800-953-3350
Source: Marketwire (December 7, 2010 - 9:30 AM EST)
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International Building Technologies Group, Inc. Has Completed the Audit and Due Diligence Process Related to Its Possible Merger With FHH Sino
Dec. 7, 2010 (Business Wire) -- International Building Technologies Group, Inc. (OTCBB:INBG) announced today that, pursuant to the signed Letter of Intent between INBG and FHH Sino New Energies Co., Ltd., the audit and due diligence study undertaken by a PCAOB listed auditing firm in Hong Kong and a law firm in Beijing, China have been completed and signed off by these two firms.
According to the due diligence study provided by the Beijing law firm, FHH Sino New Energies Co., Ltd., a Chinese company (“FHH Sino”) located in Weihai, Shandong Province, is in compliance with the laws and regulations of China under which FHH Sino operates.
According to the report provided by the auditing firm, the total assets of FHH Sino are worth approximately USD15 million. The current asset value excludes the value increment of the FHH Sino’s land property of where the FHH petroleum storage facilities Phase One located next to the Weihai Harbor with total areas of 142,525 square meters (1,546,000 square feet approx.), which was worth more than USD 22 million according to an appraisal a year and half ago prepared by an local accounting firm in accordance with China accounting standards.
Based on the issued DD and audit reports, Currently INBG and FHH Sino are in negotiations relative to the exact terms of the definitive merger agreements. Meanwhile, FHH Sino is being restructured in order to establish its holding company or beneficiary company in Hong Kong for the merger with INBG.
Stated Kenneth Yeung, CEO of INBG: “We are glad that the audit and due diligence have been completed. It has taken longer than expected, but we wanted to make sure all audit and due diligence were handled properly in order to comply with the laws and regulations in both the U.S. and China and to provide maximum protection to our shareholders. We have posted some recent photos of FHH Sino’s construction sites with the being built petroleum storages tanks on INBG’s website and we will keep our investors informed once a definitive merger agreement is executed.”
This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
International Building Technologies Group, Inc.
Patrick Donahoo, 702-927-7668
ir@ibtgi.com
Source: Business Wire (December 7, 2010 - 9:30 AM EST)
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RainChief Signs Memorandum of Understanding With Prometea Partners
Dec. 7, 2010 (GlobeNewswire) --
VANCOUVER, British Columbia, Dec. 7, 2010 (GLOBE NEWSWIRE) -- RainChief Energy Inc. (OTCBB:RCFEF) today announced the execution of a Memorandum of Understanding with Prometea Partners Ltd. for the development of a 1MW PV solar rooftop plant with one of Italy's leading industrial corporations. Prometea is a London-based corporation with its primary operations office and subsidiary operating companies based in Italy.
It is expected that the initial project MOU will be expanded into a long-term agreement between the two companies for the joint development of a minimum of 60MW of PV solar capacity in Italy over the next 24 month period.
Prometea and its subsidiary operating companies are experienced turn-key facilitators of PV solar power projects, currently focused on development opportunities in Italy. The group brings together a highly professional organization with expertise in all the relevant aspects of renewable energy project development. Prometea has extensive experience in this specialized sector and combines technical and financial expertise with on-the-ground knowledge and regulatory awareness.
ENERGYKA, ENERGYKA Engineering and ENERGYKA Electrosystems ("Prometea Group") are all Italian subsidiaries of Prometea operating in the areas of engineering, design, development, installation and connection of PV solar plants. The Prometea Group provides design and installation services, including EPC and subcontracting for ground or roof mounted PV systems.
Prometea also provides RainChief with in-depth knowledge of the incentive framework and the approval process required for officially authorized PV projects in Italy. Additionally, the group has the professional background to determine the most ideal authorized rooftop or field sites for potential project development and to source and manage bankable engineering, procurement and construction (EPC) contractors with a proven record of PV project completion. To-date, Prometea has been involved in the development of over 175MW of PV solar projects in Italy.
In announcing the MOU, RainChief President, Brad Moynes said, "In partnering with Prometea we have joined with one of the most experienced PV solar development groups in Italy and the European Union. Their demonstrated project record and in-depth knowledge of the solar industry will serve RainChief well as we establish our presence in the EU solar sector. We look forward to expanding our relationship with Prometea."
For additional information about Prometea Partners and ENERGYKA visit their websites at www.prometeapartners.com and www.energyka.com.
About RainChief Energy:
RainChief Energy Inc. is a Canadian-based independent renewable energy producer currently engaged in the development of PV solar energy projects in Italy and the European Union. RainChief and key operational partners have the combined capabilities to manage and direct all key steps in the selection, authorization, financing, development and operations of PV solar power projects. Operating partners, plus project suppliers and contractors have demonstrated capabilities in the areas of project development, engineering and construction.
About Prometea Partners:
Prometea Partners is a London-based renewable energy developer operating in the EMEA region on a wide spectrum of renewable energy technologies. Prometea brings together technical and financial expertise with on-the-ground local knowledge of the markets in which it operates. In the solar sector, Prometea has currently signed agreements to develop up to 175MW of ground and roof mounted solar PV installations in Italy alone.
Forward-Looking Information:
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
CONTACT: RainChief Energy Inc.
Brad Moynes, President
+1-604-484-5761 Ext 31
Fax: +1-604-484-5760
Investor Relations:
invest@rainchief.com
Source: Globe Newswire (December 7, 2010 - 9:30 AM EST)
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Daulton Capital Establishing Gold Exploration in Region That Favors Investment and Rewards
Yukon Gold Mining Alliance Calls the Yukon One of the Best and Most Exciting Jurisdictions in the World in Which to Conduct Mineral Exploration and Mining
Dec. 7, 2010 (Marketwire) --
LAS VEGAS, NEVADA -- (Marketwire) -- 12/07/10 -- Daulton Capital Corp. (OTCBB: DUCP), a natural resource finance company specializing in precious & base metal developments, is please to provide shareholders some commentary from the Yukon Gold Mining Alliance, which called the region one of the best and most exciting jurisdictions in the world in which to conduct mineral exploration and mining.
The Yukon Gold Mining Alliance made comments about the Yukon in a press release dated December 2, 2010, where they noted a number of positive reasons for investment in the Yukon, including the following:
-- The Yukon has world-class deposits, with 2,700 known mineral occurrences
and more than 80 mineral deposits with established reserves, some of
which are the largest known in the world.
-- It has well-developed infrastructure, including more than 4,800
kilometres of all-weather roads, numerous airports, direct access to
Asia via two ice-free ports in neighbouring Alaska, clean energy,
Internet and cell phone service throughout the territory.
-- The Yukon government understands business, promotes investment and
offers favourable tax incentives and mining laws that provide secure
mineral tenure and has a single coordinated approach to environmental
assessment. And the Yukon's royalties are amongst the most competitive
in Canada.
-- And, perhaps most encouraging, recent increases in mineral exploration
activity have quickly reaped rewards, with significant discoveries in
gold, silver and copper.
Located in the well recognized, and prolific, Tintina Gold Belt, Daulton Capital's Balarat Project straddles Balarat Creek, one of the most productive creeks in the Yukon. This claim block is in close proximity to both the Underworld and Kaminak discoveries, which are now owned by Kinross after a takeover valued at about $140 million.
Kaminak, already recognized as bigger than the White Gold Project, has recently discovered two new, at surface, gold zones with drilling at Americano yielding a new gold discovery of 2.36 g/t Au over 18m.
About Daulton Capital Corp.
Daulton Capital Corporation is a natural resource finance company focused on precious and base metals as well as oil & gas opportunities. Management's corporate philosophy is to be a Project Generator, with the objective of optioning/joint venturing projects with major and junior natural resource companies from inception through to production. The Company has acquired property rights in the Klondike Gold region of the Yukon and continues focusing on acquiring and/or funding additional resource projects. Please visit www.daultoncapital.com for more information.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Daulton Capital Corp.
Peter Graham
1-877-882-7858
Daulton.Capital@yahoo.com
www.daultoncapital.com
Source: Marketwire (December 7, 2010 - 9:31 AM EST)
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MusclePharm Products Set to Rollout in Vitamin World Locations in 2011
MusclePharm Strengthens U.S. Distribution Adding Vitamin World to a Network That Includes GNC, Vitamin Shoppe, Amazon.com, Vitacost.com, Bodybuilding.com and Many More
Dec. 7, 2010 (GlobeNewswire) --
DENVER, Dec. 7, 2010 (GLOBE NEWSWIRE) -- MusclePharm(R) Corporation (OTCBB:MSLP), one of the fastest growing nutritional supplement companies in the United States, announced on Tuesday that its award-winning products will launch in up to 400 of the Vitamin World retail locations nationwide starting in January 2011.
The agreement starts in January and Vitamin World will introduce MusclePharm's top-selling supplements, including Assault, a popular pre-workout performance-enhancing product, and Shred Matrix, a revolutionary cutting-edge fat loss system, in its retail locations throughout the country.
Vitamin World is widely recognized as one of the top supplement retail providers in the United States and the partnership will allow MusclePharm an opportunity for continued growth. "We are very excited about adding more retail locations to our nationwide distribution. We know Vitamin World will be a great partner and will further spread the MusclePharm brand nationwide," MusclePharm President Cory Gregory said. "This new partnership with Vitamin World is a direct reflection of our fulfillment agreement and Distribution Center we recently launched with our manufacturer, which will allow us continue to grow at an impressive rate."
MusclePharm announced the iVitals fulfillment agreement last month and it is one that will greatly reduce backorders and improve turnaround time on all orders, allowing the company to increase its availability nationwide.
MusclePharm products are currently available nationwide in more than 1,200 General Nutrition Centers (GNC), 450 Vitamin Shoppes and more than 100 online stores.
About MusclePharm
Headquartered in Denver, Colorado, MusclePharm is a rapidly expanding healthy life-style company that develops and manufactures a full line of NSF and scientifically approved, nutritional supplements that are 100% free of any banned substances. Based on years of research, MusclePharm products are created through an advanced six-stage research protocol involving the expertise of top nutritional scientists and field tested by more than 100 elite professional athletes from various sports including the NFL, MMA, and MLB. The Company's propriety and award winning products address all categories of an active lifestyle including muscle building, weight loss, and maintaining general fitness through a daily nutritional supplement regimen. MusclePharm is sold in over 120 countries and available in over 5,000 US retail outlets that include GNC, and Vitamin Shoppe, as well as over 100 online stores, including bodybuilding.com, Amazon and Vitacost.com. For more information, please visit www.musclepharm.com.
CONTACT: ICR
Investor Contact:
John Mills, Senior Managing Director
310.954.1105
Source: Globe Newswire (December 7, 2010 - 9:35 AM EST)
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Elephant Talk Announces Shareholder Update Conference Call
Dec. 7, 2010 (Marketwire) --
SCHIPHOL, THE NETHERLANDS -- (Marketwire) -- 12/07/10 -- Elephant Talk Communications, Inc. (OTCBB: ETAK) (the "Company") (http://www.elephanttalk.com/) an international provider of business software and services to the telecommunications and financial services industries announced that it will host a Shareholder Update conference call on December 14, 2010 at 11:00 a.m. EST. The call will discuss its recent agreement with Visa Europe, contracts with T-Mobile and Vizzavi Espana, a Vodafone Group company, and provide a detailed shareholder update.
Anyone interested in participating should dial 1-877-941-1427 if calling within the United States or 1-480-629-9664 if calling internationally approximately 5 to 10 minutes prior to 11 a.m. Participants should ask for the Elephant Talk Shareholder Update conference call. There will be a playback available until December 21, 2010. To listen to the playback, please call 1-877-870-5176 if calling within the United States or 1-858-384-5517 if calling internationally. Please use the pass code 4392349 for replay.
This call is being webcast by ViaVid Broadcasting and can be accessed at either Elephant Talk's website at www.elephanttalk.com or ViaVid's website at http://www.viavid.net. To access the webcast, you will need to have the Windows Media Player on your desktop. For the free download of the Media Player, please visit:
http://www.microsoft.com/windows/windowsmedia/en/download/default.asp
About Elephant Talk Communications
Elephant Talk Communications, Inc. (OTCBB: ETAK) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information visit: www.elephanttalk.com.
About ValidSoft
ValidSoft is a subsidiary of Elephant Talk Communications, Inc. (OTCBB: ETAK), and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft's solutions are at the cutting edge of the market and are used to verify the authenticity of both consumers and institutions (Mutual Authentication), and the integrity of transactions (Transaction Verification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive. For more information please visit www.validsoft.com.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Contact:
Elephant Talk Communications, Inc.
Mr. Steven van der Velden
Tel: + 31 20 653 59 16
Email Contact
Investors:
Alliance Advisors, LLC
Thomas P. Walsh
Tel: + 1 212-398-3486
Email Contact
Source: Marketwire (December 7, 2010 - 9:53 AM EST)
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Modern Precast Installs Easi-Set Buildings at Luna Park
Two Precast Concrete Restrooms Enhance Experience for Visitors at
Coney Island, N.Y.
Dec. 7, 2010 (Business Wire) -- Modern Precast Concrete® was recently awarded a $500,000 contract to install two customized precast concrete restrooms as part of a facilities upgrade at Luna Park in Coney Island, N.Y.
The company completed the installation of the two Easi-Set precast concrete Durarest Restroom buildings in May.
“Easi-Set buildings were chosen due to price, ease of customization and project timelines,” said Steve Grischott, Sales Representative of Modern Precast Concrete. “It was critical that the restrooms be delivered, installed and be operational before Memorial Day weekend so Luna Park could open to the public.”
Each customized building had a men’s room and a women’s room, plus a family restroom. Both buildings included ADA-compliant fixtures and a wooden truss hip roof that was made with fire-retardant wood trusses. Both buildings were delivered and completely set in a day and a half.
Easi-Set precast concrete buildings have been manufactured by Modern Precast Concrete since 1996. Fabricated as separate walls, roof, and floor panels, the buildings feature the patented Easi-Set post-tensioning system in the roof and floor, a turn-down roof that caps the walls, and a step-down floor panel to eliminate the possibility of water migration into the building along the bottom of the wall panels. Easi-Set buildings are virtually maintenance free, are available in a variety of sizes and finishes, and are fully customizable. They are typically assembled at the plant, delivered to the customer’s site and installed on a concrete slab or gravel pad in a matter of hours.
About Modern Precast Concrete
Since 1946, Modern Precast Concrete, located in Ottsville and Easton, Pa, offers a broad range of precast concrete products for use in construction, utilities, and transportation industries. Modern Precast Concrete is committed to its customers by offering innovative solutions at competitive prices. For information, please call (610) 847-5112 or visit www.modcon.com
Easi-Set Industries
Corrie Cunningham, 540-341-7868
cunningham.corrie@gmail.com
Source: Business Wire (December 7, 2010 - 10:00 AM EST)
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Ford and Azure Dynamics Mark Production and Delivery of First Transit Connect Electrics
Dec. 7, 2010 (PR Newswire) --
DEARBORN, Mich., Dec. 7, 2010 /PRNewswire/ --
Ford Motor Company and Azure Dynamics mark early production and first deliveries of Transit Connect Electric vans to early customers
Some initial units of the Transit Connect Electric commercial van are headed to the United Kingdom as part of the government's Ultra-Low Carbon Vehicle Demonstrator program
The all-electric, zero-emission Transit Connect Electric has a targeted range of up to 80 miles per full charge, and is ideal for fleet owners with well-defined routes of predictable distances and a central location for daily recharging
The Transit Connect Electric is the first of five new electrified vehicles Ford will bring to market in the next two years including the Focus Electric, two next-generation hybrids and a plug-in hybrid
Ford Motor Company (NYSE: F) and Azure Dynamics have begun shipping the first Ford Transit Connect Electrics to early customers in North America and to the United Kingdom for a demonstration project.
