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Sibling Entertainment Group Holdings, Inc. Company Update
Sibling Entertainment Group Holdings, Inc. Company Update
Oct. 28, 2010 (GlobeNewswire) --
NEW YORK, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Sibling Entertainment Group Holdings, Inc. (Pink Sheets:SIBE) (the "Company") provides this corporate update to current and prospective shareholders.
"The Company is currently undergoing a full review of its financial and operational areas and announces that it intends to update its regulatory filings over the next ninety (90) days. In the interim, the following information provided by the Company should prove helpful to shareholders," stated Mr. Maxwell, the Company's Chief Executive Officer.
Current Offices:
The current address of the Company is Sibling Entertainment Group Holdings, Inc., 333 Hudson Street, Suite 407, New York, New York 10013, Phone: 212-414-9600
Current Officers and Directors:
Mitchell Maxwell, President, CEO and Director since June 2007
Richard Bernstein, Director since June 2007.
Issued and Outstanding Stock and Warrants (as of September 30, 2010):
Total Outstanding Common Stock – 25,989,816
Total Outstanding Warrants – 12,190,000, with exercise prices from $.05 to $1.25.
Stock Ownership of Officers and Directors:
Mitchell Maxwell - 3,500,000 shares, 13.47% of outstanding stock
James Cardwell – 1,500,000 shares, 5.77% of outstanding stock
Richard Bernstein – 107,800 shares, 0.41%.of outstanding stock
Debenture Obligations; Litigation:
In 2007, the Company raised $2.55 million under a Private Placement Memorandum. The debentures offered a 13% coupon and became due in June 2009. As of the due date, the Company was delinquent in paying both the principal and interest due to the debenture holders. A group of debenture holders filed a complaint against the Company in early 2010, seeking immediate payment of principal and interest. This group received a default judgment shortly thereafter. The total owed to all debenture holders, including interest as of September 30, 2010, is approximately $3,518,550.
Upon execution of the default judgment, the Company considered filing for protection under bankruptcy law. However, in order to best protect the debt holders and all shareholders the Company has, and is currently examining alternatives, including merging with another company, to address this default judgment. The Company is keeping the debenture holders appraised of the Company's efforts and expect their cooperation moving forward.
There is no other pending litigation against the Company.
Evaluating Alternative Industries:
The Company has elected to explore all merger candidates, including those outside of the entertainment industry. The decision to explore opportunities outside of the entertainment industry was due the recent economic downturn in the entertainment sector, and in turn the demise of many of the Company's investments in the entertainment sector. The Company is actively evaluating opportunities in all industries.
The Company will prepare and disseminate informational updates on its evaluation activities on a timely basis. This information will be publically available to all debenture holders, shareholders, and other interested parties.
Financial Audit of the Company's Financials:
It is the intention of the Company to bring its regulatory filings fully current within 90 days.
Safe Harbor Statement
This release contains forward-looking statements regarding expectations for future financial performance, which involve uncertainty and risk. It is possible the Company's future financial performance may differ from expectations due to a variety of factors including, but not limited to, changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, changes in interest and foreign exchange rates, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The Company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement
CONTACT: Sibling Entertainment Group Holdings, Inc.
Mitchell Maxwell
212-414-9600
Source: Globe Newswire (October 28, 2010 - 8:21 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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Ideal Financial Solutions Engages Top Marketing Firm
Ideal Financial Solutions Engages Top Marketing Firm
Oct. 28, 2010 (GlobeNewswire) --
LAS VEGAS, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (Pink Sheets:IFSL), a creator of various financial products and services for businesses and individuals, is pleased to report that the company has entered into a marketing agreement with RevEngine, a subsidiary of Selling Source, an industry pioneer and leader in the digital marketing services and data solutions markets to companies as large as the Fortune 50.
"We believe Rev Engine is the perfect partner as we continue to grow our business and revenue opportunities," stated Steve Sunyich, CEO, Ideal Financial Solutions. "Our products and services have a strong track record that suggests to us that we can find traction in other markets. RevEngine allows us to pursue these new opportunities in a powerful way, leveraging their proven methods and bringing our products to a broad market of new consumers."
About RevEngine:
RevEngine embodies the future of affiliate marketing. We have aligned a full-service advertising agency and extensive affiliate network dedicated to delivering an incomparable performance marketing experience. Specializing in consulting and full program management built on solid partnerships, the company focuses on business strategy, process and structure to yield short and long-term ROI.
The Network creates and nurtures partnerships between publishers and leading advertisers for advantageous performance-driven marketing programs. As the primary distribution channel and agency of record for a wide-ranging array of offers, in virtually every vertical, these relationships produce profitable results. By providing the underlying technology, unparalleled affiliate expertise with industry-leading management and savvy statistic tools, coupled with transparent performance analytics, The Network offers a distinct advantage for optimal ROI and traffic monetization.
About Ideal Financial Solutions
Based in Las Vegas, Nevada, Ideal Financial Solutions (www.idealfsi.com) provides the education, support and automated tools to create additional cash resources, rapidly eliminate all non-asset-building debt and build financial independence. As a leader in debt relief services, Ideal uses its automated CashFlow Management© tools (www.myifs.com) and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence. To view more information on Ideal's new humanitarian program soon to be launched please visit www.idealgoodness.com. To view a short video demo of our services go to:
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 begin_of_the_skype_highlighting 800-401-8740 end_of_the_skype_highlighting.
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 begin_of_the_skype_highlighting (310) 591-5619 end_of_the_skype_highlighting
Email Contact
Company Contact:
April Sailsbury
(918) 388-3529 begin_of_the_skype_highlighting (918) 388-3529 end_of_the_skype_highlighting
Email Contact
Source: Marketwire (October 28, 2010 - 6:00 AM EDT)
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Silver Falcon Mining, Inc. (SFMI) Converts Inventory of Concentrates to Cash Revenue
Silver Falcon Mining, Inc. (SFMI) Converts Inventory of Concentrates to Cash Revenue
Oct. 27, 2010 (Marketwire) --
MURPHY, ID -- (Marketwire) -- 10/27/10 -- Silver Falcon Mining, Inc. (OTCBB: SFMI) has contracted to smelt and sell for CASH REVENUE its first shipment of Gold and Silver concentrate from its operation at the 100% owned Diamond Creek Mill in Murphy, Idaho.
Arrangements have been made with a reputable smelting house for this first shipment and sale of five hundred eight pounds (508) of precious metal bearing concentrate, produced from the first 491 hours (approx. 20 days) of mill operations from May 17, 2010. Concentrate is an amalgamation of metals including gold and silver; once smelted the true gold and silver values of this 508 pounds will be realized. This smelt will result in CASH REVENUE that Management believes will be inked in its 4th quarter of operations.
The Company continues to process ore and accumulate, in its vaults, inventories of concentrates, readying for future shipments.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "We have completed the circle in the transformation of the tailings from War Eagle Mountain which began with the hauling of the Belle Peck adit tailings. These are very exciting times for us as we can now concentrate on increasing production at the mill. This will be achieved in two ways: First, we will now switch the production to the Oso tailing zone, a higher grade of ore currently being stockpiled in the Diamond Creek Mill yard. And, second, in order to increase production beyond the present 125 tpd (tons per day) capacity, the Company will be purchasing more plant equipment." He further adds, "During our continued evaluations of the numerous shafts and vein structures throughout War Eagle Mountain, some exciting new discoveries have come to light and will generate forthcoming announcements."
Silver Falcon Mining, Inc. is an exploration and development Company specializing in high-grade Gold and Silver mining properties in North America.
Further Information about this release and the ongoing operations at SFMI, contact Rich Kaiser, Investor Relations, 800-631-1827, www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
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For further Information, contact
Rich Kaiser
Investor Relations
800-631-1827
www.silverfalconmining.com
Source: Marketwire (October 27, 2010 - 9:15 AM EDT)
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Capsalus announces investment in WUAH online social network
Capsalus announces investment in WUAH online social network
Oct. 27, 2010 (M2 Communications Ltd.) --
Capsalus Corp (OTCBB:WELL), a holding company operating in the fields of health, wellness and goodness, declared on Tuesday that it has invested in the online social network Wish Upon A Hero (WUAH), which connects people in need with those who want to help.
The partnership will support WUAH’s growth and business performance.
Capsalus said that this partnership enables the company to increase shareholder value, diversify its investment portfolio and expand its media and technology practice.
Conceived by Dave Girgenti after the 9/11 attacks, WUAH allows a community of people to post their personal needs online while other community members respond to grant the wishes.
WUAH joins Capsalus’ current portfolio of companies in the consumer products, media and technology, biotechnology and healthcare industries.
(Comments on this story may be sent to tww.feedback@m2.com)
Source: M2 Presswire (October 27, 2010 - 7:59 AM EDT)
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CRWESelect.com Highlights: - ProLogis (NYSE:PLD), and Patriot Scientific Corporation (OTC Bulletin Board:PTSC.ob)
CRWESelect.com Highlights: - ProLogis (NYSE:PLD), and Patriot Scientific Corporation (OTC Bulletin Board:PTSC.ob)
Oct. 27, 2010 (M2 Communications Ltd.) --
Las Vegas, NV — CRWESelect.com announces a Stock Watch Highlight on the followin2 companies: - ProLogis and Patriot Scientific Corporation
CRWESelect.com provides up to the minute stock information! To receive free stock Highlights, sign up for your free newsletter at http://crweselect.com.
ProLogis (NYSE:PLD), the leading global provider of distribution facilities, announced on October 26, 2010 the pricing of 80 million common shares in a public offering at a price of $12.30 per share. The company has granted the underwriters a 30-day option to purchase up to an additional 12 million shares to cover overallotments, if any. BofA Merrill Lynch, Morgan Stanley, Goldman, Sachs & Co. and J.P. Morgan acted as joint bookrunners for the offering. Subject to customary conditions, the offering is expected to close on or about November 1, 2010.
About ProLogis
ProLogis is the leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs.
Patriot Scientific Corporation (OTC Bulletin Board:PTSC.ob) announced on October 26, 2010 that Cummins Inc. has purchased an MMPâ„¢ Portfolio license from The TPL Group. Cummins Inc. is a global power leader that designs, manufactures, sells and services diesel engines and related technology around the world.
About Patriot Scientific Corporation
Patriot Scientific Corporation, an intellectual-property licensing company, engages in the design, development, and sale of technologies for microprocessor chips in the United States. The company’s technologies are used in computers, cameras, printers, automotive, and industrial devices. It also provides data sharing and secure data solutions for the critical data/information sharing needs of the healthcare industry, the Department of Homeland Security, and the Department of Justice, as well as of federal, state, and local public safety and law enforcement agencies.
