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CompuMed to Provide CardioGramKids and CompuBridge e-Health Services to Operation Samahan Community Clinics and School Health Centers
CompuMed to Provide CardioGramKids and CompuBridge e-Health Services to Operation Samahan Community Clinics and School Health Centers
Oct. 28, 2010 (GlobeNewswire) --
LOS ANGELES, Oct. 28, 2010 (GLOBE NEWSWIRE) -- CompuMed, Inc. (OTCBB:CMPD) (http://www.compumed.net), a telemedicine and medical informatics company, has entered into an agreement with Operation Samahan (http://www.operationsamahan.org) to provide CompuMed's CardioGramKids® electrocardiogram (ECG) telemedicine and CompuBridge™ electronic health record (EHR) services system wide to Operation Samahan's five community clinics and school health centers.
Operation Samahan operates one of the nation's leading community clinic organizations, providing San Diego County residents with nearly 50,000 patient visits per year at five community clinics and school health centers.
CompuMed's CardioGramKids Pediatric Screening Program provides ECG screening services to children and teenagers prior to taking psychotropic medications or participating in school or afterschool sports programs. CompuMed's CompuBridge service enables real-time integration of ECG and other data into a wide variety of EHR systems.
"We are very excited to partner with Operation Samahan to enhance the delivery of preventive medicine in San Diego County," said CEO Maurizio Vecchione. "With the extension of our school health center program into community clinics and our integration of ECG and EHR technologies, CompuMed remains at the forefront of ECG telemedicine. We are also well positioned to assist healthcare providers everywhere in making meaningful use of electronic health records technology in a way that is at once powerful and practical," Mr. Vecchione added.
CompuMed will provide Operation Samahan with the company's CardioGramKids ECG equipment and with over-reads performed remotely by CompuMed's pediatric cardiologists. CompuMed will also work with Operation Samahan to enable real-time integration of ECG results into their system wide EHR programs. ECG data combined with other personal diagnostic or treatment data in EHR systems can help alert physicians to a variety of significant health issues, including the cardiac impact of prescribed medications and other treatment regimens.
"We are very grateful to CompuMed for enabling us to provide our community clinic patients and local school children with state of the art ECG and EHR services that are both convenient and affordable," said Joel San Juan, CEO and Executive Director of Operation Samahan.
"The ability to access pediatric cardiologist overreads and integrate ECG and EHR data in such a practical manner greatly increases the range and scope of what we are able to provide here at the clinical level," said Operation Samahan Medical Director Maria T. Villa, M.D. "Our system wide deployment of CompuMed technology has the potential to result in a significant long-term reduction of morbidity and mortality associated with previously unrecognized cardiac conditions in our county's youth, particularly among the population we serve who may formerly have had limited access to such sophisticated services," added Dr. Villa.
For more information, visit CompuMed at http://www.compumed.net and follow at Twitter: @compumed.
About CompuMed
CompuMed, Inc. (OTCBB:CMPD) develops and markets products and services that combine advanced imaging with medical informatics. Its focus is on analysis and remote monitoring for patients with cardiovascular and musculoskeletal diseases. The company has specialized expertise and intellectual property in telemonitoring imaging and analysis designed to improve healthcare provider workflow and patient care while reducing costs. CompuMed is headquartered in Los Angeles and distributes its products worldwide both directly and through OEM partners.
Forward Looking Statements
Statements contained in this press release that are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth, results of contracts and other financial results, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including statements concerning the Company's plans, objectives, expectations and intentions are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are subject to uncertainties and risks including, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, product and service demand and acceptance, changes in technology, ability to raise capital, the availability of appropriate acquisition candidates and/or business partnerships, economic conditions, the impact of competition and pricing, capacity and supply constraints or difficulties, government regulation and other risks identified in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.
CONTACT: Tellem Worldwide
Susan Tellem
+1 310-313-3444
stellem@tellem.com
Source: Globe Newswire (October 28, 2010 - 8:00 AM EDT)
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GLOBAL UNIVERSAL'S "PLASTER ROCK" OFFICIALLY SELECTED TO FEATURE AT THE SILVER WAVE FILM FESTIVAL
GLOBAL UNIVERSAL'S "PLASTER ROCK" OFFICIALLY SELECTED TO FEATURE AT THE SILVER WAVE FILM FESTIVAL
Oct. 28, 2010 (World Stock Wire) --
Los Angeles, CA - (WORLD STOCK WIRE) - October 28, 2010 -- Global Entertainment (OOTC:GNTP) Holdings (OOTC:GAMT) , Inc. a publicly traded entertainment Company (OTCBB: GBHL), and its affiliate, Global Universal Pictures (NYSE:GE) (“Global Pictures”), was honored at a New Brunswick, Canada, entertainment luncheon, where it was announced that Plaster Rock -- Terror on the Tobique, had been officially selected, from among numerous quality films, as a feature presentation film at this year's Annual Silver Wave Film Festival. More information on the film, and the Plaster Rock trailer can be viewed at: www.plasterrockmovie.com.
This will be the Silver Wave ’s 10th Annual Film Festival, which selects feature films, documentaries and short films produced around the World, but highlights film makers in the New Brunswick area. CBC television is one of the sponsors of the film festival, and offers a lucrative distribution deal to selected winners.
The Fredericton News Channel in New Brunswick, Canada, covered the exclusive luncheon, which named its official selections from among more than 80 films in competition at this year's event, to be held November 4th in Fredericton. Global Universal Picture's film Director, Jackie Giroux, was featured in the Fredericton News Channel's coverage of the luncheon event (http://frederictonnewschannel.com/).
Plaster Rock was named an official selection based on its favorable reviews and the success of its limited theatrical release at The Grand Cinema Three in Grand Falls, New Brunswick, before it went to the prestigious Cannes International Film Festival in May, 2010.
Jackie Giroux, the film’s director, stated, “Last year we were honored to have our film, American Sunset, selected to officially open the Silver Wave Film Festival, and this year we thrilled with being honored once again having Plaster Rock featured as an official selection. This validates the quality of feature films that the Global Universal team can produce. Plaster Rock is our third feature film produced in less than two years, with our fourth film, “The Night”, currently in post-production, and already developing a following stemming from the film's cast, including a Hollywood newcomer and child star, Ian Hamrick, as well as Lalesha Railsback, daughter of well known actor Steve Railsback."
Global Universal is pleased to play such a distinguished role in the Silver Wave Film Festival, and looks forward to continue its production of quality feature films for the world to enjoy. Last year's opening film, American Sunset, starring the late Corey Haim, is now available on DVD only at www.AmericanSunsetTheMovie.com
Plaster Rock is an action packed thriller-horror film with humorous and egotistical characters. The story depicts eight young men and women, celebrities in their own mind, who are paid to compete in a cross-country skiing contest in the wilderness of northern New Brunswick, Canada. However, once left in the wilderness, they soon discover there is a hidden agenda behind this strange, but profitable outing. Each participant is led to believe they must be the superior, lone survivor in order to collect the lavish cash reward. The plot takes a spell binding twist when the participants begin to realize that they must collaborate together in order outsmart their mysterious host.
About Silver Wave Film Festival:
The Silver Wave Film Festival is jam packed with exciting film events and video programming with diversity and depth. The Festival is the brainchild of the board and staff at the New Brunswick Filmmakers’ Co-operative.
About Global Entertainment Holdings, Inc. (OTC: GBHL) is a publicly-held, entertainment company. The Company’s goal is to build a worldwide entertainment organization with a multitude of domestic and foreign production affiliates. GBHL, operating through its wholly owned subsidiaries, Global Universal Film Group, Inc., Global Universal Entertainment, Inc., and its partially-owned Canadian subsidiary Global Universal Pictures, is in the process of developing and producing a slate of motion pictures in Canada and the U.S., employing recognizable-named talent, for worldwide release.
GBHL is focused on the financing and marketing of these feature-length films. GBHL, through another wholly owned subsidiary, You’ve Got The Part, Inc. (www.youvegotthepart.com), will attempt to capitalize on the current popularity of Hollywood and reality based programming by casting small roles online that anyone with a digital camera can apply for.
Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions such as "may," "could," or "might" occur. Such statements reflect the current views of GBHL and its affiliated companies with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance and commercial appeal of its feature-length films, its film production services, competitive market conditions in the motion picture industry (both in the US and foreign markets), successful sale of the rights to film content produced, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Neither Global Entertainment Holdings, nor their affiliated or subsidiary entity undertakes any responsibility to update the "forward-looking" statements contained in this news release.
For More Information Visit us at WWW.GLOBALUNIVERSAL.COM or contact the Company by email at: contact@globaluniversal.com; or by fax at (818) 827-0090.
Gary Rasmussen, CEO
Global Entertainment Holdings
On the Raleigh Studios Lot
650 N. Bronson Suite B-116
Los Angeles, CA 90004
USA
Phone: 877-807-8880
Fax: 818-827-0090
Note: The following news is from Global Entertainment Holdings, and World Stock Wire, Inc. is not liable for the contents of this news.
Source: World Stock Wire (October 28, 2010 - 8:00 AM EDT)
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MacroSolve's Patented Platform-Agnostic Technology and ReForm XT to Transform Mobile App Landscape
MacroSolve's Patented Platform-Agnostic Technology and ReForm XT to Transform Mobile App Landscape
Offers Expanded Markets and Ease of Use for Developers and Non-Technical Users Alike
Oct. 28, 2010 (Marketwire) --
TULSA, OK -- (Marketwire) -- 10/28/10 -- Having been awarded a landmark mobile application patent, MacroSolve, Inc. (OTCBB: MCVE) (OTCQB: MCVE) announced today the availability of its patented technology and ReForm XT™ to a broad audience of mobile app developers, mobile device and tablet enthusiasts, and mobile app users spanning the mobility value chain from beginning to end.
MacroSolve's ReForm XT rapid mobile app development platform, based on the company's patented technology, addresses mobile information collection systems across all wireless networks, smartphones, tablets, and rugged mobile devices, regardless of carrier and manufacturer.
The mobile app environment is highly fragmented and developers are faced with a diverse set of device-specific programming platforms when building an app. As each platform requires a unique skill set, many developers resort to programming for a single device type, such as iPhone, Android, BlackBerry or WebOS. As a result, developers have been effectively limiting the potential size of their user base, while non-technical individuals looking to create and manage their own apps have limited options.
ReForm XT empowers a much broader base of users, from the technically savvy smartphone and tablet enthusiasts to people with no technical backgrounds, to create and manage their own business or even personal apps. These apps can be distributed across multiple device platforms. Platform agnostic apps address significantly larger markets and easily integrate mobility into core systems.
As MacroSolve enhances and licenses the ReForm XT platform, the company is positioned to be a major contributor and partner with the leading app stores including Google, Apple, RIM, GetJar and others.
Based on ReForm XT, MacroSolve already offers several business apps including ClubInsight™, SchoolInsight™, and DineInsight™ which can easily be customized and branded for any business. These apps, as well as the ReForm XT mobile app development platform are available for license.
"We are seeing increasing demand for our business mobility apps, the ReForm XT platform and we expect further traction for our mobility technologies through licensing. We're excited to be an integral part of the evolution of a soon to be $1 trillion industry," stated MacroSolve president and CEO Clint Parr.
For more information please visit www.goanyware.com, www.macrosolve.com, or www.illumemobile.com.
About MacroSolve
MacroSolve, Inc. is a pioneer in delivering mobile apps, technologies, and solutions to businesses and government. Founded in 1997, the company has an extensive network including the top name brands in wireless hardware and software as well as wireless carriers. Leveraging its intellectual property portfolio, MacroSolve is positioned to become the leader in delivering mobile business apps, a market projected to grow by double digits to an aggregate of $11.6 B by 2012. The company operates through its subsidiaries including Anyware Mobile Solutions (http://www.goanyware.com) and Illume Mobile (http://www.illumemobile.com). For more information, visit MacroSolve (http://www.macrosolve.com) or call 800-401-8740.
Safe Harbor Statement
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.
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Investor Contact:
Dilek Mir
(310) 591-5619
Email Contact
Company Contact:
April Sailsbury
(918) 388-3529
Email Contact
Source: Marketwire (October 28, 2010 - 8:00 AM EDT)
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Star Gold Corp. Explores Its Excalibur and Longstreet Projects in Nevada
Star Gold Corp. Explores Its Excalibur and Longstreet Projects in Nevada
Oct. 28, 2010 (Marketwire) --
POST FALLS, ID -- (Marketwire) -- 10/28/10 -- Star Gold Corp. (OTCBB: SRGZ) would like to inform shareholders of the recent field examination of its Excalibur and Longstreet Projects by Star Gold's entire management team during the week of October 11-15, 2010. These properties are located within the Walker-Lane belt of western Nevada between Reno and Las Vegas. The management group included Lindsay Gorrill - President, Scott Jenkins - Director and Geologist, Ed Ullmer - Director and Geologist, Kelly Stopher - Chief Financial Officer; along with MinQuest, Inc.'s management team Richard Kern, President and Geologist, Herb Duerr, Vice President and Geologist, as well as President of Gross Capital Investor Relations, Barry Gross. After an overview of the geology, mineralization and field conditions at the two sites, the team outlined a plan of general activities for additional exploration, development and financing.
The Company suspended (for the season) drilling on its Excalibur Property on its central target, an extension of the historic Moho Vein system, on June 17, 2010. The first and only hole drilled (EX 10-1) to date, was at an angle of -45 degrees due north to a depth of 230 feet. The hole was drilled to test several high-angle structures, as well as chalcedonic breccias. The hole encountered multiple clay rich structures throughout its length. The structures at surface range from 0.05 g/t gold and 1 g/t silver to 0.2 g/t gold and 17 g/t silver. The drill hole intersected two five foot intervals grading greater than 0.1 g/t gold which complemented the surface sampling. Interval 130-135 contained 0.215 ppm gold and 17.5 ppm silver. Interval 165-170 contained 0.213 ppm gold and 4.5 ppm silver. Although the assays are not economic, the intersections are meaningful. The drilling corroborates the surface sampling in this area. The drill hole also shows anomalous values of gold throughout its length suggesting a wider dispersion of metals may occur around the veins when stronger mineralization is encountered.
The Longstreet tour began with an overview of the primary targets on the project: Main, Opal Ridge, North, Spire, Red Knob and Cyprus Ridge. An introductory geologic discussion at the Main target site included the Tertiary tuff host rocks for the mineralization, which is common for all the targets, and the numerous geological similarities between Longstreet and the nearby Round Mountain open-pit heap leach deposit. The Main target has received the most attention both by historic mining and the later historic drilling of about 300 holes. The tentative resource calculated by MinQuest from the latest round of 30 holes at Main by a previous operator is 2,847,690 tons of undiluted ore at 0.061 oz/ton gold. Also stressed in the discussion was the deep oxidation of the gold-bearing tuff that makes the ore very susceptible for leaching and expeditious precious metal recovery. The oxidized blanket is present throughout most of the project area.
