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Tikcro Technologies Announces 2010 Annual General Meeting
Tikcro Technologies Announces 2010 Annual General Meeting
Oct. 25, 2010 (Business Wire) -- Tikcro Technologies Ltd. (OTCBB: TIKRF) today announced that its Annual General Meeting of Shareholders will be held on November 30, 2010 at 3:00 p.m. Israel time, at the Company's offices, 126 Yigal Allon Street, Tel Aviv, Israel.
The agenda of the meeting is as follows:
(1) reelection of Eric Paneth and Izhak Tamir to the Board of Directors;
(2) reappointment of Kost Forer, Gabbay and Kasierer, a member of Ernst & Young, as independent auditors; and
(3) consideration of audited financial statements for the year ended December 31, 2009.
Items 1 and 2 require the approval of a simple majority of the shares voted on the matter. Item 3 will not involve a vote of the shareholders. The record date for the meeting is October 26, 2010. Tikcro will send its shareholders of record a proxy statement describing the various matters to be voted upon at the meeting, along with a proxy card enabling them to indicate their vote on each matter.
About Tikcro Technologies:
About Tikcro Technologies:
Tikcro has holdings in BioCancell Therapeutics, Inc., a clinical-stage biopharmaceutical company operating in the area of cancer treatment. Biocancell's leading drug, BC-819, is a double stranded DNA plasmid construct that incorporates the gene for diphtheria toxin (DTA) under the regulation of the promoter sequence for H19 gene. Pursuant to U.S. FDA approved protocols, BioCancell is conducting the following clinical trials in Israel and in the U.S. using BC-819:
-Phase IIb clinical trial for the treatment of superficial bladder carcinoma cancer;
-Phase I/IIa clinical trial for the treatment of pancreatic cancer; and
-Phase I/IIa clinical trial for the treatment of ovarian cancer.
For more information, visit Tikcro website at www.tikcro.com.
Investor Relations
KCSA Strategic Communications
Jeff Corbin / Marybeth Csaby, 212-896-1214 / 1236
jcorbin@kcsa.com / mcsaby@kcsa.com
Source: Business Wire (October 25, 2010 - 8:00 AM EDT)
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St. Bernard Appoints David Smith Senior Vice President of Worldwide Commercial Sales
St. Bernard Appoints David Smith Senior Vice President of Worldwide Commercial Sales
Smith Brings Over 20 Years of Executive Sales Management Experience With a Proven Track Record of Driving Hyper-Growth
Oct. 25, 2010 (Marketwire) --
SAN DIEGO, CA -- (Marketwire) -- 10/25/10 -- St. Bernard Software, Inc. (OTCBB: SBSW), a leader in Secure Content Management (SCM) solutions, today announced the appointment of David Smith to Senior Vice President of Worldwide Commercial Sales effective October 18, 2010. In this role, Mr. Smith will be responsible for developing and executing a commercial sales strategy that will help drive sales results for the next phase of Company growth. Mr. Smith will also spearhead St. Bernard into larger enterprise clients and new overseas markets. The appointment follows the departure of Steve Yin, Executive Vice President of Global Sales and Marketing.
In announcing the change, Lou Ryan, Chairman of the Board and CEO of St. Bernard commented, "David's track record in taking smaller public companies into high-growth mode makes him a great complement to our recently enhanced executive team. Not only does he bring the right combination of sales expertise and technology innovation to help us further penetrate commercial markets on a more global scale, but his solutions-driven sales approach will be critical as we continue to expand our product portfolio for on-demand, on-premises, and hybrid Secure Content Management solutions. We also thank Steve for his contributions to St. Bernard during his tenure."
Mr. Smith brings over 20 years of executive experience within the software and security industry. Most recently, Mr. Smith was Vice President of Sales and General Manager at FrontRange Solutions, where he was responsible for leading all customer facing aspects of the business including sales, channel sales, professional services, customer support, and field marketing. In this role he grew FrontRange Solutions from a 60 million dollar run rate to $130M. Prior to FrontRange Solutions, Mr. Smith successfully ran a $1B operation at 3Com Corporation, reporting to the CEO. Mr. Smith has also held prominent roles at leading security companies including Oracle Corporation.
In discussing his appointment, Mr. Smith stated, "St. Bernard is already a well recognized player in the marketplace. As the company begins to execute on its new platform strategy, the company is even better positioned to change the landscape of the security industry. I look forward to working with the enhanced management team to execute on a variety of exciting new initiatives that I hope will positively impact customers and shareholders."
About St. Bernard Software
St. Bernard Software develops and markets on demand, on-premises, and hybrid Secure Content Management (SCM) solutions to the mid-enterprise and small to medium business (SMB) markets. The company recently expanded its product portfolio with the acquisition of Red Condor, a leading provider of messaging security solutions. With an extensive ISP and MSP partner network and millions of end users worldwide in more than 8,000 enterprises, educational institutions, SMB, and government agencies, St. Bernard strives to deliver simple, high performance solutions that offer excellent value to our customers.
Based in San Diego, California, St. Bernard (OTCBB: SBSW) markets its solutions through a network of value added resellers, distributors, system integrators, OEM partners and directly to end users. For more information about St. Bernard Software, visit www.stbernard.com.
©2010 St. Bernard Software Inc. All rights reserved. The St. Bernard Software logo, iPrism, iGuard, the Red Condor Logo, and Vx Technology are trademarks of St. Bernard Software Inc. All other trademarks and registered trademarks are hereby acknowledged.
This press release may contain forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, among other things, any statements of the plans, strategies, and objectives of management for future operations, including statements regarding potential new markets and clients and our ability to execute upon our new platform strategy and our ability to positively change the landscape of the security industry; any statements concerning proposed new products, services, or developments, including statements regarding the expansion of our product portfolio for on-demand, on-premise, and hybrid Secure Content Management solutions; any statements about expected opportunities for growth, statements of belief, including statements about the possible positive impact on our customers and shareholders, and any statement of assumptions underlying any of the foregoing.
The risks, uncertainties and assumptions referred to above include, among other things, the ability of Dave Smith to quickly and effectively integrate into St. Bernard's management team and to successfully execute the St. Bernard's sales strategies, including the expansion of St. Bernard's product portfolio for on-demand, on-premises, and hybrid Secure Content Management solutions and the ability to spearhead St. Bernard into larger enterprise clients and new overseas markets, the ability to effectively merge the operation of Red Condor with that of St. Bernard and the ability to retain the assets acquired, performance of contracts by customers and partners; employee management issues; the timely development, production and acceptance of products and services and their feature sets; the challenge of managing asset levels, including inventory; the flow of products into third-party distribution channels; and the difficulty of keeping expense growth at modest levels while increasing revenues. These and other risks and factors that could cause events or our results to differ from those expressed or implied by such forward-looking statements are described in our most recent annual report on Form 10-K, as well as other subsequent filings with the Securities and Exchange Commission. We assume no obligation and do not intend to update these forward-looking statements.
Media contact:
Lorrie Hunsaker
St. Bernard
(858) 524-2041
Email Contact
Source: Marketwire (October 25, 2010 - 8:00 AM EDT)
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Bank of Santa Clarita reports net earnings of USD194,000 for Q3 2010
Bank of Santa Clarita reports net earnings of USD194,000 for Q3 2010
Oct. 25, 2010 (M2 Communications Ltd.) --
Bank of Santa Clarita (OTCBB:BSCA) reported on Friday net earnings of USD 194,000 or USD 0.09 per basic and diluted share for the third quarter of 2010, down slightly compared to USD 218,000 or USD 0.10 for the same period last year.
Deposits totalled USD 137m at 30 September 2010, an increase of USD 18m or 15% from USD 119m at 31 December 2009.
The bank's net interest income for the third quarter was USD 1.52m, stable compared to net interest income of USD 1.53m for the 2009 third quarter. Non-interest income for the quarter was USD 243,000, against USD 114,000 in the same period of 2009.
Shareholders' equity at 30 September 2010 totalled USD 20.3m and the bank's total risk-based regulatory capital ratio was 16.05%, exceeding the "well-capitalised" level of 10%.
(Comments on this story may be sent to info@m2.com)
Source: M2 Presswire (October 25, 2010 - 7:20 AM EDT)
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Chino Commercial Bancorp Reports 104.1% Increase in Third Quarter Earnings
Chino Commercial Bancorp Reports 104.1% Increase in Third Quarter Earnings
Oct. 25, 2010 (GlobeNewswire) --
CHINO, Calif., Oct. 25, 2010 (GLOBE NEWSWIRE) -- The Board of Directors of Chino Commercial Bancorp (OTCBB:CCBC), the parent company of Chino Commercial Bank, N.A., announced the results of operations for the Bank and the consolidated holding company for the third quarter ended September 30, 2010 with net earnings of $194,041, a 104.1% increase from net income of $95,080 for the third quarter of last year. The net earnings for the most recent quarter represent $0.26 per diluted share, as compared with $0.13 per diluted share from the same quarter last year. The Company's profit year-to-date decreased 13.3% to $249,519 or $0.35 per diluted share as compared with net earnings of $287,878 or $0.39 per diluted share for the same period last year.
Dann H. Bowman, President and Chief Executive Officer, stated, "We are very pleased with the performance of the Bank during the third quarter. Not only did the Bank post a significant improvement in net earnings, but even more important was that we had no delinquent loans at the quarter-end. At this time in the economic cycle, we are very fortunate to be experiencing such strong performance and earnings."
Financial Condition
Balance sheet changes during the nine months of 2010 include a sizeable increase in deposits and a slight decrease in loans. Total deposits increased by $9.5 million, or 10.2%, to $101.7 million at September 30, 2010. Much of the growth was in demand deposits which increased $6.1 million, or 16.9%. Time deposits decreased $1.7 million or 6.9% during the nine months of 2010, ending at $22.6 million at September 30, 2010. Combined NOW and money market demand accounts increased to $4.7 million at September 30, 2010, a 15.2% increase from $31.1 million at December 31, 2009, while savings accounts increased 33.3% from $1.0 million at December 31, 2009 to $1.3 million at September 30, 2010.
Total assets increased from $103.6 million at December 31, 2009 to $112.7 million at September 30, 2010, an 8.8% increase. Gross Loans declined slightly from $61.4 million to $59.3 million, and investments increased from $33.3 million to $38.3 million.
The Company has experienced net loan losses thus far this year totaling $495,125, has three loans on non-accrual, and very few delinquent loans in the three quarters of 2010. Although on non-accrual, three loans totaling $1.5 million are current and paying as agreed.
Earnings
The Company posted net interest income for the quarters ended September 30, 2010 and September 30, 2009 of $1,005,347 and $1,015,974, respectively. For the nine months ended September 30, the Company posted net interest income of $2,935,421 and $2,732,607 for 2010 and 2009, respectively. Significant contributors to the increase in net interest income for the nine months ended September 30, 2010 were the increased interest and fees on loans and interest from investment securities. Loan interest decreased $68,918, or 6.1%, to $1,056,071 for the third quarter of 2010 compared with the third quarter of 2009. Year-to-date interest and fees income from loans increased $182,513, or 6.1%, comparing 2010 with 2009. Interest expense on deposits decreased $20,668, or 8.6%, comparing the quarters ended September 30, 2010 with 2009. On a year-to-date comparison, interest on deposits decreased $3,798, or 0.5% in 2010 compared to the same period in 2009. Interest from investments and due from banks increased $37,570, or 20.7% and $16,355, or 2.7% for the quarter and nine months ended September 30, 2010 compared to the same periods in 2009. Average interest-earning assets were $102.8 million with average interest-bearing liabilities of $65.4 million, yielding a net interest margin of 4.82% for the nine months ended September 30, 2010; as compared to average interest-bearing assets of $81.6 million with average interest-bearing liabilities of $49.0 million, yielding a net interest margin of 3.48% for the nine months ended September 30, 2009.
Non-interest income totaled $424,989 for the three months ended September 30, 2010, or a 54.4% increase from $275,322 earned during the third quarter of 2009. Non-interest income increased 33.8% for the nine months ended September 30, 2009 to $1,037,752, as compared to $775,483 for the nine months ended September 30, 2009. Affecting the increase in non-interest income through September 30, 2010 were a proceeds from the sale of repossessed equipment of $127,839 offset by the recognition of a net probable loss from the sales of Other Real Estate Owned for $27,500. Service charges on deposit accounts increased by $52,447 in the quarter-to-quarter and $157,751 in the year-to-year comparisons of periods ended September 30, 2010 and 2009.
General and administrative expenses were $1,105,290 and $3,079,333 for the three and nine months ended September 30, 2010, respectively, as compared to $861,595 and $2,646,238 for the three and nine months ended September 30, 2009. The increases in General and administrative expenses occurred mainly in Salaries and employee benefits, which increased due to the opening of a new branch in April 2010.
Income tax expense was $115,361 and $114,325 for the three and nine months ended September 30, 2009, as compared to $46,797 and $142,269 for the same periods of 2008. The effective income tax rate for 2010 and 2009 is approximately 31.4% and 33.1%, respectively.
Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. These forward-looking statements involve risks and uncertainties including but not limited to the health of the national and California economies, the Company's ability to attract and retain skilled employees, customers' service expectations, the Company's ability to successfully deploy new technology and gain efficiencies there from, changes in interest rates, loan portfolio performance, and other factors detailed in the Company's SEC filings.