About CRWESelect.com
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Please see disclaimer on CRWESelect.com website: http://crweselect.com/?page_id=26
(Comments on this story may be sent to tww.feedback@m2.com)
Source: M2 Presswire (October 27, 2010 - 7:35 AM EDT)
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Canada Post Becomes First Customer for Azure Dynamics and Ford of Canada's Transit Connect Electric Van
Canada Post Becomes First Customer for Azure Dynamics and Ford of Canada's Transit Connect Electric Van
Oct. 27, 2010 (Canada NewsWire Group) --
OAK PARK, MI, Oct. 27 /CNW/ - Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) ("Azure" or the "Company"), the fast growing hybrid electric and electric power train innovator for the commercial truck market, and Ford Motor Company of Canada, Limited, announced today that they will deliver one of the first Transit Connect Electric commercial vans to Canada Post under the LEAD customer program. Canada Post will receive one of the exclusive Ford Transit Connect Electric delivery vehicles by the end of this year and has committed to the purchase of nine more by end of 2011.
"Canada Post is the first Canadian company to sign on to this exclusive and innovative vehicle program aimed at providing environmental solutions to the commercial delivery market," said Scott Harrison, Azure Dynamics CEO. "The transformative technology of the Transit Connect Electric reduces gasoline fuel costs to zero, produces no tailpipe emissions and is virtually silent as it travels through urban and suburban delivery routes. The progressive attitude of companies like Canada Post will contribute to making an important environmental impact."
The new van's electric drive performance attributes are well suited to fleets like Canada Post that have duty cycles characterized by predictable routes with frequent stop and go driving and high idle time.
"As one of the largest communications and logistics companies in Canada, we're proud to be among the first to implement a fully electric delivery vehicle on our roads," says Doug Jones, Senior Vice President, Operations at Canada Post. "We expect that this new vehicle will bring us one step further along our path to reduce both our overall fuel emissions and our carbon footprint on the environment."
The Transit Connect Electric integrates Azure's Force DriveTM electric powertrain into Ford's dedicated global commercial van platform that received the 2010 North American Truck of the Year award. Its unique combination of car-like driving dynamics, cargo capacity, maneuverability, accessibility and low operating costs are characteristics that make the Transit Connect an ideal choice for electrification.
"At Ford, we are dedicated to delivering quality, safe and fuel efficient vehicles to Canadian businesses - and the Ford Transit Connect delivers on all fronts," said David Mondragon, president and CEO, Ford of Canada. "The Ford Transit Connect Electric represents a win-win for both the environment and for Canada Post - it allows them to operate a more environmentally-friendly vehicle while helping to reduce their CO2 emissions as well as their need for gasoline."
The Ford Transit Connect Electric utilizes an advanced lithium-ion battery from Johnson Controls-Saft to achieve a range of up to 130 km (80 miles) on a single charge and is rechargeable using either a 240-volt or standard 120-volt outlet. Commercial vans generally return to a central location at the end of each driving cycle making for easy overnight recharging.
For more information on how Azure Dynamics products are Driving a World of Difference, please visit www.azuredynamics.com.
About Canada Post
With 71,000 employees and more than 6,500 post offices, The Canada Post Group - including affiliates Purolator Courier and SCI Group, as well as Innovapost (a joint venture with CGI), maintains the largest retail and transportation network in the country. Canada Post delivered close to 11 billion pieces in 2009 to 15 million points of call across Canada, posting $7.3 billion in revenue. Canada Post provides innovative physical and electronic delivery solutions, creating value for our customers, employees and Canadians. Canada Post has been chosen as one of Canada's Top 100 employers by Mediacorp for the past four years and in 2009 was named "Most Iconic Brand in Canada" by Brand Finance Canada. Website: canadapost.ca.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with a variety of partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. For more information please visit www.azuredynamics.com.
About Ford Motor Company of Canada, Limited
Ford of Canada's operations include a national headquarters, three regional offices, two branch offices, four vehicle assembly and engine manufacturing plants, and two parts distribution centres. Ford employs approximately 7,000 people in Canada, while an additional 18,000 people are employed in the more than 400 Ford and Ford-Lincoln dealerships across the country. For more information, please visit www.ford.ca
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This press release contains forward-looking statements. More particularly, this press release contains statements concerning Azure's business development strategy, projected commercial revenues and product deliveries.
The forward-looking statements are based on certain key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables for development programs, target market acceptance of Azure's products, current and new product performance, availability and cost of labor and expertise, and evolving markets for power for transportation vehicles. Although Azure believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with Azure's early stage of development, lack of product revenues and history of losses, requirements for additional financing, uncertainty as to commercial viability, uncertainty as to product development and commercialization milestones being met, uncertainty as to the market for Azure's products and unproven acceptance of Azure's technology, competition for capital, product market and personnel, uncertainty as to target markets, dependence upon third parties, changes in environmental laws or policies, uncertainty as to patent and proprietary rights, availability of management and key personnel, and acquisition integration risk. These risks are set out in more detail in Azure's annual information form which can be accessed at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Mike Elwood, Vice President-Marketing (905) 607-3486 x6203
Email: melwood@azuredynamics.com
Pat Liebler, Liebler Group, (313) 832-4376
Email: pat@lieblergroup.com
Kerri Stoakley, Ford of Canada, (905) 845-2511 x1562
Email: kstoakle@ford.com
John Caines, Canada Post Media Relations, (613) 734-8888
Source: Canada Newswire (October 27, 2010 - 7:30 AM EDT)
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FireIce Nears Certification Completion
FireIce Nears Certification Completion
Oct. 27, 2010 (GlobeNewswire) --
JUPITER, Fla., Oct. 27, 2010 (GLOBE NEWSWIRE) -- GelTech Solutions Inc. (OTCBB:GLTC), creators of FireIce, a revolutionary water enhancing fire suppressant that has the potential to change current firefighting techniques globally, announced today that the company was informed by the US Forest Service that only four (4) tests remain in order to be listed on the Qualified Product List (QPL).
According to a US Forrest Service spokesperson, "FireIce is successfully moving through the testing process and all reported results are acceptable to the USFS to ensure compliance with Specification 5100-306A which is necessary to achieve its QPL listing."
Michael Cordani, CEO of GelTech Solutions stated, "FireIce continues to perform as expected. Gaining the United States Forest Service 'stamp of approval' would be a significant inflection point for FireIce and our Company. Being listed on the Forest Service 'QPL' would allow us to assist with large scale wildfires in the United States, and around the world. We believe that FireIce is a valuable tool for putting out wildfires." Cordani added that "the Company has successfully independently completed the remaining tests being done by the US Forest Service and we expect the same outcome with the US Forest Service".
About GelTech Solutions, Inc.
GelTech Solutions creates innovative, Earth-friendly, cost-effective products that help industry, agriculture, and the general public accomplish environmental and safety goals, such as water conservation and the protection of lives, homes, and property from fires. FireIce(R) is a patent pending fire suppressant used for direct attack of fires as well as a medium term retardant for structure protection. FireIce can be used in all types of apparatus; fire extinguishers, pumper trucks, aerial units for wildfires and home defense units for personal home protection.
For more information on GelTech, please visit: http://www.GelTechSolutions.com
To learn more about FireIce, please visit: http://www.fireice.com
Join our growing FireIce fan base at: http://www.facebook.com/FireIce911
Become a fan of our new homeowner solution at: http://www.facebook.com/FireIceHDU
CONTACT: DRC Partners, LLC
Investor Contact:
Ross DiMaggio
(609) 718-0777
Source: Globe Newswire (October 27, 2010 - 7:30 AM EDT)
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Zim acquires Torch technology assets
Zim acquires Torch technology assets
Oct. 27, 2010 (M2 Communications Ltd.) --
Zim Corporation (OTCBB:ZIMCF), a provider of software and services for the database and mobile markets, said today that it has acquired the technology assets of Torch Technologies, a provider of database migration tools.
The company said that the acquisition of Torch's database migration and management products will strengthen its portfolio of enterprise database products.
Terms of the transaction were not disclosed.
(Comments on this story may be sent to tww.feedback@m2.com)
Source: M2 Presswire (October 27, 2010 - 7:13 AM EDT)
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EPA to Set Standards for Diesel Fuel Efficiency and Emissions
EPA to Set Standards for Diesel Fuel Efficiency and Emissions
Newly Proposed Environmental Regulation to Pave Road for STWA's ELEKTRA(TM)
Oct. 27, 2010 (Marketwire) --
SANTA BARBARA, CA -- (Marketwire) -- 10/27/10 -- STWA, Inc. (OTCBB: ZERO) ("STWA" or the "Company"), an innovative company creating technology focused on energy efficiency of large-scale energy production and improved fuel economy for diesel fleets, today responded to a recent announcement by the U.S. Environmental Protection Agency (EPA) to set standards for diesel fuel efficiency and emissions. The proposal represents the first ever fuel efficiency standards for tractor-trailers and other commercial vehicles.
According to a recent press report from Reuters, the Obama administration earlier this year directed the Transportation Department and the EPA to set the first fuel efficiency standards for both medium- and heavy-duty trucks to reduce greenhouse gases. The regulations cover upcoming 2014-2018 model years, and are expected to cut emissions by 250 million tons of greenhouse gas emissions and save 500 million barrels of oil over the lives of the trucks.
"These new standards, set by the EPA to lower diesel emissions, truly pave the way for STWA's ELEKTRA™," said Mr. Cecil Bond Kyte, Chairman and CEO of STWA, Inc. "Our Technology is designed to enable better vaporization of fuel, allowing fuel injectors to spray a finer mist, which burns more quickly, completely and efficiently, resulting in measureable reductions in fuel consumption and reduced emissions from diesel engines. We are developing our ELEKTRA™ technology to help existing truck fleets become compliant and more profitable under these new EPA mandates without having to replace all their trucks with these expensive new hybrid exotics, and do so with a fast ROI."
Mr. Kyte added, "We have identified co-development and distribution chains for a commercialized version to address our identified $5 billion immediately addressable market. Our potential customers continue to express an interest in purchasing the product once a commercial version is available, and given this recent political mandate, I believe that interest will only get stronger."
About STWA, Inc.
STWA, Inc. (OTCBB: ZERO) is an innovative company creating technology focused on energy efficiency of large-scale energy production and improved fuel economy for diesel fleets. The Company's Patented and Patent Pending technologies, including AOT™ (Applied Oil Technology), under development with Temple University, and ELEKTRA™ (for Improved Diesel Engine Efficiency), provide efficient and cost-effective means of improving the efficacy of crude oil transport and diesel engine efficiency to assist in meeting global increasing energy demands and emission quality standards. Applications include: (AOT™) Crude oil extraction & delivery systems, including oil platforms, oil fields and pipeline transmission systems. (ELEKTRA™) Diesel trucks, trains, marine vessels, military fleets and jet turbines.