The team first examined the Main target and discussed the geologic and mineralogic significance of the Upper and Lower adits and underground workings that were developed for gold production in the 1920s along a number of the near-vertical gold-bearing vein structures. Next, the team proceeded on the access road to the Upper Main Adit across the hillside of welded, to partially welded, tuffs which host the gold- bearing structures here and on the other Longstreet targets. At, and near, the Upper Adit and along the road cuts, there are numerous near-vertical sheeted veins, trending northwest and east-west, which host gold mineralization. Also discussed was the evidence for the possible extensions of additional mineralized structures to the east and west of the Main zone. The high-angle sheeted veins could be examined well within the Upper Adit tunnel. The small pits dug for metallurgical samples by earlier prospectors were inspected near the top of the Main target zone. Again, the high-angle gold-bearing vein networks were present. The tour continued to the neighboring Opal Ridge target block that is adjacent to the Main area. This target occupies a downthrown block of the host tuff unit, thus, the Opal target is stratigraphically higher than the Main target tuff. The Opal Ridge block includes the remnants of a sinter cap that bears evidence for the ancient hot spring activity that has leached the tuff and deposited secondary silica, much of it chalcedony. Drilling on Opal will assess any differences of the mineralization character, alteration and stratigraphic controls due to the stratigraphically higher host rocks. A walking tour of the North target area provided a view of planned locations of future drill sites and the extent of high angle sheeted veins and veinlet swarms on outcrop which host gold similar to the Main target. The other precious metal targets have been less scrutinized but exhibit similar geology and mineralization controls. The Cyprus Ridge differs with its wide (up to 5m), gold bearing quartz veins (up to 11.6 g/t gold) occurring high in the hydrothermal system indicating the possibility of finding a boiling zone below with an attending dumping of higher grade gold values.
The Longstreet project reveals a potential for a large mineable area of low grade gold and silver ore similar to Round Mountain. At Main and North the mineralized fractures and smaller veinlets are sufficiently numerous and close together for the ore to be extracted by open-pit heap leach methods. The Main target mineralization has un-assessed potential beyond the known area historically drilled.
The Excalibur project is at the early stage of exploration by Star Gold, or any modern study, with only a brief period of recent historic exploration in the 1990s. Significant field work to date by the Company consists mostly of mapping and outcrop sampling to gain an understanding of the geology. There is little evidence of significant exploration by others over much of the property leaving a significant portion of the property open for additional discoveries.
The Excalibur tour began with a discussion of the project geology. The principal host rocks for the Excalibur mineralization are Permian clastic sediments, including chert, which have undergone low grade metamorphism. This sediment package has been intruded by two possible Cretaceous felsic intrusions. The area has been capped in part by Tertiary rhyolite tuff. The tuff and quartz monzonite have undergone argillic and phyllic alteration and can carry anomalous gold values.
The first stop on the tour was an overview of the South target area which hosts anomalous chert breccias and chalcedonic silicification. This mineralization lies just east of the Moho vein trend. Drill sites have been located to test several areas of anomalous gold and silver within parallel structures. These structures have been prospected by pits and adits for a distance of 2,500 feet along an east-west trending fault zone. This fault zone forms a geologic boundary a few hundred feet south of the property juxtaposing Permian age sediments against Tertiary age volcanic rock.
The team followed the access road northward to the Moho extension veins on the west side of the claim block and to the historic Moho mine workings and vein exposures on adjacent lands. The Moho mine had a short run of gold production many decades ago. Gold in this area occurs in quartz veins and breccias within fault zones and the veins have wide argillic alteration envelopes and zones of quartz-sericite-pyrite (phyllic alteration) and limonite. Dump assays ran up to 7.2 ppm gold. At the Moho extension target, the team visited several historic workings including shafts, pits and bull dozer cuts. Proposed drill holes are scheduled to test this area for high grade gold and silver where possible dilation zones occur. Further to the east the structure horse-tails into several parallel vein structures allowing the possibility of a wider zone of mineralization that may be amenable to open pit mining.
Next, the team visited the Excalibur target which lays north of the Moho Extension. At the Excalibur target scattered float containing abundant anomalous boulders with iron oxide and brecciated chert are common. Outcrops further up the hill at Excalibur target contain quartz veinlets, barite veins and associated gold values. This area comprises part of a broad zone of silicification and iron oxide staining. This target has been mapped and sampled on surface for over 4,500 feet in length and up to 1000 feet in width. Currently no access to the area exists. Star Gold will have to build a road in order to test the continuity of mineralization in this area.
The Excalibur project contains numerous faults and wide spread silica breccia zones containing anomalous gold and silver values. The considerable hydrothermal alteration associated with abundant structure has allowed mineralizing processes to occur throughout the property. The property has had little modern exploration. Star Gold's recent exploration efforts have identified several untested targets including areas of gold-rich silicified boulders within tallus fields and altered structures trending under alluvial cover.
Scott Jenkins, Director and Geologist of Star Gold Corp. stated, "We are encouraged by the findings of our current exploration of the Excalibur and Longstreet Projects. Both properties offer great potential upside for the Company's future resource reserve. Due to significant outcrop formations, it is the consensus of the group to move forward with metallurgical testing of the Longstreet Property and to make the site our first targeted project."
Richard Kern, President and Geologist of Minquest, Inc. stated, "The Longstreet Project has the potential to become a significant gold and silver producer as evidenced by the existing resource and numerous under explored targets. We are excited to begin our exploration program."
About Star Gold Corp.
Star Gold Corp. is a gold and base metal exploration company with the purpose of evaluating, developing and acquiring gold projects of merit with a focus on the United States, Canada and Mexico. At present, Star Gold is focused on the exploration and development of its Excalibur Project and Longstreet Project, in Nevada, USA.
Disclaimer
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Star Gold Corp (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
Investor Contact
Gross Capital, Inc.
Barry Gross
361-949-4999
stargold@grosscapital.com
Source: Marketwire (October 28, 2010 - 8:00 AM EDT)
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Verecloud Expands Management Team to Support Growing Position as a Cloud Services Broker
Verecloud Expands Management Team to Support Growing Position as a Cloud Services Broker
Oct. 28, 2010 (Business Wire) -- Verecloud (OTCBB:VCLD), which enables communications service providers (CSPs) to capture market share in the emerging cloud computing services business, announced today it has expanded its management team by promoting Brad Hoffman to vice president of business development and Russell Wurth to vice president of product management, effective immediately.
Hoffman joined Verecloud in August 2010 and had been Verecloud’s director of business development, bringing more than 15 years of experience in sales and marketing and more than 12 years in product leadership and technology deployments for major wireless and telecommunication providers including Verizon Wireless and Comment Cellular.
Wurth has been with Verecloud since 2007 and before his promotion was Director of Solutions Architecture. Before Verecloud, Wurth held solution architecture and software development positions at telecommunication and technology companies including Level 3 Communications, Qwest Communications International, Charter Communications and Intel.
"I'm delighted to welcome Brad and Russell to the senior team. Their extensive industry experience will play a pivotal role in the continued growth of Verecloud and the development and delivery of our Nimbus Xchange platform," said John McCawley, Verecloud’s chief executive officer. “Verecloud is at the forefront of helping CSPs drive new cloud-based revenue streams and adding depth to our management team is a major step forward."
About Verecloud
Based in Englewood, Colorado, Verecloud enables communications service providers (CSPs) to capture market share in the expanding and lucrative cloud computing market. Verecloud’s cloud services broker platform, Nimbus Xchange, addresses the CSPs’ need to integrate their cloud services business with existing back-office systems which enable CSPs to drive new revenue opportunities. By collaborating with Verecloud, CSPs are positioned to capture a significant percentage of this exciting market by playing a key role in the cloud services brokerage opportunity. Learn more about Verecloud at: http://www.verecloud.com.
Forward-Looking Statement
This release may contain projections and other forward-looking statements that involve risks and uncertainties. Forward-looking statements are projections reflecting management’s judgment and assumptions based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Future performance cannot be assured. Readers are referred to the documents filed by Verecloud with the Securities and Exchange Commission (SEC), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Recent documents filed with the SEC can be found in the Investor Relations section of our website (www.verecloud.com). Verecloud believes the forward-looking statements in this release are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this release. Verecloud is not obligated to publicly release any revisions to forward-looking statements to reflect events after the date of this release.
Verecloud
Investor Relations
Lynn Schlemeyer, 1-877-711-6492
lynn.schlemeyer@verecloud.com
or
Media Relations
Michael Hopkins, VisiTech PR
303-752-3552 ext 230
vc@visitechpr.com
Source: Business Wire (October 28, 2010 - 8:00 AM EDT)
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Bloggerwave Receives Continuing Support to Develop Technology and Business Growth
Bloggerwave Receives Continuing Support to Develop Technology and Business Growth
Oct. 28, 2010 (Marketwire) --
MOUNTAIN VIEW, CA -- (Marketwire) -- 10/28/10 -- Bloggerwave Inc. ("Bloggerwave") (OTCBB: BLGW), an innovative commercial blogging company, announced today that the Company has received, over the last three months, more than $200,000 from various investors to support the development of Bloggerwave's Version 2 technology and the expansion of the Company's U.S. client base.
Director Ulrik Thomsen stated, "We are very pleased that, even in this current market, loyal investors recognize the strength of Blogggerwave's vision, business plan, and innovative technology. As we develop expansive cost-effective social media capabilities that small and medium size businesses can afford, we are increasing our outreach to a broader range of U.S. companies. We believe that targeting our sales to small and midsize companies -- as well as to large national and international businesses which have been our traditional customers -- will give us greater financial flexibility going forward. With the continuing support of our investors, we are creating a strong technological and business platform for growth in 2011."
About Bloggerwave
Bloggerwave helps its corporate clients harness the power of the Internet by leveraging the power and credibility of blogs to promote products and services. It connects clients directly with thousands of pre-approved bloggers around the globe, giving the bloggers the opportunity to write about and review specific products or services and include a link to the company's website. Once a company is blogged about, it increases its Internet buzz, credibility, site hits, ranking on search engines -- and ultimately, its bottom line. Bloggerwave has shot to the top in just three years of operation, achieving status as the No. 1 company of its kind in Europe and one of the leaders in the U.S. market. Bloggerwave is now focusing on becoming the best among its U.S. competitors. The Company currently has offices in the United States and Europe, and a virtual presence worldwide.
Forward- Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.
For more information about Bloggerwave Inc. visit www.bloggerwaveinc.com or contact Stanley Wunderlich at (800) 625-2236 extension 7770 or info@cfsg1.com.
INVESTOR CONTACT
Stanley Wunderlich
Consulting For Strategic Growth 1, Ltd.
880 Third Ave, 6th Floor
New York, NY 10022
Telephone: (800) 625-2236 ext. 7770
Fax: (646) 205-7771
Email: Email Contact
Source: Marketwire (October 28, 2010 - 8:00 AM EDT)
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Norsat International Inc. Announces 2010 Third Quarter Financial Results
Norsat International Inc. Announces 2010 Third Quarter Financial Results
- Management to Host Conference Call at 9 a.m. Pacific Time -
Oct. 28, 2010 (Business Wire) -- Norsat International Inc. (“Norsat") (TSX: NII and OTC BB: NSATF), a leading provider of broadband communications solutions, announced today its financial results for the three- and nine-month periods ended September 30, 2010. All financial results are in U.S. dollars unless otherwise stated.
Q3 2010 Summary
• Total revenues were $4.5 million compared to $5.1 million in Q3 2009. Revenues were relatively flat for Microwave products of $2.2 million in the quarter ended September 30, 2010 compared to $2.3 million for the same period in 2009. Satellite systems sales were $2.2 million as compared to $2.7 million for the same period last year, due to the timing of the receipt of government orders at the end of the quarter.
• The overall gross margin of 47.6% is consistent with the 47.8% gross margin experienced in the same period in 2009. The Company continues to maintain management expectations of overall margin levels on an annual basis of approximately 50%.
• Net earnings for the three months ended September 30, 2010 were $0.6 million, in-line with $0.6 million for the same period last year.
• The Company's cash and cash equivalent balance as at September 30, 2010 was $5.6 million, an increase of $0.9 million from $4.7 million as at December 31, 2010.
• During the quarter ended September 30, 2010, the Company announced a Normal Course Issuer Bid to acquire up to 5.2 million common shares through the facilities of the Toronto Stock Exchange.
Dr. Amiee Chan, President and CEO, Norsat International Inc. stated, “Top line third quarter results were lower than one year ago but were due to the timing in receiving new orders, which were received very late in the third quarter. As a result, we do expect a strong fourth quarter, when majority of that backlog is anticipated to be delivered. We still managed to produce a highly profitable quarter despite the lower revenue level that was reported, which is a true testament to our disciplined cost structure and the fact that our margins remained relatively stable. Our capital structure remains strong and we intend to utilize these resources to grow the Company through inorganic means.
Financial Review
Overall sales in the third quarter of 2010 were 12.6% lower from the same period last year. The consistency in the microwave products helped offset a decrease in satellite systems sales in the third quarter. Overall sales for the quarter were $4.5 million down $0.6 million from the $5.1 million reported for the same period last year.
Sales of microwave products for the quarter were $2.2 million compared to $2.3 million in the same period in 2009. The sales activity during the current quarter is a sign that the microwave sector is stabilizing, despite the lack of activity from the broadcasting industry.
Sales of satellite systems for the second quarter were $2.2 million, down from the $2.7 million in sales for the same period in 2009. Satellite revenues were lower in the third quarter of 2010 due to the timing of US Department of Defense orders, which were received comparatively late in the quarter versus the prior year. The majority of the revenue from those contracts signed at the end of Q3 will be recognized in the fourth quarter of 2010.
The overall gross margin for the quarter ended September 30, 2010 was 47.6% compared to 47.8% for the same period in 2009. Margins realized from microwave products during the quarter were at 45.4%, compared to the 42.0% in the same period in 2009. Margin improvement resulted from the product sales mix, which consisted of higher end products and new product introductions, which command healthier margins. Margins from satellite systems were slightly lower during the quarter at 50.7%, as compared to 54.0% experienced during the same period in 2009.
Selling, general and administrative expenses for the three months ended September 30, 2010, decreased by $0.1 million to $1.3 million, as compared to $1.4 million for the same period in 2009. These decreases were part of ongoing cost containment measure implemented by management.
Total operating expenses for Q3 2010 were $1.5 million down from $1.8 million in Q3 2009. This decline in expenses is attributable to lower SG&A, product development and amortization costs.
For Q3 2010, net earnings were $0.6 million, or $0.01 per share, consistent with $0.6 million or $0.01 per share during Q3 2009.
Cash used in operating activities was $0.1 million in Q3 2010. At September 30, 2010, Norsat had cash and cash equivalents of $5.6 million, compared to $5.6 million as of June 30, 2010 and $2.8 million as of March 31, 2010. As of September 30, 2010, working capital improved to $13.5 million as compared to $11.0 million one year ago.
As at September 30, 2010, weighted average common shares outstanding diluted were 53,551,178.
A full set of financial statements and MD&A for Norsat are available at www.norsat.com or www.sedar.com.
Notice of Conference Call and Webcast
Norsat will host a conference call on October 28, 2010 at 9:00 a.m. Pacific Time. To access the conference call by telephone, dial (888) 947-3988 and use the conference call reference number: 032010. Please connect approximately ten minutes prior to the beginning of the call to ensure participation. A replay of the conference call will be available at http://norsat.com/investor-info/conference-call-recordings.