CHINO COMMERCIAL BANCORP
CONSOLIDATED BALANCE SHEET
September 30, 2010 and December 31, 2009
September 30, 2010 December 31, 2009
(unaudited) (audited)
ASSETS:
Cash and due from banks $ 5,291,152 $ 3,089,300
Interest-bearing deposits in other banks 20,235,252 25,433,602
Investment securities available for sale 4,923,101 5,567,855
Investment securities held to maturity (fair value approximates
$14,403,000 at September 30, 2010 and $2,332,000 at December 31, 2009) 13,111,506 2,291,962
Total investments 38,269,859 33,293,419
Loans
Real estate 49,945,608 50,931,354
Commercial 8,732,513 9,621,310
Installment 618,877 855,564
Gross loans 59,296,998 61,408,228
Unearned fees and discounts (20,819) (17,887)
Loans net of unearned fees and discount 59,276,179 61,390,341
Allowance for loan losses (1,312,397) (1,277,526)
Net loans 57,963,782 60,112,815
Accrued interest receivable 355,727 326,206
Restricted stock 643,350 677,650
Fixed assets, net 5,870,079 3,100,183
Other real estate owned 1,035,255 24,861
Prepaid & other assets 3,276,705 2,956,242
Total assets $ 112,705,909 $ 103,580,676
LIABILITIES:
Deposits
Non-interest bearing $ 41,939,034 $ 35,872,495
Interest Bearing
NOW and money market 35,885,849 31,148,654
Savings 1,336,972 1,003,290
Time deposits less than $100,000 6,626,503 6,722,558
Time deposits of $100,000 or greater 15,956,990 17,541,461
Total deposits 101,745,348 92,288,458
Accrued interest payable 106,557 125,823
Borrowings from Federal Home Loan Bank (FHLB) 0 994,000
Accrued expenses & other payables 752,597 612,667
Subordinated notes payable to subsidiary trust 3,093,000 3,093,000
Total liabilities 105,697,502 97,113,948
STOCKHOLDERS' EQUITY
Common stock, authorized 10,000,000 shares with no par value, issued
and outstanding 749,890 shares and 699,061 shares at September 30,
2010 and December 31, 2009, respectively. 2,771,322 2,498,664
Retained earnings 4,134,427 3,884,907
Accumulated other comprehensive income 102,658 83,157
Total stockholders' equity 7,008,407 6,466,728
Total liabilities & stockholders' equity $ 112,705,909 $ 103,580,676
CHINO COMMERCIAL BANCORP
CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
For the three months ended
September 30 For the nine months ended
September 30
2010 2009 2010 2009
Interest income
Investment securities and due from banks $ 218,940 $ 181,370 $ 619,330 $ 602,975
Interest on Federal funds sold 0 46 0 102
Interest and fee income on loans 1,056,071 1,124,989 3,171,514 2,989,001
Total interest income 1,275,011 1,306,405 3,790,844 3,592,078
Interest expense
Deposits 218,701 239,369 701,966 705,764
Interest on Federal funds purchased 0 0 18 115
Interest on FHLB borrowings 0 99 551 704
Other borrowings 50,963 50,963 152,888 152,888
Total interest expense 269,664 290,431 855,423 859,471
Net interest income 1,005,347 1,015,974 2,935,421 2,732,607
Provision for loan losses 15,644 287,824 529,996 431,705
Net interest income after provision for loan losses 989,703 728,150 2,405,425 2,300,902
Non-interest income
Service charges on deposit accounts 300,166 247,719 862,307 704,556
Other miscellaneous income 104,394 6,889 119,218 13,943
Dividend income from restricted stock 2,961 3,791 4,418 6,606
Income from bank-owned life insurance 17,468 16,923 51,809 50,378
Total non-interest income 424,989 275,322 1,037,752 775,483
General and administrative expenses
Salaries and employee benefits 543,501 450,624 1,637,951 1,383,099
Occupancy and equipment 124,668 86,239 316,138 242,522
Data and item processing 91,393 77,134 263,233 218,900
Advertising and marketing 16,347 15,777 45,228 49,569
Legal and professional fees 107,375 47,714 191,818 137,900
Regulatory Assessments 56,489 48,947 162,239 167,670
Insurance 9,958 8,096 27,950 23,540
Directors' fees and expenses 16,541 18,963 50,959 54,621
Other expenses 139,018 108,101 383,817 368,417
Total general & administrative expenses 1,105,290 861,595 3,079,333 2,646,238
Income before income tax expense (benefit) 309,402 141,877 363,844 430,147
Income tax expense (benefit) 115,361 46,797 114,325 142,269
Net income $ 194,041 $ 95,080 $ 249,519 $ 287,878
Basic earnings per share $ 0.26 $ 0.14 $ 0.35 $ 0.41
Diluted earnings per share $ 0.26 $ 0.13 $ 0.35 $ 0.39
CHINO COMMERCIAL BANCORP
For the three months ended
September 30 For the nine months ended
September 30
2010 2009 2010 2010
KEY FINANCIAL RATIOS
(unaudited)
Return on average equity 11.36% 6.16% 7.58% 6.20%
Return on average assets 0.67% 0.39% 0.29% 0.42%
Net interest margin 3.92% 4.57% 3.82% 4.48%
efficiency ratio 77.27% 66.72% 77.50% 75.43%
Net chargeoffs to average loans 0.03% 0.01% 0.81% 0.01%
AVERAGE BALANCES
(thousands, unaudited)
Average assets $ 115,921 $ 98,459 $ 116,695 $ 91,347
Average interest-earning assets $ 101,743 $ 88,173 $ 102,786 $ 81,605
Average gross loans $ 60,019 $ 61,834 $ 60,838 $ 54,670
Average deposits $ 105,039 $ 87,848 $ 102,459 $ 80,536
Average equity $ 6,831 $ 6,232 $ 6,582 $ 6,193
CREDIT QUALITY End of period
(unaudited September 30, 2010 December 31, 2009
Non-performing loans $ 1,524,878 $ 1,493,919
Non-performing loans to total loans 2.57% 2.43%
Non-performing loans to total assets 1.35% 1.44%
Allowance for loan losses to loans 2.21% 2.08%
OTHER PERIOD-END STATISTICS
(unaudited September 30, 2010 December 31, 2009
Shareholders equity to total assets 6.22% 6.24%
Loans to deposits 58.28% 66.54%
Non-interest bearing deposits to total deposits 41.22% 38.87%
CONTACT: Chino Commercial Bank, N.A.
Dann H. Bowman, President and CEO
Sandra F. Pender, Senior Vice President and CFO
(909) 393-8880
14345 Pipeline Avenue
Chino, Ca. 91710
Source: Globe Newswire (October 25, 2010 - 7:01 AM EDT)
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Attunity to Present at AGC East Coast Emerging Growth Conference on October 27, 2010
Attunity to Present at AGC East Coast Emerging Growth Conference on October 27, 2010
Oct. 25, 2010 (PR Newswire) --
BURLINGTON, Mass. -- Attunity Ltd. (OTC Bulletin Board: ATTUF.OB), a leading provider of real-time data integration and event capture software, announced today that Shimon Alon, Chairman and CEO of the Company, will present a corporate overview at the America's Growth Capital (AGC) 7th Annual East Coast Emerging Growth Conference in Boston on Wednesday, October 27, 2010 at 1 p.m. EDT.
About Attunity
Attunity is a leading provider of real-time data integration and event capture software. Our offering includes software solutions such as Attunity Stream®, a real-time and change-data-capture (CDC) software, our Operational Data Replication (ODR) solution and Attunity Connect®, our real-time connectivity software. Using Attunity's software solutions, our customers enjoy dramatic business benefits by enabling real time access to information where and when needed, across the maze of heterogeneous systems making up today's IT environment.
Attunity has supplied innovative software solutions to its enterprise-class customers for nearly 20 years and has successful deployments at thousands of organizations worldwide. Attunity provides software directly and indirectly through a number of partners such as Microsoft, Oracle, IBM and HP. Headquartered in Boston, Attunity serves its customers via offices in North America, Europe, and Asia Pacific and through a network of local partners. For more information, visit http://www.attunity.com and join our community on Twitter, Facebook and LinkedIn.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal Securities laws. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results could differ materially from Attunity's current expectations. Factors that could cause or contribute to such differences include, but are not limited to: the impact on revenues of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism; our liquidity challenges and the need to raise additional capital in the future; any unforeseen developmental or technological difficulties with regard to Attunity's products; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; a shift in demand for products such as Attunity's; unknown factors affecting third parties with which Attunity has formed business alliances; timely availability and customer acceptance of Attunity's new and existing products; and other factors and risks on which Attunity may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Attunity, reference is made to Attunity's Annual Report on Form 20-F for the year ended December 31, 2009, which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by Attunity in reports filed or furnished to the SEC. Except as otherwise required by law, Attunity undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
All Rights Reserved. Attunity is a registered trademark of Attunity Inc. All other product and company names herein may be trademarks of their respective owners.
Press contact for Attunity:
Itamar Ankorion, Director of Marketing and Business Development, Attunity
itamar.ankorion@attunity.com
Tel. 781-730-4071
SOURCE Attunity
Itamar Ankorion, Director of Marketing and Business Development, Attunity, +1-781-730-4071, itamar.ankorion@attunity.com
Source: PR Newswire (October 25, 2010 - 7:00 AM EDT)
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Titan Reports Third Quarter 2010 Fanapt® Royalty
Titan Reports Third Quarter 2010 Fanapt® Royalty
Oct. 25, 2010 (PR Newswire) --
SOUTH SAN FRANCISCO, Calif. -- Titan Pharmaceuticals, Inc. (OTC Bulletin Board: TTNP) today reported that the company expects to receive a royalty payment of approximately $395,000 on third quarter 2010 net sales of Fanapt (iloperidone) of approximately $4.9 million. Prescriptions for Fanapt, an important indicator of market acceptance during product launch, showed a steady growth trend during the third quarter according to analyst reports which showed that total weekly prescriptions for Fanapt grew from approximately 1,200 prescriptions/week at the end of June to about 1,800 prescriptions/week by late September.
About Titan Pharmaceuticals
For information concerning Titan Pharmaceuticals, Inc., please visit the Company's website at www.titanpharm.com.
The press release may contain "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. Such statements include, but are not limited to, any statements relating to the Company's development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Company's drug candidates, adverse side effects or inadequate therapeutic efficacy of the Company's drug candidates that could slow or prevent product development or commercialization, the uncertainty of patent protection for the Company's intellectual property or trade secrets, and the Company's ability to obtain additional financing. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.
CONTACT:
Titan Pharmaceuticals, Inc.
Sunil Bhonsle
sbhonsle@titanpharm.com
SOURCE Titan Pharmaceuticals, Inc.
Sunil Bhonsle of Titan Pharmaceuticals, Inc., sbhonsle@titanpharm.com
Source: PR Newswire (October 25, 2010 - 7:00 AM EDT)
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Soligenix Announces Preliminary Results of its Phase 2 Clinical Trial of orBec® in the Prevention of Acute GVHD
Soligenix Announces Preliminary Results of its Phase 2 Clinical Trial of orBec® in the Prevention of Acute GVHD
Oct. 25, 2010 (PR Newswire) --
PRINCETON, N.J. -- Soligenix, Inc. (Soligenix or the Company) (OTC Bulletin Board: SNGX), a late-stage biopharmaceutical company, today reported preliminary results from its Phase 2 "proof-of-concept" exploratory clinical trial of orBec® for the prevention of acute Graft-versus-Host disease (GVHD) in patients undergoing myeloablative conditioning regimens with initiation of dosing prior to hematopoietic cell transplantation (HCT) and continuing through the post-transplantation period. The preliminary results indicate that orBec® appears safe and well tolerated in this patient population, but did not achieve statistical significance in the primary endpoint, which was the proportion of subjects who developed acute GVHD with severity sufficient to require systemic immunosuppressive treatment on or before day 90 after transplantation. However, an encouraging result was that use of orBec® resulted in fewer cases of more severe acute GVHD grades IIb-IV (21% vs. 33% of patients receiving placebo), although this difference was not statistically significant. This result has the potential to be clinically relevant because GVHD grades IIb-IV are associated with more severe disease involving the skin and liver as well as being associated with poorer outcomes, including mortality rates that approach 100% in the grade IV patient population. Further analysis of the complete dataset continues and is aimed at identifying other potential effects seen with orBec® in preventing acute GVHD.
The Phase 2 prevention study was a randomized, double-blind, placebo-controlled trial that enrolled 140 patients who had been randomized to either orBec® or placebo at a 2:1 ratio. Prior to HCT, patients began study drug at the start of their conditioning regimen and continued through day 75 following HCT. The study was conducted primarily at the Fred Hutchinson Cancer Research Center in Seattle, WA and was supported, in large part, by a National Institutes of Health (NIH) grant. The impetus for this NIH-funded prevention study came from two double-blind, randomized, placebo-controlled trials showing that orBec® was effective and safe as a treatment for acute gastrointestinal (GI) GVHD.
Paul J. Martin, MD, Principal Investigator for the Phase 2 study and a Member, Fred Hutchinson Cancer Research Center stated, "Trials with orBec® have shown a consistent and positive clinical response in the treatment of acute GI GVHD. We therefore designed a trial to determine whether orBec® could be used to prevent GVHD. Preliminary analysis indicates that administration of orBec® starting before transplantation did not provide a statistically significant clinical advantage in preventing acute GVHD in this study, possibly because of confounding factors associated with the chemotherapy or radiation. Preventive administration of orBec® to reduce the incidence or severity of GVHD warrants further investigation, for example, by starting orBec® dosing after transplantation, closer to the initial inflammatory insult of acute GVHD. We are continuing to analyze the data in order to gain a better understanding of potential preventive treatment effects in this patient population and to determine the best approach for subsequent study."
Dr. Martin continued, "In my mind, the results from this prevention study have no clinical implication regarding the likelihood of success in the ongoing Phase 3 study of orBec® for the treatment of acute GI GVHD."
"This Phase 2 clinical trial was truly proof-of-concept and the first of its kind. It was an aggressive approach to determining if a topically-active steroid therapy, like orBec®, could have an impact on preventing the development of GVHD very early in the disease process," added Brian L. Hamilton, MD, PhD, Chief Medical Officer of Soligenix. "The trend towards less severe acute GVHD in the patients treated with orBec® is encouraging. We are continuing to analyze the Phase 2 data for other clinically meaningful signals."
Dr. Hamilton continued, "We obviously remain confident in the ultimate success of our confirmatory Phase 3 study of orBec® in the treatment of acute GI GVHD. This Phase 3 trial is anchored by more than 15 years of clinical research in the treatment setting, including positive results from two prior randomized, double-blind, placebo-controlled studies. The current Phase 3 study is designed to replicate the endpoint of treatment failure rate at Study Day 80, which was successfully measured as a secondary endpoint (p-value 0.005) in the Company's previous Phase 3 study. Accordingly, there is no correlation between the prospects for success in these distinctly different therapeutic indications and patient populations. We continue to make good progress towards completing the confirmatory Phase 3 trial in treatment of acute GI GVHD in the second half of next year."