More information including a company Fact Sheet, logos and media articles are available at: http://www.irthcommunications.com/clients_ZERO.php, and at: http://www.stwa.com
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Relations Contact:
Mr. Andrew Haag
Managing Partner
IRTH Communications, LLC
Tel: +1-866-976-IRTH (4784)
E-Mail: Email Contact
Website: www.irthcommunications.com
Company Website: www.stwa.com
Source: Marketwire (October 27, 2010 - 7:07 AM EDT)
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Independent Clinical Results Demonstrate Outstanding Effectiveness of INVOcell Process
Independent Clinical Results Demonstrate Outstanding Effectiveness of INVOcell Process
Results Show 43% Clinical Pregnancy Rate per INVOcell cycle; Pregnancy Rates Comparable to Traditional IVF; Dramatically Lower Incidence of Multiple Births
Oct. 27, 2010 (PR Newswire) --
DENVER and BEVERLY, Mass. -- INVO Bioscience, Inc. (OTC Bulletin Board: IVOB), a medical device company focused on treatment options for patients diagnosed with infertility, announced today that Dr. Elkin Lucena of the Columbian Fertility and Sterility Center (CECOLFES LTDA) in Bogota, Colombia presented the results of the Center's first 95 fertility treatment cycles utilizing INVO Bioscience's INVOcell for couples with fertility issues at the 66th Annual Meeting of the American Society of Reproductive Medicine (ASRM) in Denver.
The presentation revealed that CECOLFES produced clinical pregnancy rates of 43% per INVOcell cycle and a 48% clinical pregnancy rate when an embryo has been transferred in the cycle. This outstanding effectiveness was achieved in cycles completed in women from ages 21 to 45. The clinical pregnancy rate for patients aged 40 and younger was 46%. According to the U.S. Center for Disease Control (CDC) current infertility treatments are in the same range of efficacy. The CECOLFES results also indicated that multiple pregnancies occurred in 10% of the patients in the study compared to 30% multiple pregnancies that occur in more traditional fertility treatment regimes. Multiple pregnancies can cause very serious and expensive complications.
Claude Ranoux, MD, MS, president and chief scientific officer for INVO Bioscience, Inc., commented, "We are delighted with the results presented by the Colombian Fertility and Sterility Center and Dr. Lucena. These results are consistent with our in-house data. It is important to note that in the INVOcell process significantly fewer eggs are recruited from patients, which decreases the risk of multiple births and reduces the number of premature births. Combining the comparative cost advantage of the INVOcell treatment versus current treatment regimes, and the ability to significantly reduce the occurrence of multiple pregnancies and their substantial incremental costs, positions INVOcell as an important therapy for infertility patients. The INVO procedure can generate outstanding results while significantly bringing down fertility treatment costs. We are very pleased with these results."
Dr. Ranoux continued, "The report of these results is an important development in the history of the INVOcell device and process. The presentation of the positive results of this data at the prestigious ASRM Annual Meeting represents a powerful affirmation by one of the renowned pioneers in the fertility field, Dr. Lucena, as an effective, safe, and cost efficient technology. The INVO procedure will address a problem that affects millions of infertile patients worldwide. We look forward to leveraging this event as we continue our efforts to widely commercialize this revolutionary alternative for deserving patients in need of these life-fulfilling treatments."
INVOcell is CE Mark approved in Europe and Canada and conforms with all consumer health and safety requirements. INVOcell is currently marketed and sold in Austria, Canada, Cameroon, Columbia, Dominican Republic, Guatemala, Nicaragua, Pakistan, Panama, Peru, Spain, Togo, Turkey, and Venezuela.
About CECOLFES LTDA
The Colombian Fertility and Sterility Center - "CECOLFES LTDA." – is a private institution established in 1978 under the scientific leadership of Prof. Elkin Lucena, MD, BMR, with the corporate aim of offering to the community and, in particular, to the growing number of infertile couples, state-of-the-art scientific technologies in the area of assisted human reproduction. For more information, please visit www.cecolfes.com/index.php?idioma=en
Dr. Elkin Lucena is a noted expert in the field of reproductive health and infertility. Dr. Lucena produced the first baby born by IVF (In Vitro Fertilization) in South America and he and his team continue to pioneer reproductive technologies throughout South America.
About INVO Bioscience
INVO Bioscience (IVOB) is a medical device company, headquartered in Beverly, Massachusetts, focused on creating simplified, lower cost treatment options for patients diagnosed with infertility. The company's lead product, the INVOcell, is a novel medical device used in infertility treatment that enables egg fertilization and early embryo development in the woman's vaginal cavity. The company was founded by Claude Ranoux, MD, a noted expert in the field of reproductive health, infertility and embryology. For more information, please visit www.invobioscience.com.
Private Securities Litigation Reform Act of 1995
This release includes 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. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Kathleen Karloff
INVO Bioscience, Inc.
978-878-9505 ext 504
www.invobioscience.com
Equiti-Trend Advisors
800-953-3550
SOURCE INVO Bioscience, Inc.
Kathleen Karloff of INVO Bioscience, Inc., +1-978-878-9505 ext. 504, or Equiti-Trend Advisors, 1-800-953-3550
Source: PR Newswire (October 27, 2010 - 7:00 AM EDT)
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SouthPeak Introduces New Line of Interactive Educational Games for Nintendo DS(TM)
SouthPeak Introduces New Line of Interactive Educational Games for Nintendo DS(TM)
Tap and Teach: The Story of Noah's Ark Slated for November 2010
Release
Oct. 27, 2010 (Business Wire) -- SouthPeak Interactive Corporation (OTC BB: SOPK) today announced that it will publish a new line of interactive educational products for Nintendo DS™ created by Razorback Developments. The first game in this series will be Tap and Teach: The Story of Noah’s Ark, scheduled for release in November 2010.
SouthPeak Introduces New Line of Interactive Educational Games for Nintendo DS(TM) (Photo: Business Wire)
“Interactive education games represent a large untapped market opportunity and a natural fit for our Company,” said Melanie Mroz, President and CEO of SouthPeak Interactive. “The introduction of Noah’s Ark and subsequent learning oriented titles, are key to advancing our strategic initiatives designed to capture share of the rapidly expanding educational gaming sector. Given its large install base of millions of young users, Nintendo DS is an ideal platform for delivering educational content and introducing interactive teaching tools that parents and children can enjoy.”
Tap and Teach: The Story of Noah’s Ark is an interactive storybook designed to improve the reading skills of 3-6 year old children via a fully narrated read-along version of the classic story. Charming interactive illustrations depicting adorable characters and creatures bring each reading session to vivid life, all the while extending vocabulary and letter and word recognition. In addition to the storybook aspect of the program, supplemental activities include exercises in spelling, creativity, music and more.
“The Tap and Teach titles are all about those special moments shared by parents and young children,” said Jeff Tawney of Razorback. “They offer good, wholesome fun that parents can trust to help develop those basic everyday skills their kids need. We are very proud of the work our team has done with this modern interpretation of such a well-loved story and we are excited at the prospect of extending the Tap and Teach range.”
SouthPeak plans to release Razorback’s Tap and Teach: The Story of Noah’s Ark exclusively on Nintendo DS in November 2010. For more information, visit http://www.southpeakgames.com
About SouthPeak Interactive Corporation
SouthPeak Interactive Corporation develops and publishes interactive entertainment software for all current hardware platforms including: Xbox 360® videogame and entertainment system from Microsoft, PlayStation®3 computer entertainment system, PSP® (PlayStation® Portable) system, PlayStation®2 computer entertainment system, Wii™, Nintendo DS™, iPhone and Windows PC. SouthPeak's games cover all major genres including action/adventure, role-playing, strategy, racing, puzzle, sports and edutainment. SouthPeak's products are sold in retail outlets in North America, South and Central America, Europe, Australia and Asia. SouthPeak is headquartered in Midlothian, Virginia, and has offices in Grapevine, Texas and Leicester, England.
SouthPeak’s extensive portfolio of over 60 interactive entertainment games spans a variety of platforms and genres including RPG, simulation, FPS, sports, strategy, puzzle and fighting.
For additional information, please visit SouthPeak’s corporate website: www.southpeakgames.com
If you would like to be added to SouthPeak’s email list to receive news directly, please send your request to southpeak@tpg-ir.com.
About Razorback Developments
Razorback Developments is a specialist developer of handheld games. Based in the UK, it was founded in 2003 and is owned and managed by David Leitch and Jeff Tawney.
Nominated for the “Best Handheld Games Studio” in the 2006 UK Develop Awards, Razorback’s team has many years’ experience in developing both original and licensed games in virtually all categories and on virtually all key formats.
With a track record of charming its players, Razorback’s “Tap and Teach” division is currently focussing on new ways of entertaining and educating 3-6 year old children.
For more information please visit www.razorback.co.uk
Forward-Looking Statements
This release contains “forward-looking” statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These are statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “expects,” “projects,” “anticipates,” “estimates,” “believes,” “intends,” “plans,” “should,” “seeks,” and similar expressions. This press release contains forward-looking statements relating to, among other things, SouthPeak’s expectations and assumptions concerning future financial performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual future results to differ materially from those projected or contemplated in the forward-looking statements. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in SouthPeak’s filings with the Securities and Exchange Commission.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6485131&lang=en
Media:
SouthPeak
Aubrey Norris, 817-305-0055
PR Manager
anorris@southpeakgames.com
or
Investors:
Brandi Floberg or Lee Roth
212-481-2050
southpeak@tpg-ir.com
Source: Business Wire (October 27, 2010 - 7:00 AM EDT)
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Royal Mines Signs MOU for a JV With Golden Anvil
Royal Mines Signs MOU for a JV With Golden Anvil
Concentration Plant Ready to Produce
Oct. 27, 2010 (Marketwire) --
HENDERSON, NV -- (Marketwire) -- 10/27/10 -- Royal Mines and Minerals Corp. (OTCBB: RYMM) (Royal Mines), an exploration stage company focused on the development of mining projects in North America, is pleased to report that the company has executed a Memorandum of Understanding (MOU) for a joint venture in the exploration, development and production of mineral claims owned by Golden Anvil, SA de CV (Golden Anvil) in the State of Nayarit, Mexico.
Royal Mines and Golden Anvil have formed a Nevada corporation, Golden Anvil, Inc. (GAI), in which each company has a fifty percent (50%) ownership. GAI will act as the operating corporation for the joint venture between Royal Mines and Golden Anvil. Upon Royal Mines contributing a total $3,000,000, within the timeline outlined in the MOU, Golden Anvil will transfer 32,521 acres of mineral claims (as defined in the MOU) and all the assets of Golden Anvil's ore concentration plant into GAI.
To date, Royal Mines has advanced Golden Anvil $600,000, of the $3,000,000, to pay costs to secure land needed for the concentration plant and to fund the relocation and upgrading of the plant. We expect the plant to begin operations within 30 days, at an initial projected production rate of 100 tons of head ore per day, from which we project to produce up to 35 tons of concentrate the first month of operation. Within the second month of operation, we project to increase the production rate to 200 tons of head ore per day, producing up to 75 tons of concentrate per month.
In accordance with the MOU, Royal Mines plans to raise and contribute an additional $300,000, within 45 days, to pay for specific mining claim debts and to provide 45 to 60 days working capital, after which we expect the operation to produce a positive cash flow. Based on the limited tonnage of Golden Anvil concentrate Royal Mines has processed in the past, we anticipate each ton of concentrate to contain approximately 5 oz of gold and 200 oz of silver. Prior to relocating the concentration plant, Royal Mines had processed and poured approximately 25 oz of gold and 400 oz of silver from the Golden Anvil concentrate.