About Norsat International Inc.
Norsat International Inc., founded in 1977, is a leading provider of broadband communication solutions that enable the transmission of data, audio and video in remote and austere environments. Norsat's products and services include microwave components, portable satellite systems, maritime solutions, wireless network solutions, and equipment financing. Norsat also provides engineering consulting to meet customers’ specific needs. Additional information is available at www.norsat.com, via email at investor@norsat.com or by phone at 1-604-821-2808.
Forward Looking Statements
Statements in this news release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Norsat’s public filings with securities regulatory authorities.
This information should be read in conjunction with Norsat’s unaudited consolidated interim financial statements and related notes included therein for the quarter ended September 30, 2010, and the Management Discussion and Analysis for the quarter ended September 30, 2010. All of the company’s financial statements are prepared in accordance with Canadian generally accepted accounting principles (Canadian GAAP). Additional information may be found at www.norsat.com.
Norsat International Inc.
Dr. Amiee Chan, 604-821-2808
President & CEO
achan@norsat.com
or
Trevor Greene, 604-821-2845
Chief Financial Officer
tgreene@norsat.com
or
In the U.S.:
Wolfe Axelrod Weinberger Assoc. LLC
Adam P. Lowensteiner, 212-370-4500
adam@wolfeaxelrod.com
Source: Business Wire (October 28, 2010 - 8:00 AM EDT)
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Cornerstone Bancshares, Inc. Announces Preferred Stock Cash Dividend
Cornerstone Bancshares, Inc. Announces Preferred Stock Cash Dividend
Oct. 28, 2010 (Business Wire) -- Cornerstone Bancshares, Inc. (OTC Bulletin Board: CSBQ) today announced the following:
Cornerstone Bancshares, Inc.’s (“Cornerstone”) Board of Directors has approved distribution to preferred stock shareholders of record a dividend payable in cash. Cornerstone will pay a $0.625 cash dividend. The dividends will be issued to qualified shareholders* of record as of October 15, 2010, and will be paid November 15, 2010. The Federal Reserve Bank of Atlanta approved the payment of the dividend on October 22, 2010.
Cornerstone is a single-bank holding company serving the Chattanooga, TN MSA, with five full-service branches throughout Chattanooga and one loan production office in Dalton, GA, and $480 million in assets, specializing in business financial services.
* The dividend is for eligible preferred shareholders with stock issued as of August 31, 2010 or before.
Cornerstone Bancshares, Inc.
Frank Hughes, President & CEO, 423-385-3009
Fax: 423-385-3100
fhughes@cscbank.com
Source: Business Wire (October 28, 2010 - 8:00 AM EDT)
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Alto Group Holdings Announces Gold Market Conditions and Production Mandate
Alto Group Holdings Announces Gold Market Conditions and Production Mandate
Oct. 28, 2010 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 10/28/10 -- Alto Group Holdings, Inc. (OTCBB: ALTO) ("Alto Group" or the "Company") an innovative mining and commodities trade company headquartered in New York, announces gold market conditions and production mandate.
President and CEO Mark Daniel Klok stated, "With the world concerned with fiat currencies, devaluations and growing depreciation of the U.S. dollar these trending characteristics continue to identify gold as an alternative safe haven investment capable of strong upside value and assets in which Americans and the global community alike ultimately is placing their confidence and investment capital into daily. I feel that there is major potential for a large rise in gold value in the longer term if the U.S. Dollar resumes showing weakness and its continued decline. The potential exists for gold to rise possibly as high as $1,500 or even $2,000 in the near term as gold continues its uptrend and more of the investing public moves its dollars toward emerging gold exploration and near term production companies."
Management has issued a mandate to its operations team to deploy personnel to high grade gold prospect locations, complete final mine plans and begin production with the next 60 days.
Additionally Mark Daniel Klok stated, "I have personally made previous gold production attempts under extreme conditions, failed partnerships, mechanical failure and the 2008 Guinean coup d'état. Despite these harsh experiences and in the face of public scrutiny I have taken the last 6 months to carefully regroup, assemble a capable operations team and I'm proud to announce that we are going to produce gold and complete a series of strategic acquisitions over the next 60 days."
"Noli sinere nothos te opprimere"
Please visit the company website for details on projects at www.altomines.com
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. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. 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 petroleum exploration and development stage exploration companies. 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 most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Alto Group Holdings, Inc.
- - - - - - - - - - - - -
Mark Daniel Klok
President and CEO
Add to Digg Bookmark with del.icio.us Add to Newsvine
Kevin A. Mercuri
Propheta Communications
212-901-6914 Ext. 701
Email Contact
Source: Marketwire (October 28, 2010 - 8:00 AM EDT)
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Solar Park Initiatives, Inc. Investor Update
Solar Park Initiatives, Inc. Investor Update
Oct. 28, 2010 (Marketwire) --
PONTE VEDRA BEACH, FL -- (Marketwire) -- 10/28/10 -- Solar Park Initiatives, Inc. (OTCBB: SOPV), a Florida-based solar energy company dedicated to utility and commercial solar park developments in North America, will provide a recap of company milestones as follows:
On 8-30-10 Solar Park Initiatives, Inc. received approval from the Financial Industry Regulatory Authority (FINRA) to begin trading on the NASDAQ OTC under the trading symbol SOPV. Solar Park Initiatives, Inc. became a fully-reporting, publicly-traded company.
On 9-20-10 Solar Park Initiatives, Inc. announced the acquisition of Maple Leaf Renewables Group, Inc. and its developing project pipeline assets in Texas and California
On 9-27-10 the company announced that it had signed a Letter of Intent to build a solar park on 285 acres of land in California. Solar Park Initiatives will be involved in the design, construction and operation of the solar park which could generate up to $70 million in revenues, depending on completed funding and project development.
On 9-30-10 Solar Park Initiatives CEO discusses, "Grid Parity." David Surette, CEO of the company, stated, "Our current cost structure for engineering, procurement, and construction (EPC) and operations and maintenance allows us to create electricity from solar energy at grid parity pricing in certain parts of the country. Manufacturers are quickly approaching a $1 per watt manufacturing cost."
On 10-12-10 the company announced that it had signed a Letter of Intent to build up to a One Gigawatt solar park in California. The project is planned on a 5,000 acre parcel and could generate up to $3.5 Billion in revenue depending on completed funding and project development.
Mr. Surette, CEO, goes on to state, "California now has the most ambitious renewable electricity standard (RES) in the country requiring 33% of their energy from renewable sources by the year 2020. We are positioning the company to become a significant contributor to the creation of electricity from solar in California and other states where Power Purchase Agreements (PPAs) with local utilities will allow the company to create long-term revenue streams. Recently the Federal Energy Regulatory Commission (FERC) announced a decision clearing the way for multi-tiered State feed-in tariffs in the United States, Solar Park Initiatives is very optimistic about the company's ability to benefit from this FERC decision. The announcement mentions that California consumes about 300 TeraWatts (TWh) or 300 Trillion Watts per year. For more information on the FERC decision, go to: http://www.windtoday.net/articles/Report__FERC_Decision_Clears_Way_For_Multi_Tiered_
State_Feed_In_Tariffs_In_United_States-100469.html."
He continued, "As the push from Federal and State governments for more clean energy increases, we will be ready to move forward to seize the opportunities as they become more numerous. We are excited about the projects that we are working on, especially in California, and will continue to work towards growing our pipeline of solar park projects."
Solar Park Initiatives, Inc. Business Strategy
Solar Park Initiatives intends to develop land for large utility scale solar photovoltaic ("PV") projects. The Company will provide engineering, procurement of products and construction ("EPC") via third party suppliers including its sister company Solar Energy Initiatives, Inc. SOPV will attempt to sell the resultant electrical production to various utilities and large commercial entities through a Power Purchase Agreement ("PPA"). The Company expects to provide energy savings to commercial and municipality users without any out of pocket engineering, procurement or construction ("EPC") costs to those users of energy.
Forward-Looking Statements
This press release contains forward-looking statements that reflect current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made 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. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of the companies and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The companies assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the companies' expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the companies from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
Contact Information:
David J. Surette
CEO
904-644-6090
www.solarparkinitiatives.com
Investor Relations:
Jeff Wagner
Email Contact
970-372-8934
Source: Marketwire (October 28, 2010 - 7:30 AM EDT)
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AlumiFuel Power Corporation Plans $7.5 Million Financing Through Subsidiary AlumiFuel Power International, Inc.
AlumiFuel Power Corporation Plans $7.5 Million Financing Through Subsidiary AlumiFuel Power International, Inc.
Oct. 28, 2010 (Marketwire) --
CENTENNIAL, CO -- (Marketwire) -- 10/28/10 -- Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company"), announced today that it has entered into a Memorandum of Understanding with ARG Vermogensverwaltung AG ("ARG"), a German wealth management company, for facilitating a financing of approximately $7.5 million through the sale of common stock of its majority-owned subsidiary, AlumiFuel Power International, Inc. ("AlumiFuel International"). AlumiFuel International recently completed its listing on the Deutsche Börse-Frankfurt Stock Exchange trading under the symbol ("9AP") in the Open Market segment. AlumiFuel International's shares are not convertible into AFPW shares on any U.S. exchange.
AlumiFuel International is operated by the same management team as the Company's wholly-owned operating subsidiary, AlumiFuel Power, Inc. ("API"), based in Philadelphia, Pennsylvania, and is focused on marketing the Company's hydrogen generation products to countries outside of North America.
"This Memorandum of Understanding is the first step in our goal to broaden our reach outside of North America and provide access to capital for expansion of our product development and marketing activities," stated Company Chief Executive, Henry Fong. "While we must still conduct further due diligence, negotiate and execute definitive agreements and complete other customary procedures for the transaction, we believe this can be accomplished in a relatively short time-frame for a deal of this nature. The creation of AlumiFuel International and this funding, if successfully completed, will allow us to expand our reach internationally and raise significant capital to fund our operations without issuing new AFPW shares."
About AlumiFuel Power, Inc.
API (www.alumifuelpowerinc.com) is an early production stage alternative energy company that generates hydrogen gas and superheated steam through the chemical reaction of aluminum, water, and proprietary additives. This technology is ideally suited for multiple niche applications requiring on-site, on-demand fuel sources, serving National Security and commercial customers. API's hydrogen feeds fuel cells for portable and back-up power, fills inflatable devices such as weather balloons, and can replace costly, hard-to-handle and high pressure K-Cylinders. Its hydrogen/heat output is also being designed and developed to drive turbine-based underwater propulsion systems and auxiliary power systems, and as the fuel for Flameless Ration Heaters. API has significant differentiators in performance, adaptability, safety and cost-effectiveness in its target market applications, with no external power required and no toxic chemicals or by-products. For more news and information on API, please visit www.irgnews.com/coi/AFPW.
About AlumiFuel Power International, Inc.
AlumiFuel International holds a license agreement with the Company and API to market API's hydrogen generation products globally to countries outside of North America.
About AlumiFuel Power Corporation
AlumiFuel Power Corporation operates through its wholly owned subsidiary, AlumiFuel Power, Inc., a Philadelphia-based early production stage alternative energy company that generates hydrogen gas and steam for multiple niche applications requiring on-site, on-demand fuel sources. The Company also operates through its majority owned subsidiary, AlumiFuel Power International, Inc., to market its products globally outside of North America. The Company owns 40,000,000 shares of AlumiFuel International common stock.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
CONTACTS:
Investor Relations:
AlumiFuel Power Corporation
Thomas B. Olson
Corporate Secretary
303-796-8940
Public Relations:
The Investor Relations Group (IRG)
Mike Graff
212-825-3210
Technical Information & Marketing:
API Laboratories
3711 Market Street, Suite 950
Philadelphia, PA 19104
215-921-9203
Email Contact
Source: Marketwire (October 28, 2010 - 7:15 AM EDT)
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NeoGenomics Reports Third Quarter 2010 Results
NeoGenomics Reports Third Quarter 2010 Results
Oct. 28, 2010 (PR Newswire) --
FT. MYERS, Fla. -- NeoGenomics, Inc. (OTC Bulletin Board: NGNM), a leading provider of cancer-focused genetic testing services today reported its results for the third quarter 2010.
Third Quarter 2010 Highlights:
Revenue growth of 19 % vs. Q3 2009
Test volume growth of 29% vs. Q3 2009
Average revenue/test increased by 2.5% sequentially vs. Q2 2010
Completed implementation of next generation laboratory information system
Revenue for the three months ended September 30, 2010 was $8.7 million, a 19% increase over the $7.3 million reported in the third quarter 2009. Test volume increased by approximately 29% over the comparable quarter last year. After adjusting for the impacts caused by internalization of bladder cancer FISH testing and immunohistochemistry testing by the Company's largest client beginning in mid 2009, revenue and test volume growth from all other clients was approximately 24% and 42%, respectively. Average revenue per test stabilized in the third quarter at approximately $601, marking the first quarterly sequential increase in over a year.
Sales and marketing expenses increased by approximately $190,000, or 11% over last year, driven primarily by an increase in the number of sales and marketing personnel and sales recruiting expenses. General and administrative expenses increased by approximately $461,000, or 19%, primarily as a result of additional information technology personnel, R&D activities, and to approximately $100,000 of non-recurring charges related to a reduction in force that was completed in September. The Company estimates that this reduction in force will result in approximately $1.5 million of annual savings which will begin to take effect in the fourth quarter. Net loss for the quarter was $1.2 million or ($0.03)/share versus a net loss of $755,000 or ($0.02)/share in the third quarter 2009.
Doug VanOort, the Company's Chairman and CEO, commented, "Although our financial results don't fully reflect the improvements in our business yet, we believe the company is in a stronger position today than ever before. During the last quarter, we made significant changes in our management team, successfully converted our entire laboratory information system, and implemented changes to reduce our cost structure. We are continuing to implement initiatives to increase our sales force productivity, and with important managed care plans now under contract, we are beginning to experience price stabilization. It is also significant to note that the impact from the internalization of over $4.0 million annually of high margin revenue by the company's largest customer is now fully behind us. Moving forward, we expect to grow from a more stable base of revenue and our team is focused on driving sustainable revenue growth and achieving profitability."
The Company also announced today that it expected to return to positive Adjusted EBITDA(1) in the fourth quarter and released preliminary guidance for 2011 of approximately $41 to $45 million of revenue and $3.0 to $5.0 million of Adjusted EBITDA. This guidance is based on organic growth in the current business, and the Company reserves the right to adjust this guidance at any time as a result of acquisitions or other strategic initiatives that it may undertake and/or based on the ongoing execution of its business plan. Current and prospective investors are encouraged to perform their own due diligence before buying or selling any of the Company's securities, and are reminded that the foregoing estimates should not be construed as a guarantee of future performance.
(1) Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization, and non-cash stock-based compensation expenses.