About orBec®
orBec®, oral beclomethasone dipropionate (oral BDP), is currently the subject of a confirmatory Phase 3 clinical trial in the treatment of acute GI GVHD. This Phase 3 trial, also referred to as the SUPPORTS protocol (Sparing Unnecessary Prednisone Phase 3 orBec® Randomized Treatment Study), will enroll an estimated 166 patients to confirm the clinically meaningful endpoints observed in previous Phase 2 and Phase 3 clinical studies. The primary endpoint is the treatment failure rate at Study Day 80. This endpoint was successfully measured as a secondary endpoint (p-value 0.005) in the Company's previous Phase 3 study as a key measure of durability following a 50-day course of treatment with orBec® (i.e., 30 days following cessation of treatment). The SUPPORTS trial is being conducted at major transplant centers throughout the US, Europe, and Australia and is expected to complete in the second half of 2011. The trial is the subject of a Special Protocol Assessment (SPA) agreement that the Company reached with the US Food and Drug Administration (FDA).
orBec® was the subject of two prior randomized, double-blind, placebo-controlled clinical trials in acute GI GVHD. The first study was a 60-patient Phase 2 single-center clinical trial conducted at the Fred Hutchinson Cancer Research Center, which demonstrated statistical significance in its primary endpoint of controlling GI GVHD (p-value 0.02). The second study was a 129-patient pivotal Phase 3 multi-center clinical trial conducted at 16 leading bone marrow/stem cell transplant centers in the US and France. Although orBec® did not achieve statistical significance in the primary endpoint of its pivotal trial, namely median time-to-treatment failure through Day 50 (p-value 0.1177), orBec® did achieve statistical significance in other key secondary endpoints such as the proportion of patients free of GVHD at Day 50 (p-value 0.05) and Day 80 (p-value 0.005) and the median time to treatment failure through Day 80 (p-value 0.0226), as well as a 66% reduction in mortality among patients randomized to orBec® at 200 days post-transplant with only 5 patient (8%) deaths in the orBec® group compared to 16 patient (24%) deaths in the placebo group (p-value 0.0139). At one year post-randomization in the Phase 3 trial, 18 patients (29%) in the orBec® group and 28 patients (42%) in the placebo group died within one year of randomization (46% reduction in mortality, p-value 0.04).
orBec® represents a first-of-its-kind oral, locally acting therapy tailored to treat the GI manifestation of acute GVHD, the organ system where GVHD is most frequently encountered and highly problematic. orBec® is intended to reduce the need for systemic immunosuppressive drugs to treat GI GVHD. orBec® is formulated for oral administration in GVHD patients as a single product consisting of two tablets; one tablet is intended to release BDP in the proximal portions of the GI tract, and the other tablet is intended to release BDP in the distal portions of the GI tract. Oral BDP may also have application in treating other GI disorders characterized by severe inflammation.
In addition to issued patents and pending worldwide patent applications, orBec® benefits from orphan drug designations in the US and in Europe for the treatment of GI GVHD, as well as an orphan drug designation in the US for the prevention of acute GVHD and the treatment of chronic GI GVHD. Orphan drug designations provide for 7 and 10 years of market exclusivity upon approval in the US and Europe, respectively. orBec® has also received Fast Track designation from the FDA for the treatment of GI GVHD.
About GVHD
GVHD is a debilitating and painful disease. It is a common disorder among immunocompromised cancer patients after receiving allogeneic stem cell or bone marrow transplants. Unlike organ transplants where the patient's body may reject the organ, in GVHD it is the donor cells that begin to attack the patient's body – most frequently the gut, liver and skin. Patients with mild-to-moderate GI GVHD typically develop symptoms of anorexia, nausea, vomiting and diarrhea. If left untreated, GI GVHD can progress to ulcerations in the lining of the GI tract, and in its most severe form, can be fatal.
Systemic immunosuppressive agents such as prednisone, which are the current standard treatments for GVHD, are associated with high mortality rates due to infection and debility. Further, these drugs have not been approved for treating GVHD in the US or European Union, but rather are used off-label for this indication.
About Soligenix, Inc.
Soligenix, Inc. (Soligenix) is a late-stage biopharmaceutical company developing products to treat life-threatening side effects of cancer treatments and serious gastrointestinal diseases, and vaccines for certain bioterrorism agents. Soligenix's lead product, orBec® (oral beclomethasone dipropionate or BDP), is a potent, locally acting corticosteroid being developed for the treatment of acute gastrointestinal Graft-versus-Host disease (GI GVHD), a common and potentially life-threatening complication of hematopoietic cell transplantation. orBec® is currently the subject of a $1.2M FDA Orphan Products Grant to support the confirmatory Phase 3 clinical trial for the treatment of acute GI GVHD. Soligenix is also conducting an NIH-supported Phase 1/2 clinical trial of SGX201 in the prevention of acute radiation enteritis. Additionally, Soligenix has a Lipid Polymer Micelle (LPM™) drug delivery technology for the oral delivery of leuprolide for the treatment of prostate cancer and endometriosis.
Through its Biodefense Division, Soligenix is developing biomedical countermeasures pursuant to the Project BioShield Act of 2004. Soligenix's lead biodefense product in development is a recombinant subunit vaccine called RiVax™, which is designed to protect against the lethal effects of exposure to ricin toxin. RiVax™ has been shown to be well tolerated and immunogenic in a Phase 1 clinical trial in normal volunteers. RiVax™ is also the subject of a $9.4 million NIH grant received by the Company supporting development of new heat stable vaccines.
For further information regarding Soligenix, Inc., please visit the Company's website at www.soligenix.com.
This press release contains forward-looking statements that reflect Soligenix, Inc.'s current expectations about its future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes," "intends," or similar expressions, are forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual events or results in future periods to differ materially from what is expressed in, or implied by, these statements. Soligenix cannot assure you that it will be able to successfully develop or commercialize products based on its technology, including orBec®, SGX201, RiVax™, and LPM™, particularly in light of the significant uncertainty inherent in developing vaccines against bioterror threats, manufacturing and conducting preclinical and clinical trials of vaccines, and obtaining regulatory approvals, that its cash expenditures will not exceed projected levels, that product development and commercialization efforts will not be reduced or discontinued due to difficulties or delays in clinical trials or due to lack of progress or positive results from research and development efforts, that it will be able to successfully obtain any further grants and awards, maintain its existing grants which are subject to performance, enter into any biodefense procurement contracts with the US Government or other countries, that the US Congress may not pass any legislation that would provide additional funding for the Project BioShield program, that it will be able to patent, register or protect its technology from challenge and products from competition or maintain or expand its license agreements with its current licensors, or that its business strategy will be successful. Important factors which may affect the future use of orBec® for gastrointestinal GVHD include the risks that: the FDA's requirement that Soligenix conduct additional clinical trials to demonstrate the safety and efficacy of orBec® will take a significant amount of time and money to complete and positive results leading to regulatory approval cannot be assumed; Soligenix is dependent on the expertise, effort, priorities and contractual obligations of third parties in the clinical trials, manufacturing, marketing, sales and distribution of its products; orBec® may not gain market acceptance if it is eventually approved by the FDA; and others may develop technologies or products superior to orBec®. Factors affecting the development and use of SGX201 and LPM™ are similar to those affecting orBec®. These and other factors are described from time to time in filings with the Securities and Exchange Commission, including, but not limited to, Soligenix's reports on Forms 10-Q and 10-K. Unless required by law, Soligenix assumes no obligation to update or revise any forward-looking statements as a result of new information or future events.
SOURCE Soligenix, Inc.
Evan Myrianthopoulos, Chief Financial Officer, Soligenix, Inc., +1-609-538-8200
Source: PR Newswire (October 25, 2010 - 7:00 AM EDT)
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Small Cap Stocks ECOB, GTGP & MCTH
Small Cap Stocks ECOB, GTGP & MCTH
Oct. 25, 2010 (M2 Communications Ltd.) --
Boston, MA — EcoBlu Products, Inc. (OTCBB: ECOB); Global Technologies Group, Inc. (GTGP.PK); Medical Connections Holdings, Inc. (OTCBB: MCTH)
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Stock Profiler.US, LLC (www.stockprofiler.us) has launched the Small Cap Market Place (SCMP), which features the CEO Module. Don’t Miss Out on the New Small Cap Market Place Revolution - The First 100 Companies to Sign Up for a CEO Module will Receive up to Three (3) Months of FREE Market Awareness Services!
CEO’s - Please contact Eric Cousens (eric@kerryassociates.com), President/CEO of Kerry Associates, Inc. at (603) 365-8034 for more information.
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Company News: EcoBlu Products Conducts Exclusive Interview with Wall Street Reporter®
VISTA, Calif. - Oct. 25, 2010 - EcoBlu Products, Inc. (OTCBB: ECOB) announced today that EcoBlutm Products CEO Steve Conboy conducted an exclusive interview with Wall Street Reporter® focusing on technology and recent growth experienced at EcoBlutm Products.
EcoBlu Products, Inc. closed at $0.07 Friday, trading 495,635 shares.
About EcoBlu Products, Inc.
EcoBlu Products, Inc. is a manufacturer of proprietary wood products coated with an eco-friendly chemistry that protects against fire, mold, fungus, rot-decay, wood ingesting insects and termites with EcoBlu’s FRC™ technology (Fire Retardant Coating). EcoBlu products utilizing BLUWOOD™ and FRC™ technology is the ultimate in wood protection, preservation, and fire safety to building components constructed of wood; from joists, beams and paneling, to floors and ceilings.
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Company News: Global Technologies Group, Inc. Signs Additional Distribution and Reseller Agreement for the European Union and Canada
SARASOTA, Fla. - Oct. 25, 2010 - Global Technologies Group, Inc. (GTGP.PK) has entered into a second distribution and reseller agreement with MSE Technology Associates, Inc. (MSE-TA.COM). The countries covered by this agreement include the European Union (twenty seven countries) and Canada.
Global Technologies Group, Inc. closed at $0.06 Friday, trading 348,036 shares.
About Global Technologies Group, Inc.
Global Technologies Group, Inc. (GLOBAL) is a company that is in the business of acquiring exclusive licenses and distribution and reseller contracts on proven technologies in the environmental, green and war fighter industries. The criteria for the licensing or distribution agreements of the technologies are: they must be proven, validated and in use. The business plan of Global is to sublicense the technologies it acquires to companies in Countries covered under the original license grants. For our exclusive distribution and reseller agreements, we partner with appropriate representatives in the covered countries for resale of turn key projects.
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Company News: Medical Connections Holdings, Inc. Secures $2.5 Million in Additional Funding for Acquisitions
BOCA RATON, Fla. - Oct. 25, 2010 - Medical Connections Holdings, Inc. (OTCBB: MCTH), a national provider of medical recruitment and staffing services, announced today that it has received $2.5 million in new acquisition capital from Medical Connections-Japan.
Medical Connections Holdings, Inc. closed at $0.17 Friday, trading 53,336 shares.
About Medical Connections, Inc.
Medical Connections, Inc. is a national provider of medical recruitment and staffing services. The Company’s business is to identify, select and place the industry’s most talented healthcare specialists, nurses, pharmacists, physicians and hospital management executives. The Company provides recruiting and staffing services for permanent and contract positions, leaving options for both clients and candidates to decide the optimal formula for working together. With headquarters in Boca Raton, Florida, Medical Connections is ideally positioned to increase its presence in the U.S. healthcare market. Medical Connections Holdings, Inc. is a fully reporting company trading on the OTC B/B under the ticker: MCTH.
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Avion Establishes an Initial 547,000 Ounce Inferred Mineral Resource in Burkina Faso
Avion Establishes an Initial 547,000 Ounce Inferred Mineral Resource in Burkina Faso
Zone Open Along Strike and to Depth
Oct. 26, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 10/26/10 -- Avion Gold Corporation (TSX VENTURE: AVR)(OTCQX: AVGCF) ("Avion" or "The Company") is pleased to announce an initial resource estimate for the Vindaloo zone on the Hounde Property in Burkina Faso. Avion recently finalized its acquisition of the property from Avocet Mining PLC (see Avion news releases dated January 29, 2010, July 5, 2010, and, October 7, 2010). Highlights of the Vindaloo initial resource estimate at a 1.0 g/t Au cut-off grade defined within an optimized pit shell are as follows:
-- 883,000 tonnes Indicated Mineral Resources at 2.23 g/t Au totaling
63,000 Ounces(i)
-- 5,725,000 tonnes Inferred Mineral Resources at 2.97 g/t Au totaling
547,000 Ounces(i)
(i)
1. Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimate of mineral resources may
be materially affected by environmental, permitting, legal, title,
taxation, sociopolitical, marketing, or other relevant issues and are
subject to the findings of a definitive feasibility study.
2. The quantity and grade of reported inferred resources in this
estimation are uncertain in nature and there has been insufficient
exploration to define these inferred resources as an indicated or
measured mineral resource and it is uncertain if further exploration
will result in upgrading them to an indicated or measured mineral
resource category.
3. The Vindaloo Zone Resource Estimates were prepared by Eugene Puritch,
P. Eng. and Antoine Yassa, P. Geo. from P&E Mining Consultants Inc.,
Qualified Persons under NI 43-101 who are independent of the Company
4. The mineral resources in this press release were estimated using the
Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM
Standards on Mineral Resources and Reserves, Definitions and
Guidelines prepared by the CIM Standing Committee on Reserve
Definitions and adopted by CIM Council December 11, 2005.
5. The gold price used in this estimate was the June 30, 2010 two year
trailing average of US$1,027/oz. Au recovery was 92% and mining costs
were US$2.75/tonne of ore and US$1.50/tonne of waste. Processing and
G&A costs combined were US$30/tonne. Pit optimization slopes were 50
degrees.
Gold mineralization in this very large, 1,670 km2 property, displays similar characteristics with SEMAFO's Mana Mine (which hosts estimated mineral reserves and resources totaling 2.35 million ounces of gold and Inferred mineral resources totaling 0.91 million ounces of gold), which is located in the same geological belt, 60 kilometres to the northeast. The property is centered approximately 250 km southwest of Ouagadougou, the capital of Burkina Faso (see Figure 1).
Avion has intersected gold mineralization along a 500 metre strike length to at depth of approximately 200 metres from surface with drill hole step-outs of 75 to 100 metres horizontally and vertically. This zone is open along strike and to depth and has been defined by approximately 23 drill holes. The mineralization trend, associated with the Vindaloo zones, can be traced through drilling, soil survey data and magnetic surveys for over 2,500 metres along strike.