The all-electric commercial vans, built on the Ford Transit Connect vehicle body, equipped with Azure Dynamics' patented Force Drive™ battery electric powertrain, and assembled by AM General at its facility in Livonia, Mich., are reaching the market 13 months after the collaboration to develop the zero-emission vehicle was first announced.
To date, all initial units have designated customers. Azure Dynamics' LEAD customer program includes seven companies that are taking delivery of their first units in 2010, with the remainder of their orders to be filled in 2011. Customers that have been previously announced include AT&T, Southern California Edison, Xcel Energy, Johnson Controls Inc., New York Power Authority, Canada Post and Toronto Atmospheric Fund EV300. Additional LEAD customers will be identified by the end of the year.
Ford first announced the collaboration in October 2009, with an agreement for Azure Dynamics to upfit the Transit Connect van with Azure's Force Drive battery electric drivetrain technology including Johnson Controls-Saft's advanced lithium-ion battery, and a commitment to deliver the initial vehicles by the end of 2010 to the North American market. Initial production began in the fourth quarter of 2010 with full production of the Transit Connect Electric slated to ramp up in April 2011.
"Supplier collaboration is important on all Ford product programs, but it was especially key in this effort, which went from contract signing to vehicle production in 13 months," said Sherif Marakby, Ford director, Electrification Programs and Engineering. "A strong teamwork environment established by Azure and Ford was critical to delivering this vehicle."
"The Transit Connect Electric program is a great representation of our product development approach," said Scott Harrison, CEO, Azure Dynamics. "We have been able to focus on integration of our Force Drive powertrain solution and benefit from Ford's expertise in building ground-up global vehicle platforms. Meanwhile, capital costs are kept in check by contracting AM General for labor and assembly services – an area where the company excels. Transit Connect Electric is a revolutionary technology and achieving our aggressive time line is a testament to the professionalism and spirit of cooperation among all the project partners."
The Michigan Economic Development Corporation provided incentive funding for Azure Dynamics to encourage selection of a Michigan-based partner for final assembly. Azure chose AM General LLC, to produce the Transit Connect Electric in its facility in Livonia, Mich.
AM General, a long-established contract vehicle assembler and services provider, is responsible for final upfit of the Transit Connect Electric.
Transit Connect Electric is the first product in Ford's accelerated electrified vehicle plan, and will be followed by the Focus Electric passenger car in 2011, along with a plug-in hybrid electric and two next-generation lithium-ion battery-powered hybrid vehicles in 2012.
Ultra-Low Carbon Vehicle Demonstrator program
In addition to delivery of units to LEAD customers in North America, the Transit Connect Electric commercial van is headed to the United Kingdom, where 14 of the vehicles will take part in the government's Ultra-Low Carbon Vehicle Demonstrator program. The program, supported by Scottish and Southern Energy, utilizes a fleet of zero-emissions vehicles for the energy company, with designated drivers to test vehicle and infrastructure technology.
The consortium of Ford, Scottish and Southern Energy and the University of Strathclyde will provide Transit Connect Electric vehicles and a charging infrastructure in and around the London suburb of Hillingdon during 2010 and 2011.
Ford and Azure Dynamics already have announced they will collaborate to produce the Transit Connect Electric for the European market with first units to be delivered in 2011.
Designed with fleet users in mind
The all-electric, zero-emissions Transit Connect Electric has a driving range of up to 80 miles per full charge and is ideal for fleet owners who have well-defined routes of predictable distances and a central location for daily recharging. Delivery fleet and utility vehicle operators have begun to show a preference for smaller, more efficient vehicles, which creates an ideal time for Transit Connect Electric to come to market.
"The Transit Connect provides a unique choice for the fleet owner who wants the convenience of a utility vehicle," Marakby said. "The electric version takes that one step further, delivering a dependable, zero-tailpipe-emission vehicle that requires no petroleum."
Owners will have the option of recharging Transit Connect Electric with either a standard 120-volt outlet, or preferably a 240-volt charge station, typically installed at the user's base of operations for optimal recharging in six to eight hours. A transportable cord that works with both types of outlets will be available for convenient recharging at either voltage.
The vehicle's charge port is located above the passenger-side rear wheel well. The onboard liquid-cooled 28-kilowatt-hour lithium-ion battery pack is charged by connecting the charge port to a power outlet. Inside the vehicle, an onboard charger converts AC power from the electric grid to DC power to charge the battery pack.
Transit Connect Electric is expected to offer lower cost of operation, because charging with electricity is generally less expensive than fueling with gasoline.
When the vehicle is operating, battery power is provided to the drive motor through the electric powertrain's motor controller. The motor controller uses throttle input from the driver to convert DC power supplied by the battery into three precisely timed signals used to drive the motor. The onboard DC/DC converter allows the vehicle's main battery pack to charge the onboard 12-volt battery, which powers the vehicle's various accessories, such as headlights, power steering and coolant pumps.
In Transit Connect Electric, the battery pack has been efficiently integrated without compromising interior passenger room and cargo space. The Johnson Controls-Saft battery pack is expected to last the life of the vehicle.
First in Ford's overall electrified vehicle strategy
The electrification strategy builds on Ford's vision for bringing affordable technology to millions. It takes advantage of rapid advancements in electrified vehicle technology – particularly lithium-ion batteries – while leveraging the scale of global vehicle platforms to bring the cost of new technology down.
About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 163,000 employees and about 70 plants worldwide, the company's automotive brands include Ford, Lincoln and Mercury, production of which has been announced by the company to be ending in the fourth quarter of 2010. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) (OTC: AZDDF) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with various partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. For more information please visit www.azuredynamics.com.
About AM General
AM General designs, engineers, manufactures, supplies and supports specialized vehicles for commercial and military customers. The AM General business units also include two wholly-owned subsidiaries, General Engine Products, a diesel engine manufacturer, and General Transmission Products, an automatic transmission manufacturer. As creator and manufacturer of the famous HMMWV (HUMVEE ®) and HUMMER ® H1 andH2 vehicles, AM General has more than six decades of experience meeting the changing needs of the defense and automotive industries supported by approximately 2,500 employees at major facilities in Ind., Mich., and Ohio and a strong supplier base that stretches across 43 states. More information can be found at www.amgeneral.com.
SOURCE Ford Motor Company
Source: PR Newswire (December 7, 2010 - 10:00 AM EST)
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WikiLoan November Card Update
Dec. 7, 2010 (PR Newswire) --
LOS ANGELES, Dec. 7, 2010 /PRNewswire/ -- WikiLoan, Inc. (OTC Bulletin Board: WKLI), a financial social network, today announced that it received purchase orders for more than 131,000 WikiCash phone cards in the month of November, which represents almost $200,000 in revenue that is scheduled to be booked in the fourth quarter.
WikiLoan will launch the new and improved WikiLoan website in the coming days.
Edward C. DeFeudis, WikiLoan Co-founder, said, "We have been testing the new website and features, and are greatly anticipating the launch. It has a strong brand and communicates with the public more effectively. Immediately upon landing on the site, consumers will know why and how to use the WikiLoan platform. This should translate into some traction for the core business."
About WikiLoan
WikiLoan is a Social Network with a focus on finance. At WikiLoan.com, family and friends can borrow and lend money among themselves at rates suitable to their respective needs. The company's website provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
Investors may contact:
Ben Hansel
(720) 288-8495
benh@ttfsco.com
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company's products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
SOURCE WikiLoan, Inc.
Source: PR Newswire (December 7, 2010 - 10:07 AM EST)
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FCStone Canada Announces Energy Risk Management Seminar, Calgary, Dec 9th
Dec. 7, 2010 (TheNewswire.ca) --
WHAT: FCStone Canada ULC, a part of International Assets Holding Corporation (INTL)(Nasdaq:IAAC), is hosting its first seminar in Calgary entitled "Advantages to Producer Hedging with FCStone -- Risk Management, Hedging Strategies and Execution". A cocktail reception will follow to celebrate the opening of the new FCStone Calgary office, which will provide energy risk management services and financially settled OTC energy products to oil and gas producers, operators, refiners, and commercial end-users.
WHEN: December 9, 2010, at 3:00 pm.
WHERE: The Fairmont Palliser Hotel, 133-9th Avenue SW in Calgary.
AGENDA: The seminar will feature an overview of FCStone Canada ULC, the commodity markets, and the spectrum of financial instruments used for hedging to be presented by Frank Kelton, Vice President/Risk Management Consultant. There will be a special presentation on Product and Counterparty Risk - presented by Todd Schlaht, Director Products and Services, CME Group. The seminar will end with "Know Risk" a comprehensive integrated risk management program presented by John Snell, Principal RMI, Risk Management Incorporated.
Persons interested in attending the event can contact:
Frank Kelton
Vice President/Risk Management Consultant
FCStone Canada ULC
www.fcstone.com
Direct 403-538-4796 Cell 403-818-3188
Fax 403-265-8875
Frank.Kelton@FCStone.com
#3000, 150 - 6th Avenue SW,
Calgary, AB T2P 3Y7
About International Assets Holding Corporation
International Assets Holding Corporation (INTL) provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through a network of offices in eleven countries around the world. Further information on INTL is available at www.intlassets.com.
Forward Looking Statements
This press release includes forward-looking statements including statements regarding the combined company. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to International Assets Holding Corporation, are intended to identify forward-looking statements.
These forward-looking statements are based largely on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the combined company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by International Assets with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. International Assets undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements.
Copyright (c) 2010 Thenewswire.ca - All rights reserved.
Source: TheNewsWire (December 7, 2010 - 10:33 AM EST)
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RTG Ventures, Inc.'s New Commercial Director for iPayu Outlines Strategy
Dec. 7, 2010 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 12/07/10 -- RTG Ventures, Inc. (OTCBB: RTGV) has appointed Jasper Dalgliesh, a senior executive with experience in both corporate and entrepreneurial mobile and telecommunications sectors, to the position of Consultant, Commercial Director for its Payment Systems Division. Prior to joining RTG Ventures, Dalgliesh's global role with Vodafone, AT&T, Global Crossing and T-Mobile was to leverage technology for commercial advantage to increase revenues and market share. He has also served as a commissioned officer in the British Army with the Life Guards and as a helicopter pilot in the Army Air Corps. Dalgliesh holds an MBA from Cranfield University.
As Commercial Director, Payment Systems Division, Dalgliesh assumes responsibility for launching iPayu, RTG Ventures' first product in its roll-out of disruptive technologies. iPayu is a mobile payment system built on a robust and proven banking software suite that offers revolutionary methods of making, taking and distributing payments. iPayu has numerous commercial applications for both front and back end payments where low transaction costs, 100% security and real-time transparency are mission critical.
Outlining the Payment Systems Division's strategy, Dalgliesh said: "Our development strategy is designed to maximize return on investment from the technology as we scale towards becoming a fully operating e-money provider. We're packaging iPayu into market specific applications that need to meet two criteria: they must address a real need right now and they must bring blocks of end-users into the system.
"Our first application is targeted at e-commerce sites with large numbers of affiliates and the test bed for this application is one of our own companies, Audigist.com, which sells downloadable MP3 tracks on behalf of independent artists. The compelling need is making multi-currency account management and artist royalty settlement more efficient as music is sold. Audigist brings 800 artist accounts to iPayu and the site is growing all the time.
"Right now, artists earn a percentage of the sale price which they are able to request by UK bankers check on a quarterly basis. But, writing out bankers checks for so many artists is costly, hugely inefficient and not artist-friendly as 60 per cent of the artists on Audigist.com are based outside the UK. They have to pay huge fees to cash those checks. With iPayu plugged in, each artist will be set up with an iPayu account, so we get 800 new users into iPayu and the artists will see their royalties appear in their iPayu accounts in real time. They will be able to withdraw their funds on demand, direct to their bank, and there will be no need for Audigist.com to operate manual payment runs, saving significant amounts of both time and money. In addition, Audigist.com will be the only company of its type offering real-time redemption giving it a huge competitive advantage when it comes to signing up new artists."
RTG Ventures estimates that there are 1,000 other relevant download sites of a similar nature that could also benefit from integrating iPayu technology and Dalgliesh also cites any ecommerce company operating its own affiliate scheme as an ideal target customer for this first application. iPayu's revenue model with this application is based on a monthly subscription and a per transaction charge to the business customer.
Dominic Hawes-Fairley, RTG Ventures' Chief Executive Officer & President, added: "Jasper is already focused on revenue generation in the short term, while identifying development milestones going forward. This appointment completes the company's senior operating team and growth, growth, growth is the watchword for all."
ABOUT RTG VENTURES, INC.
RTG Ventures, Inc. is a NASDAQ BB listed company (OTCBB: RTGV) offering a turnkey media monetization solution to rights owners of music video content. At the heart of RTGV's total product offering is a Monetization Platform which allows rights owners to define and tag media content in detail, set and enforce rights management and distribution rules, receive payment on distribution and obtain detailed analytics in real time.
RTG Ventures is organized as three divisions: Media Systems, Payment Systems and Software and Services, each of which contains both wholly-owned companies and joint ventures with independent business plans, strategies and management. In addition to servicing their discrete markets, these companies all contribute to RTG Ventures' total product offering for media rights owners. For further information, see http://www.rtgventures.com.
SAFE HARBOR PROVISIONS
The foregoing contains certain predictive statements that relate to future events or future business and financial performance. Such statements can only be predictions, and the actual events or results may differ from those discussed due to, among other things, those risks described in RTGV's reports filed with the SEC. Opinions expressed herein are subject to change without notice. This document is published solely for information purposes, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities in any state. Past performance does not guarantee future performance. Additional information is available upon request.
Source: Marketwire (December 7, 2010 - 11:11 AM EST)
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Car Charging Group and The Norwalk Parking Authority Join Forces to Bring Electric Vehicle Charging Stations to Norwalk, Conn.
A First in Municipal Parking Areas in Fairfield County, Conn.
Dec. 7, 2010 (GlobeNewswire) --
MIAMI BEACH, Fla. and NORWALK, Conn., Dec. 7, 2010 (GLOBE NEWSWIRE) -- Car Charging Group Inc. (OTCBB:CCGI) today announced it has joined forces with the City of Norwalk and the Norwalk Parking Authority (NPA) to help residents prepare for the use of electric vehicles (EV) with the installation of EV charging stations in three municipal garages in Norwalk in Fairfield County, Connecticut. These are the first EV car charging stations to be installed in any municipal parking area in Fairfield County, CT.
"We are proud to be the first in the region to install car chargers in our public parking areas, improving resources and options for motorists to use alternative vehicles and minimize Norwalk's carbon footprint as we move towards becoming a greener city," said Mayor Richard Moccia.
Car Charging Group will install Level II ChargePoint® Networked Charging Stations for EVs which are manufactured by Coulomb Technologies. The 7.2 kW output delivers Level II (208/240 VAC @ 30 A) charging via the standard SAE J1772™ connector and fixed 18-foot cable. The 2 kW output delivers Level I (120 VAC @ 16 A) charging via a standard NEMA 5-20 receptacle protected behind a locking door. Both outputs can deliver energy simultaneously.
The Norwalk Parking Authority, an enterprise fund, is responsible for the operations and maintenance of the city's municipal parking system, consisting of four parking structures, six surface lots and on-street parking. The car chargers are part of the Norwalk Parking Authority's commitment to making operations more sustainable. Other recent green initiatives include the installation of solar powered pay stations, environmentally friendly lighting at all Norwalk Parking Authority garages and the use of a T3 scooter for security at the South Norwalk railroad station which costs only 10 cents per day with little or no maintenance compared to using a gas truck.
"Our goal is to assist businesses, residents and visitors with their parking needs. With the impending arrival of the first electric cars from mainstream companies, drivers will be on the hunt for a charging station, not a gas station, and the Norwalk Parking Authority is preparing to open a wave of charging stations over the next year to meet their needs," says John Federici, Chairman of the Norwalk Parking Authority.