Conference Call
The Company has scheduled a web-cast and conference call to discuss their Q3 2010 results on October 28, 2010, at 11:00 AM EDT. Interested investors should dial (877) 407-8033 (domestic) and (201) 689-8033 (international) at least five minutes prior to the call. A replay of the conference call will be available until 11:59 PM EST on November 4, 2010 and can be accessed by dialing (877) 660-6853 (domestic) and (201) 612-7415 (international). The playback conference ID number is 359479 and the playback account/PIN number is 286. The web-cast may be accessed under the Investor Relations section of our website at http://www.neogenomics.com or http://www.investorcalendar.com/IC/CEPage.asp?ID=162190. An archive of the web-cast will be available until 11:59 PM EST on January 27, 2011.
About NeoGenomics, Inc.
NeoGenomics, Inc. is a high-complexity CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing, the fastest growing segment of the laboratory industry. The company's testing services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, morphology studies, anatomic pathology and molecular genetic testing. Headquartered in Fort Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA and Fort Myers and services the needs of pathologists, oncologists, urologists, and hospitals throughout the United States. For additional information about NeoGenomics, visit http://www.neogenomics.com.
For more news and information on NeoGenomics, please visit www.IRGnews.com/coi/NGNM where you can find a fact sheet on the company, investor presentations, and more. Interested parties can also access additional investor relations material, including an investment profile and an equity research report, from Hawk Associates at http://www.hawkassociates.com or from the American Microcap Institute at http://www.americanmicrocapinstitute.com/ngnm/.
Forward Looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. These forward looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward looking statements, Actual results could differ materially from such statements expressed or implied herein. Factors that might cause such a difference include, among others, the company's ability to continue gaining new customers, offer new types of tests, and otherwise implement its business plan. As a result, this press release should be read in conjunction with the company's periodic filings with the SEC.
NeoGenomics, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
ASSETS
September 30, 2010
December 31, 2009
(unaudited)
Cash, cash equivalents
$
1,555
$
1,631
Restricted Cash
500
1,000
Accounts Receivable (net of allowance for doubtful
accounts of $1,281 and $589, respectively)
5,630
4,632
Other Current Assets
1,500
1,257
TOTAL CURRENT ASSETS
9,185
8,520
PROPERTY AND EQUIPMENT (net of accumulated
depreciation of $4,084 and $2,787, respectively)
5,010
4,340
OTHER ASSETS
86
85
TOTAL
$
14,281
$
12,945
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
$
9,517
$
5,776
LONG TERM LIABILITIES
1,389
1,526
TOTAL LIABILITIES
10,906
7,302
STOCKHOLDERS' EQUITY
3,375
5,643
TOTAL
$
14,281
$
12,945
NEOGENOMICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)
For the Three-Months Ended September 30,
For the Nine-Months Ended September 30,
2010
2009
2010
2009
NET REVENUE
$
8,708
$
7,297
$
25,616
$
21,670
COST OF REVENUE
4,818
3,672
13,737
10,147
GROSS PROFIT
3,890
3,625
11,879
11,523
OPERATING EXPENSES
General and administrative
2,919
2,458
8,590
7,013
Sales and marketing
1,983
1,793
5,689
4,850
Total operating expenses
4,902
4,251
14,279
11,863
LOSS FROM OPERATIONS
(1,012)
(626)
(2,400)
(340)
INTEREST AND OTHER INCOME (EXPENSE) - NET
(186)
(129)
(526)
(374)
NET LOSS
$
(1,198)
$
(755)
$
(2,926)
$
(714)
NET LOSS PER SHARE
- Basic and diluted
$
(0.03)
$
(0.02)
$
(0.08)
$
(0.02)
WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING
- Basic and diluted
37,376,676
36,000,941
37,302,046
33,782,925
The following is a reconciliation of GAAP net income to Non-GAAP EBITDA and Adjusted EBITDA.
For the Three-Months Ended September 30,
For the Nine-Months Ended September 30,
2010
2009
2010
2009
Net loss
$
(1,198)
$
(755)
$
(2,926)
$
(714)
Adjustments to Net Loss:
Interest expense (income), net
179
129
513
374
Income tax expense
7
-
13
-
Depreciation and amortization
459
311
1,297
814
EBITDA (1)
(553)
(315)
(1,103)
474
Further Adjustments to EBITDA:
Non-cash stock-based compensation
155
143
595
344
Adjusted EBITDA
(398)
(172)
(508)
818
(1) Earnings before interest, taxes, depreciation and amortization.
NeoGenomics, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
For the
Nine Months Ended
September 30, 2010
For the
Nine Months Ended
September 30, 2009
NET CASH USED IN OPERATING ACTIVITIES
$
(2,413)
$
(1,046)
NET CASH USED IN INVESTING ACTIVITIES
(813)
(432)
NET CASH PROVIDED BY FINANCING ACTIVITIES
3,150
4,138
NET INCREASE IN CASH AND CASH EQUIVALENTS
(76)
2,660
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
1,631
468
CASH AND CASH EQUIVALENTS, END OF PERIOD
$
1,555
$
3,128
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid
$
484
$
335
Income taxes paid
$
13
$
-
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Equipment leased under capital lease and equipment loans
$
1,419
$
1,064
Equipment purchased and included in accounts payable
$
-
$
680
Equipment purchased and payables settled with issuance of restricted common stock
$
-
$
186
NeoGenomics, Inc.
Supplemental Information on Customer Requisitions Received and Tests Performed
(in thousands, except test and requisition amount)
For the
Three-Months
Ended
September 30,
2010
For the
Three-Months
Ended
September 30,
2009
% Inc
(Dec)
For the
Nine-Months
Ended
September 30,
2010
For the
Nine- Months
Ended
September 30,
2009
% Inc
(Dec)
Requisitions Rec'd (cases)
9,677
7,555
28.1%
28,833
23,065
25.0%
Number of Tests Performed
14,477
11,188
29.4%
42,983
32,961
30.4%
Avg. # of Tests / Requisition
1.50
1.48
1%
1.49
1.43
4.3%
Total Testing Revenue
$8,708
$7,297
19.3%
$25,616
$21,670
18.2%
Avg Revenue/Requisition
$ 899.82
$ 965.82
(6.8%)
$ 888.42
$ 939.50
(5.4%)
Avg Revenue/Test
$ 601.48
$ 652.20
(7.8%)
$ 595.95
$ 657.43
(9.4%)
SOURCE NeoGenomics, Inc.
Steven C. Jones, Director of Investor Relations of NeoGenomics, Inc., +1-239-325-2001, sjones@neogenomics.com; or Ms. Julie Marshall of Hawk Associates, Inc. +1-305-451-1888, neogenomics@hawkassociates.com; or Investor Relations, Dillon Heins, +1-212-825-3210, dheins@investorrelationsgroup.com, or Media Relations, Janet Vasquez, +1-212-825-3210, jvasquez@investorrelationsgroup.com, both of The Investor Relations Group
Source: PR Newswire (October 28, 2010 - 7:01 AM EDT)
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PolyMedix to Present at the Oppenheimer Annual Healthcare Conference
PolyMedix to Present at the Oppenheimer Annual Healthcare Conference
Oct. 28, 2010 (Business Wire) -- PolyMedix, Inc. (OTCBB: PYMX), a biotechnology company focused on developing new therapeutic drugs to treat acute infectious diseases and cardiovascular disorders, announced today that Nicholas Landekic, the Company’s President & CEO will present at the Oppenheimer & Co. 21st Annual Healthcare Conference on Tuesday, November 2, 2010 at 1:35 p.m. Eastern Time. The conference is being held at the Waldorf-Astoria Hotel in New York City.
A live webcast of Mr. Landekic’s presentation will be available at http://www.veracast.com/webcasts/opco/healthcare2010/90109455.cfm or on the Company’s website at www.polymedix.com. A replay will be available on both sites for 90 days following the event.
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™, which are intended for use in antimicrobial biomaterials applications s 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, PolyMedix’s compounds may not successfully complete 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
Director, Investor Relations & Corporate Communications
484-598-2406
lcaperelli@polymedix.com
Source: Business Wire (October 28, 2010 - 7:01 AM EDT)
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Avantair, Inc. to Present at November Investor Conferences
Avantair, Inc. to Present at November Investor Conferences
Oct. 28, 2010 (GlobeNewswire) --
CLEARWATER, Fla., Oct. 28, 2010 (GLOBE NEWSWIRE) -- Avantair, Inc. (OTCBB:AAIR), the industry leader of fractional aircraft ownership and flight hour time cards in the light-jet cabin category and the only publicly traded stand-alone private aircraft operator, today announced that Chief Executive Officer Steven Santo will present at the following November investment community conferences:
Singular Conference on November 4, 2010 at 4:20 p.m. Eastern time (1:20 p.m. Pacific time) at the Luxe Sunset Bel Air in Beverly Hills, Calif.
Maxim Conference on November 18, 2010 at 4:00 p.m. Eastern time (1:00 p.m. Pacific time) at the Grand Hyatt in New York.
Mr. Santo will provide a Company overview as well as discuss recent developments and industry trends at the conferences. A audio webcast of the presentation and accompanying slides will be available under the "Events Calendar" on the "Investors" section of Avantair's website at: http://www.avantair.com/event-calendar.html
ABOUT AVANTAIR
Avantair, the sole North American provider of fractional shares, flight time cards and Axis Club Membership in the Piaggio Avanti aircraft, and the only publicly traded stand-alone private aircraft operator, is headquartered in Clearwater, FL, with approximately 450 employees. The Company offers private travel solutions for individuals and businesses traveling within its service area, which includes the continental United States, Canada, the Caribbean and Mexico, at a fraction of the cost of whole aircraft ownership. The Company currently manages a fleet of 55 aircraft, with another 52 Piaggio Avanti aircraft on order through 2013. For more information about Avantair, please visit: www.avantair.com.
CONTACT: The Piacente Group, Inc.
Investor Relations Contact:
Brandi Floberg
212-481-2050
aair@tpg-ir.com
Source: Globe Newswire (October 28, 2010 - 7:00 AM EDT)
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And the Regional Winners of SUBWAY FRESH ARTISTS(TM) Competition Are...
And the Regional Winners of SUBWAY FRESH ARTISTS(TM) Competition Are...
SUBWAY(R) Restaurants, Clear Channel Radio and OurStage.com
Competition to Help Discover Emerging Artists Progresses to the National
Finals
Oct. 28, 2010 (Business Wire) -- Clear Channel Radio (OTCBB:CCMO):
WHAT:
To support new music discovery and up-and-coming artists, Clear Channel Radio, in collaboration with OurStage.com, partnered with the SUBWAY® restaurants chain to kick off a nationwide campaign and competition called SUBWAY FRESH ARTISTS™ that began on September 10th. And the votes for the regional winners are in!
Each of the ten regional winners will receive up to $500 in SUBWAY® Cards ($50 per each band member) and $1,000 cash prize. In addition, the 10 regional winners and their winning songs are now posted on OurStage.com’s blog and linked to iheartradio’s “NEW! Discover & Uncover” platform.
The submissions were designed to cater to morning drive radio listeners to help jump start their day and complement SUBWAY®’s “Build Your Better Breakfast” campaign. The competition provided an engaging complement to the significant consumer marketing campaign the SUBWAY® brand is deploying through radio spots on Clear Channel stations, digital ads on Clear Channel radio station websites, as well as the iheartradio digital platform.
The top fifty ranked artists from each of the ten regions were automatically entered into the SUBWAY FRESH ARTISTS™ National Competition in October for the opportunity to be awarded the Grand Prize. A panel of Clear Channel Radio programmers, Subway executives and the Goo Goo Dolls will select one lucky grand prize winner from the top 20 ranked artists at the end of the National Competition. The final winner will get the chance to be the opening act at a future Goo Goo Dolls concert, plus a $1,000 cash prize, a session with a professional song writer, and additional assistance to develop their careers.
WHO:
The 10 regional winners are:
Artist
Song
Region
Darlingside Good Man NH, VT, MA, RI, ME, CT
Devlin Miles You and Me NY, PA, NJ
Derren Raser Warn The World WI, IL, IN, OH, MI
Cedar Avenue Up North ND, SD, MN, IA, NE, KS, MO
Crash Coordinates The Scandal MT, ID, WY, NV, UT, CO, AZ, NM
Again and Again Excuse This Honesty HI, AK, WA, OR
August Rising Lay Your Hands On Me CA
Snow Like It's April Love and War TX, OK, AR, LA
hellokelly Better Now Together MS, AL, TN, KY
Runaway City Fade DE, MD, DC, VA, WV, NC, SC, GA, FL
HOW:
The country was divided into 10 regions and the public casted their votes for their top 50 favorite artists/bands from each region. A panel of Clear Channel Radio programming directors then chose one winner in each region to produce the 10 regional winners.
WHERE:
The public voted for their fan favorites via the iheartradio network, Clear Channel Radio web sites and OurStage.com.
WHEN:
The regional winners were announced today. The one national winner will be announced on November 15.
For Clear Channel:
Brainerd Communicators, Inc.
Maggie Duquin Nolan, 212-986-6667
duquin@braincomm.com
or
Sharon Oh, 212-986-6667
oh@braincomm.com
or
For SUBWAY® Restaurants:
Rob Bronfeld, 212-714-7909
rbronfeld@catalystpublicrelations.com
or
For OurStage.com
Erik Stein, 213-639-6162
estein@solters.com
Source: Business Wire (October 28, 2010 - 7:00 AM EDT)
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CHDT Signs Consumer Products Agreement With Network to Offer Products on TV
CHDT Signs Consumer Products Agreement With Network to Offer Products on TV
Oct. 28, 2010 (Marketwire) --
DEERFIELD BEACH, FL -- (Marketwire) -- 10/28/10 -- Capstone Industries, Inc., a wholly owned subsidiary of CHDT Corporation (OTCBB: CHDO) announced today the signing of a joint venture agreement with Valcom Inc. and their network, My Family TV. Capstone will provide Valcom with a select group of its consumer products to be offered on direct response commercials and/or infomercials with the two parties sharing profits from sales. Valcom will begin producing 60 second and 120 second direct response adds to be broadcast on the My Family TV network which has over 85 network affiliates and reaches over 25 million homes.
Valcom, a diversified, fully integrated, independent entertainment company has begun script writing and shooting is expected at the beginning of November with commercials anticipated to air in mid-November just in time for the Holiday selling season. Products to be offered will consist of the company's USB products such as the Personal Pocket Safe™, Secret Diary™, and Safe Mouse as well as many of the company's lighting products. Valcom will handle all production and media placement with fulfillment outsourced to a third party.
"Valcom offers a distribution channel we have yet to tap into and we look forward to consumers getting a better understanding of the unique qualities of many of our products. It is our belief that once consumers see the value and functionality of these unique item features they will react and purchase," said Reid Goldstein, President of Capstone Industries.
"Upon learning about CHDT at a recent investor conference and their fantastic line of products we were anxious to consummate a distribution agreement as our family oriented Network targets the type of consumer that would be interested in Capstone's product lines. We are working around the clock to begin advertising in November and look forward to strong Holiday sales," said Vince Vellardita, CEO of Valcom.
About CHDT Corporation
CHDT Corporation (www.chdtcorp.com) is a public holding Company that engages, through its wholly owned subsidiaries, in the development, manufacturing, logistics, and distribution of consumer products to retailers and wholesalers throughout North America. See www.chdtcorp.com for more information about the Company and also www.capstoneindustries.com for information on our current product offerings. Reference of URLs in this press release does not incorporate said URLs or any of their contents in this press release.