The Vindaloo zone is hosted near the contact between an intensely sericite- and silica-altered mafic intrusion and similarly-altered, intensely sheared and altered intermediate to mafic volcanoclastics. The mineralization is often quartz stockwork-style, intrusion-hosted and weakly to moderately pyritic. The entire mineralized package strikes north-northeast and dips steeply to the west. Higher gold grade zones have been intersected where the intrusion narrows.
John Begeman, Avion's President and CEO, stated: "The initial resource for the Vindaloo zone is very encouraging especially as the zone is open in all directions and that the overall grade is similar to that at Semafo's Mana mine. Avion's management is excited by what we believe are an abundance of quality drill targets, some of which will be tested in October and November."
Additional drill testing is planned in the fourth quarter of 2010. However, due to work commitments on the Company's other Hounde Property concessions, further drill testing at the Vindaloo zone will be limited, at this time, to 4 to 6 holes to test for strike extensions of the zone.
Technical Data
In order to determine the resources for Vindaloo, Avion initially interpreted the mineralized zone wireframes with an approximate 0.5 g/t Au cut-off grade. This zone definition was subsequently provided to P&E Mining Consultants Inc. ("P&E") who carried out a site visit, collected verification samples, finalized the mineralization wireframes and prepared the deposit mineral resource estimate. The mineral resource is constrained by two zones varying in true width from approximately 3.5 to 40 metres. Grade capping of gold assays was at 10 to 35 g/t Au, depending whether in a fresh or saprolite mineralized lens. Au grade model blocks were interpolated with the inverse distance cubed (1/d3) method. Assumptions of a gold price of US$1,027 per oz (Sep 30, 2010 24 month trailing average), 92% process recovery, ore mining costs of US$2.75/tonne, waste mining costs of US$1.50 /tonne, process costs of US$22/tonne and G&A costs of US$8.00 tonne were used to determine the 1.0 g/t Au open pit cut-off grade.
The Vindaloo resource calculation was prepared by Eugene Puritch, P. Eng. and Antoine Yassa, P. Geo. of P&E Mining Consultants Inc., both "Qualified Persons" as defined by NI 43-101who are independent of the Company. Mr. Puritch, President of P&E and Don Dudek, P.Geo., Senior Vice President, Exploration of the Company and a qualified person under National Instrument 43-101, have reviewed and approved the scientific and technical information in this press release.
Avion's procedures for handling core have been presented in previous news releases (See for example Avion News Release dated May 13, 2010).
Mining in Burkina Faso
The mining industry in Burkina Faso is growing at a rapid rate due to a combination of a stable elected democratic government, excellent geology and a competitive fiscal regime. Currently six gold mines are in production or development in Burkina Faso (Essakane - IAMGOLD Corporation, Mana - SEMAFO, Inata - Avocet Mining PLC, Youga - Etruscan Resources Inc., Taparko - High River Gold Mines Ltd., Kalsaka - Cluff Gold PLC). In 2011, it is expected that Burkina Faso will become the fourth largest gold producing country in Africa. The country has legislated low taxes, with an income tax rate of 20% and a corporate profits tax of 20% for mining companies. There is a three-year tax holiday during construction that includes relief from VAT and custom duties during construction and reduced customs duties of 7.5% during mining operations. The government is entitled to a 10% free carried interest and a reasonable 3% Royalty on gold production.
About Avion Gold Corporation
Avion is a Canadian-based gold mining company focused in West Africa that holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production commenced at these projects in 2009 with just over 51,000 ounces produced; 2010 production is estimated at 75,000 to 85,000 ounces. Production sustainability is supported and enhanced by an aggressive 2010 drill program over an approximately 600 km2 exploration package that both surrounds and is near to our existing mine infrastructure. Additionally, a new, 1,670 km2 exploration property in Burkina Faso is expected to return good results from an ongoing drill program. These properties are the subject of an approximate US$ 12 million dollar, 60,000 metre plus, drill-focused exploration program in 2010, which is expected, based on results to date, to add new resources and future opportunities for Avion. Avion continues to progress towards its longer term goal of producing 200,000 ounces of gold per year and is evaluating an underground mine plan for the Segala and Tabakoto deposits. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa.
Cautionary Notes
The ability of Avion to increase production to 200,000 ounces of gold per year has not been the subject of a feasibility study and there is no certainty that the proposed expansion will be economically viable.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of the drilling results on the Company; statements with respect to the development potential and timetable of the Hounde project; the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the Hounde Group Concessions map, please visit the following link: http://media3.marketwire.com/docs/avr_Hounde_Group_Concession_Map.pdf
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Avion Gold Corporation
Michael McAllister
Manager, Investor Relations
(416) 309-2134
info@aviongoldcorp.com
Source: Marketwire (October 26, 2010 - 8:01 AM EDT)
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Sulliden Continues Mineral Expansion at Shahuindo
Sulliden Continues Mineral Expansion at Shahuindo
Oct. 26, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 10/26/10 -- Sulliden Gold Corporation Ltd. ("Sulliden", the "Company") (TSX: SUE)(OTCQX: SDDDF) is pleased to announce further positive results from the current exploration program at the Shahuindo Gold Project located in northern Peru. Results continue to indicate mineral growth that extends beyond the current mineralized envelopes laterally and at depth. Sulliden expects the recent drill results to positively affect the new National Instrument 43-101 ("NI-43-101") mineral resource estimate, expected in early 2011.
Significant intercept derived from both the East and West zones in this group of exploration results are highlighted below. An economic cut-off grade of 0.17 g/t in gold oxides was established by AMEC in the NI 43-101 study (see news release of December 8, 2009).
-- 0.78 g/t Au over 106.5 meters including 1.62 g/t Au over 18 meters in
hole RSH10-57 in the EAST ZONE (See Figure 1)
-- 0.47 g/t Au over 100.5 meters including 1.03 g/t Au over 25.5 meters,
and 1.49 g/t Au over 72.0 meters in hole RSH10-66 in the WEST ZONE (See
Figure 2)
Peter Tagliamonte, President and CEO of Sulliden commented, "Today's results continue to increase our confidence in the excellent upside potential of the Shahuindo Gold Project. These positive exploration results continue to expand the mineralization inside and outside of the defined pit and will likely expand the future pit design and increase the mineable ounces. As we progress with our exploration program we will continue to define the limits of the mineralization along the Central Corridor, and begin to include other new promising targets in our exploration efforts."
Sulliden initiated a 30,000 meter resource expansion drilling program in August 2010, following the award of a project-wide exploration permit (See news release of July 20, 2010). To date, 86 holes totalling 17,000 meters of this program have been drilled in the Central Corridor and exploration activities continue on track with five drills currently operating on the site.
Summary of Results
Results from the new 14 drill holes in the tables below represent 2,800 meters of the current 30,000 meter exploration program. The selected sections 600W (Figure 1) and 1200E (Figure 2) graphically demonstrate the expanding mineral resource in purple from the existing red grade shells in the East and West zones.
To view Figure 1 - Section 600W, please visit the following link: http://media3.marketwire.com/docs/sdddf_1026_fig1.jpg.
To view Figure 2 - Section 1200E, please visit the following link: http://media3.marketwire.com/docs/sdddf_1026_fig2.jpg.
To view Figure 3 - Plan View with New Collar Locations, please visit the following link: http://media3.marketwire.com/docs/sdddf_1026_fig3.jpg.
Table 1 - Drill Results
----------------------------------------------------------------------------
WEST ZONE
----------------------------------------------------------------------------
From To Interval True Width Gold Silver
Drill hole # (meters) (meters) (meters) (meters)(1) (g/t) (g/t)
----------------------------------------------------------------------------
RSH10-61 No significant mineralized intersection
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-63 6.0 10.5 4.5 2.9 0.79 8.7
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-64 No significant mineralized intersection
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-65 34.5 121.5 87.0 51.1 0.66 22.4
----------------------------------------------------------------------------
including 54.0 97.5 43.5 25.6 0.98 28.1
----------------------------------------------------------------------------
RSH10-65 148.5 154.5 6.0 3.5 0.22 6.2
----------------------------------------------------------------------------
RSH10-65 183.0 223.5 40.5 23.8 0.37 12.5
----------------------------------------------------------------------------
RSH10-65 244.5 292.5 48.0 28.2 0.32 17.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-66 24.0 124.5 100.5 64.6 0.47 8.2
----------------------------------------------------------------------------
including 39.0 91.5 52.5 33.7 0.66 11.2
----------------------------------------------------------------------------
including 54.0 79.5 25.5 16.4 1.03 17.7
----------------------------------------------------------------------------
RSH10-66 147.0 159.0 12.0 7.7 0.23 9.8
----------------------------------------------------------------------------
RSH10-66(2, 3) 174.0 246.0 72.0 46.3 1.49 31.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SHM10-133(4) Samples sent for metallurgical testing
0.0 120.0 - results pending.
----------------------------------------------------------------------------
SHM10-133 120.0 140.1 20.1 9.2 0.38 10.2
----------------------------------------------------------------------------
SHM10-133 145.8 155.0 9.2 4.2 0.26 2.2
----------------------------------------------------------------------------
SHM10-133 216.6 225.6 9.0 4.1 0.45 3.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
CENTRAL ZONE
----------------------------------------------------------------------------
From To Interval True Width Gold Silver
Drill hole # (meters) (meters) (meters) (meters)(1) (g/t) (g/t)
----------------------------------------------------------------------------
SH10-129(5) 9.0 51.4 42.4 26.8 0.38 7.1
----------------------------------------------------------------------------
SH10-129 62.7 69.0 6.3 3.5 0.85 1.9
----------------------------------------------------------------------------
SH10-129 96.0 147.0 51.0 28.1 0.37 6.4
----------------------------------------------------------------------------
SH10-129 162.0 188.4 26.4 14.4 0.28 1.6
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EAST ZONE
----------------------------------------------------------------------------
From To Interval True Width Gold Silver
Drill hole # (meters) (meters) (meters) (meters)(1) (g/t) (g/t)
----------------------------------------------------------------------------
RSH10-52 9.0 37.5 28.5 17.2 0.33 3.7
----------------------------------------------------------------------------
RSH10-52 90.0 117.0 27.0 16.2 0.32 1.6
----------------------------------------------------------------------------
RSH10-52(2) 130.5 150.0 19.5 11.7 0.57 5.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-55 6.0 43.5 37.5 25.6 1.07 6.0
----------------------------------------------------------------------------
Including 6.0 25.5 19.5 13.3 1.70 9.3
----------------------------------------------------------------------------
RSH10-55 57.0 87.0 30.0 20.5 0.55 5.4
----------------------------------------------------------------------------
RSH10-55 151.5 156.0 4.5 3.1 0.53 0.4
----------------------------------------------------------------------------
RSH10-55 162.0 169.5 7.5 5.1 0.54 4.7
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-57 0.0 106.5 106.5 53.3 0.78 6.9
----------------------------------------------------------------------------
Including 0.0 36.0 36.0 18.0 1.62 4.0
----------------------------------------------------------------------------
RSH10-57(2) 118.5 148.5 30.0 15.0 0.41 6.7
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-59 25.5 37.5 12.0 6.0 0.35 4.9
----------------------------------------------------------------------------
RSH10-59 102.0 108.0 6.0 3.0 0.32 4.4
----------------------------------------------------------------------------
RSH10-59 120.0 136.5 16.5 8.3 0.34 1.9
----------------------------------------------------------------------------
RSH10-59 148.5 159.0 10.5 5.3 0.22 6.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-60 13.5 48.0 34.5 17.3 0.27 4.9
----------------------------------------------------------------------------
RSH10-60 84.0 91.5 7.5 3.8 1.76 8.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RSH10-67 9.0 87.0 78.0 44.7 0.61 6.0
----------------------------------------------------------------------------
RSH10-67 94.5 121.5 27.0 15.5 0.45 1.2
----------------------------------------------------------------------------
RSH10-67 157.5 169.5 12.0 6.9 0.25 1.7
----------------------------------------------------------------------------
RSH10-67(2) 229.5 261.0 31.5 18.1 0.44 7.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SHM10-118(6) 6.3 144.0 137.7 79.0 0.91 8.7
----------------------------------------------------------------------------
SHM10-118(6) 178.2 192.1 13.9 8.0 0.21 4.4
----------------------------------------------------------------------------
1. Assuming vertical or near-vertical zone, perpendicular or near-
perpendicular to the plane defined by the drill hole
2. Mineralization found within 10 meters of EOH
3. The same intersection also yielded 1.2% Zn
4. Twin hole of RCD 96-23
5. Mineralization in overburden
6. Metallurgical results from composite samples
Engineering Update
Kappes, Cassiday & Associates out of Reno, Nevada, continues to progress with the bankable Feasibility Study report for the Shahuindo Gold Project. Geotechnical and hydrological characterization studies on the project site are underway, and the Company continues baseline data collection for the Environmental Impact Assessment and mine permit data collection. Sulliden has awarded a contract to Golder and Associates to develop a geotechnical model of the Shahuindo deposit, which will assist in the optimization of the pit slope designs.
QUALITY CONTROL AND ASSURANCE
Stephane Amireault, P.Eng., Vice President Exploration for Sulliden is the Qualified Person responsible for the management of the exploration program and disclosure of the drill results as defined by National Instrument 43-101. Mr. Amireault has read and approved this news release.
The analyses for this drilling campaign were carried out by ALS Chemex in Lima, Peru and ALS Chemex in Reno, Nevada (for hole SHM10-118) exercising a thorough Quality Control and Assurance program (QA/QC). All ALS Chemex labs are ISO 9000 registered laboratories. All gold assays reported in the press release were obtained by standard 50g fire assaying with AA finish. All silver assays reported in the press release were obtained by Aqua-Regia dissolution followed by ICP-AES measurement.