Mike Boyko, Director of Operations for Royal Mines, is presently in Mexico with the Golden Anvil team performing preliminary operational tests at the plant. We plan to have a concentration specialist on-site at the plant the first two weeks of operation to ensure the plant is operating at its optimized concentrating capability. For additional information, please read the MOU which has been filed with SEC.
Royal Mines is continuing to develop and improve its environmentally friendly lixiviation processes both in the laboratory and in our facility in Phoenix, and we are testing ores and evaluating projects from the United States, Canada, Mexico, Ecuador, Bolivia, Peru, Chile, Guyana and the Philippines.
About Royal Mines and Minerals Corp.:
Royal Mines and Minerals Corp. is a minerals exploration company. Our primary objectives are to 1) commercially extract and refine precious and base metals from our own and others mining assets, 2) joint venture, acquire and develop mining projects in North America, and 3) generate ongoing revenues from the licensing of our proprietary, environmentally-friendly lixiviation process. We have not yet realized significant revenues from our primary objectives. Additional information is available on Royal Mines' website at www.royalmmc.com and in its filings with the U.S. Securities and Exchange Commission.
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. In particular, there are no assurances that the proposed joint venture will be formalized on the terms contemplated or at all or that Royal Mines will be successful in raising the balance of funding required to meet the joint venture financing to be provided by it. In addition, the date the concentration plant begins operations is subject to many uncertainties and there is no assurance that positive cash flow will be achieved when contemplated or at all. There is also no assurance that future concentrates produced from the Golden Anvil Mine will yield the same recovery as concentrates previously processed by Royal Mines.
Cautionary Note to Investors
The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," and "inferred," that the SEC guidelines strictly prohibit us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our SEC filings, File No. 000-52391. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml.
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For more information contact:
Royal Mines and Minerals Corp.
Jason S. Mitchell
CFO, Secretary and Treasurer
(702) 588-5973
Email Contact
Source: Marketwire (October 27, 2010 - 7:00 AM EDT)
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Intellect Neurosciences, Inc. Obtains OX1 Phase 1b Draft Report Showing the Company's Lead Alzheimer's Candidate Was Safe and Well-Tolerated at All Dose Levels Tested
Intellect Neurosciences, Inc. Obtains OX1 Phase 1b Draft Report Showing the Company's Lead Alzheimer's Candidate Was Safe and Well-Tolerated at All Dose Levels Tested
Final Report Anticipated in December
Oct. 27, 2010 (GlobeNewswire) --
NEW YORK, Oct. 27, 2010 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (OTCBB:ILNS), a biopharmaceutical company with an internal preclinical and clinical-stage pipeline and licenses with major pharmaceutical companies covering products in late-stage clinical trials, announced that it has obtained an initial draft report of the Company's Phase 1b clinical trial for its lead Alzheimer's candidate, OXIGON™ (OX1). The Company tested OX1 for safety and tolerability in 3 groups of 12 healthy elderly volunteers aged 60 or more during 14 days of repeated dosing in a double blind, randomized, placebo-controlled, multiple escalating dose study. Each group consisted of 4 subjects receiving placebo and eight subjects receiving OX1 at doses of 200, 400 or 800 mg daily. The main conclusions of the draft report are that OX1 was safe and well tolerated at all dose levels, that there was no relationship between the frequency, incidence, severity, onset or duration of any the Adverse Events (AEs) and that these were not different from those in subjects receiving placebo. Intellect is the sponsor of this trial, which was conducted by Kendle, a global clinical research organization, through the Kendle Clinical Pharmacology Unit located in Utrecht, The Netherlands.
Dr. Daniel Chain, Chairman and Chief Executive Officer of Intellect, commented: "OX1 is the most advanced candidate in our internal pipeline and we are pleased to obtain this encouraging data concerning the safety of OX1 in humans. Much of the neurotoxicity in the Alzheimer's brain is believed to be related to the toxicity from super reactive oxygen species ("ROS") produced in the brain by beta amyloid bound to copper. Our excitement about the potential of OX1 as a disease-modifying treatment is based on this drug's unusual dual mechanism of action both as an extremely potent antioxidant and direct inhibitor of amyloid aggregation, apparently by interacting with the high affinity copper binding site. These properties make OX1 a promising form of treatment for Alzheimer's and numerous other indications involving copper mediated redox reactions. Moreover, the drug was previously shown to have strong neuroprotective effects in the brain especially against damage to cell membranes and DNA caused by ROS from different sources. For example, among independent research spanning more than a decade, a report last year in the Journal of Neuroscience (Volume 87, Issue 9, pages, 2126-2137, 2009) showed that in rodents, OX1 attenuates neuronal damage and oxidative stress in the ischemic hippocampus, the memory center of the brain."
Dr. Chain continued: "We anticipate obtaining a final audited report in December containing pharmacokinetic and other data concerning secondary objectives of the trial. We believe, based on discussions with potential pharma partners and other third parties, that positive data from planned proof of concept trials in patients would help secure a strategic partnership to accelerate OX1's development and commercialization. Typically, license and or collaborations with large pharmaceutical companies yield substantial revenues from license fees, development milestone payments and royalties from sales."
About OXIGON™ (OX1)
The development of the OXIGON™ compound has been supported in part by the National Institute of Aging, the BIRD Foundation and The Institute for the Study of Aging. Intellect is developing OXIGON™ as a drug candidate for Alzheimer's disease and is exploring additional indications. The drug has disease-modifying potential because it has potent antioxidant activity and also can prevent aggregation, neurotoxicity and deposition of amyloid beta. The molecule was recently shown to act by a copper-binding mechanism, providing important insight into how the drug neutralizes neurotoxicity in the brain. OXIGON™ has been tested in human Phase 1 trials for safety and tolerability at various doses and durations in a total of 90 elderly, healthy volunteers. The next planned stage of testing will be in patients with Alzheimer's disease. OX1 has broad potential for use in the treatment of other neurodegenerative conditions, such as Parkinson's disease, motor neuron disease and Wilson's disease.
About Alzheimer's Disease
Alzheimer's disease, the most common form of dementia, is characterized by progressive loss of memory and cognition, ultimately leading to complete debilitation and death. A hallmark feature of Alzheimer's pathology is the presence of insoluble protein deposits, known as amyloid beta, on the surface of nerve cells, which results from the accumulation of soluble neurotoxic amyloid beta in the brain. The effects of the disease are devastating to patients as well as their caregivers, with significant associated health care costs. It is estimated that there are more than five million Americans and about 30 million people worldwide suffering from Alzheimer's disease, with the number expected to increase dramatically as the global population ages. Currently marketed drugs transiently affect some symptoms of the disease, but there are no drugs on the market today that slow or arrest the progression of the disease. These symptomatic drugs are projected to generate more than U.S. $6 billion in sales this year, indicating both the size of the market and the demand for effective treatment beyond symptomatic improvements.
About Intellect Neurosciences, Inc.
Intellect Neurosciences, Inc. is a Manhattan-based biopharmaceutical company engaged in the discovery and development of disease-modifying therapeutic agents for the treatment and prevention of Alzheimer's disease and other disorders. The Company's drug product pipeline includes OX1, which has been tested in Phase 1 clinical trials; IN-N01, a humanized monoclonal antibody designed to promote the clearance of soluble amyloid beta; and RECALL-VAX, a vaccine technology that has the potential to delay or prevent Alzheimer's disease in people who are at risk.
The Company has significant intellectual property assets, which include several patent families underlying the Company's internal programs, and a pivotal patent estate regarding passive AD immunotherapy.
The Company's ANTISENILIN® patent estate claims monoclonal antibodies that bind either end of amyloid beta but do not interact with the amyloid precursor protein from which amyloid beta is produced in the body. This high degree of specificity is an important safety feature reducing the potential for adverse affects. Examples of monoclonal antibodies exhibiting this property are Bapineuzumab and Ponezumab in Alzheimer's Phase 3 and Phase 2 clinical trials, respectively (http://clinicaltrials.gov/ct2/show/NCT00574132?term=bapineuzumab&rank=1; http://clinicaltrials.gov/ct2/results?term=PF-04360365).
Patents have been granted in Europe, Japan, China and elsewhere, and are pending in the United States. Intellect has granted royalty-bearing licenses to its ANTISENILIN® patent estate to several top tier global pharmaceutical companies developing monoclonal antibodies for Alzheimer's disease. For further information, see the Company's filings with the Securities and Exchange Commission, including Forms 8-K filed on:
May 1, 2009
http://www.sec.gov/Archives/edgar/data/1337905/000114420409023426/v147731_8k.htm
January 8, 2009
http://www.sec.gov/Archives/edgar/data/1337905/000114420409000980/0001144204-09-000980-index.htm
October 14, 2008
http://www.sec.gov/Archives/edgar/data/1337905/000114420408057464/0001144204-08-057464-index.htm
May 19, 2008
http://www.sec.gov/Archives/edgar/data/1337905/000114420408030722/v115138_8k.htm
Safe Harbor Statement Regarding Forward-Looking Statements:
The statements in this release and oral statements made by representatives of Intellect relating to matters that are not historical facts (including without limitation those regarding future performance or financial results, the timing or potential outcomes of research collaborations or clinical trials, any market that might develop for any of Intellect's product candidates and the sufficiency of Intellect's cash and other capital resources) are forward-looking statements that involve risks and uncertainties, including, but not limited to, the likelihood that actual performance or results could materially differ, that future research will prove successful, the likelihood that any product in the research pipeline will receive regulatory approval in the United States or abroad, or Intellect's ability to fund such efforts with or without partners. Intellect undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly any forward-looking statements should be read in conjunction with the additional risks and uncertainties detailed in Intellect's filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in Intellect's Annual Report on Form 10-K, (file no. 333-128226) filed on October 13, 2010.
CONTACT: Intellect Neurosciences, Inc.
Elliot Maza, JD, CPA, President and Chief Financial Officer
212-448-9300
http://www.intellectns.com
45 West 36th St., 3rd Floor
New York, NY 10018, USA.
Source: Globe Newswire (October 27, 2010 - 6:30 AM EDT)
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T3 Series Three-wheeled Electric Stand-up Vehicle Featured in the Sunday Edition of The New York Times Metro Section
T3 Series Three-wheeled Electric Stand-up Vehicle Featured in the Sunday Edition of The New York Times Metro Section
The New York Times Metro Section Highlights Use of T3 Motion Clean Energy ESV By N.Y.P.D. in Four New York Subway Stations for Increased Visibility, Community Relations and Command Presence
Oct. 27, 2010 (PR Newswire) --
COSTA MESA, Calif. -- The New York Times Metro Section featured T3 Motion, Inc. in the Sunday, October 24, 2010 edition. The New York Times' City Critic section writer, Ms. Ariel Kaminer, took a ride on the iconic T3 Series electric vehicle used by the New York Police Department (N.Y.P.D.) to patrol four subway stations; Times Square, the Post Authority, Grand Central Station and Coney Island.