About Valcom Inc.
Valcom, Inc., through its subsidiaries, operates as a diversified entertainment company in the United States. Its Broadcasting division operates My Family TV, a network created for American families. It has a library of approximately 1,000 films, 200 episodic TV series, and 500 individual TV one-off specials and documentary programs. The company's Film and TV Program Production division includes television production for network and syndication programming, motion pictures, and real estate holdings. Its Live Theatre and Event division provides live shows and events to fruition. The company's Distribution division offers distribution and syndication services to producers. It distributes third party film and TV programming, as well as music titles. Its Real Estate and Other Broadcast Event Auctions division produces live event auctions covering a range of events for TV broadcast and live Webcast. The company serves movie studios and television networks. Valcom, Inc. was founded in 1983 and is based in Indian Rocks Beach, Florida.
Source: Marketwire (October 28, 2010 - 7:00 AM EDT)
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Pro-Pharmaceuticals Ships First Commercial Order for DAVANAT(R)
Pro-Pharmaceuticals Ships First Commercial Order for DAVANAT(R)
South American Distributor PROCAPS S.A. To Market and Sell DAVANAT(R)
in Colombia, South America
Oct. 28, 2010 (Business Wire) -- Pro-Pharmaceuticals, Inc. (OTC: PRWP), the leading developer of therapeutics that target Galectin receptors to treat cancer and fibrosis, today announced it has shipped its first commercial order of DAVANAT® to PROCAPS S.A., a large, international pharmaceutical company based in Barranquilla, Colombia. The $200,000 shipment of DAVANAT® will be used by PROCAPS to qualify its vial filling process.
"This first commercial shipment of DAVANAT® is a major milestone for our Company,” said Theodore D. Zucconi, Ph.D., Chief Executive Officer, Pro-Pharmaceuticals. “We have been very deliberate in taking into consideration the variables associated with first-time, international shipments of pharmaceutical products.
“PROCAPS is an excellent partner to commercialize DAVANAT® in Colombia as well as in other countries in Latin America. PROCAPS operates directly in ten Latin American countries and more than 30 countries worldwide, exporting pharmaceutical and supplement products and has a record of success launching new products,” said Zucconi.
Earlier this year, Pro-Pharmaceuticals granted PROCAPS exclusive rights to market and sell DAVANAT® to treat cancer in Colombia, South America. As part of the Agreement, PROCAPS is responsible for the approval process, as well as distribution, marketing and sales of DAVANAT® in Colombia. Regulatory approval to market and sell DAVANAT® is expected in the first quarter of 2011.
About DAVANAT®
DAVANAT®, the Company's lead product candidate, is a polysaccharide polymer that targets Galectin receptors on cancer cells and interferes with their activity. Peer-reviewed studies have demonstrated that Galectins affect cell development and play important roles in cancer, including tumor cell survival, angiogenesis, tumor metastasis and give the tumor the ability to evade the immune system. To date, DAVANAT® has been administered to approximately 100 cancer patients. Data from a Phase II trial for end-stage colorectal cancer patients showed that DAVANAT® in combination with 5-FU extended median survival to 6.7 months compared to 4.6 months for best standard of care as determined by the patients’ physicians. Clinical trial results also showed that patients experienced fewer serious adverse side effects of the chemotherapy and required less hospitalization, resulting in an improved quality of life.
Pro-Pharmaceuticals, Inc.
Pro-Pharmaceuticals, OTC: PRWP, is a leader in the field of Galectin therapeutics and is engaged in the discovery, development and commercialization of therapeutics that target Galectin receptors for advanced treatment of cancer and fibrosis. Initially, the product pipeline is focused on increasing the efficacy and decreasing the toxicity of chemotherapy drugs. The Company is headquartered in Newton, Mass. Additional information is available at www.pro-pharmaceuticals.com.
About PROCAPS S.A.
PROCAPS S.A. is a pharmaceutical manufacturing and distribution company located in Barranquilla, Colombia. The company was established in 1977 and it has become a pioneer soft gelatin capsule manufacturer. PROCAPS S.A. started distributing its own products throughout the national territory and manufacturing customized formulas for important pharmaceutical companies, such as Wyeth, Merck, Bago, GlaxoSmithKline and Sanofi-Synthelabo.
The dynamic development of PROCAPS S.A. has resulted in the distribution of its products throughout five continents, and the subdivision of the commercial and industrial management of the company into four important businesses: Production and Distribution of Medical Prescription Pharmaceutical Products; OTC and Mass Consumption Pharmaceutical Products; Hospital Medical Supplies and Manufacturing Pharmaceutical Products, and Cosmetics and Supplement Products from customized formulas.
PROCAPS S. A. is multinational company supporting its industrial operation with a modern plant that has been granted the ISO 9001 Quality Standard and the GMP (Good Manufacturing Practices) and Seal certification. PROCAPS S.A. is a proactive organization with more than 1,000 employees, as a pharmaceutical company leader in the Andean region, and whose permanent mission is to aim its efforts towards the continuous health improvement of the worldwide community.
FORWARD LOOKING STATEMENTS: Any statements in this news release about future expectations, plans and prospects for the Company constitute forward-looking statements as defined in the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in such statements. We caution investors that actual results or business conditions may differ materially from those projected or suggested in forward-looking statements as a result of various factors and not place undue reliance on forward-looking statements.
More information about those risks and uncertainties is contained and discussed in the Company’s most recent quarterly or annual report and in the Company’s other reports filed with the Securities and Exchange Commission. The forward-looking statements represent the Company’s views as of the date of this news release and should not be relied upon to represent the Company’s views as of a subsequent date. While the Company anticipates that subsequent events may cause the Company’s views to change, the Company disclaims any obligation to update such forward-looking statements.
DAVANAT is a registered trademark of Pro-Pharmaceuticals, Inc.
Investor Contact:
Pro-Pharmaceuticals, Inc.
Anthony D. Squeglia, 1-617-559-0033
squeglia@pro-pharmaceuticals.com
or
Media Contact:
LVA Communications
Joanne Hogue, 1-410-658-8246
joanne@lva.com
or
Contact for Spanish Media:
Nancy Alvarez, 1-954-684-1047
Nancyalpe24@yahoo.com
Source: Business Wire (October 28, 2010 - 7:00 AM EDT)
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UnionTown Energy Appoints Terry Fields as CEO & President
UnionTown Energy Appoints Terry Fields as CEO & President
Experienced Executive Manager to Head Oil
&
Gas Company
Oct. 28, 2010 (Marketwire) --
LAS VEGAS, NV -- (Marketwire) -- 10/28/10 -- UnionTown Energy Inc. (OTCBB: INBH) and Independent Oil & Gas Company today announced that Mr. Terry Fields has been appointed to and accepted the position of CEO & President at the Company.
Mr. Fields' business career spans more than 40 years in both the public and private sectors. After graduating from the University of California in Los Angeles (UCLA) and having received his Bachelor of Science Degree in 1965, he attended Loyola University School of Law in Los Angeles where he was Student Body President, earning the prestigious Loyola University School of Law Alumni Award and the American Bar Association Silver Key Award for Excellence.
He obtained his Doctorate of Law Degree (J.D.) in 1968 and was admitted to the California State Bar in 1969. He engaged in trial law for fifteen years, subsequently specializing in Business and Corporate Law with an emphasis on finance, both domestic and international.
Mr. Fields has held executive management and director positions in over a dozen publicly traded companies in both the United States and Canada, with his interest focused mostly in the resource area.
At present, Mr. Fields holds the position of Officer and Director, on the Boards of Daulton Capital Corp., First Pursuit Ventures Ltd., Willow Creek Enterprises Ltd. and is a Director of Meadow Bay Capital Corp. All of the aforementioned companies are publicly reporting.
The Company also announced the departure of Jurgen Wolf, Mauro Baessato and Christine Kilbourn from the company.
About Uniontown Energy
Uniontown Energy Inc. is an Independent Oil & Gas Company whose focus is the acquisition, development and production of oil and natural gas properties. The Company is pursuing a strategy of building a portfolio of energy producing assets that include coal bed methane, natural gas, shale gas, oil sands and deep natural gas throughout Western Canada and the United States. The Company's flagship property is located in Kansas within the Cherokee basin, which has been producing gas from shale and coal deposits for over eighty years and has 2.8 Tcf of potential recoverable CBM. Please visit www.uniontownenergy.com
Safe Harbor
The information in this release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although the company believes that its expectations are based on reasonable assumptions, actual results may differ materially. These forward-looking statements involve risks and uncertainties that include, among others, fluctuations in natural gas and crude oil prices; the timely receipt of necessary permits and approvals; market demand for, and/or available supplies of, energy-related products and services; unanticipated project delays, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect the Company's financial results is included in its filings with the Securities and Exchange Commission.
Patrick Smyth
Phone: (702) 530-3241
E-mail: Email Contact
Source: Marketwire (October 28, 2010 - 6:30 AM EDT)
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MacroSolve Awarded Patent Revolutionizing Use of Smartphones, Tablets and Rugged Mobile Devices
MacroSolve Awarded Patent Revolutionizing Use of Smartphones, Tablets and Rugged Mobile Devices
Currently in Discussions With Large Mobile Companies to Monetize Patent
Oct. 28, 2010 (Marketwire) --
TULSA, OK -- (Marketwire) -- 10/28/10 -- MacroSolve, Inc. (OTCBB: MCVE) (OTCQB: MCVE) announced today that the United States Patent and Trademark Office has issued U.S. Patent No.7,822,816 to the company. The patent, a significant intellectual property (IP) asset to MacroSolve, further advances its position as a leader in the mobile solutions market. MacroSolve is immediately pursuing the monetization of this patent and its other IP assets and is currently in discussions with several companies in the mobile communications market.
The patent addresses mobile information collection systems across all wireless networks, smartphones, tablets, and rugged mobile devices, regardless of carrier and manufacturer, and is currently utilized in MacroSolve's ReForm XT™ rapid mobile app development platform.
"This patent is the biggest step forward I've seen during my career in the mobility ecosystem. MacroSolve has been a pioneer in the industry for 14 years and our visionary leadership is solidified in the award of this patent," stated MacroSolve president and CEO Clint Parr.
Jim McGill, Chairman of the Board for MacroSolve, added, "This revolutionary patent and the ReFormXT platform is the culmination of a decade of shareholder investment which was used to fund resources and technology know-how at MacroSolve. This defining IP represents a paradigm shift in the mobility world and we are pleased to have built this kind of inherent value for our shareholders and partners."
Coding and development for this technology began in 2002, while the patent application was filed in 2003. The named inventor of the patent is David Payne, who was the founder of MacroSolve. Following seven years of working with the USPTO, the patent has been granted, clearly establishing MacroSolve as having developed state of the art technology very early in the evolution of the mobile app IP space.
For more information please visit www.goanyware.com, www.macrosolve.com, or www.illumemobile.com.
About MacroSolve
MacroSolve, Inc. is a pioneer in delivering mobile apps, technologies, and solutions to businesses and government. Founded in 1997, the company has an extensive network including the top name brands in wireless hardware and software as well as wireless carriers. Leveraging its intellectual property portfolio, MacroSolve is positioned to become the leader in delivering mobile business apps, a market projected to grow by double digits to an aggregate of $11.6 B by 2012. The company operates through its subsidiaries including Anyware Mobile Solutions (http://www.goanyware.com) and Illume Mobile (http://www.illumemobile.com). For more information, visit MacroSolve (http://www.macrosolve.com) or call 800-401-8740.
Safe Harbor Statement
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.
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Investor Contact:
Dilek Mir
(310) 591-5619
Email Contact
Company Contact:
April Sailsbury
(918) 388-3529
Email Contact
Source: Marketwire (October 28, 2010 - 6:00 AM EDT)
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Techs Loanstar Responds to Shareholder Inquiries Regarding Recent Trading Volume in the Company's Common Stock
Techs Loanstar Responds to Shareholder Inquiries Regarding Recent Trading Volume in the Company's Common Stock
Oct. 28, 2010 (Marketwire) --
WEST PALM BEACH, FL -- (Marketwire) -- 10/28/10 -- Techs Loanstar, Inc. (OTCBB: TCLN) ("Techs" or the "Company"), a company in the social network industry through its wholly owned subsidiary ZenZuu USA, Inc ("ZZUSA"), today announced that although the Company does not have specific firsthand knowledge of short sales in the Company's common stock, it has obtained certain data regarding the short selling over the last week. Pursuant to a Securities and Exchange Commission request, the Financial Regulatory Agency ("FINRA") has agreed to make reported short sale trade data publicly available. Based on review of the daily short sale volume files which provides aggregated volume by security on all short sale trades executed and reported to a FINRA reporting facility during normal market hours, as well as discussion with a FINRA representative, the following represents the daily short selling of the common stock on the following days:
October 27th 324,560
October 26th 1,778,044
October 25th 779,872
October 22th 440,342
October 21st 3,198,937
October 20th 439,150
The above information is available at http://regsho.finra.org/regsho-Index.html
Once there, scroll to the bottom of the page to "ORF," click on a date and once again scroll through the list of securities till reaching TCLN. The report also gives the total shares traded during normal market hours.
About ZenZuu USA, Inc.
ZZUSA, a Nevada Corporation, was formed on June 5, 2009 for the purpose of seeking a business opportunity in the online social network industry. On June 8, 2009 ZZUSA merged (the "ZZP Merger") with ZZPartners, Inc. ("ZZP"), a Nevada corporation, formed in April 2008. ZZP was formed to acquire an exclusive license to use and operate in the United States the online social database and advertising revenue-share model developed and maintained by ZenZuu, Inc. ("ZZI"), a Nevada corporation. In the ZZP Merger, ZZUSA acquired the license as well as all of the other assets and liabilities of ZZP.
About Techs Loanstar, Inc.
Techs Loanstar, Inc., a Nevada company, was initially organized to provide loan management service and software for the equity and payday loan industry. Upon completion of the Share Exchange, Techs ceased all operations relating to its historical business and has adopted the business plan of ZZUSA.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," or "expects" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.
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For Further Information Contact:
Barry Hollander
Chief Financial Officer
(561) 514-9044 begin_of_the_skype_highlighting (561) 514-9044 end_of_the_skype_highlighting
Source: Marketwire (October 28, 2010 - 6:00 AM EDT)
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Cord Blood America Announces Agreement with the Hawaii Medical Service Association
Cord Blood America Announces Agreement with the Hawaii Medical Service Association
Oct. 28, 2010 (PR Newswire) --
LAS VEGAS -- Cord Blood America, Inc. (www.cordblood-america.com) (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life-saving potential of stem cells to families nationwide and internationally, is pleased to announce a new work agreement with the Hawaii Medical Service Association (HMSA), an independent licensee of the Blue Cross and Blue Shield Association, the largest and most experienced provider of health care coverage in Hawaii.
"Over half of Hawaii's population has chosen HMSA for their health care coverage," said Matthew Schissler, Chairman, CEO and co-founder of Cord Blood America. "We are pleased to work with such a prestigious, well-known and well-respected health care program."