ABOUT SULLIDEN
Sulliden is a Canadian-based mining company focused on the exploration and development of its wholly owned Shahuindo Gold Project, located in Peru. This project is located in one of the world's most prolific gold producing districts and is home to world-class gold mines including Barrick Gold's Lagunas Norte Mine, 30 km to the south, and the Yanacocha Mine operated by Newmont Mining Company, 80 km to the north; both million-ounce per year producing mines. A positive Preliminary Assessment for the Shahuindo Gold Project was completed in December 2009 and a Feasibility Study is currently underway. While the Company progresses towards its goal of reaching production in 2012, a significant focus is being placed on exploration drilling to expand the mineral resource, which remains open in all directions and at depth. Sulliden is led by a strong management team with the proven ability to develop, finance and operate mining projects and is poised to generate superior value for its shareholders.
On behalf of Sulliden Gold Corporation Ltd.
Peter Tagliamonte Stan Bharti
President and CEO Chairman
For further information on Sulliden please visit the company website at www.sulliden.com.
If you would like to be added to Sulliden's news distribution list, please send your email address to contact@sulliden.com.
Caution regarding forward-looking information:
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the effect of the appointment on the future financial or operating performance of the Company, the size and quality of the company's mineral resources, progress in development of mineral properties, future capital and operating expenses, capital and mine production costs, future metal prices and treatment and refining charges, the financial results of the company the future financial or operating performance of the Company, the prospective mineralization of the properties and planned exploration programs., the issue of permits, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, planned exploration programs, anticipated production schedule and terms and the availability and likelihood of future acquisitions. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; acquisition risks; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Contacts:
Sulliden Gold Corporation
Caroline Arsenault
Investor Relations Manager
(416) 861-5805
Sulliden Gold Corporation
Scott Moore
Vice President Corporate Development
(416) 861-5903
www.sulliden.com
Source: Marketwire (October 26, 2010 - 7:30 AM EDT)
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LC Luxuries Limited Prepares for Corporate Name Change to General Cannabis, Inc.
LC Luxuries Limited Prepares for Corporate Name Change to General Cannabis, Inc.
Oct. 26, 2010 (GlobeNewswire) --
COSTA MESA, Calif., Oct. 26, 2010 (GLOBE NEWSWIRE) -- LC Luxuries Limited (Pink Sheets:LLUX) (the "Company") today announced that it has commenced the process to change the Company name from LC Luxuries Limited to General Cannabis, Inc. The Company anticipates the name change to be completed by year end 2010.
James Pakulis, President of LC Luxuries Limited states: "We feel the name General Cannabis more clearly defines our involvement in the cannabis industry. General Cannabis encompasses the divisions that we have or anticipate rolling out such as internet, merchant, medical marketing or management."
About LC Luxuries Limited (Pink Sheets:LLUX)
LC Luxuries Limited (Pink Sheets:LLUX), a Nevada based company with headquarters in Newport Beach, California, continues to operate its historical merchant processing business that was started as a complement to its online makeup business. The Company is also pursuing complementary lines of business through its new subsidiary.
About U.S. Cannabis, Inc.
U.S. Cannabis, Inc., a wholly-owned subsidiary of LC Luxuries Limited, is committed to the management of medical clinics for the lawful diagnosis and treatment of patients that may derive benefit from medical marijuana treatments.
About The Equities Group, Inc.
The Global Online Investment Community ... The Equities Group, Inc. (herein "TEG") is a global financial media network which owns and operates our branded specialty divisions, such as www.equities.com and www.worldmarketmedia.com, and manages our strategic network partnerships. TEG is expanding our interlinking portfolio of web properties to create a social network that bridges the world's financial markets and investment communities. Collectively our sites provide a unique array of news and data on the world's capital markets and economies.
The TEG team provides interactive advertising, digital IR/PR, journalism, market intelligence, media/marketing, news dissemination, research, video production and ancillary specialty communications services to publicly traded companies worldwide.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). LC Luxuries Limited cautions that statements made in this news release relating to the change of control and new business direction constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. LC Luxuries Limited undertakes no obligation to revise these statements following the date of this news release.
CONTACT: LC Luxuries Limited
James Pakulis - President
1-866-347-5057
The Equities Group, Inc.
J. Ryan Whitten - Client Services
1-561-948-0330 x305
ryan@equities.com
Source: Globe Newswire (October 26, 2010 - 6:00 AM EDT)
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Genmab Announces Start of Ofatumumab Phase III Head to Head Study in Follicular Lymphoma
Genmab Announces Start of Ofatumumab Phase III Head to Head Study in Follicular Lymphoma
Oct. 26, 2010 (GlobeNewswire) --
COPENHAGEN, Denmark, Oct. 26, 2010 (GLOBE NEWSWIRE) -- Genmab announces the start of a Phase III head to head study of ofatumumab versus rituximab in follicular NHL.
Genmab A/S (Copenhagen:GEN) announced today the start of a Phase III study of single agent ofatumumab compared to single agent rituximab in patients with follicular non-Hodgkin's lymphoma (NHL) that has relapsed at least 6 months after completion of treatment with a rituximab-containing regimen to which they responded.
Approximately 516 patients in this open-label study will be randomized to receive ofatumumab (1000 mg) or rituximab (375 mg/m2) by intravenous infusion for four weekly doses. Patients who have stable or responsive disease will then receive single infusions of ofatumumab or rituximab every two months for four additional doses for a total of eight doses over nine months. The primary endpoint of the study is progression free survival.
About ofatumumab
Ofatumumab is a novel human monoclonal antibody. It targets a part of the CD20 molecule on B-cells encompassing an epitope on the small and large loops. Ofatumumab is not approved in any country for indolent B-cell non-Hodgkin's lymphoma (B-NHL).
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing fully human antibody therapeutics for the potential treatment of cancer. Genmab's world class discovery and development teams are using cutting-edge technology to create and develop products to address unmet medical needs. Our primary goal is to improve the lives of patients who are in urgent need of new treatment options. For more information on Genmab's products and technology, visit www.genmab.com.
Contact:
Helle Husted, Vice President, Investor Relations
T: +45 33 44 77 30, M: +45 25 27 47 13, E: h.husted@genmab.com
This Stock Exchange Release contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with product discovery and development, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. For a further discussion of these risks, please refer to the section "Risk Management" in Genmab's Annual Report, which is available on www.genmab.com. Genmab does not undertake any obligation to update or revise forward looking statements in this Stock Exchange Release nor to confirm such statements in relation to actual results, unless required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD20(R); HuMax-EGFr(TM); HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM); HuMax-CD38(TM); HuMax-TF(TM); HuMax-Her2(TM); HuMax-Wnt(TM); HuMax-cMet(TM) and UniBody(R) are all trademarks of Genmab A/S. Arzerra(R) is a trademark of GlaxoSmithKline.
Stock Exchange Release no. 43
Source: Globe Newswire (October 26, 2010 - 2:41 AM EDT)
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TIE Technologies Announces Commencement of Smart Levee Project
TIE Technologies Announces Commencement of Smart Levee Project
Disaster Monitoring System for New Orleans, Louisiana
Oct. 26, 2010 (GlobeNewswire) --
NEW YORK, Oct. 26, 2010 (GLOBE NEWSWIRE) -- TIE Technologies, Inc. (Pink Sheets:TTCS), who operates a portfolio of Homeland Security assets focused on natural and man caused disaster intervention, driven by proprietary smart logistics, telemetrics and advanced IT solutions, today announced that its Smart Environmental Logistics division has initiated work on the smart levee project for the State of Louisiana.
The pilot installation will monitor a one mile stretch of the levee that protects the city of New Orleans from a breach caused by natural or man caused disaster. The system will collect critical 'levee status data' from monitoring sensors installed throughout the flood control system. Real time information is transmitted via satellite uplink to an interactive data center to advise and warn of any potential problems or actual levee failure that could forerun catastrophic consequences.
"The Smart Levee System will provide the communications infrastructure necessary to prevent the unnecessary loss of life and property. TIE is focused on providing environmental disaster intervention and remediation solutions through our Smart Environmental Logistics division," Mark Marangella, Executive Vice President of TIE Technologies, Inc., commented. "We look forward to not only the success of this initial project, but also the support and focus of the U.S. Army Corps of Engineers to address the requirement for providing a smart solution at a national level which consists of over 4000 miles of critical levees." Mr. Marangella went on to say, "We anticipate the smart levee project and the smart environmental logistics product line will potentially create sales ramping up from $500 thousand in the fiscal year ended June 2011, to $6 million in 2012 and 15 million in 2013 fiscal year."
ABOUT SMART ENVIRONMENTAL LOGISTICS
Smart Environmental Logistics (SEL) is a single source engineering and technology company that offers products and services, coupled with technology, to meet the challenges its clients face. From catastrophic oil spills to monitoring structural integrity in critical infrastructures, SEL responds and delivers "Smart" solutions that leverage technology. The development of the Oil Dam for the U.S. Coast Guard and local communities in response to the Deep Water Horizon oil spill is an example of the type of solutions SEL can design and deliver.
ABOUT TIE TECHNOLOGIES, INC.
TIE Technologies is a diverse holding company specializing in science and technology driven companies. Their portfolio of companies are focused on proprietary smart logistics for Homeland Security, environmental and disaster remediation, telemetrics, and advanced IT solutions, TIE Technologies is traded on Pink Sheets under the symbol "TTCS." For additional information, please visit www.tietechnologies.com.
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
CONTACT: TIE Technologies, Inc.
Investor Relations Contact
212-334-3020
investor.relations@tietechnologies.com
Source: Globe Newswire (October 26, 2010 - 1:01 AM EDT)
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AltiGen to Feature New Unified Mobile Convergence Solution at BroadSoft Connections
AltiGen to Feature New Unified Mobile Convergence Solution at BroadSoft Connections
Oct. 25, 2010 (Marketwire) --
SAN JOSE, CA -- (Marketwire) -- 10/25/10 -- AltiGen Communications, Inc. (OTCQX: ATGN) (PINKSHEETS: ATGN), the leading provider of software-based Unified Communications solutions, today announced it will be showcasing its new Unified Mobile Convergence solutions at BroadSoft Connections 2010: IGNITE PROGRESS. The event is being held at the Arizona Biltmore in Phoenix, AZ October 24-27, 2010.
At the eighth annual users' conference, BroadSoft Connections, some of the most innovative thinkers in the telecommunications industry will come together to collaborate and ensure our industry is executing successful business plans that move the telecommunications industry forward. Much of the discussion and product demonstrations will focus on the growth of Unified Communications.
At the event AltiGen will be showcasing its new MaxMobile Unified Mobile Communications (UMC) suite, a next generation mobile convergence solution for fixed line and mobile network service providers. The MaxMobile UMC suite, which integrates the smartphone as the single converged unified communications device, uniquely enables telecommunication service providers to address the mobile business communications requirements of SMBs through large enterprise customers. Developed as an all software solution, MaxMobile is a native application for iPhone, Android, BlackBerry and (in 2Q11) Windows Phone 7 smartphone devices.
"By unifying all business communications on smartphone devices, MaxMobile improves employee productivity while eliminating the need for expensive proprietary desktop phones," said Niel Levonius, AltiGen's Director of Corporate Strategy. "Telecommunication service providers are now able to drive new service plan revenue by leveraging the rapid proliferation of smartphones in business."
About AltiGen Communications, Inc.
AltiGen Communications, Inc. (OTCQX: ATGN) (PINKSHEETS: ATGN) is a leading provider of software-based Unified Communications solutions. AltiGen solutions are built on scalable, open standards platforms, designed for high reliability, ease of use, and seamless integration to existing communications infrastructure technologies. AltiGen's worldwide headquarters is in Silicon Valley, California, with international operations based in Shanghai, China. Local sales, service and support are provided by AltiGen's worldwide network of over 200 certified partners. For more information, call 1-888-ALTIGEN or visit the web site at www.altigen.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding the continued market acceptance of our software-based Unified Communications solutions, the successful introduction of our next generation MaxMobile UMC suite, which integrates the smartphone as the single converged unified communications device, and uniquely enables telecommunication service providers to address the mobile business communications requirements of SMBs through large enterprise customers, and our ability to implement as an all software solution using MaxMobile which has been designed as a native application for iPhone, Android, BlackBerry and (in 2Q11) Windows Phone 7 smartphones, by unifying all business communications on smartphone devices, MaxMobile improves employee productivity while eliminating the need for expensive proprietary desktop phones. These statements reflect management's current expectation. However, actual results could differ materially as a result of unknown risks and uncertainties, including but not limited to, risks related to AltiGen's limited operating history. For a more detailed description of these and other risks and uncertainties affecting AltiGen's performance, please refer to AltiGen's Annual Report on Form 10-K for the fiscal year ended September 30, 2009 and all subsequent current reports on Form 8-K and quarterly reports on Form 10-Q. All forward-looking statements in this press release are based on information available to AltiGen as of the date hereof and AltiGen assumes no obligation to update these forward-looking statements.
Source: Marketwire (October 25, 2010 - 5:00 PM EDT)
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Abington Resources Ltd.: Rock Sample Results in Line with Historic Data on Treasure King
Abington Resources Ltd.: Rock Sample Results in Line with Historic Data on Treasure King
VANCOUVER, BRITISH COLUMBIA, Oct. 25, 2010 (Marketwire) -- Abington Resources Ltd. (TSX VENTURE:ABL)(PINK SHEETS:ABIZF) is pleased to announce the results of the Orientation Survey rock sampling on our Treasure King gold property 65 miles north of Phoenix, Arizona. Abington is attempting to confirm and corroborate the existence of the mineralization and geochemical anomalies generated by REDCO and Royal Gold that led to the permitting for an open-pit heap leach operation in the late 1980's.
Previous lithogeochemical sample programs delineated the Main Shaft Target Area and the South shaft Target Area (Nielson, 1990). Nielson indicates that the gold mineralized samples are associated with quartz-veined iron formation in both areas with some samples exceeding 1.0 ppm gold.
Abington's survey included the collection of sixty-one lithogeochemical samples from Proterozoic metavolcanic rocks and cherts +/- white quartz veins throughout Abington's 40-claim block. This preliminary study indicates that the Proterozoic hydrothermal system(s) are gold-dominant with minor anomalous base metals. The Treasure King pyritic chert with white quartz veining that hosts the gold mineralization contains 1 to 2 ppm gold. The quartz-sericite altered metarhyolites and quartz porphyry to the east of the chert contain anomalous gold up to 168 ppb.
Locally, up to 50 feet of Quaternary gravels and Quaternary alluvium cover the Proterozoic rocks. Most samples are from outcrops and were chip-channel sampled over five foot lengths.