(Photo: http://photos.prnewswire.com/prnh/20101027/LA89527)
(Photo: http://www.newscom.com/cgi-bin/prnh/20101027/LA89527)
Ms. Kaminer's creative writing style complements and highlights the clean energy, user-friendly T3 Series as "a new tool for community policing which consumes far less energy than a car and far fewer oats than a horse." She also told an interesting tale of her adventure in learning how to operate and navigate the iconic T3 Series ESV near Times Square. "Within a few minutes, I had the thing under control and I was zipping around the block with a huge grin on my face, doing zero-turn radius doughnuts to impress passers-by," states Kaminer in the article.
“We are incredibly honored to work with N.Y.P.D. and their revolutionary commitment to clean energy and public safety. Being the world’s largest police force, N.Y.P.D. has a vast range of patrol requirements. The recent deployment of our T3 Series ESV in New York subways will enhance N.Y.P.D. patrols, increase their command presence, and build their public relationship to encourage interaction with the public. With a nine-inch elevated platform, an officer on a T3 Series ESV has a prominent line of sight. The iconic look of the T3 generates a command presence in crowds. Our relationship with the N.Y.P.D. is key to our pursuit of becoming the industry's global leader in the market for cost effective zero-gas emissions electric patrol vehicles,” said Ki Nam, CEO, T3 Motion, Inc.
To read The New York Times article; http://www.nytimes.com/2010/10/24/nyregion/24critic.html?_r=1&ref=nyregionspecial
T3 Motion Inc. has steadily gained market share over the last three years by providing value and unrivaled support to Law Enforcement partners throughout the world. "The T3 Series ESV makes tremendous sense for our law enforcement and security agencies, which are tasked with increasing their presence, while at the same time, reducing their costs. The ability to keep cities, subways, events, and locations, safer with the deployment of the iconic T3 Series while producing zero-gas emissions is a win-win scenario for our customers and the public at large," says Nam.
Launched in 2006, the T3 Series of Electric Stand-up Vehicle (ESV) captured the US clean energy market with a revolutionary and economical green solution. The T3 Series commands authority while reducing operating cost to 10 cents per (USD) day.
T3 Series Features:
The cutting-edge "green" technology provides an incomparable low cost of operation -- running for less than 10 cents per day and never requiring any down time due to the T3's two re-chargeable, lightweight batteries which can be easily swapped out while in-use. This 24/7 power flexibility provides for continual deployment to support an unlimited range.
High-performance vehicle with a zero-degree turning radius for improved maneuverability in crowds and tight spaces
Two rechargeable and interchangeable lightweight power modules for constant 24-hour use without down time
Capable of reaching speeds up to 20 M.P.H. for quick response without officer or personnel fatigue
An instinctive vehicle with easy-to-operate controls and responsive steering that allows officers and security personnel to focus on response to the situation
A 9-inch raised platform provides a superior vantage point while still allowing for interaction with the community
Robust cargo capacity of 450 pounds (rider plus equipment) includes the ability to tow personnel and equipment/cargo trailers
A highly effective patrol tool that enables increased patrol areas, and response times, while also focusing on cost reduction and clean energy
Optional GPS-enabled tracking system
Optional on-board Motiontrak 300(SM) video camera system (www.motiontrak.com)
About T3 Motion, Inc.
T3 Motion, Inc. (OTC Bulletin Board: TMMM) revolutionized the world of personal mobility with the introduction of their flagship electric T3 Series law enforcement vehicles at the International Association of Chiefs of Police conference held in October 2006. Headquartered in Orange County, California, T3 Motion, Inc. is dedicated to raising the bar on environmental standards and law enforcement and security capabilities in personal mobility technology.
In June of this year, T3 Motion unveiled the GT3 plug-in electric consumer vehicle. The proprietary rear-wheel design of the GT3 features a patent-pending, single, wide-stance wheel with two high-performance tires sharing one wheel. The revolutionary two-tire design improves traction, stability and handling, while the low rolling resistance and rounded profile of the rear tires increase energy efficiency. The GT3 will incorporate the Apple® iPad™ into the sleek dashboard design. Due to its three-wheeled design, the GT3 is classified as a motorcycle.
T3 Motion's Motiontrak 300(SM) is a "black box" in-car video and data recording system (www.motiontrak.com). Data monitored by Motiontrak 300(SM) include vehicle speed, location, and g-force shocks. Built-in GPS capability is integrated with Google Maps to track precise location and provide a vehicle movement overview. Sophisticated software enables the user to see video footage from the vehicle's perspective, overhead Google Earth location display, and numeric as well as graphical data on a single screen.
For more information on T3 Motion, Inc. and the company's signature T3 Series line of electric personal mobility vehicles, the electric CT Series Micro Car, and the upcoming GT3 consumer vehicle, visit www.t3motion.com, email sales@t3motion.com or call 714-619-3600.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding T3 Motion's business, which are not historical facts, are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
Apple, the Apple logo, iPad, are trademarks of Apple.
SOURCE T3 Motion, Inc.
PR, Maureen Geudtner, +1-714-619-3600, ext. 123, maureeng@t3motion.com, or IR, Kelly Anderson, +1-714-619-3600, ext. 127, kanderson@t3motion.com, both of T3 Motion, Inc.
Source: PR Newswire (October 27, 2010 - 6:30 AM EDT)
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UV Flu Technologies Signs LOI to Acquire Leading Manufacturer of Industrial Grade Air Purification Systems
UV Flu Technologies Signs LOI to Acquire Leading Manufacturer of Industrial Grade Air Purification Systems
Oct. 27, 2010 (Marketwire) --
CENTERVILLE, MA -- (Marketwire) -- 10/27/10 -- UV Flu Technologies, Inc. (OTCBB: UVFT) (the "Company") is pleased to announce that it has signed a Letter of Intent ("LOI") to acquire 100% of the ownership of a major US manufacturer of high quality air purification equipment designed for industrial applications and specializing in the medical and hospitality marketplace.
The agreement includes a patented, trademarked product line, with dozens of national distributors and representatives, an extensive customer list, inventory, and all associated manufacturing equipment. The company's sales include an installed base of several thousand units in over 1000 unique facilities nationwide.
The transaction will use commercially reasonable efforts to execute a definitive merger agreement by mid-November and the Definitive Agreement shall contain customary representation and warranties, covenants and indemnification provisions. By mutual agreement, the name of the selling company will be withheld until the close of the transaction.
"This is an excellent and timely acquisition for UV Flu," said Jack Lennon, President of UV Flu Technologies. "The company we are acquiring makes some of the finest, hi-end, air purification equipment available anywhere. Their highest volume product is patented, trade-marked, and is based on HEPA equipment which also combines UV germicidal technology designed to capture 99.97% of the particulates passing through the system. It complements and extends our existing technology and capabilities by dramatically increasing filtration protection throughout much larger spaces, particularly in areas where smoke and dust play a major role. Construction sites, casinos, smoking lounges and restaurants are significant users of the product line, including over 400 hospitals that rely on its particulate trapping abilities to clean the air of harmful pathogens. This high grade HEPA based technology is best suited to industrial/commercial environments which incorporate designated maintenance schedules and generally includes service contracts as opposed to residential or small commercial settings, where stand-alone HEPA users may neglect to change the filters in a timely manner thereby compromising the effectiveness of their systems."
"The acquisition will be operated as a subsidiary of UV Flu Technologies, and will provide a US manufacturing base to aid in the pursuit of government and DoD contract opportunities. We hope this added market segment will also lead to additional jobs and overall growth for the Company," said Mr. Lennon. "The enhanced product line will make us increasingly attractive to large US distributors, and increase our visibility within the hospital, hotel and casino marketplace. Upon the close of the transaction we will immediately introduce our distributors to the entire product line, both domestically, as well as internationally. We believe the synergies will be extraordinary and hope to dramatically increase our revenue estimates for 2011 as a result. Once our residential model is introduced to the lineup in 2011 we are highly optimistic for significant traction across the entire segment. We are excited by the prospects and look forward to offering a full line of products that really work; all with verified and laboratory proven test data for every application."
Further details regarding the Company's business, financial reports and agreements are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit: www.uvflutech.com.
About UV Flu Technologies, Inc. (OTCBB: UVFT)
UV Flu Technologies is an innovative developer, manufacturer and distributor of bio technology products initially targeting the rapidly growing Indoor Air Quality ("IAQ") industry sector (over $7.7 billion in 2008). The Company manufactures the ViraTech UV-400, which utilizes high-intensity ultraviolet radiation (UV-C) inside a killing chamber that goes beyond filtration to destroy harmful airborne bacteria, at rates exceeding 99.2% on a first-pass basis, while also reducing the concentrations of odors, and VOC's (volatile organic compounds, such as acetone, benzene, formaldehyde, etc.) The FDA has issued a coveted Class II medical listing that enables UV Flu Technologies to market the product as a medical device. For more information, visit: www.uvflutech.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, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. 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 new business opportunities. 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 new projects and development stage 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 any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any 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-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
UV Flu Technologies, Inc.
-----------------------------
John J. Lennon, President & CEO
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Investor Information:
Geaux IR Services, Inc.
Toll-Free: 1-888-355-8838
investors@uvflutech.com
Web: www.uvflutech.com
Source: Marketwire (October 27, 2010 - 6:30 AM EDT)
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SBT Bancorp, Inc. Reports Third Quarter 2010 Results
SBT Bancorp, Inc. Reports Third Quarter 2010 Results
Oct. 27, 2010 (Business Wire) -- SBT Bancorp, Inc., (OTCBB: SBTB), holding company for Simsbury Bank & Trust Company, today announced net income of $314,000 for the third quarter of 2010, compared to $160,000 for the third quarter of 2009, an increase of 96%. Net income available to common shareholders after preferred dividends was $249,000, or $0.29 per diluted share, for the third quarter of 2010, compared to $95,000, or $0.11 per diluted share, for the third quarter of 2009, an increase in diluted earnings per share of 164%.
Key items for the third quarter of 2010 compared to the third quarter of 2009 include:
Total revenues increased by 13%.
Core deposits increased by 14%.
Total loans outstanding increased by 7%.
Taxable equivalent net interest margin increased by 36 basis points, from 3.39% to 3.75%.
Total non-accrual loans and loans 30 or more days past due decreased from 2.27% of loans outstanding to 1.28% of loans outstanding.
Allowance for loan losses ended the quarter at 1.10% of total loans outstanding.
Capital ratios remained well above regulatory standards for a “well capitalized” bank.
“SBT Bancorp is pleased to report another quarter of increased earnings,” said SBT Bancorp President and CEO, Martin J. Geitz. “Our steady growth in loans, deposits, and revenues has now produced increased earnings in each of the past four quarters. Customer focus remains the foundation of our success. We will continue to build shareholder value by developing profitable banking relationships, diversifying our sources of revenue, and serving our customers’ full range of financial services needs.”