HMSA is now offering their members the opportunity to bank their baby's cord blood, which contains important stem cells, privately at a generous discount. Members can also take advantage of Cord Blood America's "Afford-A-Cord" program, which allows for a smaller payment at time of birth.
About Cord Blood America
Cord Blood America is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc., visit our website at http://www.corcell.com/. For investor information, visit www.cordblood-america.com/.
CONTACT:
Paul Knopick
E & E Communications
949/707-5365
pknopick@eandecommunications.com
SOURCE Cord Blood America, Inc.
Paul Knopick of E & E Communications, +1-949-707-5365, pknopick@eandecommunications.com, for Cord Blood America, Inc.
Source: PR Newswire (October 28, 2010 - 5:02 AM EDT)
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California Water Service Group board announces dividend of USD0.2975 per common share
California Water Service Group board announces dividend of USD0.2975 per common share
Oct. 28, 2010 (M2 Communications Ltd.) --
The board of directors of California Water Service Group (NYSE:CWT), a water service company, declared on Wednesday a quarterly dividend of USD 0.2975 per share of common stock.
This dividend will be paid on 19 November 2010, to stockholders of record as of 8 November 2010.
California Water Service Group is the parent company of California Water Service Company, Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company Inc, CWS Utility Services and HWS Utility Services LLC.
(Comments on this story may be sent to tww.feedback@m2.com)
Source: M2 Presswire (October 28, 2010 - 5:02 AM EDT)
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Encore Renaissance Intersects #20 Gold Vein at Bonaparte Gold Project; 36 Foot 8x8-Cross-Cut Yields 200 Tons Grading Over 8g/t Gold
Encore Renaissance Intersects #20 Gold Vein at Bonaparte Gold Project; 36 Foot 8x8-Cross-Cut Yields 200 Tons Grading Over 8g/t Gold
VANCOUVER, BRITISH COLUMBIA, Oct. 29, 2010 (Marketwire) -- Encore Renaissance Resources Corp. (TSX VENTURE:EZ)(FRANKFURT:OUH1)(PINK SHEETS:ERRCF) (the "Company" (TSXV symbol EZ) reports progress on the Bonaparte 10,000-tonne Bulk Sample exploration program.
Development of the decline has intersected the #20 vein. The vein was partially mined, along its southward strike for 36 feet, blasting 6 rounds, each of 6-foot length, producing 200 tons of mixed ore and waste rock. The relatively flat-laying #20 vein, dipping 40 to 45 degrees, will be best mined from lower mining levels, as separation of ore and waste, at the drift face is not optimal for this type of flat-laying vein. The 200 tons of mixed ore/waste were assayed by random sampling of material from every second bucket excavated by the LHD underground loaders.
Assay results, from this sampling procedure have returned an average grade of over 7.55 g/t or .22 oz/t gold. The company looks forward to revisiting the #20 vein, as the decline swings around, heading due east to intersect the diamond drill-indicated high-grade (1.5oz/t gold or 48g/t) Eagle vein.
Winterizing the mining site is now complete.
Assay Results of 200 tons from #20 Vein South Exploration Drift
Au AuET #. Tag # (g/t) (oz/t)------------------------------------------------------------------------------------------------------------------------------------------------------1 8R265858 5.42 0.1582 8R265859 less than 0.03 less than 0.0013 8R265860 8.64 0.2524 8R265861 16.1 0.4705 8R265862 7.85 0.2296 8R265863 1.20 0.0357 8R265864 4.05 0.1188 8R265865 17.1 0.499 : Average 7.55 0.220ECO TECH LABORATORY LTD. Norman Monteith B.C. Certified Assayer
Michael Mulberry, President and Director
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this press release.
Encore Renaissance Resources Corp. President and Director 778-994-6453 or 778-891-2702 info@encorerenaissance.com www.encorerenaissance.com Encore Renaissance Resources Corp. Suite 809 - 27 Alexander St Vancouver, BC Canada, V6A 1B2
Source: Marketwire Canada (October 29, 2010 - 3:02 AM EDT)
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Prophecy Completes $2,030,000 Private Placement
Prophecy Completes $2,030,000 Private Placement
Oct. 29, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/29/10 -- Prophecy Resource Corp. ("Prophecy" or the "Company") (TSX VENTURE: PCY)(OTCQX: PRPCF)(FRANKFURT: 1P2) is pleased to announce that it has completed the non-brokered flow through private placement previously announced on September 21, 2010 and amended on October 25, 2010. A total of 3,830,189 flow through units (each a "Unit") were placed at a price of $0.53 per Unit generating gross proceeds of $2,030,000.
Each Unit consisted of one flow though common share and one share purchase warrant. Each whole share purchase warrant entitles the holder to acquire one additional common share at a price of $0.66 until October 28, 2012. All of the securities issued under this placement are subject to a hold period expiring on March 1, 2011.
A cash finder's fee of 5% of the proceeds placed was payable in respect of portions of the placement to arm's length third parties, including Eurasia Capital and Frontier Securities.
Proceeds of the placement will be applied to the Company's Lynn Lake Property in Manitoba and the Wellgreen Property in Yukon Territory.
For more information about Prophecy, please contact Paul McKenzie at +1.604.642.2625 ext. 107 or John Lee at +1.800.851.1528.
About Prophecy
Prophecy Resource Corporation is an internationally diversified company engaged in developing coal energy, nickel and platinum group metals projects. The company controls over 1.4 billion tons of open-pittable thermal coal in Mongolia (839 Mt Measured, 579 Mt Indicated). In Canada Prophecy owns Wellgreen PGM Project in Yukon, Lynn Lake Nickel Sulphide Project in Manitoba, and a 10% equity stake in Victory Nickel. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS of Prophecy Resource Corp.
John Lee, Chairman
This news release does not constitute an offer to sell or a solicitation to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("the U.S. Securities Act") or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
"Neither the 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:
Prophecy Resource Corp.
John Lee
Chairman
+1.604.642.2625 ext. 107
john@prophecyresource.com
www.prophecyresource.com
Source: Marketwire (October 29, 2010 - 12:28 AM EDT)
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EnviroXtract, Inc. Announces Completion of a Reverse Stock Split and Results of Initial Tests Performed with Automotive Motor Oil Samples
EnviroXtract, Inc. Announces Completion of a Reverse Stock Split and Results of Initial Tests Performed with Automotive Motor Oil Samples
Oct. 28, 2010 (GlobeNewswire) --
EDMOND, Okla., Oct. 28, 2010 (GLOBE NEWSWIRE) -- EnviroXtract, Inc. (Pink Sheets:EVXAD) announces that it has received analytical reports associated with the initial testing of its proprietary oil extraction process on soil samples saturated with standard automotive motor oil. Based upon a quantitative analysis performed by Test America Laboratories on representative samples, the minimum extraction rate of petroleum removed from the sample material was 99.87%. The maximum extraction rate of petroleum removed from the sample material was 99.99%.
In order to achieve a higher share price and increase available trading opportunities for its shareholders, a reverse stock split of 1:1000 became effective on October 28, 2010. The company continues to restructure its stock in order to increase liquidity and raise sufficient capital to pursue its business plan to develop and supply efficient commercial environmental remediation technologies to address oil spills and chemical spills.
About EnviroXtract, Inc.:
EnviroXtract, Inc. has acquired a license for an efficient technology intended to perform environmental remediation applications for oil spills and other toxic chemical remediation applications that require a complete separation of hazardous or toxic chemicals from contaminated soil. The technology has proven capable of removing up to 99.9% of oil from soil, is extremely energy efficient, leaves clean, dry tailings with no residual oil, requires no water, natural gas, fossil fuels, or chemicals during processing, discharges no pollutants, and is capable of capturing carbon emissions in a closed vacuum processing system.
EnviroXtract plans to explore additional environmental remediation applications to enhance its business model.
Safe Harbor
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 of 1995. Those statements include statements regarding the intent, belief or current expectations of EnviroXtract, 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. 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.
CONTACT: EnviroXtract, Inc.
Carlton Wingett - President / CEO
1-888-459-4889
Carlton@EnviroXtract.com
Source: Globe Newswire (October 28, 2010 - 3:11 PM EDT)
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CenterPointe Community Bank Reports 3rd Quarter Earnings
CenterPointe Community Bank Reports 3rd Quarter Earnings
Oct. 28, 2010 (Marketwire) --
HOOD RIVER, OR -- (Marketwire) -- 10/28/10 -- CenterPointe Community Bank (OTCQB: CENP) (PINKSHEETS: CENP), headquartered in Hood River, Oregon, announced that it earned $155,000 or $0.14 per diluted share for its third quarter ending September 30, 2010. On a year-to-date basis, CenterPointe earned $140,000 or $0.13 per diluted share for the nine-month period ending September 30, 2010.
Financial Highlights:
-- Gross Loans $55.9 million -- up 37.7% year-to-date.
-- Excellent Asset Quality -- no loan delinquencies; no non-accrual loans;
no other real estate owned.
-- Total Deposits $66.4 million -- up 21.2% year-to-date.
-- Net Interest Margin (annualized) 5.08% -- a key indicator of our
profitability, improved 12 basis points over the previous quarter and
compares favorably to our peers.
-- Bank remains "Well Capitalized" -- as measured by regulatory
guidelines.
In announcing the Bank's second consecutive quarterly profit, Mahlon Vigesaa, CenterPointe's President and Chief Executive Officer, noted, "The Bank is operating at a sustainable level of profitability with adequate capital and internal capacity to grow in response to the needs of the Bank's core market area -- principally Hood River, Wasco and Klickitat Counties located within the Columbia River Gorge region."
According to Britt Thomas, the Bank's Chief Credit Officer, "Despite a common assertion that banks are not lending, CenterPointe Bank is in fact a very active commercial lender to local business and agriculture enterprises as well as for owner occupied commercial real estate. CenterPointe is well positioned for responding to our customers' needs and also has access to certain government loan programs such as the SBA 504 or Farm Service Agency Guarantee."
Chief Financial Officer, Jim Fortner, indicated, "The Bank's net interest margin has improved steadily over the past year. This trend has been a key contributor to our profitability and we expect to maintain our net interest margin above 5.0% for the foreseeable future. CenterPointe is a stable, profitable community bank with a clean balance sheet. This means that CenterPointe is a safe bank for depositors to hold their cash. CenterPointe offers competitive rates and strives to provide a level of service that exceeds the expectations of our clients."
ABOUT CENTERPOINTE COMMUNITY BANK
CenterPointe Community Bank (OTCQB: CENP) is a Columbia River Gorge based, State of Oregon chartered and FDIC insured community bank. Initially opened September 2007, the Bank is headquartered in Hood River, Oregon, with a second full service branch office located in The Dalles, Oregon. CenterPointe Community Bank is the only local community bank headquartered in the Columbia River Gorge region. Its designated service area encompasses Wasco and Hood River Counties in Oregon, and Klickitat County in Washington State.
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
This press release may include forward-looking statements about CenterPointe Community Bank that are intended to be covered under the "Safe-Harbor" provisions of Federal securities laws and which management believes are a benefit to shareholders and the general public. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from a given forward-looking statement. The reader should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. We make forward-looking statements in this press release about the prospects for earnings growth, deposit and loan growth, capital levels, the effective management of our credit quality, the collectability of loans that may become identified as non-performing, real estate market conditions and the adequacy of our Allowance for Loan Losses.
Additional information about CenterPointe Community Bank, including its products, services, and banking locations, is available at www.centerpointebank.com.
CENTERPOINTE COMMUNITY BANK
FINANCIAL HIGHLIGHTS
(All amounts in 000's, except per share data)
(unaudited)
EARNINGS AND PER SHARE DATA
September September
For the Three Months Ended 30, 30,
2010 2009 Change % Change
---------- --------- --------- --------
Interest income $ 1,049 $ 648 $ 401 61.9 %
Interest expense 150 161 (11) (6.8)%
---------- --------- ---------
Net interest income 899 487 412 84.6 %
Provision for loan losses 36 56 (20) (35.7)%
Non-interest income 23 15 8 53.3 %
Non-interest expense 731 707 24 3.4 %
---------- --------- ---------
Pre-tax income 155 (261) 416 nm
Provision for income taxes - - - nm
---------- --------- ---------
Net income (loss) $ 155 $ (261) $ 416 nm
========== ========= =========
Basic and diluted earnings per
share $ 0.14 $ (0.24) $ 0.38 nm
========== ========= =========
Average shares outstanding -
basic and diluted 1,136,564 1,085,685 50,879 4.7 %
For the Three Months Ended June 30,
2010 Change % Change
---------- --------- --------
Interest income $ 931 $ 118 12.7 %
Interest expense 145 5 3.4 %
---------- ---------
Net interest income 786 113 14.4 %
Provision for loan losses 63 (27) (42.9)%
Non-interest income 30 (7) (23.3)%
Non-interest expense 717 14 2.0 %
---------- ---------
Pre-tax income 36 119 330.6 %
Provision for income taxes - - nm
---------- ---------
Net income (loss) $ 36 $ 119 330.6 %
========== =========
Basic and diluted earnings per
share $ 0.03 $ 0.11 366.7 %
========== =========
Average shares outstanding -
basic and diluted 1,136,564 - 0.0 %
For the Nine Months Ended September September
30, 30,
2010 2009
---------- ---------
Interest income $ 2,789 $ 1,737 $ 1,052 60.6 %
Interest expense 442 490 (48) (9.8)%
---------- --------- ---------
Net interest income 2,347 1,247 1,100 88.2 %
Provision for loan losses 163 126 37 29.4 %
Non-interest income 128 39 89 228.2 %
Non-interest expense 2,172 2,177 (5) (0.2)%
---------- --------- ---------
Pre-tax income 140 (1,017) 1,157 nm
Provision for income taxes - - - nm
---------- --------- ---------
Net income (loss) $ 140 $ (1,017) $ 1,157 nm
========== ========= =========
Basic and diluted earnings per
share $ 0.13 $ (0.94) $ 1.07 nm
========== ========= =========
Average shares outstanding -
basic and diluted 1,122,958 1,085,685 37,273 3.4 %
SELECTED FINANCIAL RATIOS
(annualized)
September September
30, 30, June 30,
For the Three Months Ended 2010 2009 Change 2010 Change
-------- ------- -------- -------- --------
Net interest margin 5.28% 4.90 % 0.38 5.18% 0.10
Return on average equity 10.06% (17.39)% 27.45 2.41% 7.65
Return on average assets 0.87% (2.40)% 3.27 0.23% 0.64
Efficiency ratio (1) 79.28% 140.84 % (61.56) 87.87% (8.59)
September September
30, 30,
For the Nine Months Ended 2010 2009 Change
-------- ------- --------
Net interest margin 5.08% 4.58 % 0.50
Return on average equity 3.18% (21.36)% 24.54
Return on average assets 0.29% (3.39)% 3.68
Efficiency ratio (1) 87.76% 169.28 % (81.52)
Notes:
(1) Non-interest expense divided by net interest income plus non-interest
Income
CENTERPOINTE COMMUNITY BANK
FINANCIAL HIGHLIGHTS
(All amounts in 000's, except per share data)
(unaudited)
September September
BALANCE SHEET 30, 30,
2010 2009 Change % Change
--------- --------- --------- ---------
Cash and due from banks $ 1,184 $ 1,745 $ (561) -32.1%
Fed funds sold 7,510 1,505 6,005 399.0%
Time deposits 2,744 - 2,744 nm
Investment securites
available-for-sale 4,333 5,297 (964) -18.2%
Gross loans 55,949 33,589 22,360 66.6%
Allowance for loan losses (673) (374) (299) 79.9%
--------- --------- ---------
Loans, net of allowance for
loan losses 55,276 33,215 22,061 66.4%
Other assets 1,840 2,147 (307) -14.3%
--------- --------- ---------
Total assets $ 72,887 $ 43,909 $ 28,978 66.0%
========= ========= =========
Non-interest-bearing deposits $ 26,409 $ 7,486 $ 18,923 252.8%
Interest-bearing deposits 40,020 30,175 9,845 32.6%
--------- --------- ---------
Total deposits 66,429 37,661 28,768 76.4%
Borrowings - - - nm
Other liabilities 232 348 (116) -33.3%
Stockholders' equity 6,226 5,900 326 5.5%
--------- --------- ---------
Total liabilities and
stockholders' equity $ 72,887 $ 43,909 $ 28,978 66.0%
========= ========= =========
Period end shares outstanding 1,136,564 1,085,685 50,879 4.7%
Book and tangible book value
per share $ 5.48 $ 5.43 $ 0.05 0.9%
BALANCE SHEET June 30,
2010 Change % Change
--------- --------- ---------
Cash and due from banks $ 1,583 $ (399) -25.2%
Fed funds sold 3,780 3,730 98.7%
Time deposits 3,592 (848) -23.6%
Investment securites
available-for-sale 4,208 125 3.0%
Gross loans 54,803 1,146 2.1%
Allowance for loan losses (637) (36) 5.7%
--------- ---------
Loans, net of allowance for
loan losses 54,166 1,110 2.0%
Other assets 1,763 77 4.4%
--------- ---------
Total assets $ 69,092 $ 3,795 5.5%
========= =========
Non-interest-bearing deposits $ 21,589 $ 4,820 22.3%
Interest-bearing deposits 41,246 (1,226) -3.0%
--------- ---------
Total deposits 62,835 3,594 5.7%
Borrowings - - nm
Other liabilities 235 (3) -1.3%
Stockholders' equity 6,022 204 3.4%
--------- ---------
Total liabilities and
stockholders' equity $ 69,092 $ 3,795 5.5%
========= =========
Period end shares outstanding 1,136,564 - 0.0%
Book and tangible book value
per share $ 5.30 $ 0.18 3.4%
CONTACTS:
Mahlon Vigesaa
President & Chief Executive Officer
541-308-1311
mahlon.vigesaa@centerpointebank.com
Jim Fortner
Executive Vice President & Chief Financial Officer
541-308-1317
jim.fortner@centerpointebank.com
Source: Marketwire (October 28, 2010 - 11:19 AM EDT)
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Herborium Announces 2011 Product Marketing Strategy
Herborium Announces 2011 Product Marketing Strategy
Oct. 28, 2010 (GlobeNewswire) --
SADDLE BROOK, N.J., Oct. 28, 2010 (GLOBE NEWSWIRE) -- Herborium Group, Inc., (Pink Sheets:HBRM) www.herborium.com, a Botanical Therapeutics™ company, today announced its 2011 marketing strategy, developed to increase market share of the world's natural medicines market.