All ChargePoint networked EV charging stations are managed by the ChargePoint® Network and provide EV drivers the ability to locate and navigate to the charging station from any smart phone and the ability to detect charging station availability from a smart phone or Google Maps. The ChargePoint Network also facilitates EV trip mapping, driver billing, 24/7 driver assistance, and greenhouse gas and energy savings (kWh) measurement.
A recent report, "Electric Vehicle Charging Equipment," estimates that there will be 4.7 million residential, public, private and workplace charging stations installed globally during the period from 2010 to 2015. And in the U.S., there will likely be almost one million charging stations by 2015.
"We are currently working with forward-thinking businesses, property owners and municipalities across the nation to build out the necessary infrastructure to support the mass adoption of EVs," said Car Charging Group CEO Michael D. Farkas. "We envision a vast network of charging stations that will make designated electric vehicle spots as ubiquitous as handicapped spaces in the near future."
About Car Charging Group, Inc.
Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle charging units and works with its landowner partners to identify appropriate locations for its charging stations. The Company provides convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls and parking garages.
An estimated 40 million plug-in electric vehicles, such as the Nissan Leaf, GM Chevy Volt, Fisker Karma, Tesla Model S as well as many others, are expected to be on the road by 2030. Car Charging Group and other companies in the EV industry realize the need to establish charging station networks throughout the transportation infrastructure to provide easy access to energy everywhere drivers live and work. By investing at the forefront of the electric car revolution, Car Charging Group seeks to become the leading provider of electric car charging services. The Company launched its operations nationally in September of 2009 and is expanding its operations internationally.
Car Charging Group, Inc. is based in Miami, Florida. The Company's website can be viewed at www.carcharging.com.
About The Norwalk Parking Authority
The Norwalk Parking Authority is a financially self-sustaining organization responsible for the operation and maintenance of the municipal parking system in Norwalk. The Authority is committed to collaborating with community organizations while providing exceptional customer service to parking customers. The Norwalk Parking Authority can be reached at (203) 831-9063 or at the web site at www.norwalkpark.org.
Forward-Looking Safe Harbor Statement:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Those statements include statements regarding the intent, belief or current expectations of Car Charging Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed.
CONTACT: Car Charging Group, Inc.
Press Contacts:
Joanne Kaniewski
201.465.8019
jkaniewski@beckermanpr.com
Investor Relations
305-521-0150
Norwalk Parking Authority
Carolyn Ripp
203.852.1261 , x 107
cripp@snydergroupinc.com
Source: Globe Newswire (December 7, 2010 - 10:47 AM EST)
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Prime Equity Research Initiates Analyst Coverage of Mikros Systems
Dec. 7, 2010 (PR Newswire) --
PRINCETON, N.J., Dec. 7, 2010 /PRNewswire/ -- Mikros Systems Corporation (OTC Bulletin Board: MKRS), specializing in engineering and contract manufacturing for the U.S. Navy and Department of Homeland Security, announces that Prime Equity Research has initiated coverage of the Company.
The independent analyst report provides a description of Mikros Systems' defense business and presents the results of an analysis of the Company's present performance and the analyst's assessment of future performance. Also included is the fact that, during this past year, Mikros has been awarded more than $27M in new contracts.
The independent analyst with Prime Equity Research is a Certified Financial Analyst (CFA) in accordance with the CFA Institute Code of Ethics and Standards for Professional Conduct. Mikros engaged Prime Equity Research and paid for the services prior to the commencement of work by Prime Equity. To review a copy of the report, please visit and subscribe to the Prime Equity Research website at www.primeequityresearch.com, and search "Mikros."
About Mikros
Mikros Systems Corporation is an advanced technology company specializing in the research and development of electronic systems technology primarily for military applications. Classified by the U.S. Department of Defense as a small business, its capabilities include technology management, electronic systems engineering and integration, radar systems engineering, combat/command, control, communications, computers and intelligence systems engineering, and communications engineering. Mikros' primary business is to pursue and obtain contracts from the Department of Homeland Security, U.S. Navy, and other governmental authorities. For more information on Mikros visit: www.mikrossystems.com
Important Information about Forward-Looking Statements: All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, a decline or redirection of the U.S. Defense budget, the termination of any contracts with the U.S. Government, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-K for the year quarter ended December 31, 2009 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date hereof.
About Prime Equity Research
Prime Equity Research is a fee-based, independent research company, enabling under-covered small or micro-cap publicly traded company's unbiased, fee-based coverage by third party analysts. Prime Equity Research and its clients have no influence on the independent analyst's views, opinions and ratings as the assigned analyst is paid in advance. Prime Equity research and all analysts are also prohibited in owning, trading or dealing in the covered company's shares and are never compensated with the covered company debt or equity.
Important Information about Forward-Looking Statements: All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, a decline or redirection of the U.S. Defense budget, the termination of any contracts with the U.S. Government, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-K for the year ended December 31, 2009 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE Mikros Systems Corporation
Source: PR Newswire (December 7, 2010 - 12:14 PM EST)
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Supatcha Provides Update on NI 43-101 Technical Report
Dec. 7, 2010 (PR Newswire) --
DENVER, Dec. 7, 2010 /PRNewswire-FirstCall/ -- Supatcha Resources Inc. (OTC Bulletin Board: SAEI) ("Supatcha" or the "Company") today announced it has received all necessary paperwork today in order to file the NI 43-101 technical report for the Barlevskoye and Vynohradiv gold projects. The NI 43-101 will be filed no later than December 09, 2010 at 6:00 a.m. EST.
In addition, Supatcha is preparing a series of updates that will be released in the coming weeks as part of its Investor Awareness Program. Updates on the company via news releases, the website, newsletter programs and conference calls will facilitate timely updates to current and potential investors. Investors are encouraged to sign onto the company site and register for the newsletter mailing list, to be included in this program.
http://www.supatcharesources.com/signup.htm
About Supatcha Resources Inc. (OTCBB: SAEI)
Supatcha Resources Inc. is a gold exploration company focused on acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of acquiring two additional gold mining projects, with world-class potential, in southwestern Ukraine.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the last reported fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
http://www.supatcharesources.com
SOURCE Supatcha Resources Inc.
Source: PR Newswire (December 7, 2010 - 12:16 PM EST)
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Alamogordo Financial Corp. Declares Dividend
Dec. 7, 2010 (Business Wire) -- Karlon Cox, President of Alamogordo Financial Corp. (OTCBB: ALMG) (CUSIP number 011448107) today announced that the Company has declared a cash dividend of $ 0.35 per share on the Company’s common stock for the fiscal quarter ended September 30, 2010. The dividend will be payable to stockholders of record as of December 21, 2010, and will be paid on January 12, 2011.
Alamogordo Financial Corp. is the parent corporation for BANK’34, a federally chartered savings association headquartered in Alamogordo, New Mexico. BANK’34’s deposits are insured by the Federal Deposit Insurance Corporation.
Alamogordo Financial Corp.
Karlon Cox, 575-437-9334
karlon.c@bank34online.com
Source: Business Wire (December 7, 2010 - 12:17 PM EST)
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Voice Assist and Jabra Now Available on Salesforce.com AppExchange 2, The World's Most Popular Marketplace for Business Apps
Salesforce CRM customers can now verbally update account records or listen to and post to Chatter, hands-free!
Dec. 7, 2010 (PR Newswire) --
SAN FRANCISCO, Dec. 7, 2010 /PRNewswire/ -- DREAMFORCE 2010 -– Voice Assist (OTC Bulletin Board: MUEX) and Jabra today announced the availability of Voice Assist on AppExchange 2. Utilizing the Jabra EXTREME Bluetooth® headset and Voice Assist software, every sales person can now communicate in real-time and update Salesforce CRM records by voice or even listen to or post to Salesforce Chatter – all hands-free.
Jabra, a world leader in innovative headset solutions, delivers a range of easy-to-use devices that work seamlessly with Chatter to provide sales people and consumers everywhere with a truly hands-free collaborative lifestyle. Voice Assist empowers the mobile workforce to update Salesforce CRM records, post to Chatter, dial, e-mail and text all by using simple voice commands using a Jabra headset. Mobile workers now have the option to talk to update Salesforce CRM, Chatter or other social networks like Facebook and Twitter. The combination of a noise cancelling headset from Jabra and Voice Assist software is the ideal solution for busy salespeople who are driving and need to keep their hands on the wheel and their eyes on the road.
Built using Force.com, the enterprise cloud computing platform, Voice Assist with a Jabra EXTREME headset is immediately available for a test drive and deployment on AppExchange 2 at http://www.voiceassist.com.
In today's busy sales environment, there is usually a post-meeting urgency for sales people to update Salesforce CRM records and communicate and collaborate with their peers. Now mobile salespeople can immediately update Salesforce by simply pressing a single button and using their voice. With Jabra and Voice Assist, a sales person can jump into their car and communicate in real-time, hands-free, and Chatter with their business associates.
"Salespeople rely on tools that not only help them communicate better and easier, but also improve productivity and the ability to multi-task," said Mogens Elsberg, CEO, GN Netcom. "The Jabra EXTREME addresses all of those needs, providing an easy-to-use, hands-free solution that allows the mobile workforce to stay in touch - both professionally and personally - while on the road."
"Data is now the conversation," said Michael Metcalf, CEO, Voice Assist. "With Voice Assist being the voice inside the application, sales people can now work efficiently and effectively, hands-free in their cars and while they're on the road. With this product offering, mobile salespeople can do almost anything by voice that they would normally do at their desks with a keyboard."
"The combination of Jabra and Voice Assist is a great example of the real-time collaborative advances for professionals on the road," said Kendall Collins, chief marketing officer, salesforce.com. "Dreamforce is the ideal place to showcase innovations like these where thousands of people are looking for ways to further realize success with cloud computing."
Dreamforce is the industry's leading global cloud computing event focused on inspiring customer, partner and developer success with cloud computing. Attendees will learn how to maximize their current investments and explore new offerings across Salesforce Chatter, Sales Cloud, Service Cloud, Force.com and more. Over the past 10 years the cloud computing economy has radically changed the way companies operate. Now as we enter the next phase, cloud computing is becoming inherently social, real time and mobile. Dreamforce is where this transition is happening with hundreds of salesforce.com partners exhibiting the latest cloud offerings, as well as training sessions, seminars and breakout sessions.
About the Force.com Platform and AppExchange 2
Force.com is the only proven enterprise platform for building and running business applications in the cloud. The Force.com platform powers the Salesforce CRM (http://www.salesforce.com/) applications, more than 1,000 ISV partner applications like those from CA Technologies, FinancialForce.com and Fujitsu, and 185,000 custom applications used by salesforce.com's 87,200 customers such as Japan Post, Kaiser Permanente, KONE and Sprint Nextel. Force.com also enables developers to make any enterprise app social by leveraging the social collaboration components including profiles, status updates, and real-time feeds available with Chatter.
Applications built on the Force.com platform can be easily distributed to the entire cloud computing community through the salesforce.com AppExchange 2 marketplace http://www.salesforce.com/appexchange/, now featuring the ChatterExchange.
About GN Netcom
Through its Jabra brand, GN Netcom is a world leader in innovative headset solutions. With around 850 employees and sales offices around the world, GN Netcom develops and markets a broad range of wireless headsets and in-car speakerphones for mobile users and both wireless and corded headsets for contact center and office-based users. GN Netcom is a subsidiary of GN Store Nord A/S.
For further information on the company, please visit www.jabra.com.
About Voice Assist
Headquartered in Lake Forest, Calif., Voice Assist speech enables mobile applications and services. Voice Assist is a hosted platform for developing and deploying voice controlled mobile applications and services. It includes a fast and safe way to make calls, manage your e-mails, send text messages and post to Social networks such as Facebook, Twitter and Chatter by voice commands. The Voice Assist Platform provides a scalable solution for developers to add voice into any application.
For more information on the company, visit http://www.voiceassist.com.
SOURCE Voice Assist
Source: PR Newswire (December 7, 2010 - 12:27 PM EST)
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Gowest Finds Presence of Significant Parallel Gold-Bearing Structures at Its Frankfield East Gold Deposit Near Timmins, Ontario
Dec. 7, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 12/07/10 -- Gowest Amalgamated Resources Ltd. ("Gowest" or the "Company") (TSX VENTURE: GWA)(OTCBB: GWSAF) is pleased to announce further updates from its ongoing geological and deep drilling program at the Frankfield East Gold Deposit near Timmins, Ontario.
-- Detailed geological interpretations in advance of an updated resource
estimate are almost complete and demonstrating the presence of multiple
parallel gold-bearing structures throughout much of the Frankfield East
deposit. When combined with gold contained within the deposit's Main
Zone these additional lenses offer the opportunity for significant
increases in resource potential over equivalent vertical and horizontal
distances.
-- Recently completed deep drill hole GW10-60WA cut a total of 9.5m of 7g/t
gold at a vertical depth of 750-830m in four distinct parallel
structures (see Table 1 below).
-- Considered in context alongside hole GW10-46, which cut 10m of 6.5g/t
(see Aug 4th news release for details) at 630m vertical depth it appears
that the mineralised alteration zones in the eastern portion of the
deposit have widened significantly at depth. The presence of these broad
zones of alteration may indicate that the mineral structure opens and
plunges eastward.
-- The presence of significant multiple parallel gold bearing structures at
the Frankfield East deposit offers the characteristics of a significant
gold deposit, similar to established gold mines in the Timmins area. The
majority of the mines in the nearby prolific Porcupine area are made up
of multiple gold bearing structures at depth within defined alteration
envelopes.
Table 1. Deep hole GW10-60WA drilling results - Frankfield East gold deposit
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Hole No. Depth (m) Interval (m) Grade (g/t gold)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
GW10-60WA 755.5-757.5 2 8.8
775.5-777.0 1.5 4.1
790.3-793.3 3 7.6
829.0-832.0 3 6.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total (avg.) 9.5 7.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Gowest Gold's exploration group have been active in the preparation of geological interpretations for the Frankfield East deposit, defining the continuity of the gold-bearing structures between drill holes, serving as the basis for the company's new resource estimate presently slated for release in Q1-2011. Previous drill results released from the 2010 Frankfield drill program have focussed primarily on the Main Zone of mineralization located next to the shear zone contact that passes south of the deposit.
Recent interpretations have demonstrated that the Main Zone is only one of a series of parallel gold-bearing structures that appear to be present throughout most of the deposit. Depending on the location, one to four distinct gold zones have now been identified.
Figure 1 illustrates a section of the eastern portion of the deposit showing the "typical" gold distribution. In addition to the presence of multiple mineralised zones, results from drilling completed on the eastern portion of the Frankfield deposit has demonstrated that the width of the mineralised rock alteration zone appears to be increasing at depth. In addition to being the deepest intersections ever drilled at site, the multiple gold structures displayed in hole GW10-60WA are very profound and separated by sufficient distances to allow for mining effectively as distinct zones. Additional drilling is planned in this area to test the continuity of the multiple gold-bearing horizons and also to explore an apparent easterly plunge of the deposit.
To view Figure 1 - Frankfield East Gold Deposit Easterly Cross Section Interpretation, please visit the following link:
http://media3.marketwire.com/docs/gowest_amalgamated_fig01_dec07.pdf
"The success of the deep drilling at Frankfield East continues to demonstrate the potential to define a multi-million ounce gold deposit. In addition, the results coming from the group's ongoing geological interpretations are extremely promising. If the current interpretations continue to be supported as the drill program continues, Frankfield could turn out to be one of the most significant new gold deposits discovered in an entirely undeveloped area of the Timmins camp in recent years." stated Greg Romain, President & CEO of Gowest Gold. "With an updated resource study based on our successful 2010 drill campaign expected in Q1-2011 and the initiation of a more aggressive expansion and infill drilling program planned for 2011, we believe this is an excellent time to be a Gowest shareholder."