For the nine months ended September 30, 2010, net income amounted to $830,000, or $0.74 per diluted share. This compares to net income of $527,000, or $0.46 per diluted share, for the nine months ended September 30, 2009, an increase in diluted per share earnings of 61%. Total assets were $297 million on September 30, 2010 compared to $287 million on September 30, 2009, an increase of $10 million or 3%.
Total revenues, consisting of net interest and dividend income plus noninterest income, were $3,116,000 in the third quarter compared to $2,752,000 during the same period a year ago, an increase of 13%. Net interest and dividend income increased by $308,000, or 13%. This increase was driven by a 3% growth in the balance sheet and a 36 basis point increase in the Company’s taxable equivalent net interest margin. For the nine months ended September 30, 2010 total revenues were $8,954,000 compared to $7,608,000 for the nine months ended September 30, 2009, an increase of 18%.
The Company’s taxable-equivalent net interest margin (taxable-equivalent net interest and dividend income divided by average earning assets) was 3.75% for the third quarter of 2010, compared to 3.39% for the third quarter of 2009. The primary cause of this increase was a much lower cost of funds. Core deposits grew rapidly during this period, replacing higher-cost time deposits.
Total non-interest expenses for the third quarter were $2,515,000, an increase of $148,000 or 6% over the third quarter of 2009. Salaries and employee benefit expenses and professional fees increased during the third quarter of 2010 compared to the third quarter of 2009. Advertising and promotion expenses as well as data processing fees declined in the third quarter of 2010 compared to the third quarter of 2009. For the nine months ended September 30, 2010 total non-interest expenses were $7,268,000 compared to $6,581,000 for the nine months ended September 30, 2009, an increase of 10%.
On September 30, 2010, loans outstanding were $209 million, an increase of $14 million, or 7%, over a year ago. With a loan loss provision of $180,000 during the quarter, the Company’s allowance for loan losses at September 30, 2010 was 1.10% of total loans. The profile of the Company’s loan portfolio remains relatively low-risk. The Company had non-accrual loans totaling $2.5 million equal to 1.19% of total loans on September 30, 2010 compared to non-accrual loans of 1.27% of total loans a year ago. Loans 30 days or more delinquent, excluding non-accrual loans, totaled $184,000, or 0.09% of total loans on September 30, 2010 compared to 1.00% a year ago. Total non-accrual loans and loans 30 or more days past due decreased from 2.27% of loans outstanding on September 30, 2009 to 1.28% of loans outstanding on September 30, 2010.
Total deposits on September 30, 2010 were $270 million, an increase of $7 million or 3% over a year ago. Core deposits (Demand, Savings and NOW accounts) increased by $23 million or 14% while Time Deposits decreased by $17 million. At quarter-end, 18% of total deposits were in non-interest bearing demand accounts, 54% were in low-cost savings and NOW accounts, and 28% were in time deposits.
Capital levels for the Simsbury Bank & Trust Company remain well in excess of those required to meet the regulatory “well-capitalized” designation.
Capital Ratios 9/30/10
Simsbury Bank & Trust Company Regulatory Standard For Well-Capitalized
Tier 1 Leverage Capital Ratio 7.07% 5.00%
Tier 1 Risk-Based Capital Ratio 11.61% 6.00%
Total Risk-Based Capital Ratio 12.86% 10.00%
SBT Bancorp Inc.’s wholly owned subsidiary, Simsbury Bank & Trust Company, is an independent, locally-controlled, customer-friendly commercial bank for businesses and consumers. The Bank has approximately $297 million in assets. The Bank serves customers through full-service offices in Avon, Bloomfield, Granby and Simsbury, Connecticut; a loan production office and ATM in Canton, Connecticut; SBT Online internet banking at simsburybank.com; free ATM transactions at hundreds of machines throughout the northeastern U.S. via the SUM program; and 24 hour telephone banking. The Bank’s wholly-owned subsidiary, SBT Investment Services, Inc., offers securities and insurance products through LPL Financial and its affiliates, Member FINRA/SIPC. SBT Bancorp, Inc. is traded over-the-counter under the ticker symbol of OTCBB: SBTB. For more information, visit www.simsburybank.com.
Certain statements in this press release, including statements regarding the intent, belief or current expectations of SBT Bancorp, Inc., Simsbury Bank & Trust Company, or their directors or officers, are “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
SBT Bancorp, Inc
Condensed Consolidated Balance Sheets
(Dollars in thousands, except for per share amounts)
9/30/2010 12/31/2009 9/30/2009
(unaudited) (unaudited)
ASSETS
Cash and due from banks $ 7,276 $ 8,212 $ 10,272
Interest-bearing deposits with Federal Reserve Bank of Boston 14,817 4,945 2,864
Interest-bearing deposits with the Federal Home Loan Bank 7 163 89
Federal funds sold 1,509 2,416 7,349
Money market mutual funds 8,842 1,353 3,329
Cash and cash equivalents 32,451 17,089 23,903
Interest-bearing time deposits with other bank 5,629 5,488 5,443
Investments in available-for-sale securities (at fair value) 42,896 50,011 54,656
Federal Home Loan Bank stock, at cost 660 631 631
Loans outstanding 209,069 193,515 195,349
Less allowance for loan losses 2,309 2,211 2,138
Loans, net 206,760 191,304 193,211
Premises and equipment 580 684 705
Accrued interest receivable 925 977 1,032
Bank owned life insurance 3,971 3,846 3,803
Due from Broker - - 1,195
Other assets 3,157 3,709 2,230
Total other assets 8,633 9,216 8,965
TOTAL ASSETS $ 297,029 $ 273,739 $ 286,809
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Demand deposits $ 49,136 $ 43,887 $ 40,011
Savings and NOW deposits 145,300 124,482 131,049
Time deposits 75,883 82,077 92,454
Total deposits 270,319 250,446 263,514
Securities sold under agreements to repurchase 3,435 913 741
Other liabilities 930 968 1,025
Total liabilities 274,684 252,327 265,280
Stockholders' equity:
Preferred Stock - Series A 3,839 3,805 3,793
Preferred Stock - Series B 221 225 227
Common Stock, no par value; authorized 2,000,000 shares;
issued and outstanding 864,976 shares on 9/30/10, 9,381 9,372 9,365
12/31/09, and 9/30/09
Retained earnings 8,107 7,782 7,759
Accumulated other comprehensive income 797 228 385
Total stockholders' equity 22,345 21,412 21,529
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 297,029 $ 273,739 $ 286,809
SBT Bancorp, Inc
Condensed Consolidated Statements of Income
(Unaudited)
(Dollars in thousands, except for per share amounts)
For the quarter ended For the nine months ended
9/30/2010 9/30/2009 9/30/2010 9/30/2009
Interest and dividend income:
Interest and fees on loans $ 2,619 $ 2,447 $ 7,679 $ 7,254
Investment securities 438 528 1,379 1,428
Federal funds sold and overnight deposits 11 12 21 21
Total interest and dividend income 3,068 2,987 9,079 8,703
Interest expense:
Deposits 446 680 1,346 2,224
Repurchase agreements 10 3 31 7
Federal Home Loan Bank advances - - - 7
Total interest expense 456 683 1,377 2,238
Net interest and dividend income 2,612 2,304 7,702 6,465
Provision for loan losses 180 192 605 322
Net interest and dividend income after
provision for loan losses 2,432 2,112 7,097 6,143
Noninterest income:
Service charges on deposit accounts 116 159 386 395
Gain on sales of available-for-sale securities - 40 - 40
Other service charges and fees 166 145 484 413
Increase in cash surrender value
of life insurance policies 42 44 125 99
Gain on loans sold 93 17 101 60
Investment services fees and commissions 35 27 81 74
Other income 52 16 75 62
Total noninterest income 504 448 1,252 1,143
Noninterest expense:
Salaries and employee benefits 1,232 964 3,507 3,033
Premises and equipment 359 373 1,068 1,109
Advertising and promotions 97 128 289 307
Forms and supplies 36 50 99 138
Professional fees 178 125 541 395
Directors fees 33 33 114 99
Correspondent charges 78 67 216 206
Postage 26 28 71 77
FDIC assessment 100 160 297 315
Data processing 126 178 353 250
Other expenses 250 261 713 652
Total noninterest expense 2,515 2,367 7,268 6,581
Income before income taxes 421 193 1,081 705
Income tax provision 107 33 251 178
Net income $ 314 $ 160 $ 830 $ 527
Net income available to common shareholders $ 249 $ 95 $ 636 $ 395
Average shares outstanding, basic 864,976 864,976 864,976 864,976
Earnings per common share, basic $ 0.29 $ 0.11 $ 0.74 $ 0.46
Average shares outstanding, assuming dilution 865,363 864,976 865,311 864,976
Earnings per common share, assuming dilution $ 0.29 $ 0.11 $ 0.74 $ 0.46
The Simsbury Bank & Trust Company
Anthony F. Bisceglio, 860-408-5493
860-408-4679 (fax)
EVP & CFO
abisceglio@simsburybank.com
Source: Business Wire (October 27, 2010 - 6:10 AM EDT)
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Zim Corporation Announces Technology Acquisition Purchase
Zim Corporation Announces Technology Acquisition Purchase
Oct. 27, 2010 (Canada NewsWire Group) --
Zim Corporation purchases all technology assets of Torch Technologies - enhances its database migration product and services offering.
OTTAWA, Oct. 27 /CNW/ - Zim Corporation (OTCBB: ZIMCF), a provider of software products and services for the database and mobile markets, today announced its acquisition of the technology assets of Torch Technologies. Torch products are well known within Zim's customer community for their Database Migration tools and have a product portfolio that allows enterprise clients to rapidly and cost effectively migrate and manage multiple database platforms.
Torch's advanced portfolio of database migration and management products will strengthen and complement Zim's enterprise database products. The combined product portfolio will result in a robust solution to rapidly and cost effectively migrate existing databases to other industry databases including Oracle™ and SQL™ while retaining valuable Zim applications and providing a simplified database management suite. The new product portfolio will strengthen Zim's solution offering for existing and new clients. Deal terms of the acquisition were not disclosed.
"This acquisition is a strategic step in our overall enterprise database product portfolio plans" said Dr. Michael Cowpland, President and CEO of Zim Corporation, "We've been successfully working in partnership with Torch Technologies for over a year. Their unique technology offerings combined with Zim's enterprise database products and our recently announced Gold Level partnership with Oracle are a natural fit and will provide a powerful solution to meet the growing needs of our enterprise clients. In addition, we'll invest further R&D resources into Torch to expand the product suite and increase its capabilities."