"Having been in development for some time now, our 'path-to-market' explains Herborium's core strategy to capture market share – distinguishing our medicinal products with U.S. Food & Drug Administration (FDA) allowed labeling," commented Dr. Agnes P. Olszewski, Herborium Group's president and chief executive officer. "I believe our three-tier path-to-market, soon available at www.otcmarkets.com, sets forth a sustainable, well thought out approach to development of our product pipeline."
Recent FDA guidelines (FDA Guidance for Industry: Botanical Drug Products), provide a mechanism to perform the clinical research necessary to enable Herborium to advertise medical claims for its proprietary botanical products including AcnEase® its flagship product, (www.acnease.com).
"Furthermore, when one considers that Accutane®, a prescription only systemically acting acne medication marketed by Roche Pharmaceutical, is currently embroiled in class action lawsuits due to its alleged deleterious side effects, the opportunity for AcnEase becomes clear; aggressively establish AcnEase as the only oral, systemically acting acne medication with clinical trial validation of its safety & efficacy and fill Accutane's void."
An estimated 120 million women and men, including more than 30 million adults, suffer from some form of acne in the U.S. and top five European markets. The global pharmaceutical acne market, which was $2.5 billion in 2006, is forecast to grow to over $3 billion by 2016.
"With Herborium's healthy pipeline of additional Botanical Therapeutics currently in development, we expect to apply this overall market strategy to new products as well.
"In conclusion, since the development and marketing of medicines itself tends to be a complicated process, I look forward to soon visiting with our shareholders to answer questions and further explain how we intend to capture market share with this promising new classification of medicines," Olszewski concluded.
About Herborium Group, Inc.
Herborium Group, Inc., a Botanical Therapeutics® company, focuses on developing, licensing, and marketing proprietary, botanically based medicinal products to consumers and healthcare professionals. The Company's business model focuses on emerging market opportunities spearheaded by the growth of a new market sector located between high-cost, high-risk, ethical pharmaceuticals and commoditized classic nutraceuticals (supplements). The Company uses clinical validation and a proactive regulatory strategy based on the FDA Guidance for Industry: Botanical Drug Products (FDA Guidance 2004) to establish and maintain a differential advantage. For more information, please visit www.herborium.com and www.acnease.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. The Company urges investors to review the risks and uncertainties contained within its filings with the OTC Markets and/or Securities and Exchange Commission.
CONTACT: Herborium Group, Inc.
Dr. Agnes P. Olszewski, President & CEO
(201) 647-3757
Source: Globe Newswire (October 28, 2010 - 10:30 AM EDT)
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Great Western Minerals Group Appoints Kaz Machida to Advisory Board
Great Western Minerals Group Appoints Kaz Machida to Advisory Board
Oct. 28, 2010 (Marketwire) --
SASKATOON, SASKATCHEWAN -- (Marketwire) -- 10/28/10 -- Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE: GWG) (OTCQX: GWMGF) announces that Kaz Machida has been appointed to the Company's Advisory Board.
Kaz Machida has worked with Itochu Corporation, an international trading and import/export company involved in multiple business sectors, headquartered in Japan, and operating in 74 countries. Mr. Machida has three decades of experience in business development in areas that include industrial salt, inorganic chemicals and industrial minerals. Since the early 1980's, he has been involved with the importation of Rare Earth oxides and metals, primarily from China, in the area of phosphors, magnets, glass, polishing powders, catalysts and ceramics. In the past decade, Mr. Machida has worked with Lynas Corporation and subsequently with his own company that is involved in the trading of Rare Earths oxides.
"Kaz Machida is a significant addition to GWMG's Advisory Board," said GWMG President and Chief Executive Officer Jim Engdahl. "His extensive experience and expertise in the Rare Earths and metals industries are a valuable addition to our Company as it becomes a fully integrated Rare Earths producer. In particular, his connections within the Japanese and Pacific Rim Rare Earths sector are strategically important to GWMG as has been evidenced through the work Mr. Machida has undertaken previously for our Company."
"Mr. Machida's appointment to our Advisory Board provides additional depth to our corporate knowledge base within the Rare Earths sector at the importation and customer application level," added Jim Engdahl. "His exceptional market knowledge will continue to be of great benefit in Great Western Mineral Group's strategic development process."
Jim Engdahl, President
About Great Western Minerals Group Ltd.
Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 20.8% ownership in Rare Earth Extraction Co. Ltd, the owner of the Steenkampskraal mine. GWMG also holds interests in seven Rare Earth exploration and development properties in North America.
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to satisfaction of the conditions precedent with respect to GWMG's offtake agreement, receipt of all required approvals (including those relating to the commencement of production at the Steenkampskraal mine) and risks, uncertainties and other factors that are beyond the control of GWMG, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve or resource estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG's current annual information form available at www.sedar.com.
CUSIP: 39141Y 10 3
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:
Great Western Minerals Group Ltd.
Dwight Percy
Manager of Investor Relations
(306) 659-4500
info@gwmg.ca
www.gwmg.ca
Great Western Minerals Group Ltd.
219 Robin Crescent
Saskatoon, SK S7L 6M8
Source: Marketwire (October 28, 2010 - 9:33 AM EDT)
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Everybody's Phone Company Retains Equiti-trend Advisors, LLC for Its Comprehensive Investor's Relations Activities
Everybody's Phone Company Retains Equiti-trend Advisors, LLC for Its Comprehensive Investor's Relations Activities
Oct. 28, 2010 (GlobeNewswire) --
HOUSTON, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Everybody's Phone Company, (Pink Sheets:EVPH), today announced that it has retained Equiti-trend Advisors, LLC to assist in its investor awareness and shareholder relations activities. A San Diego-based agency, Equiti-trend provides a suite of custom services for public companies seeking results-oriented investor awareness programs.
"Market awareness and shareholder relations are of critical importance to Everybody's Phone Company, and we are extremely pleased to have retained Equiti-trend to assist in a comprehensive investor communications program," said Steven H. Bethke, President of Everybody's Phone Company. "We look forward to working with Equiti-trend to bring information to both our current shareholders and a broader market audience."
"We are very impressed with Everybody's Phone Company, and I feel that our team is ready to effectively communicate the true value of the company, and its long-term potential, to the current shareholders as well as to investors in search of that next big emerging growth stock idea," said James J. Mahoney, Managing Director of Equiti-trend. "We look forward to a long relationship."
About Equiti-trend Advisors LLC
For more information about Equiti-trend Advisors, please visit the Company's corporate website: www.equititrend.com. All investors and current shareholders interested in receiving information on Everybody's Phone Company are encouraged to call Equiti-trend toll-free (800) 953-3350 to speak with an Investor Communication Representative.
About Everybody's Phone Company
Everybody's Phone Company sells prepaid, unlimited local (dial tone) telephone service to the residential market, primarily in greater Houston. The Company is fully licensed by the Texas Public Utility Commission to resell telephone services throughout the State. Once EVPH achieves critical mass in Texas, the Company plans to expand its prepaid telecommunications product offerings nationwide. For more information, visit www.everybodysphonecompany.com.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
CONTACT: Everybody's Phone Company
Steven H. Bethke, President and CEO
(713) 268-1610
www.everybodysphonecompany.com
Equiti-trend Advisors, LLC
Investor Relations Contact:
(800) 953-3350
admin1@equititrend.com
Source: Globe Newswire (October 28, 2010 - 9:32 AM EDT)
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Trevali Receives Final Key Transmission Line Permit for the Tingo Hydroelectric Plant
Trevali Receives Final Key Transmission Line Permit for the Tingo Hydroelectric Plant
Awards Tender to the ABB Group to Supply Transformers to the Santander Silver-Lead-Zinc Mine Project in Peru
VANCOUVER, BRITISH COLUMBIA, Oct. 28, 2010 (Marketwire) -- Trevali Resources Corp. ("Trevali" or the "Company") (TSX:TV)(PINK SHEETS:TREVF)(FRANKFURT:4TI) is pleased to announce that it has received its final permit, or CIRA (Certificado de Inexistencia de Restos Arqueologicos), required in order to upgrade the 17-km transmission line from its wholly-owned Tingo run-of-river power plant to its Santander silver-lead-zinc mine in west-central Peru.
The Company has also awarded the ABB Group, an international leader in power and automation technology, the tender to supply and install transformers and ancillary equipment for new substations at the Santander mine and at the interconnection to the Peruvian National Grid - Sistema Electrico Interconectado Nacional (SEIN).
Trevali Renewable Energy, a wholly owned subsidiary of Trevali Resources, is currently in the process of a Phase I upgrade of the 1.6MW Tingo power plant to 8.8MW capacity (approx.10MW generation potential during wet-season). Under the current mine-plan, presently being designed by the Company's partner Glencore International, it is envisaged that the Santander minesite will require approximately 4 to 5MW of power supply to support a 2,000-tonne-per-day underground mining operation. Excess power will be sold to third parties under standard long-term power-purchase agreements until such time as the unused power may be required to support potential production increases at the Santander mine - thereby potentially providing an additional revenue stream to contemplated metal concentrate sales (silver-lead, zinc +/- copper).
TINGO: A LOW-COST RELIABLE POWER PRODUCER
The Tingo run-of-river hydroelectric power plant (Fig. 1: http://media3.marketwire.com/docs/tv-map1.pdf) is located 17 kilometers west of the Santander minesite and has been continually producing inexpensive, reliable power to the site since 1958. Work to date by the Company indicates that the new Tingo power plant is anticipated to produce power at an operational cost ranging from approximately US 1-to-1.5 cents per kilowatt hour (kW-h) versus power costs currently ranging from US 10-to-15 cents per kW-h from power generation companies or US 20-to-30 cents per kW-h for an on-site diesel generated power supply.
Furthermore due to its advantageous location with year-round water supply it is estimated that Tingo will have an online availability of 95%. This is in contrast to the majority of Peruvian hydroelectric power plants that have an industry average availability of 60 to 70% due to seasonal water flow in their catchment areas. Consequently, Tingo will have the availability of a thermal power plant but at the significantly lower operational costs of a hydroelectric plant.
"One of the biggest hurdles to new mine development or expansion in the district is the lack of power supply - having access to our own inexpensive, reliable and renewable power will be a major operational and strategic advantage to the Company going forward," stated Dr. Mark Cruise, president and chief executive officer of Trevali. "In addition to being a potential significant revenue generator in its own right, it will also assist in shielding the Company from potential future commodity price downturns."
OVERVIEW OF THE PERUVIAN POWER INDUSTRY
As the Peruvian economy has rapidly expanded over the past decade and in particular the last 5-years industrial end-users, of which the mining industry is the largest customer accounting for approximately 50 - 55% of supply usage (Fig. 2: http://media3.marketwire.com/docs/tv-map2.pdf), have found it increasingly difficult to obtain cheap reliable power.
Given the approximately US $41 billion of mining investment in large scale mining operations (copper and gold primarily) anticipated in Peru over the next 5-year period it is an understatement that power demand and pricings are anticipated to remain robust in the medium to long-term.
In the last 12-month period there have been three long-term bids (up to 15 years) to purchase energy from new hydropower plants (large and small hydros), organized by the Peruvian Investment Agency (ProInversion) and the Energy Regulator (Osinergmin) with all-in prices ranging between US$55/MWh and US$74/MWh.
The most recently available information indicates that the current average cost of energy ranges from approximately US 10-to-15 cents per kW-h. Furthermore on a sector basis, the mineral industry's average cost of power is in the upper quartile of all Peruvian-end users - according to Osinergmin's recent energy bulletin (May 2010) the mining sector as a whole is paying US 14 cents per kW-h for power.