Qualified Person
This press release has been reviewed by Mr. Darren Koningen, P. Eng., Gowest's Vice President of Technical Services. Mr. Koningen is a Qualified Person under National Instrument 43-101.
All drill core samples were photographed prior to being split and logged. Sample intervals were determined based on geological context and varied in length from 0.3 - 1.5m. Half of the split core from each interval was bagged and delivered to the ALS Laboratory Group ("ALS") preparation facility located in Timmins, Ontario. All samples were prepared by ALS and analyzed for gold using fire assay procedures with an Atomic Adsorption Spectroscopy ("AAS") finish in addition to the completion of a multi-element ICP-AES scan. ALS's main North American assay laboratory in Vancouver, British Columbia is accredited to ISO/IEC 17025:2005.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Frankfield East gold deposit. Gowest is exploring additional gold targets on the Frankfield land package and continuing to evaluate acquisition targets in the vicinity of the Frankfield project area, part of the prolific Timmins, Ontario gold camp.
Forward-looking statements
This news release contains certain "forward looking statements". Such forward-looking statements involve risks and uncertainties. The results or events depicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
Contacts:
Gowest Amalgamated Resources Ltd.
Greg Romain
President & CEO
(416) 363-1210
info@gowestgold.com
Gowest Amalgamated Resources Ltd.
Rory Quinn
Investor Relations
Toll Free: (877) 363-1218 or (416) 363-1210
Source: Marketwire (December 7, 2010 - 12:34 PM EST)
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Sionix Corporation Engages EcoFin Consulting to Lead Corporate Communications Program
Dec. 7, 2010 (Marketwire) --
SANTA MONICA, CA -- (Marketwire) -- 12/07/10 -- Sionix Corporation (OTCBB: SINX), designer of innovative and patented, advanced mobile water treatment systems, has engaged EcoFin Consulting to lead a new corporate messaging and public communications program.
After a difficult and challenging year, Sionix is ready to move forward into its next chapter. The milestones the Company has overcome this year are significant and have prepared Sionix for future growth and success. Management is confident that now is the time to introduce and implement a more comprehensive and timely communications program for their community of interest holders. This program will include current events, education, positioning, and industry and market reference points.
EcoFin will collaborate with Sionix management to define the Company's message, develop a comprehensive branding strategy, and identify media channels to properly convey the Company's message and strategy. Growing public awareness of a looming environmental crisis demands a more proactive role from responsible corporate citizens to promote real solutions to real problems. The management team has made several key, transformative steps over the past year to leverage these market forces and advance the commercialization of Sionix's patented water treatment technology.
Water is not a renewable resource -- recycling water contaminated by industrial, commercial, and agricultural pollutants is the Company's mission. Global water consumption is expected to double every 20 years; by 2020, 45 countries on the planet are expected to exhaust their water resources; the western part of the United States could be severely water challenged; and water demand is projected to overrun supply in excess of 30 percent by 2040. The Company's technology represents a proven solution to this global crisis which has already begun. The global community requires the delivery of this message to a broader audience. Sionix' shareholders expect it; fellow global citizens demand it.
About EcoFin Consulting LLC
Based in Irvine, CA, EcoFin Consulting provides public relations, capital market navigation and investor relations to private and public micro-cap cleantech companies, both domestic and international. EcoFin delivers superior performance in corporate messaging, investor awareness, capital attraction, and analyst and financial press coverage. For more information about EcoFin Consulting, visit www.ecofinconsulting.com.
About Sionix Corporation
Based in Santa Monica, CA, Sionix designs innovative and advanced water treatment systems intended for use in defense, government facilities, emergency water supplies during natural disasters, housing development projects, and various industrial processes including subterranean fracturing used in oil and gas drilling. These systems are located adjacent to contaminated water sites thus reducing cost and toxic exposure and can be used to remove organic materials including oil, waste and other infectious bacteria from contaminated resources. They can be also used as pre-treatment for reverse osmosis and other membrane applications. Industries involved in dairy, agribusiness, meat processing, mining, poultry operations, and many others can benefit from Sionix's cost-effective, easily maintained, portable water treatment systems. For more information about the company, go to www.sionix.com.
About Sionix Technology
Using a patented dissolved air flotation (DAF) technology packaged in a mobile shipping container, air bubbles between the size of 1 and 2 microns are injected and float organic contaminants to the surface where 99.95% are skimmed off. This compares to standard DAF units which historically have been limited to using bubble sizes of 50 microns or larger. The size of these bubbles is important because the smaller the bubble, the greater the surface tension and the greater the electrical charge. They can then hold together longer and elevate more organic contaminants to the surface for removal.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. Sionix' recent financial results, risks and uncertainties are discussed in its Annual Report on Form 10-K for the fiscal year ended September 30, 2009 and in current reports filed since that date with the Securities and Exchange Commission, all of which are available for review at www.sec.gov.
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Company Contact
David R. Wells
President and CFO
(847) 235-4566
Email Contact
Investor Relations Contact
Scott Kitcher
President
EcoFin Consulting LLC
(949) 435-2056
Email Contact
Source: Marketwire (December 7, 2010 - 12:41 PM EST)
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CDEX's ValiMed G4 System Featured at the 45th Annual ASHP Midyear Conference
Fourth Generation ("G4") System Features Multi-Compound Measurement Capabilities
Dec. 7, 2010 (Marketwire) --
TUCSON, AZ -- (Marketwire) -- 12/07/10 -- CDEX Inc. (OTCBB: CEXI) (www.cdexinc.com), a leading developer of chemical detection products, using patented technologies, for use in healthcare and security markets, announced the Company will exhibit its proprietary ValiMed G4 multi-component medication and narcotic detection system, at the 45th Annual Midyear ASHP Clinical Meeting and Exhibition. The ASHP conference is being held at the Anaheim Convention Center in Anaheim, California December 6-8, 2010. The ValiMed G4 system will be featured at booth 1908 at the conference.
The fourth generation of the ValiMed Validation System significantly raises the bar for patient medication safety and pharmaceutical drug loss prevention. The ValiMed G4 provides cutting edge features and benefits over existing systems available in the market. The G4 identifies the drug, the dose, the diluents, and is the first to feature multi-component compound detection. The G4 will have an enhanced software platform for improved accuracy and reliability, while able to perform non-invasive measures of compounds directly through IV bags, syringes and vials, offering lower risk of contamination with increased workflow. In addition to validating high-risk medications before leaving the clinical or pharmacy environment, the ValiMed G4 will also monitor and discourage the diversion of controlled substances by validating the returned or unused narcotics from patient treatment areas or surgery suites. Other applications for the ValiMed G4 system include counterfeit medication monitoring, regulatory compliance and training of clinical and pharmacy personnel.
The ASHP Midyear Clinical Meeting and Exhibition is the largest gathering of pharmacists in the world. With its focus on improving patient care, the conference is attended by more than 20,000 pharmacy professionals from 86 countries. For over four decades, the ASHP Midyear Clinical Meeting has provided health-system pharmacy practitioners with a venue for updating their knowledge, networking with colleagues, enhancing their skills, and learning about the latest products and technologies available in the market.
"The ASHP Midyear conference is the largest marquee venue to showcase our new ValiMed G4 System to a national and international audience of industry professionals. We believe we are the first to offer an affordable advanced measuring system, with multi-component capabilities that will enhance and improve the quality of care that pharmacies and clinical professionals provide. This is the perfect setting for CDEX to showcase the cutting edge technology of our new ValiMed G4 System," commented Jeff Brumfield, CEO and Chairman of CDEX, Inc.
About CDEX
CDEX develops, manufactures and globally distributes products to the healthcare and security markets. The ValiMed product line provides life-saving validation of high-risk medications and returned narcotics. The ID2™ product line detects trace amounts of illegal drugs, such as methamphetamine. CDEX expects to advance its patented technologies to serve additional markets in the future where its proprietary products can be launched. To learn more about CDEX please visit www.cdex-inc.com
Non-historical statements are forward-looking, as defined in federal securities laws, and generally can be identified by words such as "expects," "plans," "may," "believes," "should," "intends," and similar words. These statements pose risks that cannot be accurately predicted. Consequently, results may differ materially from those expressed or implied. Such risks and uncertainties include, without limitation, the effectiveness, profitability and marketability of products, the protection of intellectual property and proprietary information, and other risks detailed periodically in filings with the SEC. There is no obligation to update any forward-looking statements.
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Company contact:
Jeff Brumfield
CDEX Inc.
(520) 745-5172
Email Contact
Investors Contact:
Alliance Advisors, LLC
Alan Sheinwald
Email Contact
Mark McPartland
Email Contact
(914) 669-0222
Source: Marketwire (December 7, 2010 - 12:46 PM EST)
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PolyMedix Presents PMX-60056 Clinical Data at American Society of Hematology Meeting
Dec. 7, 2010 (Business Wire) -- PolyMedix, Inc. (OTC BB: PYMX), an emerging biotechnology company focused on developing new therapeutic drugs to treat infectious diseases and acute cardiovascular disorders, announced today that data from its Phase 1B/2 dose ranging clinical study with PMX-60056 was presented at the American Society of Hematology (ASH) 52nd Annual Meeting. At the same meeting, pre-clinical data on other heptagonist compounds were also presented. PMX-60056 is a synthetic, small-molecule designed to reverse the anticoagulant activity of both heparin and low molecule weight heparin (LMWH).
In a poster presentation titled, Reversal of Heparin by Novel Synthetic Antagonist PMX-60056 Exhibits A Linear Dose Response Relationship, Dr. Eric McAllister, Vice President of Clinical Development at PolyMedix, reported clinical results demonstrating that, using measurements routinely available during cardiac surgery, clinicians can accurately predict a single reversing dose of PMX-60056 that will safely and effectively neutralize the anticoagulation effects of heparin. The study examined the dose-response, efficacy, and safety of PMX-60056 in reversing higher doses of heparin, including a dose routinely used in cardiac surgery, and also established that subsequent repeat anticoagulation with heparin was not inhibited by PMX-60056.
At the same meeting, Dr. Richard Scott, Vice President of Research at PolyMedix, presented two additional pre-clinical studies as oral and poster presentations. These presentations were: Optimized Fully-Synthetic Salicylamide Heparin Antagonists Have Greater Efficacy Versus LMWHs and Display Improved Hemodynamic Responses as Compared to Protamine, and Arylamides: Discovery of a Novel Class of Fully Synthetic Small Molecule Heparin and LMWH Antagonists. These presentations covered data for certain pre-clinical Salicylamide and Arylamide heptagonist compounds. Compounds from both classes were shown to neutralize fondaparinux and have limited hemodynamic responses.
Posters presented are available on the PolyMedix website at: http://www.polymedix.com/presentations.php.
About PMX-60056
PolyMedix’s heptagonist compound, PMX-60056, is a synthetic, small-molecule designed to reverse the anticoagulant activity of both heparin and low molecular weight heparins (LMWHs). Heparin is an intravenous anticoagulant used to prevent clots from forming during certain cardiothoracic and orthopedic surgical procedures. After these procedures, the anticoagulant activity of heparin is reversed in order to prevent post-operative bleeding. Protamine is presently the only agent available for this use. Protamine has many limitations, and we believe there is a major need for alternative heparin reversing agents which may be safer or easier to use. LMWHs are used in approximately 12 million patients annually for chronic treatment of thrombosis. Up to 20% of patients may experience bleeding complications. There is presently no FDA approved agent available to reverse the anticoagulant activity of LMWHs. PolyMedix believes PMX-60056 pre-clinical and clinical data suggest potential safety and other advantages over protamine, as well as an opportunity to be the first reversing agent for LMWHs.
About PolyMedix, Inc.
PolyMedix is a publicly traded biotechnology company focused on the development of novel drugs for the treatment of serious infectious diseases and acute cardiovascular disorders. PolyMedix uses a rational drug design approach to create non-peptide, small-molecule drug candidates. PolyMedix’s lead antibiotic compound, PMX-30063, is currently in Phase 2 clinical trials. PMX-30063 is a small-molecule that mimics the mechanism of action of human host defense proteins, a mechanism that is distinct from currently approved antibiotic drugs and is intended to make bacterial resistance unlikely to develop. PolyMedix plans to develop this compound for serious systemic Staphylococcal infections, including methicillin resistant Staphylococcus aureus (MRSA). PolyMedix’s lead heptagonist compound, PMX-60056, has completed Phase 1 testing and is being developed to reverse the anticoagulant activity of both heparin and low molecular weight heparins (LMWH). PolyMedix believes that PMX-60056 could potentially be a safer and easier to use anticoagulant reversing agent, with broader activity, than the currently approved therapy for reversing heparin and LMWH. In addition to its small molecule therapeutics, PolyMedix has polymeric formulations with the same mechanism of action as PMX-30063, PolyCides™. PolyCides are intended for use in antimicrobial biomaterials applications as additives to paints, plastics, and textiles to create self-sterilizing products and surfaces. For more information, please visit our website at www.polymedix.com.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause PolyMedix’s actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. PolyMedix has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are PolyMedix’s need for, and the availability of, substantial capital in the future to fund its operations and research and development, and the fact that PolyMedix’s compounds may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in PolyMedix’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. PolyMedix undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
PolyMedix, Inc.
Lisa Caperelli, 484-598-2406
Director, Investor Relations & Corporate Communications
lcaperelli@polymedix.com
Source: Business Wire (December 7, 2010 - 1:00 PM EST)
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Lightwave Logic Technology and Business Update Conference Call Reminder
Call Scheduled for December 8, 2010 at 4 PM EST
Dec. 7, 2010 (PR Newswire) --
NEWARK, Del., Dec. 7, 2010 /PRNewswire-FirstCall/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG), a technology company focused on the development of the Next Generation Electro-Optic Polymer Material Platform for applications in high speed fiber-optic data communications and optical computing, announced that it is scheduling a one-hour teleconference to discuss recent corporate developments and progress with the company's advanced next generation electro-optical materials platform. This will also include a discussion of the commercial applications.
Call Date: December 8, 2010
Call Time: 4:00 PM (EST)
Dial In Number: (605) 477-3000
Pass Code: 128252#
Web Access: http://register.webcastgroup.com/l3/?wid=0841201105487
Format of the call will include a technology overview by the company's scientific team followed by a business update then a question-and-answer session. Telephone participants will be on a listen-only line. Web participants will be able to submit questions in writing during the call.
"Powered by Lightwave Logic"
Lightwave Logic, Inc. is a development stage company that is producing prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. Please visit the Company's website, www.lightwavelogic.com, for more information.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
SOURCE Lightwave Logic, Inc.
Source: PR Newswire (December 7, 2010 - 1:27 PM EST)
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PHI Mining Group to Change Name to PHI Gold Corporation and Spin Off Business Unit
Dec. 7, 2010 (Marketwire) --
LOS ANGELES, CA and FRANKFURT, GERMANY -- (Marketwire) -- 12/07/10 -- PHI Mining Group, Inc. (PINKSHEETS: PHIG) (FRANKFURT: RPBA), a majority owned subsidiary of PHI Group, Inc. (OTCBB: PHIE) (FRANKFURT: PR7) (XETRA: PR7), announced today that the company will change its name to PHI Gold Corporation to reflect its sole focus on gold mining. The company will spin off Indochina Mining Corp. as a separate entity engaged in industrial minerals.
PHI Gold Corporation will use the recently acquired Maisy Mae Creek gold mine in the Yukon Territory, Canada as a platform for additional acquisitions of other gold mines. The company currently has made three offers on mines similar to Maisy Mae and is investigating other gold ore properties in the U.S. and Asia.
As part of the restructuring plan, PHI Mining will declare a special dividend of Indochina Mining Corp. stock to shareholders of PHI Mining and register Indochina Mining as a separate public company. Indochina Mining will concentrate on non-gold and other industrial mineral properties.