ASSAY RESULTS AND SELECT SAMPLE LOCATIONS
Samples were in the care of and shipped by our professional geologist to Skyline Assayers and Laboratories of Tucson, Arizona, an accredited laboratory with the recognized International Standard ISO/IEC 17025-2005. Gold was analyzed by Fire Assay with an Atomic Absorption finish. Trace element geochemistry (49 elements) was performed via Aqua Regia leach and analyzed by ICP/MS.
Of the sixty-one rock samples, twenty samples returned values greater than 10 ppb gold, including four samples over 1,000 ppb gold. The highest value obtained was 2,196 ppb gold.
Sample E-800 (2,196 ppb gold) and Sample E-801 (1,016 ppb gold) were taken from the North Shaft area. This was the initial target area of Royal Gold and REDCO. It is approximately one mile north of the South Shaft area which was their secondary area of interest.
Sample E-792 (1,504 ppb gold) was collected from a chert one-hundred meters west of the sample collected by Royal Gold named the East Main Shaft Target. This is located close to halfway between the North and South Shaft areas.
Sample E-784 (1,200 ppb gold) was collected from a chert near the western boundary of the claim block approximately 1/4 of a mile WSW of sample E792. It lies at the northern end of a zone of weakly anomalous copper and gold. This mineralized horizon was previously unrecognized, although Royal Gold collected three samples, including one with 248 ppb gold at the south end of its currently known extension.
At the South Shaft area approximately 1/3 of a mile south of the East Main Shaft Target, Sample E-753 (527 ppb gold) was collected from a chert and quartz-veined outcrop exposed north of the shaft. This confirms the existence of mineralization as indicated by Royal Gold. This chert horizon is about seven hundred meters (0.43 miles) long and was sporadically sampled by Royal Gold along its length.
The Main Shaft area indicated as a target by Royal Gold, contained 230 to 528 ppb gold in their three samples collected on the ridge top above and north of the shaft. Their samples (less than 5 to 48 ppb gold) were collected in the vicinity of the shaft-adit lower on the slope at the south end of the ridge. Abington Samples E-794 and 797 through 799 ranged from 6 to 52 ppb, which is approximately the same as Royal Gold's results lower on the slope.
The North Shaft, East Main Shaft area, the anomalous copper/gold zone, the South Shaft, and Main Shaft areas (particularly the ridge top) are all potential target areas and will be sampled in greater detail to determine if drill targets exist along the mineralized trends.
This survey was headed by a professional geologist who, since 1980, has continued field-based studies and used applied geochemical techniques exploring for volcanogenic massive sulfide deposits in the Proterozoic rocks of central Arizona - the general area of the Treasure King. The above mentioned historical Royal Gold assays were referenced from an October, 1991 geochemical summary map generated by Royal Gold, Inc.
Additional Orientation Survey results will be issued shortly.
Abington announces it has dropped its claims in Ontario, Canada after being unable to secure a suitable package of nearby properties for potential joint venture. No work was performed on these claims.
The technical portion of this release has been reviewed by Qualified Person Laurence Sookochoff, P.Eng.
ABINGTON RESOURCES LTD. is engaged in the acquisition, exploration, development and production of precious metals and natural resources. The Company has no debt (other than short-term payables) and derives an income from oil wells in Western Canada.
ON BEHALF OF THE BOARD
Walter Brenner, Director, President & Chief Executive Officer
The forgoing is for informational purposes only, and is not to be construed as an offer to buy or sell securities in any jurisdiction. It may contain forward-looking statements. While the data compiled by management is from sources deemed to be reliable, actual future results may vary materially. Abington Resources Ltd. does not assume the obligation to update any forward-looking statement and will not be responsible for any loss arising from the use of this information. Historically reported results are from professional consultants working for Royal Gold, REDCO and Conoco and may not be NI 43-101 compliant. Caution should be used in relying on such information. Abington is currently working to duplicate their results. We seek safe harbor.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Abington Resources Ltd. 604-683-6657 info@abingtonresources.com www.abingtonresources.com
Source: Marketwire Canada (October 25, 2010 - 3:17 PM EDT)
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Sola Announces Private Placement
Sola Announces Private Placement
VANCOUVER, BRITISH COLUMBIA, Oct. 25, 2010 (Marketwire) -- Sola Resource Corp. (TSX VENTURE:SL) (PINK SHEETS:SORSF) (the "Company") is pleased to announce that it will immediately commence a Non-Brokered Private Placement to a maximum of $750,000.
The Private Placement will be priced at $0.05 per Common Share as allowed under the TSX Venture Exchange Policy. This placement, if fully subscribed, will yield 15,000,000 Common Shares.
This Private Placement could be subject to finders' fees which will be paid in accordance with the TSX Venture Exchange policies and is subject to the approval of the regulatory authorities.
The funding proceeds will be used for the continuation of the due diligence, and the corporate and operational review of Amazon Resources Limited, ("Amazon"), to which Sola has proposed to initially acquire 30% of Amazon by way of an Offer to its Shareholders, as well as general working capital for the Company.
For Reference:
Sola is a junior exploration company with assets in Canada and Brazil. The Company has primarily focused on diamond, gold and base metal resource properties since inception. All available resource reports and information on the Company's properties are located on the Company website.
Issued on behalf of the Board of Directors of Sola Resource Corp.
William (Bill) Pfaffenberger, Director
The information in this news release may contain 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. When used in this release, words such as "estimate", "expect", "anticipate" and "believe" as well as similar expressions are intended to identify forward-looking statements. Such statements are used to describe management's future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date the statements were made. The Company does not update forward-looking statements continually as conditions change. We seek safe harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release.
Sola Resource Corp. sola.ir@solaresourcecorp.com www.solaresourcecorp.com
Source: Marketwire Canada (October 25, 2010 - 2:30 PM EDT)
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Yasheng Subsidiary Xiaheqing Becomes the Largest Hops Producer in China
Yasheng Subsidiary Xiaheqing Becomes the Largest Hops Producer in China
Oct. 25, 2010 (Marketwire) --
REDWOOD CITY, CA -- (Marketwire) -- 10/25/10 -- Yasheng Group (OTCQB: YHGG), a high-growth diversified China-based agricultural company with US headquarters in California, today announced that its subsidiary Xiaheqing Group has become the largest hops producer in China. With close to 40 years of experience of hops cultivation, Xiaheqing has taken the lead in 2010 and broken the national record with an output of 2.325 tons per acre.
Chairman Zhou Changsheng commented: "On August 6th Xiaheqing Group had the pleasure to host the first annual China Hops Festival in Jiuquan. It was attended by the leadership of the China Hops Association and by representatives from the National Breweries. Tsingtao, Beijing Yanjing, Huarun, and other major breweries participated in forum discussions about the development of the hops industry in China and internationally. Attendees also analyzed current market trends and strategies for further development of the hops industry in the Jiuquan region where Xiaheqing is located. We are pleased to report that all parties agreed to enhance cooperation to accelerate growth in the beer industry to meet the growing domestic demand for beer. This cooperation strengthens our supply chain and positions Xiaheqing for further continued expansion."
According to the 2010 USDA GAIN Report "China Beer Market," China's beer industry is the largest in the world by production volume. In 2009, China's beer production increased by almost five percent to 43 billion liters from 41 billion liters in previous year. From 2006 through 2009 beer consumption increased by 10% annually.
Geologically the Jiuquan area where Xiaheqing is located is recognized as one of the best areas in the world for hops cultivation due to its long sunshine hours, large temperature differences between night and day, low humidity, and major evaporation, which creates an ideal climate. Xiaheqing hops are considered high quality hops and are popular among brewers in China, used, for example, by the Tsingtao brewery.
Yasheng Group
Yasheng Group (OTCQB: YHGG) (www.yashenggroup.com), founded over 30 years ago, is a US holding company that conducts primarily agricultural operations in the Northwest of China. Today it is one of China's leading producers and marketers with six major product segments including field crops, vegetables, fruit, specialty crops, hops, hemp, seeds, beef and poultry. Yasheng is a supplier of high-quality agricultural products to world-famous conglomerates such as McDonald's, KFC, Tsingtao Beer, and Pepsi. The company is lead by a highly qualified management team and it has total assets of approximately $1.7 billion, over 15,000 employees, and a history of strong sales and earnings growth.
Safe Harbor Statement
Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are discussed in the company's various filings with the Securities and Exchange Commission. The company assumes no obligation to update these forward-looking statements.
Contact:
Gene Marbach
212-508-9645
Email Contact
Daniela Viola
212-508-9676
Email Contact
Source: Marketwire (October 25, 2010 - 2:14 PM EDT)
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Global Finishing, Inc.: Announcement
Global Finishing, Inc.: Announcement
LAS VEGAS, NEVADA, Oct. 25, 2010 (Marketwire) -- Global Finishing, Inc (FRANKFURT:G8BA)(PINK SHEETS:GFML) is a non reporting publicly traded company on the Frankfurt Exchange and the Pinksheets under the respective symbols G8BA and GFML
Global Finishing Inc. through its wholly owned Ecuadorian subsidiary owns producing gold mines and is in the process to acquire additional gold producing assets.
Global Finishing, Inc. wishes to report it did sign an agreement with innocent, dated May 30, 2010 to proceed with a share exchange between the shares of Global Finishing, Inc. and Innocent. Inc., a publicly traded Over the Counter US Corporation.
However, as certain events did not occur the definitive agreement was never executed.
Global Finishing, Inc. advises it is pursuing other options for its Ecuadorian gold assets with other parties.
Global Finishing, Inc. do not own shares of and never received shares of Innocent, Inc.
We seek safe harbor
Global Finishing, Inc. President 418-527-3362
Source: Marketwire Canada (October 25, 2010 - 12:06 PM EDT)
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Advanced Content Services, Inc.'s MTP Ventures Launches Corporate Website
Advanced Content Services, Inc.'s MTP Ventures Launches Corporate Website
MTP Ventures Establishes Online HQ for Company Branding, Updates With Name Change Underway
Oct. 25, 2010 (GlobeNewswire) --
FORT WAYNE, Ind., Oct. 25, 2010 (GLOBE NEWSWIRE) -- Advanced Content Services (Pink Sheets:ADCS) CEO Mark B. Newbauer announces today that the company has launched its corporate website for MTP Ventures (www.mtpventures.com). The website features a clean interface with company overview, investor relations and contact information as well as a twitter feed, project descriptions and press release updates.
Advanced Content was acquired earlier this year and is currently undergoing an official name change with FINRA to establish the company's new moniker, MTP Ventures, in line with its business model and company operations. "We're pleased to finally be launching MTP Ventures full-force with the inception of the website," states Newbauer. "In addition to the website, our team has recently designed a logo to reflect the new direction for ADCS with MTP Ventures."
The company's current focus includes two very different projects: ServeNation and CopSwap. ServeNation is a revolutionary pre-paid, reloadable debit concept with an offer out to Jasmine Raja, an industry executive with a solid base of contacts, knowledge and experience in the field. Raja recently served as a key player in launching a successful prepaid concept in Europe for a major firm. CopSwap is a site in programming stages set to launch as a social networking site for sworn officers with a unique auction site like no other, including gear and federal firearms, licensed weapons and ammo sales.
As it states on its website, 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.
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, the 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 25, 2010 - 11:31 AM EDT)
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Prophecy Announces Amendment to $2,030,000 Private Placement
Prophecy Announces Amendment to $2,030,000 Private Placement
Oct. 25, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/25/10 -- Prophecy Resource Corp. ("Prophecy" or the "Company") (TSX VENTURE: PCY)(OTCQX: PRPCF)(FRANKFURT: 1P2) reports that, further to the Company's news release dated September 21, 2010, the Company has amended the terms of its previously announced non-brokered private placement.
The Company has arranged for the placement of 3,830,189 flow through units (each a "Unit") at a price of $0.53 per Unit to raise aggregate proceeds of $2,030,000. Each Unit is comprised of one flow through common share and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional common share for a period of two years at a price of $0.66.
A finder's fee of 5% of the proceeds raised payable in cash will be paid to Eurasia Capital and Frontier Securities.
Proceeds of the placement will be applied to the Company's Lynn Lake Property in Manitoba and the Wellgreen Property in Yukon Territory.
For more information about Prophecy, please contact Paul McKenzie at +1.604.642.2625 ext. 107 or John Lee at +1.800.851.1528.
About Prophecy
Prophecy Resource Corporation is an internationally diversified company engaged in developing energy, nickel and platinum group metals projects. The company controls over 1.4 billion tons of open-pittable thermal coal in Mongolia (839 Mt Measured, 579 Mt Indicated). In Canada Prophecy owns Lynn Lake Nickel Project, a 10% equity stake in Victory Nickel and agreed to merge with Northern Platinum (TSX VENTURE: NTH) on June 15, 2010. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS of Prophecy Resource Corp.
John Lee, Chairman
This news release does not constitute an offer to sell or a solicitation to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("the U.S. Securities Act") or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Contacts:
Prophecy Resource Corp.
John Lee
+1.604.642.2625 ext. 107
john@prophecyresource.com
www.prophecyresource.com
Source: Marketwire (October 25, 2010 - 11:26 AM EDT)
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BroadSoft Introduces BroadCloud
BroadSoft Introduces BroadCloud
Hosted Applications Delivery Platform Enables Telecommunications Service Providers to Offer Carrier Branded Unified Communications
Oct. 25, 2010 (Marketwire) --
GAITHERSBURG, MD -- (Marketwire) -- 10/25/10 -- BroadSoft, Inc. (NASDAQ: BSFT), the leading global provider of IP-based communications services to the telecommunications industry, today announced BroadCloud® -- a cloud-based, hosted infrastructure that will serve as the foundation for the company's growing Software-as-a-Service (SaaS) communications capabilities. BroadCloud will feature a comprehensive set of Unified Communications (UC) services, enabling carriers to offer enterprise customers a branded UC solution, as well as new online marketplace distribution options.
An Information Week Analytics 2010 Unified Communications Survey of enterprise technology professionals highlighted the specific UC services enterprises value most for meeting business objectives: unified messaging, instant messaging, presence, hosted contact center, mobile integration, web collaboration, videoconferencing and integration with business software. BroadSoft's BroadCloud services will empower fixed-line, mobile and cable service providers to extend their communications services to include these in-demand UC services.