SANTANDER PROJECT
The Santander zinc-lead-silver mine project is located approximately 215 km by road from Lima, in the western extent of Peru's Central Polymetallic Belt. Site infrastructure includes a fully refurbished 200-man camp and the Tingo hydroelectric power-station located 17 km down-valley to the west. The Company commenced exploration at Santander in November 2007 discovering four new high-grade silver-lead-zinc replacement and massive sulphide bodies to date. Mineralization remains open in all three Magistral deposits, the Puajanca zone and the past-producing Santander Pipe, and numerous high-priority targets remain to be tested.
Results from the successful 2009-2010 resource expansion, definition and geotechnical drilling program is currently being incorporated into an updated, independent N.I. 43-101 resource estimate that is anticipated in Q4 of this year.
ABOUT TREVALI RESOURCES CORP.
The Company in conjunction with its partner, Glencore International A.G., has entered into a definitive development agreement for the Santander silver-lead-zinc project in west-central Peru that will see Glencore provide and operate on the property, a 2,000-tonne-per-day concentrate plant, undertake mining operations on a 'contractor/toll basis' and enter into a long-term concentrate offtake agreement with the Company for 100% of the Santander project's production at benchmark terms.
Additionally, through its wholly owned subsidiary Trevali Renewable Energy Inc., the Company is undertaking a significant upgrade of the Tingo run-of-river hydroelectric generating facility along with transmission line upgrades and extensions to allow, in addition to supplying power to the mining operation on the property, the potential sale of surplus power into the Peruvian National Energy Grid.
The common shares of the Company are listed on the Toronto Stock Exchange under the symbol TV. For further details on the Company, readers are referred to the Company's web site (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
TREVALI RESOURCES CORP.
Mark D. Cruise, President
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND "FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF APPLICABLE CANADIAN SECURITIES LEGISLATION. STATEMENTS CONTAINING FORWARD-LOOKING INFORMATION EXPRESS, AS AT THE DATE OF THIS NEWS RELEASE, THE COMPANY'S PLANS, ESTIMATES, FORECASTS, PROJECTIONS, EXPECTATIONS, OR BELIEFS AS TO FUTURE EVENTS OR RESULTS AND THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME ANY OBLIGATION TO, UPDATE SUCH STATEMENTS CONTAINING THE FORWARD-LOOKING INFORMATION. SUCH FORWARD-LOOKING STATEMENTS AND INFORMATION INCLUDE, BUT ARE NOT LIMITED TO STATEMENTS AS TO: THE ACCURACY OF ESTIMATED MINERAL RESERVES AND RESOURCES, ANTICIPATED RESULTS OF FUTURE EXPLORATION, AND FORECAST FUTURE METAL PRICES, ANTICIPATED RESULTS OF FUTURE ELECTRICAL SALES AND EXPECTATIONS THAT ENVIRONMENTAL, PERMITTING, LEGAL, TITLE, TAXATION, SOCIO-ECONOMIC, POLITICAL, MARKETING OR OTHER ISSUES WILL NOT MATERIALLY AFFECT ESTIMATES OF MINERAL RESERVES. THESE STATEMENTS REFLECT THE COMPANY'S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE NECESSARILY BASED UPON A NUMBER OF ASSUMPTIONS AND ESTIMATES THAT, WHILE CONSIDERED REASONABLE BY THE COMPANY, ARE INHERENTLY SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC, COMPETITIVE, POLITICAL AND SOCIAL UNCERTAINTIES AND CONTINGENCIES.
Trevali Resources Corp. Manager - Corporate Communications (604) 488-1661 (604) 408-7499 (FAX) sstakiw@trevali.com www.trevali.com
Source: Marketwire Canada (October 28, 2010 - 9:11 AM EDT)
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Doxa Energy Ltd. Commences Trading on OTCQX
Doxa Energy Ltd. Commences Trading on OTCQX
Oct. 28, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/28/10 -- Doxa Energy Ltd. ("Doxa" or the "Company") (TSX VENTURE: DXA)(OTCQX: DXAEF)(FRANKFURT: 5D0) - is pleased to provide the following update to its shareholders:
Doxa Commences Trading on OTCQX
Doxa reports that as of today, its shares have been called to trade on the premier tier of the OTC market in the United States, the OTCQX. The ticker symbol is "DXAEF". As part of the OTCQX listing process, Doxa Energy is now included in the Standard & Poors Corporation Records publication.
The OTCQX attracts global companies and includes some of the largest companies in the world; its 132 represented companies have a combined market cap of approximately US $750 billion.
John D. Harvison, President and CEO of Doxa Energy stated today that:
"Trading on the premier tier of the OTC is indicative of our commitment to increase investor awareness to Doxa internationally and to offer additional liquidity for our shareholders."
Koehn Well Update
A production test on the previously reported Koehn No. 1 well has been completed (see Doxa news release of October 4, 2010), at which time the well flowed naturally at a high rate of 1,953 MCF per day, 132 BO per day and 0 BW per day on a 14/64" choke with 1,750 psi tubing pressure. As previously disclosed the well exhibits 135' of gross potential pay and 45' of net potential pay from log analysis in the Wilcox formation. The Koehn well is the initial test well on the 445 acre New Beilau Prospect, in Colorado County, Texas. Doxa owns a 6.25% working interest together with a 4.6875% net revenue interest in the prospect.
Facility construction is in progress at the Koehn well and Doxa anticipates commercial production to commence within thirty (30) days of this news release. Doxa will maintain its 6.25% interest in any subsequent operations.
John D. Harvison stated:
"The Koehn No. 1 is the Company's second well to be completed as a commercial producer in the five (5) months since approval of our qualifying transaction."
The first well Doxa placed on production is the Epley No. 1-H, an Eagle Ford horizontal well located in McMullen County, Texas (also see Doxa news release of October 4, 2010).
John D. Harvison, President, Chief Executive Officer
Statements in this press release other than purely historical information, including statements relating to the Company's future plans, objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to the risks and uncertainties inherent in the Company's business, including risks inherent in oil and gas exploration and development, and uncertainties in connection with anticipated commodity prices for oil and natural gas, growth of worldwide market demand, exploration capital requirements, length of asset life and availability of qualified personnel, among others As a result, actual results may vary materially from those described in the forward-looking statements.
All references in this press release to BOE are based on a 6 Mcf to 1 Bbl conversion ratio. BOE's may be misleading particularly if used in isolation. A BOE conversion of 6 Mcf to 1 Bbl is based on the energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
This new release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company in the United States. The securities of Doxa have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to or for the account or benefit of a U.S. person unless so registered or pursuant to an available exemption from the registration requirements of such Act or laws.
Neither TSX Venture Exchange nor its Regulation Services providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Doxa Energy Ltd.
Scott Parsons
Director
604.642.2625
Doxa Energy Ltd.
Paul McKenzie
Director
604.642.2625
604.642.2629 (FAX)
info@doxaenergy.com
www.doxaenergy.com
Source: Marketwire (October 28, 2010 - 9:00 AM EDT)
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(NWMT) NewMarket Technology and the United Nations International Strategy for Disaster Reduction (UNISDR) Wrap Business Development Trade Mission to Kenya
(NWMT) NewMarket Technology and the United Nations International Strategy for Disaster Reduction (UNISDR) Wrap Business Development Trade Mission to Kenya
Oct. 28, 2010 (Marketwire) --
DALLAS, TX -- (Marketwire) -- 10/28/10 -- NewMarket Technology, Inc.'s (PINKSHEETS: NWMT) (OTCQB: NWMT) Greenfield Partnership Program is wrapping up a successful Trade Mission and Private Sector Disaster Risk Reduction Pilot Program in Kenya this week.
The United Nations International Strategy for Disaster Reduction (www.unisdr.org) joined the Greenfield program and the Small Equity Initiative in Nairobi this week on a Trade Mission intended to stimulate small business investment in high growth potential enterprises. The pilot program is intended to urge private sector innovation and investment aimed at reducing disaster risk. To learn more about the Private Sector Disaster Risk Reduction Pilot Program, please visit: http://tinyurl.com/24o2jbb.
The conference began with a welcome from the Kenya Investment Authority (www.investmentkenya.com). During the Trade Mission, team members conducted a series of educational seminars for entrepreneurs including an introduction to capital markets and early and development stage best practices in high growth markets. Additionally, approximately 200 entrepreneurs attended the conference with several entrepreneurs pre-qualified by the Kenya ICT Board (www.ict.go.ke) presenting their business plans to the Trade Mission team. Kenya ICT Board is focused on promoting Kenya as an ICT destination while increasing the country's skilled labor pool and socio-economic enrichment of Kenyan society. The trade mission has been hosted by Savanna East Africa, Inc., (PINKSHEETS: NVAE) (OTCQB: NVAE) a Greenfield Partner company focused on the growing economies of East Africa. The CEOs of China Crescent Enterprises, Inc. (OTCBB: CCTR) and NewMarket Technology, Inc. (PINKSHEETS: NWMT) (OTCQB: NWMT) and the incoming CEO of NuMobile, Inc. (OTCBB: NUBL) also joined the trade mission delegation to develop opportunities in East Africa for their respective companies. China Crescent and NuMobile are both participants in the Greenfield Partnership.
Greenfield Program Webcast
NewMarket recently released a Greenfield Partnership Program Webcast reviewing the Company's operational and financial benefits since founding the program last year. The Webcast also reviews Greenfield program participant companies, the Trade Mission to East Africa and the recently announced pilot program for the United Nations International Strategy for Disaster Reduction (UNISDR). The Webcast also discusses the current state of small business capital formation in the U.S. and globally, the mission of the Greenfield program and the tentative Trade Mission program for 2011.
The Webcast is currently available for review at www.newmarkettechnology.com on the Investor Relations page titled 'NewMarket Technology Greenfield Program Webcast: United Nations Benchmark.'
About the United Nations International Strategy for Disaster Reduction (www.unisdr.org)
The International Strategy for Disaster Reduction (ISDR) is a strategic framework, adopted by United Nations Member States in 2000, aiming to guide and coordinate the efforts of a wide range of partners to achieve substantive reduction in disaster losses and build resilient nations and communities as an essential condition for sustainable development.
About NewMarket Greenfield Partnership Program
NewMarket launched the Greenfield Program last year to facilitate the start-up and early stage development of high-growth potential businesses. The Greenfield Program concentrates on early stage, rapid growth opportunities in the world's emerging markets, with program participants in China, Southeast Asia, South and Central America and East Africa, in addition to a handful of program participants in North America.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket Technology is a global small business incubator. NewMarket's current portfolio of operations provides systems integration, technology infrastructure services and emerging technology. NewMarket's operations strategically focus on providing technology and support services in emerging and developing economies with high growth rate potential where technology purchasing is on the rise. In addition to its base of operations in North America, NewMarket has operations today in the growing economies of China, Southeast Asia, Africa, Brazil and Northern Latin America. Overall, NewMarket reported over $95 million in revenue for 2008 and reported over $98 million in profitable revenue for 2009.
NewMarket's operations provide services and support for both brand-name technologies, such as Microsoft, as well as emerging technologies ranging from mobile computing to various security and wireless broadband technologies. NewMarket's rapid growth since 2002 placed the Company on the Deloitte Technology Fast 500 for 5 consecutive years. NewMarket was recognized as the third fastest growing technology company in the United States in 2006 and the number one fastest growing technology company in North Texas for two years in a row.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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Contact:
NewMarket Technology, Inc.
Investor Relations
Email Contact
214-722-3065
Source: Marketwire (October 28, 2010 - 9:00 AM EDT)
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dPollution (RMGX) Announces Tests on Diesel Train Engine Show Significant Reduction in Emissions
dPollution (RMGX) Announces Tests on Diesel Train Engine Show Significant Reduction in Emissions
The Research on the dPollution Device was Carried Out by Engine System Development Centre (ESDC), a Leading Applied Research Center Dedicated to Large-Bore Diesel Engines
NEW YORK, NEW YORK, Oct. 28, 2010 (Marketwire) -- dPollution International Inc. (PINK SHEETS:RMGX) today announced the impressive results of emissions tests by an independent research facility on its patented dPollution Device.
The tests were conducted by Engine System Development Centre (ESDC), a leading applied research center dedicated to large-bore diesel engines. ESDC is a division of Cad Railway Industries, which is a subsidiary of integrated rail product and service provider Global Railway Industries Ltd. (GBI.TO).
The research was carried out on a single-cylinder, medium-speed diesel research engine. As part of the research, comparisons were made between performance and baseline averages. It was observed that the mass emission rate of total hydrocarbons (THC) was reduced by 12.9%; the rate of carbon monoxide (CO) was reduced by 7.4%; and the rate of particulate matter (PM) was reduced by 6.5%. These values are significant since they exceed the 2% error margin of the emission equipment. The full report has been posted online at the dPollution website, and can be found here.
"We're extremely pleased with the impressive emission-reduction results the dPollution Device produced during the ESDC research evaluation," said dPollution President and Chief Executive Officer Rocco Di Fruscia. "This exacting laboratory test proves that our patented technology has an important role to play in lowering diesel engine transportation pollutants, which are a major cause of global warming and human illness."
The research consisted of ESDC's Simplified Fuel Additive Test (SFAT), which features three separate evaluation phases: a baseline test, a preconditioning test and a performance test. The baseline and performance tests lasted 20 hours, while the preconditioning test lasted 40 hours. The simulated operation mode was at full load, which represents 1050 rpm and 250bhp.
In addition to measuring the test engine's emission output, the research also evaluated the dPollution Device's effect on the engine itself. A borescopic inspection showed the technology had no negative impact on the engine's in-cylinder components.
In the coming weeks, dPollution expects to undertake a field test of the dPollution Device in a short-haul run with a major North American railway.
Locomotive engines are significant contributors to air pollution. There are an estimated 22,000 freight and 270 passenger locomotives operating in the United States alone. The use of locomotives to move goods is projected to keep growing. According to the Environmental Defense Fund, in 1998, rail carried nearly two billion tons of freight, and by 2030 that figure is slated to swell to nearly three billion tons.
About dPollution International Inc.
dPollution (RMGX) owns the exclusive manufacturing and distribution rights to a patented fuel-conditioning technology that reduces polluting emissions and increases mileage. dPollution's innovative products improve engine performance by causing fuel to combust more efficiently and completely. The technology works on all closed-combustion engines, including those used in cars, trucks, buses, trains and heavy equipment. For more information, visit www.dPollution.com.
About Engine System Development Centre (ESDC)
ESDC is an applied Canadian research centre dedicated to large bore diesel engines. ESDC is a division of CAD Railway Industries Ltd. Based in Montreal, Quebec, CAD is an international re-manufacturer of locomotives, rail cars, power generation units and components. CAD is a wholly-owned subsidiary of Global Railway Industries Ltd., an integrated rail product and service provider for the locomotive, railcar and track & signal railway markets in North America. Global Railway Industries shares are listed for trading on the Toronto Stock Exchange (TSX) under the symbol "GBI". For more information, visit www.globalrailway.com.
Forward looking statements
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Risk factors listed from time to time in its news releases and its filings with the PinkSheet OTC Market Services may impact the Company's actual performance and future results. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in forward-looking statements.
dPollution International Inc. President & CEO 514 586-3799 dPollution International Inc. Public Relations 514 586-3799 mike@dpollution.com www.dPollution.com
Source: Marketwire Canada (October 28, 2010 - 8:47 AM EDT)
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