PHI Gold Corporation will continue to complete the audits of its financial statements and file the required reports with the Securities and Exchange Commission to regain its full reporting status on the OTCBB and upgrade to a senior exchange in the future when appropriate.
Currently PHI Mining Group has 200 million authorized shares, of which 22,424,628 shares are issued and outstanding and 1,428,286 are free trading. PHI Mining does not intend to issue new shares for these contemplated acquisitions. The Company expects to complete the name change and declare the special dividend by December 31, 2010.
Henry Fahman, Chairman of PHI Mining Group, said, "We believe that by making these changes we will be able to create greater value for our shareholders. We look forward to providing further updates on the company in the coming weeks."
About PHI Mining Group
PHI Mining Group is a U.S.-based mining and exploration enterprise focused on acquiring and developing gold, silver, copper and industrial mineral properties. The company owns Maisy Mae Creek Gold Mine, a producing mine located in the Dawson Creek Mining District, one of the richest gold bearing areas of the Yukon Territory, Canada. Through its wholly owned subsidiary Indochina Mining Corporation, the company has also signed agreements with several partners in South East Asia to engage in mining of industrial mineral properties. PHI Mining Group is committed to high standards in the areas of environmental management and health and safety for its employees and neighboring communities. Web site: www.phimining.com.
About PHIGroup, Inc.
PHIGroup (OTCBB: PHIE) provides M&A advisory and consulting services, develops real estate and natural resources and invests in special situations. PHIGroup, which specializes in raising capital and helping take companies public, is developing PHILand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam (www.PHILandranch.com). PHIGroup is also engaged in mining activities through its majority-owned subsidiary PHI Mining Group, Inc. (PINKSHEETS: PHIG) (www.phimining.com). Website: www.phiglobal.com.
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
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Contact:
Henry Fahman
Tel: +1-714-843-5455
Email: Email Contact
Source: Marketwire (December 7, 2010 - 1:36 PM EST)
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Dune Energy Signs New Credit Facility, Updates Mid-Year Reserves and Planned Drilling
Dec. 7, 2010 (PR Newswire) --
HOUSTON, Dec. 7, 2010 /PRNewswire-FirstCall/ -- Dune Energy, Inc. (OTC Bulletin Board: DUNR) today announced the following:
New Credit Facility
Dune has replaced its $40 million revolving credit facility with Wells Fargo Capital Finance, LLC with a new $40 million term loan facility from Wayzata Opportunities Fund II, L.P. The new facility will mature on March 15, 2012. Major terms of the new facility are that Wells Fargo Capital Finance, LLC will remain agent for the facility, the $8.5 million of standby Letters of Credit for P&A bonds will now be cash collateralized through the bonding agent, the June 2011 bond interest payment of $15.75 million will be held in escrow until due. The primary negative covenant of the term loan is that the total present value of future net revenues discounted at 10%, or PV-10%, of the proved developed reserves must be greater than two (2) times the value of the face amount of the term loan. The mid-year, June 30, 2010 unaudited internally prepared reserve report PV-10 using Securities and Exchange Commission, or SEC, price assumptions was $149.9 million or 3.7 times the value of the revolver.
Mid-Year Reserves
Mid-year reserves, as reflected in our June 30, 2010 unaudited internally prepared report reflected total proved reserves of 93.1 billion cubic feet equivalent (Bcfe) consisting of 6.2 million barrels of oil (MMbo) and 56.0 Bcf of natural gas. Sixty percent of these reserves were natural gas. The PV-10 based on SEC pricing of $75.15 per barrel of oil and $4.24 per thousand cubit feet (Mcf) of natural gas of these reserves is $248.3 million. Proved reserves at year end 2009 were 105.5 Bcfe, based on SEC pricing of $58.05 per barrel of oil and $4.135 per Mcf of natural gas with a PV-10 of $212.3 million. During the first half of the year we sold 11.9 Bcfe of proved reserves and produced 3.8 Bcfe. The increase of 3.3 Bcfe over sales and production reflected minor net upward revisions in several wells within our fields.
2011 Drilling Operations
Dredging operations are scheduled to commence at our 19,500 foot Garden Island Bay SL 214 No. 1 subsalt well in early December with the rig scheduled to commence drilling around mid January 2011. The well is anticipated to take approximately 90 days to drill and another 30-45 days to test. Initially Dune will have a 15% working interest in the well escalating to a 26% working interest after the first 3 million gross barrels of oil equivalent are produced. Gross prospect reserves are estimated to be in excess of 100 MMboe.
Utilizing available cash flow and funds from the new term loan we anticipate drilling one to two shallower oil wells within our Garden Island Bay field along with a continuing workover recompletion and PUD drilling within our other fields.
James A. Watt, President and Chief Executive Officer stated, "Our new term loan facility coupled with cash flow provides us the liquidity to test the deep potential of Garden Island Bay and resume drilling and recompletion programs in several of our Gulf Coast fields. We believe that success in these drilling ventures will position the company to evaluate restructuring its balance sheet prior to the June 2012 maturity of the 10 1/2% Senior Secured Notes."
Click here for more information: http://www.duneenergy.com/news.html?b=1683&1=1
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements that are intended to be covered by "forward-looking statements" safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements included in this press release that address activities, events or developments that Dune Energy expects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to estimates of, and increases in, production, cash flows and values, statements relating to the continued advancement of Dune Energy, Inc.'s projects and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Dune Energy, Inc. believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, changes in product prices and other risks disclosed in Dune's Annual report on Form 10-K filed with the U.S. Securities and Exchange Commission.
SOURCE Dune Energy, Inc.
Source: PR Newswire (December 7, 2010 - 1:44 PM EST)
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Xodtec LED, Inc. Releases Intelligent LED Street Lighting Management System
Dec. 7, 2010 (GlobeNewswire) --
TAIPEI, Taiwan, Dec. 7, 2010 (GLOBE NEWSWIRE) -- Xodtec LED, Inc. (OTCBB:XODG) ("Xodtec" or the "Company"), a Taiwan-based LED lighting solutions and products provider, announces its development of Administer, an automatic LED street lighting management system that is designed to monitor thousands of LED street lights which are connected to a central management system and embedded with Xodtec intelligent surveillance and management functions.
Xodtec also provides fundamental energy management systems to city governments, road departments and public facilities companies. We believe that one third of the lighting energy costs, which can be as much as 30% or 40% of city council's lighting budget, can be saved.
Xodtec is installing the intelligent LED street lighting management system in Yangzhou, China, and will finish the function test in December 2010.
Product Features:
1. Individual or groups of lights are able to be turned on/off or dimmed for power saving.
2. Dimming via embedded timetable or external commands.
3. Self-check and automatic real-time reporting.
4. Automatic system failure reporting for troubleshooting.
5. Lights can be displayed on Google Map and remote information access via WEB.
About Xodtec LED, Inc.
Xodtec is an energy-saving LED lighting solutions provider based in Taiwan. Xodtec provides high performance and cost-effective energy-saving LED solutions and lighting products for private companies, public facilities, residential communities, factories and households, providing optimal energy-saving solutions that meet today's energy management requirements. Please visit our website http://www.xodtec.com for detailed company information.
The Xodtec Group USA, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7143
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
CONTACT: Xodtec LED, Inc.
Ethan Chang
011-886-2-2228-6276
ethan.chang@xodtec.com
http://www.xodtec.com
Source: Globe Newswire (December 7, 2010 - 1:45 PM EST)
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Far East Wind Power to Present at 3rd Annual LD MICRO Conference
Dec. 7, 2010 (Marketwire) --
BEIJING -- (Marketwire) -- 12/07/10 -- Far East Wind Power Corp. (OTCBB: FEWP) ("Far East" or the "Company") announced today that Marcus Laun, Director of the company will present at the 3rd Annual LD MICRO Growth Conference, which is being held on Thursday, December 9th, 2010, at the Luxe Sunset Bel Air in Los Angeles. The presentation will take place at 8:00 AM PST.
Investors who are interested in additional information or who want to schedule a one-on-one meeting with Far East Wind Power at this conference should contact Jim Blackman at 713-256-0369 or email jim@prfmonline.com.
About Far East Wind Power Corp. (OTCBB: FEWP)
Far East Wind Power Corp. aims to generate clean and profitable energy in one of the world's fastest growing energy sectors through access to a portfolio of utility-class wind power development projects. Far East will inject innovation to drive cost out of turbine manufacturing, introduce new technologies and strategic relationships, and aggressively pursue all available low costs of capital to deliver the most competitive cost per capacity and highest rates of return in the Asian marketplace. For more information, visit: www.fareastwind.com.
About LD MICRO
LD MICRO is a by-invitation only newsletter firm that focuses on finding undervalued companies in the micro-cap space. Since 2002, the firm has published an annual list of recommended stocks as well as comprehensive reports on select companies throughout the year. LD MICRO concentrates on finding, researching, and investing in companies that are overlooked by institutional investors. It is a non-registered investment advisor.
For more information on the list of presenting companies or to register for the event, please visit http://www.ldmicro.com or call (408) 457-1042.
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Contact:
PR Financial Marketing, LLC.
Investor Relations
Jim Blackman
713-256-0369
Jim@prfmonline.com
Source: Marketwire (December 7, 2010 - 2:02 PM EST)
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Shrink Nanotechnologies' Shrink Chips Cell Culturing Unit Enters Into Exclusive Development and Manufacturing Agreement with EV Group to Commercialize the StemDisc Platform
Initial StemDisc450 Structured Films to be Manufactured in EV Group's State-of-the-Art Tempe, Arizona Facility
Dec. 8, 2010 (PR Newswire) --
CARLSBAD, Calif., Dec. 8, 2010 /PRNewswire/ -- Shrink Nanotechnologies, Inc. ("Shrink") (OTC Bulletin Board: INKN), an innovative nanotechnology company developing products and licensing opportunities in the solar energy industry, medical diagnostics and sensors and biotechnology research and development tools businesses, announced today that it has entered into a multi-year development and manufacturing agreement with EV Group, a leader in the nano-imprint lithography process development and equipment manufacturing. The mutually exclusive, two year agreement calls for EV Group and Shrink to develop and manufacture Shrink's structured substrates for its StemDisc stem cell and cell culturing platform.
(Photo: http://photos.prnewswire.com/prnh/20101207/LA13916)
"We are pleased to announce Shrink's relationship with EV Group, a world-class nanotechnology applications developer and equipment manufacturer with a global presence. Over the past two years, Shrink StemDisc product footprint has served as a platform for our entry into the growing cell culturing business. We believe that StemDisc offers unique competitive advantages relative to its peers and are excited as an organization as we roll out our initial products later this year and into the first quarter of next year," said Mark L. Baum, CEO of Shrink Nanotechnologies, Inc.
Baum added, "Throughout the development process, we have counseled with EV Group and they have assisted us in creating manufacturing solutions that will allow Shrink to move from the prototype stage to the ability make many thousands of devices. As important, our relationship with EV Group has been structured for us to move beyond our initial product, the StemDisc450, as we add new products to the StemDisc family of products."
Steven Dwyer, EV Group Inc., Vice President and General Manager of North America stated, "Our Agreement with Shrink follows many months of work between Shrink's StemDisc development group and our staff in Tempe, Arizona. Our team's dedication to meeting Shrink's strict fabrication requirements demonstrates the success of our overall effort to develop our process services at our Tempe, AZ facility. This effort will ensure that Shrink has access to many thousands of StemDisc devices as soon as the end of this year, in an efficient and cost effective process, using EV Group's state-of-the-art Applications Lab This project will hopefully be one of many we work on with Shrink as EV Group leverages its significant intellectual capital in the form of process and equipment development for small and medium sizes business around the world."
About Shrink Nanotechnologies, Inc.
Shrink Nanotechnologies, Inc. is a one-of-a-kind FIGA™ organization, which focuses on leveraging contributions from experts in Finance, Industry, Government and Academia. Operating as a high-technology development-stage company, Shrink owns and develops proprietary and patent-pending nano-sized technologies, components and product systems. The Company's unique NanoShrink™ material is a pre-stressed polymer which is used in a patent pending manufacturing platform with numerous applications in the solar energy, human and animal diagnostics, and biotechnology research and development tools industries. For more information, please visit www.shrinknano.com.
About EV Group
EV Group (EVG) is a world leader in wafer-processing solutions for semiconductor, MEMS and nanotechnology applications. Through close collaboration with its global customers, the company implements its flexible manufacturing model to develop reliable, high-quality, low-cost-of-ownership systems that are easily integrated into customers' fab lines. Key products include wafer bonding, lithography/nanoimprint lithography (NIL) and metrology equipment, as well as photoresist coaters, cleaners and inspection systems.
In addition to its dominant share of the market for wafer bonders, EVG holds a leading position in NIL and lithography for advanced packaging and MEMS. Along these lines, the company co-founded the EMC-3D consortium in 2006 to create and help drive implementation of a cost-effective through-silicon via (TSV) process for major ICs and MEMS/sensors. Other target semiconductor-related markets include silicon-on-insulator (SOI), compound semiconductor and silicon-based power-device solutions.
Founded in 1980, EVG is headquartered in St. Florian, Austria, and operates via a global customer support network, with subsidiaries in Tempe, Ariz.; Albany, N.Y.; Yokohama and Fukuoka, Japan; Seoul, Korea and Chung-Li, Taiwan. The company's unique Triple i-approach (invent - innovate - implement) is supported by a vertical integration, allowing EVG to respond quickly to new technology developments, apply the technology to manufacturing challenges and expedite device manufacturing in high volume. More information is available at www.EVGroup.com.
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only. Actual results may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Shrink's ability to obtain additional financing and to build and develop markets for Shrink's biotechnology products such as StemDisc, and specifically those systems and products that are discussed in this press release. These factors should be strongly considered when making a decision to acquire or maintain a financial interest in Shrink, including consulting with a FINRA registered representative prior to making such decision. Shrink undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Shrink's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Shrink's success are more fully disclosed in Shrink's most recent public filings with the U.S. Securities and Exchange Commission.
See also:
http://www.shrinknano.com/products/product-tools
http://www.shrinknano.com/products/product-diagnostics
http://www.shrinknano.com/tech
http://www.shrinknano.com/tr35-a-children%E2%80%99s-toy-inspires-a-cheap-easy-production-method-for-high-tech-diagnostic-chips
Contact:
For Shrink Nanotechnologies
Mark L. Baum, Esq.
760-804-8844 x205
Contacts:
Clemens Schutte
Director, Marketing and Communications
EV Group .
Tel: +43 7712 5311 0
E-mail: Marketing@EVGroup.com
(Logo: http://photos.prnewswire.com/prnh/20101015/SHRINKLOGO)
SOURCE Shrink Nanotechnologies, Inc.
Source: PR Newswire (December 8, 2010 - 12:42 AM EST)
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Home Federal Bancorp, Inc. of Louisiana Announces Commencement of Syndicated Community Offering
Dec. 7, 2010 (GlobeNewswire) --
SHREVEPORT, La., Dec. 7, 2010 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana, a federal corporation (the "Company") (OTCBB:HFBL), the holding company for Home Federal Bank, today announced that, in connection with the reorganization of Home Federal Bank from the mid-tier mutual holding company structure to the stock holding company structure and "second-step" stock offering of shares of common stock of a new holding company for Home Federal Bank, the new holding company has commenced a syndicated community offering to complete the sale of shares in the second step offering. The shares are being sold at a purchase price of $10.00 per share.
Stifel, Nicolaus & Company, Incorporated is acting as sole book-running manager for the syndicated community offering. The syndicated community offering will be conducted on a best efforts basis and none of the members of the syndicate group are required to purchase any shares in the offering.
The completion of the conversion and offering is subject to, among other things, selling a minimum of 1,593,750 shares in the offering, the receipt of all necessary final regulatory approvals and approval by the members of Home Federal Mutual Holding Company of Louisiana and the shareholders of the Company at separate meetings to be held on December 15, 2010.