ABOUT Zim Corporation
ZIM is a provider of software products and services for the database and mobile markets. ZIM products and services are used by enterprises in the design, development and management of business, database and mobile applications. Certain of ZIM's mobile products are also provided to the consumer market. For more information on ZIM and its customers, partners and products, visit: www.zim.biz.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, with respect to ZIM's use of its cash from operations. All forward-looking statements made in this press release relating to expectations about future events or results are made as of, and are based upon information available to ZIM as of, the date hereof. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those described or implied by any forward-looking statements. New risks can arise and it is not possible for management to predict all such risks, nor can it assess the impact of all such risks on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements speak only as of the date of this news release. We undertake no obligation to revise or update publicly any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this news release, other than as required by law. Please refer to ZIM's filings with the SEC for additional information regarding risks and uncertainties. Copies of these filings are available through the SEC's website at www.sec.gov.
investorrelations@zim.biz
ZIM Corporation
Source: Canada Newswire (October 27, 2010 - 6:00 AM EDT)
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Major League Gaming Selects ViewCast's Osprey 700e Video Capture Cards for High Performance HD Streaming of Live Gaming Events
Major League Gaming Selects ViewCast's Osprey 700e Video Capture Cards for High Performance HD Streaming of Live Gaming Events
MLG fans consume over 2.3 million streams and 825,000 hours of video over a 60 hour long broadcast, powered by ViewCast's ultra-reliable Osprey 700e HD cards
Oct. 27, 2010 (PR Newswire) --
PLANO, Texas -- ViewCast Corporation (OTC Bulletin Board: VCST), a developer of industry-leading solutions for the transformation, management and delivery of digital media over enterprise, broadband, and mobile networks, today announced that Major League Gaming (MLG), the largest professional video game league in the world, has selected ViewCast's Osprey® 700e HD video capture cards to underpin its live streaming infrastructure. Delivering over 1.9 million streams of its live events in HD to viewers around the globe for up to 60 hours at a time, MLG counts on Osprey 700e's unmatched performance and reliability to ensure a highly immersive viewing experience for legions of passionate gamers and gaming fans.
"Live event streaming is a critical component of our operations, enabling MLG to cultivate and cater to an ever-growing online community of professional and aspiring professional gamers while expanding sponsorship and revenue opportunities," said Lee Chen, SVP Premium Services and Live Event Streaming, Major League Gaming. "ViewCast's Osprey 700e HD video capture cards equip us with a high performance, ultra reliable video capture platform to facilitate the delivery of high quality HD programming to our viewers."
In addition to meeting MLG's stringent performance and reliability requirements, ViewCast's Osprey 700e HD cards ensure seamless compatibility with MLG's encoding software, Adobe® Flash® Media Live Encoder and Microsoft® Windows® 7 drivers, in a low-profile design format for easy integration within MLG's proprietary streaming hardware. Providing a seamless PCI Express® interconnect for high-speed throughput, Osprey 700e cards help to optimize overall system performance and enhance networking flexibility.
MLG utilizes multiple Osprey 700e HD cards to power its encoding infrastructure, encoding real-time video for live streaming while simultaneously capturing content for post-event video-on-demand (VOD). MLG provides three concurrent live broadcast streams in multiple resolutions from its events, which take place throughout the year at various locations nationwide. Osprey 700e's ability to maintain consistent performance and stability throughout HD broadcasts that can run up to 62 hours is critical to the success of MLG's event coverage, precluding the need to reboot or cycle through encoders. For MLG's 50th anniversary event in Raleigh, NC, fans consumed over 2.3 million streams and 825,000 hours of video over the 60 hour long broadcast, all powered by ViewCast's ultra-reliable Osprey 700e HD cards.
Renowned for their performance, reliability and management versatility, ViewCast's award-winning Osprey 700e HD cards provide advanced capabilities such as dual SD/HD support with seamless on-the-fly signal switching, and the ability to feed multiple encoders (RealVideo®, Windows Media®, Adobe® Flash® and MPEG-4) at the same time in any combination. Osprey cards enable advanced features such as hardware audio gain control, closed-caption extraction, image cropping and bitmap overlay to ensure maximum management flexibility and control.
"Major League Gaming's ability to seamlessly meld online gaming with live event streaming distinguishes the company as a true pioneer in the digital media marketplace," said ViewCast President and CEO Dave Stoner. "For organizations seeking to push the boundaries of live competitive event coverage – real or virtual – ViewCast provides the high performance HD capture and streaming solutions they need to ensure a world-class online viewing experience."
About Major League Gaming
Founded in 2002, Major League Gaming (MLG) is the dominant media property exclusively targeting the approximately 40 million consumers in North America who have a passion for playing video games as a competitive social activity. The company exclusively represents the best professional gamers and gives millions of aspiring gamers around the world an opportunity to compete, improve their skills, and socialize through our thriving online competitive community and live Pro Circuit competitions. For more information: www.mlgpro.com.
About ViewCast
ViewCast develops industry-leading hardware and software for the transformation, management and delivery of professional quality video over broadband, enterprise and mobile networks. ViewCast's award-winning solutions simplify the complex workflows required for the Web-based streaming of news, sports, music, and other video content to computers and mobile devices, empowering broadcasters, businesses, and governments to easily and effectively reach and expand their audiences. With more than 350,000 video capture cards deployed globally, ViewCast sets the standard in the streaming media industry. ViewCast Niagara® streaming appliances, Osprey® video capture cards and VMp™ video management systems provide the highly reliable technology required to deliver the multi-platform experiences driving today's digital media market.
ViewCast (www.viewcast.com) is headquartered in Plano, Texas, USA, with sales and distribution channels located globally.
ViewCast, Osprey, VMp and Niagara are trademarks or registered trademarks of ViewCast Corporation or its subsidiaries.
ViewCast Contact:
Jeff Kopang
Vice President of Marketing
Tel: +1 (972) 488-7200
E-mail: jeffk@viewcast.com
PR Agency Contact:
Jessie Glockner
Rainier Communications
Tel: +1 (508) 475-0025 x140
E-mail: jglockner@rainierco.com
Investor Contact:
Matt Clawson
Allen & Caron
Tel: +1 (949) 474-4300
E-mail: matt@allencaron.com
SOURCE ViewCast Corporation
Jeff Kopang, Vice President of Marketing of ViewCast, +1-972-488-7200, jeffk@viewcast.com; or Jessie Glockner of Rainier Communications, +1-508-475-0025, ext. 140, jglockner@rainierco.com; or Investors, Matt Clawson of Allen & Caron, +1-949-474-4300, matt@allencaron.com, both for ViewCast Corporation
Source: PR Newswire (October 27, 2010 - 6:00 AM EDT)
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Diesel T in Development With New Board Members Joining Golden Spirit
Diesel T in Development With New Board Members Joining Golden Spirit
Oct. 27, 2010 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 10/27/10 -- Golden Spirit Enterprises Ltd. (OTCBB: GSPT) reports that a diesel fuel version of Terralene is currently in the prototype development stage known as Diesel T. Third party validations for Diesel T will be the next step upon finalization of Diesel T's research and development.
According to the October 15, 2010 Hart Energy Consulting Report, "Diesel fuel is the workhorse of economies throughout the world. As global economies have expanded, so has the demand for diesel-fueled commercial transportation and industrial activities."
Dr. John Wong and Dr. Reese Halter who have joined the Advisory Board will be working with the Company towards introducing its alternative fuel formulation ("Terralene") to interested relevant parties throughout the world, including refineries and oil companies, as well as the development and marketing of Diesel T.
Dr. Wong has a Ph.D. Mechanical Engineering (Combustion) from the University of Ottawa and was a senior scientist at the Canadian National Research Council. He served as a member of the Association of Professional Engineers of Ontario, The Combustion Institute (International), American Society of Automotive Engineers and the Canadian Aeronautics and Space Institute. Dr. Wong is currently involved in Energy Consumption Reduction and Green House Gas (GHG) Emission Reduction in Chinese industries.
Dr. Halter has a PH.D. Biology from the University of Melbourne. In 1988, he founded the research institute Global Forest Science and as one of the board members oversees about 175 scientists working in 7 countries on conservation projects. Dr. Halter is also a syndicated science writer for numerous publications and is a regular contributor to MSNBC covering numerous environmental and conservation issues including the Gulf disaster, fires, climate change and other science related matters.
/s/ Jaclyn Cruz
Jaclyn Cruz, President
For further information contact: 1-888-488-6882 or e-mail us at info@goldenspirit.ws
Visit our website at www.goldenspirit.ws
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Golden Spirit's filings with the Securities & Exchange Commission.
For further information contact:
Golden Spirit Enterprises Ltd.
1-888-488-6882
Email Contact
www.goldenspirit.ws
Source: Marketwire (October 27, 2010 - 6:00 AM EDT)
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Clean Power Technologies Awarded UK Government Grant for Business Investment
Clean Power Technologies Awarded UK Government Grant for Business Investment
Oct. 27, 2010 (Business Wire) -- Clean Power Technologies Inc. (OTCBB:CPWE) (FWB:C1L) ("Clean Power" or the "Company"), a developer of unique systems to reduce emissions and fuel usage by harnessing wasted exhaust energy, is pleased to announce that it has been awarded a funding grant from the UK Government in the form of a Grant for Business Investment (GBI) provided through the South East England Development Agency (SEEDA).
CPT has an investment plan of close to 1 million GBP for development of its Newhaven facility to enable manufacture and commercialisation of its innovative waste heat recovery technologies during 2010 and 2011. The grant is for 20% of phase 1 of the investment plan for specialist machinery and tooling, totalling 200,000 GBP by Q1 2011.
The new equipment is required for manufacture of the first commercial heat recovery units designed to operate on landfill gas powered methane engines, providing electrical power to the national grid. The unique CPT heat recovery units will enable about a further 10% electrical power to be produced purely from the waste exhaust heat energy of each engine. CPT is currently operating a prototype unit at a UK landfill site, and has a number of further planned installations at other sites in the UK.
SEEDA assessed many aspects of CPT before awarding the grant, including the strength of CPT’s innovation, commercialisation and exports potential, and employment and business development potential for the Newhaven and South East area.
Mike Burns, CPT Chief Technical Officer, said: “We are aware of how selective the UK government is with its grants and are very appreciative of their recognition and contribution towards the work that we are doing in Newhaven. What we have developed at CPT is not only a product, but a technology with huge potential to improve the efficiencies of engines and power generating systems in many applications now and in the future. I am delighted that SEEDA has recognised the benefits that the growth of CPT will bring to Newhaven, the South East region and the UK in general.”
SEEDA Executive Director of Business Development Susan Priest said, “SEEDA is delighted that it is able to support Clean Power Technologies’ investment in machinery that will support its business in an exciting period of growth. The Grant for Business Investment will help the company to create much needed high value added jobs in Newhaven, as well as reducing the South East’s carbon footprint through the application of the waste heat recovery technology.”
About Clean Power Technologies
Clean Power Technologies is a specialist design engineering firm which has developed a range of systems to capture waste heat and convert it to electricity. The Company's proprietary technology significantly increases power generation efficiency through its Clean Energy Separation And Recovery (CESAR) system. CESAR can be installed on any heat source of sufficient temperature and generates a continuous source of clean electricity from wasted heat energy. The system provides significant commercial benefits while simultaneously reducing green house gas emissions and heat pollution. CESAR has a variety of power generation applications such as landfill gas, natural gas, biomass, bio-gas and diesel gen-sets.