As a robust cloud infrastructure application delivery platform, BroadCloud will include BroadSoft's current SaaS products, PacketSmart and, assuming the closing of the Casabi acquisition, Casabi's family services, as well as new Unified Communications services:
BroadCloud Instant Messaging & Presence -- corporate instant messaging and presence which fully integrates a subscriber's phone status (desktop and mobile),
BroadCloud Video -- a high-definition, always-on, meet-me videoconferencing service, which supports a wide range of room, desktop and soft client video enabled devices. BroadSoft expects to join Glowpoint (OTCQB: GLOW) to leverage their "Open Video" platform and Telepresence interExchange Network (TEN), to facilitate the delivery of video communications beyond a single enterprise
BroadCloud Web Collaboration -- a suite of web-based collaboration options, including screen sharing, a document library, chat, audio and video support and whiteboarding, accessible from a wide range of devices
BroadCloud PacketSmart -- a network assessment and monitoring service that ensures the highest quality of experience (QoE)
BroadCloud Casabi -- a consumer focused solution that enables the delivery of group SMS, personalized content and tools that help keep families organized
BroadCloud's infrastructure, which will be strengthened by the acquisition of Casabi, is expected to allow carriers to shrink time-to-market for delivering UC services from years to months or even weeks, and enable them to offer a comprehensive portfolio of UC services when combined with their existing BroadSoft application server platform.
"Rather than following the market and attempting to dictate which services should comprise a UC offering, we have focused our product development efforts on what services enterprises say they want," said Michael Tessler, CEO, BroadSoft. "With the addition of our BroadCloud hosted platform, we are offering a service delivery model that we believe accelerates time-to-market for our service provider customers, enables them to brand and customize a UC solution and allows them to quickly capitalize on the growing demand of these communications services."
Finally, BroadCloud enables BroadSoft to extend its online marketplace distribution platform, Xtended. In addition to a traditional direct sales model, service providers can offer their customers the option to access, purchase and start using their communications services within a carrier branded Marketplace, which we anticipate will enable rapid deployment of carrier-branded, hosted UC services.
"Another compelling capability of our BroadCloud platform is the ability for carriers to leverage the growing acceptance and adoption of app stores," added Leslie Ferry, vice president, marketing, BroadSoft. "We are enabling our service provider customers to complement their existing distribution channels for Unified Communication services with an online marketplace, which is a growing, preferred purchase option by end-users and offers higher service margins."
BroadSoft is demonstrating their BroadCloud services at its annual users' conference, BroadSoft Connections 2010: Ignite Progress October 24-27, 2010.
About BroadSoft:
BroadSoft (www.broadsoft.com) provides software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their IP-based networks. The Company's software, BroadWorks®, enables service providers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, video calling, unified communications, collaboration and converged mobile and fixed-line services.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by their use of terms and phrases such as "anticipate," "believe," "enable," "expect," "will," and other similar terms and phrases and include statements concerning the ability of the BroadCloud hosted platform to accelerate time-to-market for service provider customers to deliver UC services or to enable the rapid deployment of carrier-branded, hosted UC services, or the online marketplace being a growing, preferred purchase option offering higher service margins. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including the BroadCloud hosted platform's ability to accelerate a service provider customer's time-to-market or to result in the rapid deployment of hosted UC and the growth of the online marketplace and its ability to deliver higher service margins for service provider customers, as well as those factors contained in the "Risk Factors" section of BroadSoft's Form 10-Q for the quarter ended June 30, 2010 and in BroadSoft's other filings with the SEC. All information in this release is as of October 25, 2010. Except as required by law, BroadSoft undertakes no obligation to update publicly any forward-looking statement made herein for any reason to conform the statement to actual results or changes in its expectations.
Media Contacts:
Leslie Ferry
+1-240-364-9038
lferry@BroadSoft.com
Brian Lustig
+1-301-775-6203
brian@lustigcommunications.com
Alex Moorhouse
+44 (0) 207 751 4444
amoorhouse@miliberty.com
Source: Marketwire (October 25, 2010 - 11:15 AM EDT)
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Great Western Minerals Group Appoints General Manager to Great Western Technologies Inc.
Great Western Minerals Group Appoints General Manager to Great Western Technologies Inc.
Oct. 25, 2010 (Marketwire) --
SASKATOON, SASKATCHEWAN -- (Marketwire) -- 10/25/10 -- Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE: GWG) (OTCQX: GWMGF) announces the appointment of Kerry LaPierre as General Manager of Great Western Technologies Inc. ("GWTI") effective January 2011.
GWTI, located in Troy, Michigan, is a wholly-owned subsidiary of Great Western Minerals Group. As a leading production facility for vacuum induction melting and casting of alloys containing Rare Earths and other reactive metals, the GWTI plant has capability for heat treatment, hydrogenation and powder processing.
Prior to joining Great Western Technologies Inc., Mr. LaPierre, a graduate in Engineering Chemistry from State University of New York, gained extensive experience in management and special metal processing with Sulzer in Michigan.
"The appointment of Kerry LaPierre as General Manager at GWTI is another indication of our Company's commitment to strengthening its position as a leading global supplier of Rare Earth materials," said GWMG President and Chief Executive Officer Jim Engdahl. "Within our corporate goal of becoming a fully integrated Rare Earths producer, we have bolstered our position by adding Mr. LaPierre's significant technical management capability at our Michigan facility in order to fully capture the growth opportunities available to GWMG."
Over the past two years, GWMG Director David Kennedy has been responsible for both of the Company's Rare Earths processing plants - GWTI in Michigan and Less Common Metals ("LCM") in Birkenhead, U.K. where Dr. Ian Higgins is General Manager.
"The strategic addition of management talent, as we have done with the appointment of Mr. LaPierre, enables Great Western Minerals Group to proceed, according to plan, in becoming a fully integrated and globally recognized Rare Earths producer," stated Jim Engdahl.
Jim Engdahl, President
About Great Western Minerals Group Ltd.
Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 20.8% ownership in Rare Earth Extraction Co. Ltd, the owner of the Steenkampskraal mine. GWMG also holds interests in seven Rare Earth exploration and development properties in North America.
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to satisfaction of the conditions precedent with respect to GWMG's offtake agreement, receipt of all required approvals (including those relating to the commencement of production at the Steenkampskraal mine) and risks, uncertainties and other factors that are beyond the control of GWMG, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve or resource estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG's current annual information form available at www.sedar.com.
CUSIP: 39141Y 10 3
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Great Western Minerals Group Ltd.
Dwight Percy
Manager of Investor Relations
(306) 659-4500
info@gwmg.ca
www.gwmg.ca
Great Western Minerals Group Ltd.
219 Robin Crescent
Saskatoon, SK S7L 6M8
Source: Marketwire (October 25, 2010 - 9:30 AM EDT)
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Genmab Announces Reorganization Plan
Genmab Announces Reorganization Plan
Oct. 25, 2010 (GlobeNewswire) --
- Intent to reduce headcount by approximately 33 positions to match future workload
- Annualized savings of approximately DKK 30 million
- Development programs will not be affected
COPENHAGEN, Denmark, Oct. 25, 2010 (GLOBE NEWSWIRE) -- Genmab A/S (Copenhagen:GEN) announced today plans to reorganize its workforce as part of its strategy to build a profitable and successful biotech company. The company intends to reduce its staff by approximately 33 positions as a result of the reorganization. The annualized impact of the reorganization is estimated to yield savings of approximately DKK 30 million.
Genmab's corporate strategy is to employ a disciplined approach in maintaining an efficient operating model, while retaining core skills in-house. As a result
of this initiative, the restructuring of the ofatumumab agreement with GlaxoSmithKline, and the intent to partner zalutumumab, the workload for certain
employees will decline. This reorganization will more closely align headcount with future workload. In addition, the reorganization will contribute to
Genmab's plan to reduce operating expenses by 20% in 2011. No development programs will be discontinued as a result of this reorganization.
"I truly regret the need to reorganize our workforce especially given the tremendous efforts and loyalty displayed over the years by Genmab's employees. I would like to express my gratitude to all the employees who have contributed to Genmab's success," said Jan van de Winkel, Ph.D., Chief Executive Officer of
Genmab. "We must, however, continue to focus on Genmab's core competency of antibody creation, development and innovation. Today's reorganization is a key step in our commitment to our updated corporate strategy and our goal of becoming a profitable business."
This reorganization plan is not expected to have a material impact on Genmab's 2010 financial guidance, with an anticipated total cash impact of DKK 25
million, with DKK 7 million impacting 2010.
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing fully human antibody therapeutics for the potential treatment of cancer.
Genmab's world class discovery and development teams are using cutting-edge technology to create and develop products to address unmet medical needs. Our primary goal is to improve the lives of patients who are in urgent need of new treatment options. For more information on Genmab's products and technology,
visit www.genmab.com.
This Stock Exchange Release contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions
identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such
statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with
product discovery and development, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties
related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to
our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents
and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and
other factors. For a further discussion of these risks, please refer to the section "Risk Management" in Genmab's Annual Report, which is available on
www.genmab.com. Genmab does not undertake any obligation to update or revise forward looking statements in this Stock Exchange Release nor to confirm such statements in relation to actual results, unless required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD20(R); HuMax-EGFr(TM); HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM); HuMax-CD38(TM); HuMax-TF(TM); HuMax-Her2(TM); HuMax-Wnt(TM); HuMax-cMet(TM) and UniBody(R) are all trademarks of Genmab A/S. Arzerra(R) is a trademark of GlaxoSmithKline.
Stock Exchange Release no. 42
CONTACT: Genmab
Helle Husted, Vice President, Investor Relations
+45 33 44 77 30
M: +45 25 27 47 13
h.husted@genmab.com
Source: Globe Newswire (October 25, 2010 - 9:30 AM EDT)
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(NWMT) NewMarket Technology and the United Nations International Strategy for Disaster Reduction (UNISDR) Pilot Program Underway in Nairobi
(NWMT) NewMarket Technology and the United Nations International Strategy for Disaster Reduction (UNISDR) Pilot Program Underway in Nairobi
Oct. 25, 2010 (Marketwire) --
DALLAS, TX -- (Marketwire) -- 10/25/10 -- NewMarket Technology, Inc.'s (PINKSHEETS: NWMT) (OTCQB: NWMT) Greenfield Partnership Program released a Webcast presentation Friday that reviews a pilot program in partnership with the United Nations International Strategy for Disaster Reduction (UNISDR). The pilot program was kicked off today in Nairobi, Kenya. UNISDR has joined the NewMarket Greenfield program and the Small Equity Initiative in Nairobi this week on a Trade Mission intended to stimulate small business investment in high growth potential enterprises. The pilot program is intended to urge private sector innovation and investment aimed at reducing disaster risk.
To learn more about the Private Sector Disaster Reduction Pilot Program, click on the link: http://tinyurl.com/24o2jbb.
Greenfield Program Webcast
On Friday, NewMarket released a Greenfield Partnership Program Webcast reviewing the Company's operational and financial benefits since founding the program last year. The Webcast also reviews Greenfield program participant companies, the Trade Mission to East Africa currently underway and the recently announced pilot program for the United Nations International Strategy for Disaster Reduction (UNISDR). The Webcast also discusses the current state of small business capital formation in the U.S. and globally, the mission of the Greenfield program and the tentative Trade Mission program for 2011.
The Webcast is currently available for review at www.newmarkettechnology.com on the Investor Relations page titled 'NewMarket Technology Greenfield Program Webcast: United Nations Benchmark.'
About NewMarket Greenfield Partnership Program
NewMarket launched the Greenfield Program last year to facilitate the start-up and early stage development of high-growth potential businesses. The Greenfield Program concentrates on early stage, rapid growth opportunities in the world's emerging markets, with program participants in China, Southeast Asia, South and Central America and East Africa, in addition to a handful of program participants in North America.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket Technology is a global small business incubator. NewMarket's current portfolio of operations provides systems integration, technology infrastructure services and emerging technology. NewMarket's operations strategically focus on providing technology and support services in emerging and developing economies with high growth rate potential where technology purchasing is on the rise. In addition to its base of operations in North America, NewMarket has operations today in the growing economies of China, Southeast Asia, Africa, Brazil and Northern Latin America. Overall, NewMarket reported over $95 million in revenue for 2008 and reported over $98 million in profitable revenue for 2009.
NewMarket's operations provide services and support for both brand-name technologies, such as Microsoft, as well as emerging technologies ranging from mobile computing to various security and wireless broadband technologies. NewMarket's rapid growth since 2002 placed the Company on the Deloitte Technology Fast 500 for 5 consecutive years. NewMarket was recognized as the third fastest growing technology company in the United States in 2006 and the number one fastest growing technology company in North Texas for two years in a row.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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Contact:
NewMarket Technology, Inc.
Investor Relations
Email Contact
214-722-3065
Source: Marketwire (October 25, 2010 - 9:18 AM EDT)
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(NVAE) Savanna East Africa Anticipated Acquisitions and $10 Million 2011 Revenue Objective Featured in 'United Nations Benchmark' Webcast
(NVAE) Savanna East Africa Anticipated Acquisitions and $10 Million 2011 Revenue Objective Featured in 'United Nations Benchmark' Webcast
Oct. 25, 2010 (Marketwire) --
DALLAS, TX -- (Marketwire) -- 10/25/10 -- Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) today announced the Company's $10 million revenue objective for fiscal year 2011 and multiple anticipated acquisitions in East Africa have been featured in a Greenfield Partnership Program Webcast released Friday and currently available for review at www.savannaea.com titled 'NewMarket Greenfield Webcast: United Nations Benchmark.' Savanna East Africa's fiscal year runs from July 1st through June 30th.
Savanna East Africa has announced the Company anticipates finalizing three planned acquisitions in November, following the East Africa Trade Mission the Company is hosting in Nairobi, Kenya this week. The targeted acquisitions include Palm Healthcare International LTD and a confidential systems integration company, both located in Kenya, and the Kenyan business entity Savanna East Africa LTD. Savanna East Africa LTD was formed as a local Kenyan entity to facilitate acquisition and business development in East Africa.