Home Federal Bancorp, Inc. of Louisiana is the "mid-tier" holding company for Home Federal Bank, a federally-chartered, FDIC-insured savings association headquartered in Shreveport, Louisiana. Home Federal Bank operates from its main office, two branch offices and one agency office in Shreveport, Louisiana. The Company's website is http://www.hfbla.com/.
The Home Federal Bancorp, Inc. of Louisiana logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6986
This press release contains certain forward-looking statements about the conversion and offering. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and offering, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which Home Federal Bancorp and Home Federal Bank are engaged.
A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission ("SEC"). This press release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer will be made only by means of the written prospectus forming part of the registration statement (and, in the case of the subscription offering, an accompanying stock order form).
The shares of common stock of Home Federal Bancorp, Inc. of Louisiana are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.
CONTACT: Home Federal Bancorp, Inc. of Louisiana
Daniel R. Herndon, President and Chief Executive Officer
James R. Barlow, Executive Vice President and
Chief Operating Officer
(318) 222-1145
Source: Globe Newswire (December 7, 2010 - 7:17 PM EST)
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XZERES Wind Corporation Exhibits at the American Wind Energy Association's Small and Community Wind Conference & Exhibition
Company to Showcase Products and Business Models at Booth 713
Dec. 7, 2010 (Marketwire) --
WILSONVILLE, OR -- (Marketwire) -- 12/07/10 -- XZERES Wind Corp. (OTCBB: XWND), designer, developer and producer of distributed generation, wind power systems for the small wind (2.5kW-100kW) market, announced today that the company will be exhibiting at the American Wind Energy Association (AWEA) Small and Community Wind Conference from December 7 to December 9 at the Oregon Convention Center in Portland, OR. XZERES can be found at booth number 713, where Frank Greco, Chief Executive Officer of XZERES Wind, will be available to discuss the company's products and business models.
AWEA's small wind event brings together the thought leaders of the wind industry with manufacturers, dealers, installers, and customers from across diverse sectors within the domestic and commercial markets looking for valuable information about small wind power solutions.
"This event is a great opportunity to introduce the community, as well as other industry leaders, to our systems and latest business models, including our recently-announced Buy Direct program and innovative Micro-Generation Utility Model for the small wind market," said Frank Greco.
For more information about XZERES Wind and its products please visit www.xzeres.com.
About the American Wind Energy Association:
The American Wind Energy Association is the national trade association of America's wind industry, with more than 2,500 member companies, including global leaders in wind power and energy development, wind turbine manufacturing, component and service suppliers, and the world's largest wind power trade show. AWEA is the voice of wind energy in the U.S., promoting renewable energy to power a cleaner, stronger America. Look up information on wind energy at www.awea.org.
About XZERES Wind Corp.:
XZERES Wind Corp designs, develops, manufactures and markets distributed generation, wind power systems for the small wind (2.5kW-100kW) market. Our grid connected and off grid wind turbine systems, which consist of our 2.5kW and 10kW devices and related equipment, are utilized for electrical power generation for applications and markets such as residential, micro-grid based rural electrification, agricultural, small business, rural electric utility systems, as well as other private, corporate infrastructure and government applications. Our wind power systems are focused on distributed energy, where a specific machine's energy output is largely or entirely used on-site where the equipment is installed, as well as grid connected applications. While many of our customers take advantage of their local net-metering rules within the United States and Feed In Tariffs that are often available in Europe and Internationally (to sell power back to the grid), our wind power systems are not dependent on transmission needs to carry the energy produced to another location. For more information please see the Company's web site at www.xzeres.com
Forward Looking Statements and Safe Harbor Statement:
The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. XZERES Wind Corp claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These "Forward-looking statements" are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, in particular, projections about our future results included in our Exchange Act reports, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate. These forward-looking statements may be identified by the use of terms and phrases such as "anticipates," "believes," "can," "could," "estimates," "expects," "forecasts," "intends," "may," "plans," "projects," "targets," "will," and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters such as new business models, new products, product enhancements, new technologies, sales levels, expense levels and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or our future financial performance and are subject to business, economic, regulatory and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements of our business or our industry to be materially different from those expressed or implied by any forward-looking statements.
These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: (a)new business models may be more difficult and/or take longer than anticipated, may be more costly than anticipated and may have unanticipated adverse effects relating to the Company's business; (b) the challenge of compensating and retaining key employees; (c) the impact on the Company and our customers from the current domestic and international economic, geo-political and financial market conditions; (d) the success of our new products and new business models in achieving their expected benefits; (e) to perform as expected without material defects; (f) to be qualified and accepted by our customers, (g) to successfully compete with products, systems, technologies and services offered by our competitors; (h) we may not be successful in undertaking the steps currently planned in order to further develop the business; and (i) other risks and uncertainties described in our filings with the Securities and Exchange Commission.
Neither XZERES Wind Corp. management nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of the date hereof, and subsequent facts or circumstances may contradict, obviate, undermine, or otherwise fail to support or substantiate such statements. We caution you not to rely on these statements without also considering the risks and uncertainties associated with these statements and our business that are addressed in our filings with the Securities and Exchange Commission that are available on the SEC's web site located at www.sec.gov. Certain information included in this press release may supersede or supplement forward-looking statements in our other Exchange Act reports filed with the SEC. We assume no obligation to update any forward-looking statement to conform such statements to actual results or to changes in our expectations, except as required by applicable law or regulation.
Company Contact:
Tina Mortensen
XZERES Wind Corp
(503) 388-7331
Media Contact:
Beckerman
xzerespr@beckermanpr.com
(201) 465-8007
Source: Marketwire (December 7, 2010 - 6:50 PM EST)
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Home Federal Bancorp, Inc. of Louisiana Announces Commencement of Syndicated Community Offering
Dec. 7, 2010 (GlobeNewswire) --
SHREVEPORT, La., Dec. 7, 2010 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana, a federal corporation (the "Company") (OTCBB:HFBL), the holding company for Home Federal Bank, today announced that, in connection with the reorganization of Home Federal Bank from the mid-tier mutual holding company structure to the stock holding company structure and "second-step" stock offering of shares of common stock of a new holding company for Home Federal Bank, the new holding company has commenced a syndicated community offering to complete the sale of shares in the second step offering. The shares are being sold at a purchase price of $10.00 per share.
Stifel, Nicolaus & Company, Incorporated is acting as sole book-running manager for the syndicated community offering. The syndicated community offering will be conducted on a best efforts basis and none of the members of the syndicate group are required to purchase any shares in the offering.
The completion of the conversion and offering is subject to, among other things, selling a minimum of 1,593,750 shares in the offering, the receipt of all necessary final regulatory approvals and approval by the members of Home Federal Mutual Holding Company of Louisiana and the shareholders of the Company at separate meetings to be held on December 15, 2010.
Home Federal Bancorp, Inc. of Louisiana is the "mid-tier" holding company for Home Federal Bank, a federally-chartered, FDIC-insured savings association headquartered in Shreveport, Louisiana. Home Federal Bank operates from its main office, two branch offices and one agency office in Shreveport, Louisiana. The Company's website is http://www.hfbla.com/.
The Home Federal Bancorp, Inc. of Louisiana logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6986
This press release contains certain forward-looking statements about the conversion and offering. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and offering, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which Home Federal Bancorp and Home Federal Bank are engaged.
A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission ("SEC"). This press release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer will be made only by means of the written prospectus forming part of the registration statement (and, in the case of the subscription offering, an accompanying stock order form).
The shares of common stock of Home Federal Bancorp, Inc. of Louisiana are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.
CONTACT: Home Federal Bancorp, Inc. of Louisiana
Daniel R. Herndon, President and Chief Executive Officer
James R. Barlow, Executive Vice President and
Chief Operating Officer
(318) 222-1145
Source: Globe Newswire (December 7, 2010 - 7:17 PM EST)
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PGI's Cali, Colombia Facility Temporarily Closed Due to Regional Flooding
Dec. 7, 2010 (PR Newswire) --
CHARLOTTE, N.C., Dec. 7, 2010 /PRNewswire/ -- Polymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) (PGI) has temporarily closed its Cali, Colombia facility due to flooding that has occurred at the industrial park where the PGI plant is located. A severe rainy season has impacted many parts of the country.
(Logo: http://photos.prnewswire.com/prnh/20080903/CLW036LOGO-b )
During the interruption of manufacturing, the company has established temporary offices away from the flooded area and is working with customers to meet critical needs through the use of its global manufacturing base as much as possible.
Veronica "Ronee" Hagen, PGI's chief executive officer, stated, "This is a difficult situation, but we are pleased to report that our people remain safe. Our immediate focus is on mitigating impacts to our customers and our business. We are in close communications with our Latin American customers and supply chain partners, alerting them about this situation and the execution of contingency plans to support their needs. Additionally, we are proactively preparing to take the necessary steps to expeditiously restore our facility to its world-class status as soon as the water levels subside. We will continue to communicate with our people and our customers as the situation develops."
Polymer Group, Inc., one of the world's leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 14 manufacturing and converting facilities in nine countries throughout the world.
Safe Harbor Statement
Except for historical information contained herein, the matters set forth in this press release are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that involve certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements speak only as of the date of this release. Important factors that could cause actual results to differ materially from those discussed in such forward-looking statements include: the outcome of settlement discussions with the Internal Revenue Service regarding the final amount of the potential tax liabilities and associated payments related to the previously disclosed personal holding company tax matters; uncertainty regarding the effect or outcome of the company's announced sale to an affiliate of Blackstone Capital Partners V L.P.; general economic factors including, but not limited to, changes in interest rates, foreign currency translation rates, consumer confidence, trends in disposable income, changes in consumer demand for goods produced, and cyclical or other downturns; cost and availability of raw materials, labor and natural and other resources and the inability to pass raw material cost increases along to customers; changes to selling prices to customers which are based, by contract, on an underlying raw material index; substantial debt levels and potential inability to maintain sufficient liquidity to finance our operations and make necessary capital expenditures; inability to meet existing debt covenants or obtain necessary waivers; achievement of objectives for strategic acquisitions and dispositions; inability to achieve successful or timely start-up on new or modified production lines; reliance on major customers and suppliers; domestic and foreign competition; information and technological advances; risks related to operations in foreign jurisdictions; and changes in environmental laws and regulations, including climate change-related legislation and regulation. Investors and other readers are directed to consider the risks and uncertainties discussed in documents filed by Polymer Group, Inc. with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K/A and subsequent Quarterly Reports on Form 10-Q.
For media inquiries, please contact:
Cliff Bridges
Global Marketing and HR Communications Director
(704) 697-5168
bridgesc@pginw.com
SOURCE Polymer Group, Inc.
Source: PR Newswire (December 7, 2010 - 6:30 PM EST)
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Anglo Swiss Resources Grants 400,000 Options
Dec. 7, 2010 (Business Wire) -- Anglo Swiss Resources Inc. has granted 400,000 options to directors, officers and/or employees at 22.5 cents per share for up to a period of five years. The options will vest according to the TSX Venture Exchange policies and are subject to trading restrictions as per regulatory rules and policies.
Anglo Swiss Resources is developing the Company’s 100% owned Kenville Gold Mine property and is also earning a majority interest in the 160 square kilometer Nelson Mining Camp, south of the Kenville property. The Nelson Mining Camp is the host to numerous, historical producing gold, silver and copper mines, surface adits and old workings. Exploration programs are underway throughout the property with the focus on building a larger gold resource within the Kenville Gold Mine property and beyond to the south.
Reader Advisory
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws and the applicable securities laws of the United States. Such forward looking statements or information include, but are not limited to, statements or information with respect to Anglo Swiss Resources’ plan for future exploration and development of its properties.
Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward looking statements or information. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the following: the ability of Anglo Swiss Resources to advance development of its properties; price volatility of gold and other metals; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated resources, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of mineral exploration; defective title to mineral claims or property, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.
Anglo Swiss Resources Inc.
Len Danard, 604-683-0484
President and Chief Executive Officer
Fax: 604-683-7497
corporate@anglo-swiss.com
Source: Business Wire (December 7, 2010 - 6:16 PM EST)
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California Coastal Communities Seeks Court Approval of Plan Support Agreement With Lenders for Consensual Exit From Bankruptcy
- Holders of Common Stock to Receive No Recovery
- Lenders to Provide $15.0 million of DIP Financing
- Remains Subject to Solicitation of Creditors and Plan Confirmation
Dec. 7, 2010 (PR Newswire) --
IRVINE, Calif., Dec. 7, 2010 /PRNewswire-FirstCall/ -- California Coastal Communities, Inc. (OTCQB: CALCQ) announced today that the Company has filed a motion for authority to enter into a plan support agreement with a majority of its senior lenders comprising 81 % of the senior revolving loan and 88 % of the senior term loan (the "Lenders") that will enable the Company to proceed with a consensual plan of reorganization (the "Plan") with respect to its Chapter 11 bankruptcy cases (the "Chapter 11 Cases"). The Chapter 11 Cases are being jointly administered in the United States Bankruptcy Court for the Central District of California (the "Bankruptcy Court"). The Plan will be subject to approval by the Bankruptcy Court following solicitation of votes from creditors, and there can be no assurance that Bankruptcy Court approval will be obtained.
In order to enhance the Company's liquidity and working capital, certain of the Lenders have also agreed to provide a debtor-in-possession term loan agreement (the "DIP Credit Agreement"), pursuant to which they will lend $5.0 million upon the Bankruptcy Court's interim approval of the DIP Credit Agreement and $10.0 million upon final approval by the Bankruptcy Court.
Under the proposed Plan, (a) Lenders under the DIP Credit Agreement will have an option to be converted into a first lien position in the principal amount of $15.0 million with an expected maturity date of March 1, 2013 and will be paid interest at an annual rate of Libor + 750 basis points with a Libor floor of 250 basis points (resulting in a current rate of 10.0%); (b) the $81.7 million existing senior revolving loan will be converted into a new second lien position loan, with an expected maturity date of March 1, 2016 and will be paid interest at the same rate as the DIP Credit Agreement; (c) the existing $99.8 million senior term loan holders will receive a pro rata share of (i) a new third lien position loan in the principal amount of $44.0 million, with an expected maturity date of March 1, 2017 without any amortization required until the first and second lien loans are fully repaid and bearing interest at an annual fixed rate of 15%, with all of such interest accruing and being added to the principal balance until the first and second lien loans are fully repaid, and (ii) 100% of the equity in the reorganized Company. General unsecured creditors are expected to share on a pro rata basis, based on the face amount of allowed claims, in a $2 to 3 million trust for general unsecured claims. Under the Plan, there will be no recovery by the holders of the Company's outstanding common stock.
Chief Executive Officer Raymond J. Pacini commented, "After a careful and thorough analysis, we determined that the agreement announced today provides the most certain path for exiting bankruptcy. Given continued concerns over the strength and sustainability of economic growth and its impact on the housing market, we believe that de-leveraging the Company upon exiting bankruptcy will best position the Company to navigate the uncertain recovery in our housing market. With the cloud of bankruptcy being removed, we are well-positioned to provide unique coastal homes to those seeking a home in Huntington Beach."
Pacini further commented, "We are pleased to have the support of our lenders in helping us exit bankruptcy, which has no doubt slowed our Brightwater sales. Their willingness to provide the DIP financing and assume equity ownership is an important vote of confidence and evidences our shared belief in the ability to successfully complete our Brightwater development."
The Company is hopeful that by February 28, 2011 it could exit the bankruptcy that was commenced by the Company and certain of its direct and indirect wholly-owned subsidiaries on October 27, 2009, which is being jointly administered under the caption In re California Coastal Communities, Inc., Case No. 09-21712-TA; however, there can be no assurance in that regard.