For more information, please visit: www.cleanpowertechnologies.com.
About SEEDA
SEEDA, the South East England Development Agency, is the government-funded agency responsible for the sustainable economic development of the South East of England – the driving force of the UK’s economy. Through supporting businesses, encouraging innovation, developing skills, and engaging with public and private partners, we aim to create a successful, sustainable future for the region.
For more information, please visit: www.seeda.co.uk.
Press Contact:
Expansion Media
David Andrew Goldman,
Phone (U.K.): 44-203-514-0457
Phone (U.S.): 646-335-0268 begin_of_the_skype_highlighting 646-335-0268 end_of_the_skype_highlighting
davidgoldman@expansionmedia.net
Source: Business Wire (October 27, 2010 - 5:00 AM EDT)
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Black Hawk Initiates Hard-Hitting Investor Communications Program
Black Hawk Initiates Hard-Hitting Investor Communications Program
Oct. 27, 2010 (PR Newswire) --
FOX ISLAND, Wash. -- Black Hawk Exploration (OTC Bulletin Board: BHWX), a diversified metals and energy exploration company, 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 Black Hawk Exploration, and we are extremely pleased to have retained Equiti-trend to assist in a comprehensive investor communications program," said Kevin M Murphy CEO of BHWX. "We have a great message and 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 Black Hawk Exploration and its current exploration and future development, 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."
For more information about Equiti-trend Advisors, please visit their corporate website: www.equititrend.com. All investors and current shareholders interested in receiving information on Black Hawk Exploration are encouraged to call Equiti-trend toll-free (800) 953-3350 begin_of_the_skype_highlighting (800) 953-3350 end_of_the_skype_highlighting to speak with an Investor Communication Representative.
About Black Hawk Exploration, Inc.:
Black Hawk is a diversified metals and energy exploration company with its current focus on gold and lithium exploration through its wholly owned subsidiaries Golden Black Hawk and Blue Lithium. Gold exploration and discovery is currently underway at the Company's Nevada Dun Glen holdings. Black Hawk is committed to an aggressive program of value added property acquisition, project generation, asset diversity and building shareholder value. Visit us at www.BlackHawkExploration.com.
"Safe Harbor" Statement:
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Notice Regarding Forward Looking Statements - This press release includes forward-looking statements that involve a number of risks and uncertainties, including the success of the programs it is commercializing and developing. Further, the risks involve the ability of the Company to raise capital to fund its operations and the capital requirements for the development and marketing of its products. Investors are encouraged to review the risk factors listed or described from time to time in the Company's filings (10K, 10Q's, S-1 and others) with the Securities and Exchange Commission.
SOURCE Black Hawk Exploration
Kevin M. Murphy of Black Hawk Exploration, +1-253-973-7135 begin_of_the_skype_highlighting +1-253-973-7135 end_of_the_skype_highlighting, ceo@blackhawkexploration.com
Source: PR Newswire (October 27, 2010 - 1:00 AM EDT)
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Archer Petroleum Appoints New CFO and Grants Stock Options
Archer Petroleum Appoints New CFO and Grants Stock Options
Oct. 27, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/27/10 -- Archer Petroleum Corp. (TSX VENTURE: ARK)(OTCQX: APEUF)(DBFrankfurt: A6VA) (the "Company") wishes to announce that the Company has granted stock options pursuant to its Stock Option Plan to purchase up to 354,000 shares of the Company at $0.20 per share for a period of five years.
The Company would also like to announce that Mr. Robert McMorran, CA, has been appointed as the Chief Financial Officer of the Company in place of Darren Tindale, who has resigned. Management would like to thank Mr. Tindale for his contributions to the Company.
About Archer Petroleum:
Archer Petroleum Corp. is an independent oil and gas company focused on exploration and development in North America. Archer's assets include properties in the Western Canadian Sedimentary Basin of Alberta, the Permian Basin of West Texas, and the Bakken Shale of North Dakota. The Company's shares are listed on the TSX Venture Exchange under the symbol "ARK" and the OTCQX under the symbol "APEUF" and the DB Frankfurt exchange under "A6VA". Further information on Archer can be found on the company's website at www.archerpetroleum.com.
ON BEHALF OF ARCHER PETROLEUM CORP.
Colin Bowkett, President
Although Archer believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Archer can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), and commodity price, interest rate and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Archer undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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 the release.
Contacts:
Archer Petroleum Corp.
Colin Bowkett
President
(604) 683-7588
(604) 683-7589 (FAX)
info@archerpetroleum.com
www.archerpetroleum.com
Tribeca Capital Partners Inc.
Ali Sinawi
1-866-944-8674
ali@tribecacap.com
www.tribecacap.com
Source: Marketwire (October 27, 2010 - 4:06 PM EDT)
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Healthzone Limited to Present at Global Alliance Partners (GAP) Investment Conference
Healthzone Limited to Present at Global Alliance Partners (GAP) Investment Conference
Oct. 27, 2010 (Marketwire) --
SYDNEY, AUSTRALIA -- (Marketwire) -- 10/27/10 -- Healthzone Limited (ASX: HZL) (OTCQX: HLTZY) (PINKSHEETS: HLTZY) today announced that Healthzone's CEO Peter Roach will present at the Global Alliance Partners Conference in Hong Kong on October 29th. The conference is taking place at The Club Lusitano in Hong Kong and will bring together investors, bankers and analysts from around the world. As part of the program, members of Global Alliance Partners will showcase companies that they have assisted to achieve their objectives including raising capital, providing analyst coverage, increasing liquidity and attracting new investors on a worldwide basis. Healthzone has successfully worked with Global Alliance Partners in all these areas and will be featured as an example of how companies can benefit from GAP's combined offerings.
Investors interested in scheduling a meeting with Peter Roach, CEO can facilitate a request by contacting the Company at leslie.wolf-creutzfeldt@grayling.com.
About Healthzone:
Healthzone Limited operates a portfolio of distribution, consumer product and retail businesses in the Wellness sector. Each business provides immediate opportunities for earnings growth through business development and integration. Further information: www.healthzone.com.au.
About Global Alliance Partners:
Global Alliance Partners (GAP) serves as an international window for both inward and outward deal flows, and offers clients more research and placement capability across different markets. GAP's member firms have been involved in more than 350 transactions valued at over US$10 billion within the last 20 years and manage US$4 billion in individual and institutional client funds. Since its inception in October 2008, the alliance has completed over 10 transactions worth more than US$350 million.
Healthzone Limited
Peter Roach
Executive Chairman
Tel: +612 9772 7100
Grayling USA
Investor Relations
Leslie Wolf-Creutzfeldt
Tel: +1 646 284 9472
Source: Marketwire (October 27, 2010 - 1:44 PM EDT)
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Advanced Content Services, Inc's Servenation Submits Program Outline to Major Issuing Bank
Advanced Content Services, Inc's Servenation Submits Program Outline to Major Issuing Bank
MTP Ventures Reaches Final Stages for Prepaid Program Acceptance
Oct. 27, 2010 (GlobeNewswire) --
FORT WAYNE, Ind., Oct. 27, 2010 (GLOBE NEWSWIRE) -- Advanced Content Services, Inc's (Pink Sheets:ADCS) MTP Ventures announces that ServeNation, inc. (www.servenation.com), its charitable prepaid reloadable debit concept, has submitted its program outline and due diligence materials to a nationally chartered financial institution with assets exceeding $300 million.
The bank is home to a division with a mission to provide premier electronic banking services throughout the United States for a variety of product line services. This bank has taken the lead in a number of electronic products and continues to lead the industry in electronic banking. They offer Merchant Acquiring Services, Prepaid Card Sponsorship, ATM Sponsorship, and Automated Clearing House (ACH) Services.
Materials were submitted by request of the institution after favorable review of MTP Ventures and its prepaid program for ServeNation, Inc. ADCS CEO, Mark B. Newbauer comments, "After attending PrePaid Expo 2010 in February, we've been in discussion with a few issuers and this one in particular, which remains unnamed for the time being , was hands down our favorite; Excellent executive staff and those willing to nurture our program to success with incredible relations with the other key components in the program- Processors and Networks. We've built an excellent rapport and are confident this will result in optimal results in favor of collective benefit."
He continues, "It's this cornerstone component that I feel will help position us for ultimate success in launching ServeNation, which has received a number of compliments from top industry players. It's like no other and we're thrilled to be at this stage in the game toward a nationwide launch targeting non-profits and corporations with various applications servicing the same end result-- passive giving, in which nearly every transaction with the card automatically generates funds for a worthwhile cause."
MTP Ventures expects to release the bank's decision in the coming days along with other updates in regards to progress on ServeNation and CopSwap.
ADCS MTP Ventures acquires, creates, co-ventures and/or incubates powerful, unique business models and Intellectual Property. The firm was initially formed to develop new ideas and IP, as well as to acquire distressed companies in need of a 'business makeover', and transform them into thriving entities with sustainable revenue and progressive growth.
FOLLOW US ON TWITTER: www.twitter.com/mtpventures
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
PR prepared by NMR
CONTACT: MTP Ventures
MTP Worldwide
310-230-5642
276-352-4569
info@mtpventures.com
IR@InvestmentNation.com
Source: Globe Newswire (October 27, 2010 - 12:27 PM EDT)
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Results of the Annual and Special Meeting of Shareholders of i-minerals inc.
Results of the Annual and Special Meeting of Shareholders of i-minerals inc.
VANCOUVER, BRITISH COLUMBIA, Oct. 27, 2010 (Marketwire) -- i-minerals inc. (TSX VENTURE:IMA)(PINK SHEETS:IMAHF) ("the Company") announces that at the Annual and Special Meeting of Shareholders held Thursday October 21, 2010 all matters put to shareholders were approved with the exception of the approval of the amendment of the articles of the Company to allow for the issuance of an unlimited number of shares. While this matter received the approval of the majority of share voted it fell just short of the required 2/3 majority.
Allen Ball, Gary Childress, Thomas Conway, and Barry Girling and Roger Kauffman were all elected directors of the Company. Mr. Conway was appointed to the board on September 21, 2010 while Mr. Childress was elected as the fifth board member. Mr. Childress has an extensive background in the senior management of industrial minerals companies having served as a Vice President of Hecla Mining as well as running some of its predecessor companies including KT Clay. Mr. Childress, together with Thomas Conway significantly strengthen the technical expertise of the board and are expected to contribute to the timely development of the Helmer - Bovill quartz-feldspar deposit and kaolin-halloysite-quartz-feldspar primary clay deposit.
BDO Canada LLC were re-appointed the Company's auditors and shareholders also approved the Company's stock option plan.
i-minerals inc.
Roger Kauffman, President & CEO
This News Release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.
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 news release.
i-minerals inc. 877-303-6573 or 604-303-6573 604-684-0642 (FAX) info@imineralsinc.com www.imineralsinc.com Encompass Communications Inc. info@encompassinc.ca
Source: Marketwire Canada (October 27, 2010 - 12:07 PM EDT)
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