The Webcast also reviews Greenfield program participant companies, the Trade Mission to East Africa currently underway and the recently announced pilot program for the United Nations International Strategy for Disaster Reduction (UNISDR). The Webcast discusses reasons for founding the Greenfield program and its accomplishments to-date, the current state of small business capital formation in the U.S. and globally, the mission of the Greenfield program and the tentative Trade Mission program for 2011. The Greenfield Program concentrates on early stage, rapid growth opportunities in the world's emerging markets, with program participants in China, Southeast Asia, South and Central America and East Africa, in addition to a handful of program participants in North America.
UNISDR and East African Trade Mission
The United Nations International Strategy for Disaster Reduction (UNISDR) has joined the Trade Mission currently underway in Nairobi, Kenya for a pilot program intended to urge private sector innovation and investment aimed at reducing disaster risk.
To learn more about the Private Sector Disaster Reduction Pilot Program announced recently, click on the link: http://tinyurl.com/24o2jbb.
Savanna East Africa Information and Email Newsletter
To learn more about Savanna East Africa and to sign up for company email alerts, please visit the corporate website at www.savannaea.com.
About Savanna East Africa, Inc. (www.savannaea.com)
Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) launched an updated corporate strategy early this year to pursue several business lines in the growing economy of East Africa, initially in Kenya. Savanna has already begun several initiatives in the region to include initiatives in the Technology, Utility, Housing and Health products industries. The Company is also continuing to grow its existing oil and gas reclamation business with new management and business strategies. Savanna East Africa is a fully-reporting company with audited financial statements quoted on the new 'OTCQB.'
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
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Contact:
Savanna East Africa, Inc.
Email Contact
214-722-3044
Source: Marketwire (October 25, 2010 - 9:01 AM EDT)
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American Bonanza Obtains Federal Permits for Copperstone Gold Mine
American Bonanza Obtains Federal Permits for Copperstone Gold Mine
VANCOUVER, BRITISH COLUMBIA, Oct. 25, 2010 (Marketwire) -- American Bonanza Gold Corp. (TSX:BZA)(PINK SHEETS:ABGFF)(FRANKFURT:AB2) ("Bonanza") is pleased to report that the United States Department of the Interior's Bureau of Land Management ("BLM") has issued the federal permits for mining at the 100% owned Copperstone gold mine in Arizona. The BLM's Decision Record is supported by the Proposed Reopening of the Copperstone Mine Environmental Assessment DOI-BLM-AZ-C020-2010-0015-EA (the "EA"), and the Finding of No Significant Impact (the "FONSI").
The FONSI determines that the Proposed Action (construction of the Copperstone gold mine) does not constitute a major Federal Action affecting the quality of the human environment and that an Environmental Impact Statement is unnecessary. The FONSI determines that the proposed action under the EA will assure that no significant adverse impact will occur to the human environment in terms of air quality, global warming, cultural resources, hazardous material, human health and public safety, lands and Realty management, mineral resource management, native American religious concerns, non-native invasive species, recreation, surface protection, visual resources, water quality - drinking and ground, wildlife, wild horse and burro management.
Work continues on permits required to be obtained from the Arizona Department of Environmental Quality ("ADEQ"), with the main outstanding permits being the Aquifer Protection Permit ("APP") and the Air Quality Permit ("AQP"). Preparation of the submissions for these two permits is nearly complete and expected to be complete during the fourth quarter, 2010, placing the APP and AQP on track for completion during the first quarter of 2011. Upon receipt of these permits, mining can commence at Copperstone.
Transportation of Bonanza's recently purchased milling and flotation/gravity plant and building, currently located in Calumet, Michigan, has commenced. Disassembly is complete, and components are being shipped to the Copperstone site and some components are being shipped to a facility in Arizona where refurbishing of some components will be conducted. Transportation of the equipment is expected to be complete during the fourth quarter of 2010.
Progress continues on the previously announced property sale to Balmoral Resources Ltd., with completion expected before the end of November. As previously announced, the aggregate value of this transaction to Bonanza is in excess of Cdn $7 million, a significant contribution to the capital expenditures planned at the Copperstone gold mine.
Discussions continue with mining contractors, and a favored contractor has been selected. Completion of negotiations is expected during the fourth quarter of 2010 or early 2011.
Copies of the Federal FONSI, the EA, the Decision Record, and the Copperstone Mine Plan of Operations along with photographs of the Copperstone milling, floatation and gravity plant during disassembly are available for review at www.americanbonanza.com.
About the Copperstone Gold Mine
The following highlights from the recent feasibility study entitled "NI 43-101 Technical Feasibility Report, Copperstone Project, La Paz County, Arizona" dated February 2, 2010 (the "Study") can be viewed on www.sedar.com and www.americanbonanza.com, as previously announced in Bonanza's news release dated February 3, 2010.
The Copperstone Gold Mine is estimated to produce on average 46,000 ounces of gold annually for the first 3 years, and have a capital investment payback period of only 13 months using a gold price of US$962 per ounce. The 2010 feasibility study details a total capital cost of US$17.7 million, including working capital, G&A startup, reclamation bonding, and contingencies. The feasibility study estimates the cash production cost to be US$415 per ounce of gold produced.
The After Tax Net Present Value ("AT-NPV") of the mine is US$51.3 million and the Internal Rate of Return ("IRR") is 96.3% in the base case using a future gold price estimate of $962 per ounce and a 5% discount rate. At recent gold prices ($1250 per ounce on www.kitco.com during inter-day trading on August 31, 2010) the AT-NPV is $84.9 million and a capital payback period of less than 6 months. The table below provides a range of economic results at various gold price assumptions.
Copperstone Economic Sensitivities at various Gold Prices:
--------------------------------------------------------------------------- Undiscounted Pre-Tax Net Present Value Gold Price IRR Cash Flow After-Tax (US$)Gold Price Case (US$/Oz) (%) (US$) (Discounted)---------------------------------------------------------------------------Low $ 850 74.3% $ 50,162,532 $ 37,194,541---------------------------------------------------------------------------Base Case $ 962 96.3% $ 74,169,910 $ 51,291,204---------------------------------------------------------------------------Recent $ 1250 145.1% $ 135,727,452 $ 84,874,376---------------------------------------------------------------------------High $ 1400 170.4% $ 167,814,296 $ 101,878,924---------------------------------------------------------------------------
The feasibility study results indicate a total of 256,430 ounces of gold can be mined from current known diluted Proven and Probable Mineral Reserves during the 6.3 year mine life at Copperstone. Note that all numbers may not add up to total due to rounding.
Technical information regarding the Copperstone project required to be disclosed under NI 43-101 can be found in the Study. Information regarding risks and uncertainties relating to the Copperstone project development can be found in Bonanza's annual information form, filed on SEDAR, and specific risks related to the results of the Study can be found in Bonanza's news release dated February 3, 2010, also available on SEDAR.
About Bonanza
Bonanza is working to re-activate mining at the preproduction-stage Copperstone gold mine in Arizona. Bonanza has 129 million shares outstanding, and has no debt. For more information please visit Bonanza's website at www.americanbonanza.com
AMERICAN BONANZA GOLD CORP.
Brian Kirwin, President & Chief Executive Officer
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although Bonanza believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in the price of gold, changes in the availability of funding for mineral exploration and/or development, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on Bonanza and the risks and challenges of its business, investors should review Bonanza's annual filing on Form 20-F with the U. S. Securities Commission and its home jurisdiction filings that are available at www.sedar.com.
American Bonanza Gold Corp. 1-877-688-7523 info@americanbonanza.com www.americanbonanza.com
Source: Marketwire Canada (October 25, 2010 - 8:32 AM EDT)
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Green Equity Holdings President to Be Interviewed on CEO Central Radio at 8 PM ET Tonight
Green Equity Holdings President to Be Interviewed on CEO Central Radio at 8 PM ET Tonight
Log on to StockTradersChat.com to Listen Live
Oct. 25, 2010 (Marketwire) --
DEERFIELD BEACH, FL -- (Marketwire) -- 10/25/10 -- Green Equity Holdings, Inc. (OTCQB: CXTO) (www.GreenEquityHoldings.com), which focuses on investing in novel technologies primarily in the clean energy sector, announced today that President Raimundo Dias will be a featured guest in an exclusive live interview tonight at 8:00 pm EDT. The interactive question and answer session can be accessed from the main online forum at http://stocktraderschat.com or at http://www.blogtalkradio.com/ceocentral. An archived recorded version also will be available at CEO Central at www.ceocentral.com, following the interview.
During the interview, Dias will discuss the Company's recently signed letter of intent (LOI) with Strategic Energy Supplies Corporation (SESC), a Florida-based clean energy solutions provider. The two companies plan to enter into a definitive agreement to jointly build and deploy brown grease feedstock recycling plants nationwide. Dias will discuss the merits of a proposed joint venture, including a potential, exclusive licensing agreement to market SESC's patent-pending Thermal Depolymerization2 grease trap waste technology. In addition, Dias plans to discuss the Company's overall acquisition and investment strategies within the environmental sector.
About CEO Central and STOCKTRADERSCHAT.com
CEO Central (http://ceocentral.com/) is a web resource portal for CEOs and market awareness professionals. All the ingredients to efficiently allow CEO's to make their jobs easier are available in one central location. We allow companies to tailor their strategic plans to their particular needs. There exists a vast array of services ranging from investor relations to virtual assistants, all at the CEO's disposal. Our goal is to provide a one stop shop for CEO's who need a service, with those who can effectively provide those services.
STOCKTRADERSCHAT.com (http://stocktraderschat.com/) is a state of the art portal combining investors with all the tools necessary to achieve sustained results in the markets today. We provide the most up to date analysis in a real-time environment that's interactive, educational, and informative. The main chat houses some of the most seasoned trading professionals who provide insight and remain accessible to our members.
About Green Equity Holdings, Inc.
Green Equity Holdings, Inc. discovers, invests and/or acquires development-stage, high-growth businesses with novel solutions, clean technologies and eco-friendly products that serve the global alternative energy sector. Incorporated in 2002 in the State of Nevada, GEH is majority owned by Fusion Capital Investments Corporation. For more information, please visit www.GreenEquityHoldings.com.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Contact:
Green Equity Holdings, Inc.
Raymond Dias
President
Office: 954-573-1709
Email Contact
CEO Central
Michael B. Johnson
Director of Marketing
Office: 352-794-6052
Cell: 352-586-2524
www.ceocentral.com
Source: Marketwire (October 25, 2010 - 8:30 AM EDT)
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Nortec Forms Coordination Committee With the National Mining Corporation of Ecuador (ENAMI EP)
Nortec Forms Coordination Committee With the National Mining Corporation of Ecuador (ENAMI EP)
VANCOUVER, BRITISH COLUMBIA, Oct. 25, 2010 (Marketwire) -- Nortec Minerals Corp. (TSX VENTURE:NVT)(PINK SHEETS:NMNZF)(FRANKFURT:WMQ) ("Nortec" or the "Company"), is pleased to announce that the Company has formed a Coordination Committee (the "Committee") with the National Mining Corporation of Ecuador ("ENAMI EP"). The Committee will review and evaluate technical, legal and economic data of mining projects in ENAMI EP's portfolio in Ecuador with a view to entering into future agreements to explore, develop and exploit such projects.
The creation of the Committee was jointly developed with ENAMI EP after well-received presentation meetings with the President of Ecuador and his cabinet (see news release March 29, 2010), including the Minister of Non-renewable Natural Resources, the Vice-minister for Mines and ENAMI EP. The Committee is comprised of three members from Nortec and three members from ENAMI EP. Once Nortec has identified mineral properties of interest, the Committee is to negotiate the final terms for formal agreements for the respective properties in accordance with the Ecuadorian Mining Law.
The formation of the Committee is the result of discussions and negotiations that began on June 11, 2010, when Nortec submitted a formal business proposal to the Ecuadorian government and General Manager of ENAMI, Mr. Jose Cisneros (see news release June 15, 2010). The proposal consisted of forming a participating association or a consortium with ENAMI EP and the Ministry of Non-renewable Natural Resources as part of its business model for exploration and development of mineral resource projects in Ecuador.
The Board of Directors of Nortec are very pleased to form the Committee with ENAMI EP, and the Company believes that this opportunity to work jointly with ENAMI EP and the Government of Ecuador will lead to the successful exploration, development and sharing of mineral resource interests in Ecuador in a socially responsible and ecologically conscious manner.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has an option to earn from Akkerman Exploration B.V., a 100% interest in the Seinajoki- Gold-Antimony Property and Kaatiala Rare Earth-Beryllium-Tin-Lithium Property in western Finland. Nortec has a 100% interest in the Tammela Lithium-Tin-Tantalum Project in south-west Finland; a 100% interest in the LK Palladium-Platinum-Gold-Copper-Nickel Project in north-central Finland, an option to earn 100% interest in the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; and, an option to acquire 51% interest in the Ganarin Gold-Silver Property, Ecuador.
On behalf of the Board of Directors,
NORTEC MINERALS CORP.
Mohan R. Vulimiri, Executive Chairman & CEO
This press release contains certain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws and are based on expectations as of the date of this release. Forward-looking statements include, without limitation, statements in respect of possible events, such as the success of entering into agreements with ENAMI EP and the success of exploration activities. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The assumptions of the Company contained in this release which may prove to be incorrect, include, but are not limited to, (1) the implementation of Ecuador's new mining law and related regulations and policies being consistent with the Company's current expectations; and (2) certain price assumptions for copper, lead, zinc, gold and silver. The words which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements.
Such factors include, but are not limited to: fluctuations in the spot and forward price of gold or certain other commodities; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, Ecuador or other countries in which the Company does business or may carry on business in the future; business opportunities that may be presented to, or pursued by, the Company; operating or technical difficulties in connection with mining activities; the speculative nature of gold exploration and development, including the risks of obtaining necessary licenses and permits; and contests over title to properties, particularly title to undeveloped properties. In addition, there are risks and hazards associated with the business of exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this release are qualified by these cautionary statements and those made in our other filings with the securities regulators in Canada. These factors are not intended to represent a complete list of the factors that could affect the Company. Although the Company believes that the expectations in the forward-looking statements are reasonable, actual results may vary, and future results, levels of activity, performance or achievements cannot be guaranteed.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
Nortec Minerals Corp. Executive Chairman & CEO +1 604-717-6426 +1 604-683-9649 (FAX) www.nortecminerals.com
Source: Marketwire Canada (October 25, 2010 - 8:02 AM EDT)
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