The Company is a residential land development and homebuilding company operating in Southern California. The Company's principal subsidiaries are Hearthside Homes which is a homebuilding company, and Signal Landmark which owns 110 acres on the Bolsa Chica mesa where sales commenced in August 2007 at the 356-home Brightwater community. Hearthside Homes has delivered over 2,300 homes to families throughout Southern California since its formation in 1994.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain of the foregoing information contains forward-looking statements that relate to future events or the Company's future financial performance. These statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," "hopes" or the negative of such terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements about the Company's plans, objectives, goals, expectations and intentions with respect to the bankruptcy proceedings and the financing commitment, the number and types of homes that the Company may develop and sell, the timing and outcomes of court proceedings, lender negotiations, and other statements contained herein that are not historical facts. These statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other factors that are difficult to predict. Therefore, actual results may vary materially from what is expressed in or indicated by the forward-looking statements. The risk factors set forth under "Item 1A. Risk Factors" in our Annual Reports on Form 10-K and other matters discussed from time to time in our filings with the Securities and Exchange Commission, could affect future results, causing these results to differ materially from those expressed in our forward-looking statements. Currently, the risks and uncertainties that may most directly impact our future results include (i) the ability of the Company to continue as a going concern; (ii) the Company's ability to obtain Bankruptcy Court approval with respect to the Plan and other motions in the Chapter 11 Cases; (iii) risks associated with third party motions in the Chapter 11 Cases, which may interfere with the Company's ability to consummate the Plan as currently proposed; (iv) the ability to execute the Company's business and restructuring plan; (v) the Company's ability to maintain contracts that are critical to its operation, and to retain key executives, managers and employees. In the event that the risks disclosed in our public filings and those discussed above cause results to differ materially from those expressed in our forward-looking statements, our business, financial condition, results of operations or liquidity could be materially adversely affected. Accordingly, our investors are cautioned not to place undue reliance on these forward-looking statements because, while we believe the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate. Further, the forward-looking statements included in this release and those included from time to time in our other public filings, press releases, our website and oral and written presentations by management are only made as of the respective dates thereof. We undertake no obligation to update publicly any forward-looking statement in this release or in other documents, our website or oral statements for any reason, even if new information becomes available or other events occur in the future.
SOURCE California Coastal Communities, Inc.
Source: PR Newswire (December 7, 2010 - 5:59 PM EST)
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PCS Edventures! Announces Holiday Furlough
Dec. 7, 2010 (PR Newswire) --
BOISE, Idaho, Dec. 7, 2010 /PRNewswire/ -- PCS Edventures!.com, Inc. (OTC Bulletin Board: PCSV) today announced holiday furlough and altered business hours for the weeks prior to and after Christmas.
PCS will scale back its development, fulfillment, and accounting, department operations in a non-paid furlough from December 20th to December 31st this year. Public schools typically stop receiving product prior to Christmas and through the holiday break, so it is not possible to deliver products during the holiday season. "We experience this holiday slowdown each year when a large percentage of our employees are typically away from the office anyway," said Robert Grover, President, CTO, and COO of PCS Edventures. "This year we have decided to implement some cost-saving measures that will coincide with the holiday season when business with schools is virtually nonexistent anyway."
The PCS sales staff will continue to work during this time, focusing its efforts on the non-school affiliated afterschool programs. Many of these programs finalize budgets and purchase materials for 2011 summer camps in December and January for delivery to sites after March. "We have dedicated all of our sales personnel to working the phones during this important business time for afterschool programs," said Bill Albert, Vice President of the PCS Afterschool Business Unit. "With December just starting, we are already beginning to receive summer camp orders and anticipate this will continue at a strong pace for the coming 60 days."
PCS plans to return to full staffing levels and normal hours of business beginning January 3, 2011.
About PCS Edventures!
PCS Edventures!.com, Inc. (PCS) designs and delivers educational products and services to the K-16 market that develop contemporary skills for the 21st Century, including critical thinking, problem solving, innovation, creativity, and communications. PCS programs emphasize hands-on experiences in Science, Technology, Engineering and Math (STEM) and have been deployed at over 6,000 sites in all 50 United States and 17 foreign countries. Additional information is available on the Internet at www.edventures.com.
PCS Edventures is headquartered in Boise, Idaho, and its common stock is listed on the OTC Bulletin Board under the symbol "PCSV".
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K for the year ended March 31, 2010, and Form 10-Q for the six months ended September 30, 2010 as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.
For additional information, please contact:
Anthony A. Maher, CEO
(208) 343-3110
tmaher@pcsedu.com
or
RJ Falkner & Company, Inc., Investor Relations Counsel
(830) 693-4400
info@rjfalkner.com
SOURCE PCS Edventures!.com, Inc.
Source: PR Newswire (December 7, 2010 - 5:58 PM EST)
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Vapor Corp. Celebrates Court Ruling: FDA Loses Appeal, Can't Regulate E-Cigarettes as a Drug
Dec. 7, 2010 (Marketwire) --
HALLANDALE, FL -- (Marketwire) -- 12/07/10 -- Vapor Corp. (OTCBB: VPCO) is delighted to announce today's significant victory for the electronic cigarette industry. A U.S. federal appeals court found that as long as electronic cigarettes aren't marketed as a way to treat or cure a disease, i.e., smoking cession aids, the U.S. Food and Drug Administration lacks the authority to regulate these products under the Federal Food, Drug, and Cosmetic Act ("FDCA"), and has no authority to block the importation of these electronic cigarette products. "Together, Brown and Williamson and the Tobacco Act establish that the FDA cannot regulate customarily marketed tobacco products under the FDCA's drug/device provisions, that it can regulate tobacco products marketed for therapeutic purposes under those provisions, and that it can regulate customarily marketed tobacco products under the Tobacco Act... Of course, in the event that Congress prefers that the FDA regulate e-cigarettes under the FDCA's drug/device provisions, it can always so decree," the Court declared.
"We are extremely pleased with this court ruling," says Kevin Frija, President and CEO of Vapor Corp. "The ruling finally resolves any lingering doubt which has challenged the electronic industry for quite some time now. Vapor Corp. has always been proactive in taking many steps to ensure the responsible marketing of our electronic cigarettes. Vapor Corp. in no way markets its product as smoking cessation devices; we market our product as an alternative to smoking traditional tobacco cigarettes," added Mr. Frija. "There are over 1 billion smokers in the world today, and recreational tobacco is a $100 billion+/year industry. Vapor Corp. is the industry leader for electronic cigarettes, and we have been working diligently to enter into very visible distribution channels across the United States. With today's legal victory, we are best positioned among our competitors to quickly capture an even greater market share for our products," added Mr. Frija.
About Vapor Corp.
Vapor Corp. (OTCBB: VPCO) is a marketer and distributor of electronic cigarettes, whose brands include Fifty-One™, Krave™, EZ Smoker™, Green Puffer™, and Smoke Star™ brands. Electronic cigarettes are electronic devices that vaporize a liquid solution, which simulate a smoking experience without the burning of tobacco, and as such, no smoke or noxious odor is dispelled from the device. The company currently sells its electronic cigarettes internationally and domestically through distributors, wholesalers and direct to consumers through its websites and direct response television marketing efforts. For more information, please visit: http://smoke51.com or http://www.vapor-corp.com.
Contact:
Vapor Corp.
Kevin Frija
President
Ph 888-766-5351
Source: Marketwire (December 7, 2010 - 5:50 PM EST)
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Zurvita Holdings, Inc. Reports Fiscal Year 2010 Financial Results
Financial Results Driven by Growth in Representative Base and New Revenue Streams
Dec. 7, 2010 (Marketwire) --
HOUSTON, TX -- (Marketwire) -- 12/07/10 -- Zurvita Holdings, Inc. (OTCBB: ZRVT) (OTCBB: ZRVTE) ("Zurvita" or the "Company"), a dynamic direct-to-consumer network marketing company offering turn-key solutions for high-quality consumer and business products and services, today announced its financial results for the 2010 fiscal year ended July 31, 2010.
Fiscal 2010 Highlights
-- Full year fiscal 2010 revenues reached $6.3 million.
-- Full year fiscal 2010 gross profit rose to $1.7 million.
-- Gross margin for full year fiscal 2010 was 26.7%.
-- Net loss for full year fiscal 2010 was $11.5 million, or $0.20 per diluted share.
-- Held "Champions Weekend" and "Freedom Crusade" national conferences, drawing over 1000 in combined attendance.
-- Launched national online business advertising campaign and introduced enhancements to proprietary local search advertising and search engine directory, "ZLinked."
-- Introduced a series of enhanced business tools to capitalize on major market growth opportunities.
-- Increased total number of sales representatives by approximately 100%.
"We are excited by the results we achieved in fiscal 2010 as we continued to increase our revenue by introducing compelling new products that no one else has, such as commercial energy sales, which represents a multi-billion dollar market and is a true innovation in our industry," said Zurvita Co-Chief Executive Officer Jay Shafer. "Our 100% increase in sales representatives is clear indication that our product mix and sales focus are well on track. Sales in fiscal 2010 were driven by new revenue streams from advertising sales and commissions relating to energy sales as well as increases in marketing fees and administrative website sales. As we head into our next National Conference in February, 2011, we continue to refine our proven strategies to capitalize on growth in trillion dollar industries such as internet services and commercial energy deregulation with cutting edge tools. We continue to see strong upside for our business going into 2011 and beyond as we provide our consultants leading products and services as well as revolutionary new tools needed to create financial freedom."
Fiscal Year 2010 Results
Revenue for the twelve months ended July 31, 2010, was approximately $6.3 million, an increase of $3.5 million compared to revenue of $2.8 million for the seven months ended July 31, 2009, which represents a short fiscal year period due to a change in the Company's fiscal year end from December 31st to July 31st. The increase in total revenue is primarily a result of new advertising and energy revenue streams.
Administrative websites sales and marketing fees were approximately $2.1 million and $1.9 million for the year ended July 31, 2010, respectively, as compared to approximately $514 thousand and $1.3 million, respectively, for the seven months ended July 31, 2009. The increase in administrative website sales and marketing fees was approximately $1.5 million and $642 thousand, respectively. The increase was a direct result of the growth in the total sales representatives to approximately 5,100 as of July 31, 2010, from approximately 2,600 as of July 31, 2009. The Company was able to attract and retain more representatives as a result of greater product offerings in fiscal year 2010 than in the comparable short fiscal year ending July 31, 2009. Advertising sales related to the Company's Local Search Engine directory and commissions related to energy sales were new revenue streams between the periods that both contributed to an aggregate increase of $1.4 million of new revenue for the fiscal year ended July 31, 2010 as compared to the seven months ended July 31, 2009.
Gross profit for the fiscal year ended July 31, 2010, was approximately $1.7 million as compared to gross profit of approximately $697 thousand for the short fiscal year ended July 31, 2009. The Company realized an increase in gross profit due to less non-traditional compensation measures used to compensate consultants. This was achieved by having a greater product offering with improved margins.
Operating expenses for the twelve months ended July 31, 2010, were approximately $8.8 million, compared to $4.3 million for the seven months ended July 31, 2009. Operating expense to revenue ratio decreased to 1.36% for the fiscal year ended July 31, 2010 from 1.51% for the short seven month fiscal period ended July 31, 2009. Operating loss increased to approximately $7.1 million for the fiscal year ended July 31, 2010, from approximately $3.6 million for the short fiscal year ended July 31, 2009.
The Company reported a net loss of approximately $11.5 million, or $0.20 per diluted share, for the fiscal year ended July 31, 2010, compared to a net loss of approximately $3.5 million, or $0.07 per diluted share for the seven months ended July 31, 2009. The increase in net loss was attributable to non-cash amortization and impairment of the Company's advertising and marketing agreements in the amounts of approximately $657 thousand and $2 million, respectively, as well as non-cash unrealized losses recognized on the Company's marketable securities and outstanding liability warrants in the amounts of $290 thousand and approximately $4.0 million, respectively. Diluted earnings per share were calculated using a weighted average share count of 56.7 million for the fiscal year ended July 31, 2010, compared to 49.3 million for the short fiscal year period ended July 31, 2009.
Financial Condition
As of July 31, 2010, the Company had cash and cash equivalents of $289 thousand and working capital of approximately $1.3 million. Net cash used in operating activities for the twelve months ended July 31, 2010, was approximately $3.1 million, down from $3.2 million for the seven months ended July 31, 2009. Total liabilities and stockholders' deficit was $3.4 million as of July 31, 2010 versus total liabilities and stockholders' deficit of $3.5 million for the period ended July 31, 2009.
Business Outlook
"We are excited going into 2011 as we continue to bring together the brightest professionals and the best performing products to help Zurvita independent representatives take their businesses to the next level," said Mark Jarvis, Zurvita Co-Chief Executive Officer. "Zurvita is committed to the growth and success of our consultants and we are focusing our resources on bringing bold, new products to market as we prepare for our next National Conference, the 2011 'Freedom Crusade,' being held February 18th to February 21st in Houston, Texas at the Westin™ Galleria. Going forward, we are confident that we have the right team in place to position Zurvita for significant increases in sales and profits."
About Zurvita Holdings, Inc.
Zurvita is a dynamic direct-to-consumer marketing company offering high-quality products and services targeting individuals, families and small businesses. The company's highly differentiated services feature best in class consumer products and small business solutions through a growing network of independent sales consultants. Zurvita has rapid growth potential due to its experienced sales management team and its unique business-to-business strategy offering turnkey solutions for commercial and residential energy, advertising, telecommunications and financial services. For more information, please visit http://www.zurvita.com.
Follow Zurvita on Twitter at: http://twitter.com/Zurvita and on Zurvita's Facebook Fan Page at: www.facebook.com/Zurvita
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
- FINANCIAL TABLES FOLLOW -
ZURVITA HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the For the Seven
Year Ended Months Ended
July 31, July 31,
2010 2009
----------- -----------
REVENUES
Administrative websites $ 2,055,060 $ 513,908
Advertising sales 936,230 -
Commissions 479,225 65,876
Marketing fees and materials 1,911,851 1,269,768
Membership fees 923,654 964,897
----------- -----------
Total revenues 6,306,020 2,814,449
COST OF SALES
Benefit and service cost 1,577,858 412,676
Sales commissions 3,042,922 1,704,331
----------- -----------
Total cost of sales 4,620,780 2,117,007
GROSS PROFIT 1,685,240 697,442
OPERATING EXPENSES
Depreciation 35,555 19,722
Impairment loss on marketing agreement 2,000,000 -
Office related expenses 412,587 124,239
Payroll and employee benefits 1,887,185 758,164
Professional fees 1,276,437 1,409,565
Selling and marketing 2,949,708 1,878,349
Travel 206,967 66,285
----------- -----------
Total operating expenses 8,768,439 4,256,324
----------- -----------
Loss from operations before other income
(expense) (7,083,199) (3,558,882)
OTHER (EXPENSE) INCOME
Gain on change in fair value of share conversion
feature 131,413 -
Gain on settlement of liability - 38,700
Interest expense (270,919) (3,014)
Interest income 11,741 -
Loss on change in fair value of marketable
securities (290,000) -
Loss on change in fair value of warrants (3,980,580) -
Loss on debt restructure (50,000) -
----------- -----------
Total other (expense) income (4,448,345) 35,686
----------- -----------
Loss before income taxes (11,531,544) (3,523,196)
Income taxes (19,629) 19,144
----------- -----------
Net loss (11,511,915) (3,542,340)
=========== ===========
Basic and diluted loss per share $ (0.20) $ (0.07)
=========== ===========
Basic and diluted weighted average number of
common shares outstanding 56,711,644 49,307,924
=========== ===========
ZURVITA HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS
July 31, July 31,
2010 2009
----------- -----------
ASSETS
Current assets
Cash $ 289,442 $ 1,390,953
Marketable securities (at fair value) 480,000 -
Note receivable - related party 1,702,000 -
Accounts receivable 137,123 47,732
Agent advanced compensation 448,553 927,002
Deferred expenses 127,351 -
Deferred marketing costs - 657,400
Other assets 41,173
----------- -----------
Total current assets 3,225,642 3,023,087
Property, plant and equipment (net) 94,965 112,036
Agent advanced compensation - 271,344
Merchant account deposit 115,333 115,333
Other assets - 24,126
----------- -----------
Total assets $ 3,435,940 $ 3,545,926
=========== ===========
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable $ 249,762 $ 471,081
Accounts payable - related party 127,733 -
Notes payable - current 284,967 787,237
Accrued expenses 332,217 148,001
Deferred revenue 808,957 934,321
Deferred compensation - related party 110,238 -
Income tax payable 2,628 35,276
----------- -----------
Total current liabilities 1,916,502 2,375,916
Notes payable - long term 1,639,268 284,967
Fair value of share conversion feature 462,013 -
Fair value of warrants 6,370,000 549,780
----------- -----------
Total liabilities 10,387,783 3,210,663
----------- -----------
Redeemable preferred stock 4,550,747 1,211,000
Stockholders' deficit
Common stock ($.0001 par value, 300,000,000
shares authorized; 69,497,713 and 64,440,000
shares issued and 61,497,713 and 56,440,000
shares outstanding as of July 31, 2010 and
July 31, 2009, respectively) 6,950 6,444
Treasury stock (210,000) (210,000)
Additional paid-in capital 9,978,738 9,094,182
Accumulated deficit (21,278,278) (9,766,363)
----------- -----------
Total stockholders' deficit (11,502,590) (875,737)
----------- -----------
Total liabilities and stockholders' deficit $ 3,435,940 $ 3,545,926
=========== ===========
ZURVITA HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the For the Seven
Year Ended Months Ended
July 31, 2010 July 31, 2009
------------- -------------
Cash flows from operating activities
Net loss $ (11,511,915) $ (3,542,340)
Adjustments to reconcile net loss to net cash
used in operating activities:
Amortization of note payable discount 140,307 -
Amortization of deferred marketing costs 657,400 -
Depreciation 35,555 19,722
Share-based compensation 682,138 190,537
Gain on change in fair value of share
conversion feature (131,413) -
Gain on extinguishment of liabilities - 38,700
Loss on change in fair value of
marketable securities 290,000 -
Loss on change in fair value of warrants 3,980,580 -
Loss on debt restructure 50,000 -
Loss on impairment on marketing
agreement 2,000,000
Loss on legal settlement - 600,000
Changes in operating assets and
liabilities
Increase in accounts receivable (89,391) (36,771)
Decrease (increase) in agent advanced
compensation 749,793 (68,841)
Increase in legal retainer - 50,000
Increase in deferred expenses (127,351) -
Increase in other assets (17,047) (15,909)
Increase (decrease) in accounts payable
and accrued expenses 174,429 (269,558)
Decrease in deferred revenue (125,364) (151,355)
Increase in deferred compensation
related party 110,238 -
------------- -------------
Net cash used in operating activities (3,132,041) (3,185,815)
------------- -------------
Cash flows from investing activities
Purchase of promissory note (1,702,000) -
Purchase of property and equipment (18,484) -
Purchase of marketable securities (770,000) -
Funds obtained from reverse merger - 182
------------- -------------
Net cash provided by (used in) investing
activities (2,490,484) 182
------------- -------------
Cash flows from financing activities
Contributions of capital from The
Amacore Group, Inc. - 2,564,382
Net proceeds from borrowings - 523,190
Proceeds from exercise of warrants 30,282 -
Proceeds from sale of preferred stock 5,300,000 1,750,000
Proceeds from repurchase of common stock - (210,000)
Principal payments made on notes payable (809,268) (50,986)
------------- -------------
Net cash provided by financing activities 4,521,014 4,576,586
------------- -------------
Net change in cash balance (1,101,511) 1,390,953
Beginning cash 1,390,953 -
------------- -------------
Ending cash $ 289,442 $ 1,390,953
============= =============
Supplemental disclosure of cash flow
information
Cash paid for interest $ 33,435 $ 3,014
============= =============
Cash paid for taxes $ - $ -
============= =============
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Company Contact:
Zurvita Holdings, Inc.
Jason Post
Chief Financial Officer
Phone: 407.805.8900
jason.post@amacoregroup.com
Investor Relations Contact:
Hampton Growth Resources, LLC
Andrew W. Haag
Managing Partner
Phone: 877 368 3566
zrvt@hamptongrowth.com
Source: Marketwire (December 7, 2010 - 5:41 PM EST)
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Community National Bank Announces Eighth Branch, Located in Bayside, Queens
Branch to Offer Local Leadership and Personalized Attention
Dec. 7, 2010 (Business Wire) -- Community National Bank (CBNY.OB), the fastest growing commercial community bank in the NY Metro Area, proudly announces its plans to open its eighth branch. The new office will be located at 4301 Bell Boulevard, Bayside, Queens and is scheduled to open at the end of the first quarter, 2011.
“We are glad to be opening a full-service branch in Bayside so that we can deliver this neighborhood community banking at its finest,” said Stuart Lubow, President, Chairman and CEO of Community National Bank. “We are committed to providing our customers the means to achieve their financial goals and we do that by combining a wide array of deposit and loan products with state-of-the-art technology and unmatched personalized service. We look forward to offering our special brand of banking to the individuals and small and medium size businesses of northeastern Queens.”
Conveniently located in a 3,000 sq. ft. building one block from Northern Blvd. and only one and a half blocks from the LIRR Blvd. Station, the new CNB Bayside branch will feature a walk-up ATM, free online banking, merchant remote capture, a night deposit drop and safety deposit boxes. The bank will offer extended lobby hours and will be open seven days a week. The hours will be: Monday - Friday: 8:30am – 5:30pm, Saturday: 9am – 1pm, Sunday: 11am – 2pm.
In addition to its corporate office and full-service branch in Great Neck, CNB also has branch offices in Garden City, Woodbury, Oceanside, Huntington, New Hyde Park and Rockville Centre.
ABOUT COMMUNITY NATIONAL BANK
Community National Bank is a Long Island based independent, community, commercial bank and operates seven locations in Nassau and Suffolk counties. We offer a full range of modern financial services, backed by state-of-the-art technology. In addition to commercial loans, commercial mortgages, small business loans and lines of credit, residential mortgages, CNB also provides a complete selection of traditional personal and commercial deposit products such as no fee individual and business checking accounts, IRA accounts and statement savings. As a Small Business Administration (SBA) preferred lender, CNB also offers special loan and financial management programs designed to help small and medium-sized businesses succeed.
Community National Bank is a member of the FDIC and is an Equal Housing/Equal Opportunity Lender. For more information about Community National Bank contact Donna Frasco, Senior Vice President, Chief Retail Officer of Community National Bank at 516-498-9111 or visit the Bank’s website at www.cnbny.com.
Turchette Advertising
Alysa McKenna, 973-227-8080 , ext. 29
amckenna@turchette.com
or
Community National Bank
Stuart H. Lubow, 516-498-9111
Source: Business Wire (December 7, 2010 - 4:12 PM EST)
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Blugrass Energy, Inc. and Quad Energy Corp Execute LOI to Acquire 60% Working Interest in Blugrass Energy Inc.'s Eddy County Oil and Gas Properties
Dec. 7, 2010 (Marketwire) --
CALGARY, AB -- (Marketwire) -- 12/07/10 -- Blugrass Energy, Inc. (OTCBB: BLUG) and Quad Energy Corp have entered into a letter of intent to acquire a 60% working interest in Blugrass Energy Inc's Cave Pool Unit oil and gas properties. The working interest of Blugrass Energy's properties covers approximately 2800 acres, located within Eddy County, NM. Currently there are 32 wells, which could be re-worked and brought back potentially to producing status. Additionally, there are over 100 possible new drilling locations based upon 20 acre spacing. Water disposal would be handled via the Cave Pool Unit's injection well which decreases water hauling costs thus increasing the economics of the Cave Pool Unit.
The Cave Pool Unit is located within the Artesia Vacuum Trend, more specifically within the Grayburg Jackson Pool. The Artesia Vacuum Trend contains thirteen reservoirs with more than 1 MMBO historic cumulative production. Cumulative production from these 13 reservoirs was 796 MMBO as of 2000. Depths to the top of reservoirs range from 1290 to 4700 ft. This is a mature field, especially within the highly productive San Andres carbonates. Lower permeability in the Grayburg sandstones, in the Grayburg Jackson reservoir during the mid-1990's, has been successful to the point of reversing production decline and is a major focus of current and future development.
Under the terms of the LOI Quad Energy would pay up to $500,000 for Blugrass' 60% working interest in the Cave Pool Unit.
The Quad Energy is undertaking due diligence and will announce the signing of a definitive agreement in the event that one is signed.
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct
About Blugrass:
Blugrass Energy Inc. is a development stage oil and gas development and exploration company based in the United States that is traded on the Over the Counter Bulletin Board under the Symbol BLUG. The goal of BLUG is to grow through internally generated and developed prospects, participation with industry partners in oil and gas exploration and in targeted joint ventures.
Contact:
Blugrass Energy Inc.
Tony Collins
1-877-511-0110
Source: Marketwire (December 7, 2010 - 4:02 PM EST)
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Protalex, Inc. Announces 1 for 5 Reverse Stock Split and Preferred Stock Authorization
Dec. 7, 2010 (GlobeNewswire) --
SUMMIT, N.J., Dec. 7, 2010 (GLOBE NEWSWIRE) -- Protalex, Inc. (OTCBB:PRTX), a clinical stage biopharmaceutical company which is engaged in developing a class of drugs for treating autoimmune and inflammatory diseases, announced that a one-for-five reverse stock split of its shares of common stock and the authorization of a "blank-check" class of preferred stock will become effective as of 9:00 a.m. eastern time tomorrow, December 8, 2010.
Trading of the Company's common stock on the OTC Bulletin Board on a split-adjusted basis will begin at the open of trading tomorrow under the ticker symbol "PRTXD." After 20 trading days, the ticker symbol will revert to "PRTX."
In the reverse stock split, each stockholder will receive one share of common stock for every five shares of common stock held prior to the reverse stock split. All fractional shares will be rounded-up to the nearest whole share. The reverse stock split will reduce the number of shares of common stock outstanding from approximately 72 million to approximately 14.4 million.
About Protalex, Inc.
Protalex, Inc. is a clinical stage biopharmaceutical company engaged in developing a class of biopharmaceutical drugs for treating autoimmune and inflammatory diseases, including but not limited to, rheumatoid arthritis. Protalex's lead product PRTX-100, which is formulated with a highly-purified form of staphylococcal protein A, is currently undergoing a Phase 1b clinical trial on adult patients with active rheumatoid arthritis in South Africa to evaluate and assess, among other things, its safety and tolerability.
Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
CONTACT: Protalex, Inc.
Kirk M. Warshaw, CFO
(215) 862-9720
Source: Globe Newswire (December 7, 2010 - 4:05 PM EST)
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Blugrass Energy, Inc. and Quad Energy Corp Execute LOI to Acquire 60% Working Interest in Blugrass Energy Inc.'s Eddy County Oil and Gas Properties
Dec. 7, 2010 (Marketwire) --
CALGARY, AB -- (Marketwire) -- 12/07/10 -- Blugrass Energy, Inc. (OTCBB: BLUG) and Quad Energy Corp have entered into a letter of intent to acquire a 60% working interest in Blugrass Energy Inc's Cave Pool Unit oil and gas properties. The working interest of Blugrass Energy's properties covers approximately 2800 acres, located within Eddy County, NM. Currently there are 32 wells, which could be re-worked and brought back potentially to producing status. Additionally, there are over 100 possible new drilling locations based upon 20 acre spacing. Water disposal would be handled via the Cave Pool Unit's injection well which decreases water hauling costs thus increasing the economics of the Cave Pool Unit.
The Cave Pool Unit is located within the Artesia Vacuum Trend, more specifically within the Grayburg Jackson Pool. The Artesia Vacuum Trend contains thirteen reservoirs with more than 1 MMBO historic cumulative production. Cumulative production from these 13 reservoirs was 796 MMBO as of 2000. Depths to the top of reservoirs range from 1290 to 4700 ft. This is a mature field, especially within the highly productive San Andres carbonates. Lower permeability in the Grayburg sandstones, in the Grayburg Jackson reservoir during the mid-1990's, has been successful to the point of reversing production decline and is a major focus of current and future development.
Under the terms of the LOI Quad Energy would pay up to $500,000 for Blugrass' 60% working interest in the Cave Pool Unit.
The Quad Energy is undertaking due diligence and will announce the signing of a definitive agreement in the event that one is signed.
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct
About Blugrass:
Blugrass Energy Inc. is a development stage oil and gas development and exploration company based in the United States that is traded on the Over the Counter Bulletin Board under the Symbol BLUG. The goal of BLUG is to grow through internally generated and developed prospects, participation with industry partners in oil and gas exploration and in targeted joint ventures.
Contact:
Blugrass Energy Inc.
Tony Collins
1-877-511-0110
Source: Marketwire (December 7, 2010 - 4:02 PM EST)
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PNI Digital Media to Announce Fiscal 2010 Year-End and Fourth Quarter Financial Results and Host Conference Call on Tuesday, December 14th, 2010
Dec. 7, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/07/10 -- PNI Digital Media (TSX VENTURE: PN)(OTCBB: PNDMF) ("PNI" or the "Company"), the leading innovator in online and in-store digital media solutions for retailers, announced today that the Company will host a conference call on Tuesday, December 14th at 4:30pm ET (1:30pm PT) to discuss the Company's Fiscal 2010 year-end and fourth quarter financial results. Mr. Kyle Hall, Chief Executive Officer, Mr. Aaron Rallo, President and Chief Operating Officer and Mr. Simon Bodymore, Chief Financial Officer will host the call.
To join the call, please dial (888) 300-8196 (US/Canada) or (647) 427-3426 (International) and quote conference ID no. 23392363. Please call 10 minutes prior to the scheduled start time.
PNI Digital Media will also provide a live webcast and slide presentation, available on the Company's website at http://www.pnimedia.com/webcast. The presentation will be available for download for dial-in callers.
A press release announcing the Company's Fiscal 2010 year-end and fourth quarter financial results will be issued at 4:00pm ET (1:00pm PT) the same day, and simultaneously the Company's financial statements and MD&A will be available from http://www.pnimedia.com. An archived replay of the webcast will be saved for 45 days on the Company's website.
About PNI Digital Media - Founded in 1995, PNI Digital Media operates the PNI Digital Media Platform, which provides transaction processing and order routing services for major retailers. The PNI Digital Media Platform connects consumer-ordered digital content, whether from online, in-store kiosks, desktop software or mobile phones, with retailers that have on-demand manufacturing capabilities for the production of personalized products such as photos, photo books and calendars, business cards and stationery. PNI Digital Media successfully generates millions of transactions each year for retailers and their thousands of locations worldwide.
Further information on our company can be found at http://www.PNIMEDIA.com.
The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties. PNI Digital Media's actual results could differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in technology, employee retention, inability to deliver on contracts, failure of customers to continue marketing the online solution, competition, general economic conditions, foreign exchange and other risks detailed in the Company's annual report and other filings. Additional information related to the Company can be found on SEDAR at www.sedar.com and on the SEC'S website at www.sec.gov/edgar.shtml. The information contained herein is subject to change without notice. PNI Digital Media shall not be liable for technical or editorial errors or omissions contained herein.
The TSX Venture Exchange has neither approved nor disapproved the information contained in this release. PNI Digital Media relies upon litigation protection for "forward-looking" statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
PNI Digital Media Inc.
Simon Cairns
Investor Relations and Press Contact
866-544-4881
ir@pnimedia.com
www.pnimedia.com
Source: Marketwire (December 7, 2010 - 4:00 PM EST)
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