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Halo Financial Services, LLC Aligned With Debt Relief Industry Reform From Recent FTC Rule Change
Halo Financial Services, LLC Aligned With Debt Relief Industry Reform From Recent FTC Rule Change
Sep. 23, 2010 (GlobeNewswire) --
ALLEN, Texas, Sept. 23, 2010 (GLOBE NEWSWIRE) -- Halo Financial Services, LLC, a nationwide debt settlement company, announced today that it is aligned with the recent Federal Trade Commission (FTC) ruling that will incite major reform in the debt relief industry beginning later this month. "As a debt settlement company that operates on a performance-based fee model, we are already in full compliance with the new FTC ruling," said Cade Thompson, Chief Executive Officer of Halo Companies, Inc. "We have always been a consumer-oriented proponent of reform in the debt relief industry, so we are looking forward to seeing a decline in the unethical business practices that have pervaded the industry for so long."
Based on the ruling by the FTC, debt settlement companies are prohibited from charging and accepting fees before the consumer's debt has been settled. The ruling also requires debt settlement companies to inform the consumer how long the debt settlement program will last, what the total cost will be and what potential negative effects may arise from the settlement.
Since its inception in January 2009, Halo Financial Services has helped clients successfully negotiate credit card and various unsecured debts while operating on a performance-based fee model. "Under the model, Halo Financial Services will be able to operate in up to 45 states, allowing us to serve more customers and continue to set the highest standards in the industry," said Thompson. "While the capital structure requirements of a no-advanced-fee model will be a challenging transition for many companies to make, bringing reform to this industry will create a more secure environment for the consumer."
Halo Financial Services provides a unique, holistic approach towards solving consumers' financial difficulties. Proprietary technology created in-house allows Halo to provide a thorough financial analysis that results in solutions tailored to each consumer.
Halo Companies, Inc. is no stranger to involvement in the debt industry reform, serving as invited testimony at interim hearings held by both the Texas House of Representatives and the Texas Senate earlier this year. "As a publicly-traded company, transparency is a prerequisite in all of our operations," said Jeffrey Rasco, Vice President of Government Relations and Compliance of Halo Companies, Inc. "We are a strong advocate of industry reform and continue to be actively involved in helping craft appropriate legislation at the state and federal level."
The need to establish standards within the debt settlement industry to protect consumers from engaging a disreputable firm is paramount. Looking ahead beyond the implementation of the new FTC rule, Halo Financial Services expects to see the number of unethical players in the industry decrease, allowing debt settlement to solidify its place as a viable and credible alternative to bankruptcy.
Consumers interested in learning more about debt relief options can visit HelpMeHalo.com for a free consultation from a Certified Debt Specialist.
About Halo Financial Services, LLC
Halo Financial Services, LLC is an industry leader for debt settlement services with custom-tailored programs designed to help consumers settle and pay off their unsecured debt. Halo Financial Services is a wholly-owned subsidiary of Halo Companies, Inc. (OTCQB:HALN). Halo Financial Services is ISO 9001:2008 certified and its negotiators are certified by the International Association of Professional Debt Arbitrators (IAPDA). For more information about Halo Financial Services, visit www.HelpMeHalo.com
About Halo Companies, Inc.
Halo Companies, Inc. (OTCQB:HALN) is a publicly-traded nationwide holding company located in Allen, TX. Halo operates primarily in the consumer financial services industry including debt, mortgage, real estate, credit, loan modification, and insurance. Halo has been recently recognized by Inc. Magazine, Comerica Bank's Collin 60, Capital One Bank Celebration of Enterprise, and the SMU Cox School of Business Dallas 100. For more information about Halo Companies, Inc., visit www.haloco.com.
Cautionary Language Concerning Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in Halo Companies' filings with the Securities and Exchange Commission. Halo Companies, Inc. disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.
CONTACT: Halo Companies, Inc.
Public Relations:
Meredith Recer, Brand Manager
214-644-0065
mrecer@haloco.com
Investor Relations:
Reif Chron, General Counsel
214-644-0065
rchron@haloco.com
Source: Globe Newswire (September 23, 2010 - 6:02 AM EDT)
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Leeward Group Expands Executive Team
Leeward Group Expands Executive Team
Sep. 23, 2010 (Marketwire) --
PENNINGTON, NJ -- (Marketwire) -- 09/23/10 -- Leeward Group Holdings Inc. (OTCBB: PCPZ) announced today that Mr. Brian Breton, CIC, has been appointed Executive Vice President for its Flagship Insurance Agency subsidiary. Mr. Breton has extensive experience in the industry and will lead the sales initiative for the Company's New England region. Flagship Insurance Agency is a wholly owned subsidiary of Leeward Group, and Flagship is the largest insurance agency in the Leeward Group.
According to Bill Cleave, President of Flagship Insurance Agency, "Mr. Breton has been our leading insurance sales person for quite some time. He has over 20 years of insurance industry experience and we anticipate that he will continue to do great things for our Company. We congratulate him on this well-earned promotion."
Leeward Group Holdings Inc., through its wholly owned subsidiaries, operates a full-service insurance agency and consulting firm serving businesses and individuals throughout the Northeastern United States.
The Company is based in Pennington, New Jersey and it has five retail locations. Three of the locations are in New England while the other two are in the Mid-Atlantic. With licenses in all 50 States, the Company offers Property & Casualty, Life & Health and specialty insurance programs for business, individuals, associations and groups throughout the United States.
Forward-looking statements:
This press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to: that Mr. Breton will be successful in his new position. The user should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. The risk factors listed in our disclosure documents provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by the Company in its forward-looking statements. Actual results relating to, among other things, reserves, results of exploration, capital costs and production costs could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: changes in anticipated acquisition and operating costs; changes in economic conditions and conditions in the insurance industry and other financial markets; changes in the interest rates on borrowings; hedging activities; changes in the prices for services that the Company provides; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which the Company operates; technological, mechanical and operational difficulties encountered in connection with the Company's activities; and labour relation matters and costs. The user should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by the Company from time to time with the Securities and Exchange Commission and other regulatory authorities.
Leeward Group Holdings Inc.
www.leewardgroup.com
(609) 216 7957
Source: Marketwire (September 23, 2010 - 6:30 AM EDT)
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CHDT Corporation to Present at the Undiscovered Equities Fall Conference
CHDT Corporation to Present at the Undiscovered Equities Fall Conference
Sep. 23, 2010 (Marketwire) --
DEERFIELD BEACH, FL -- (Marketwire) -- 09/23/10 -- CHDT Corporation (OTCBB: CHDO), a management company with operating subsidiaries, focused on designing and manufacturing consumer products for the North American retail market, announced today that its Chairman, Howard Ullman, will present at the 2010 Undiscovered Equities Fall Conference. The three day conference titled, "Discover Tomorrow's Billion Dollar Company... Today" will feature 18 undiscovered companies and will be held at various locations throughout Palm Beach County on October 5, 6, and 7, 2010. The conference is expected to provide CHDT Corporation an opportunity to present and network with more than 300 investors, investment bankers and fund managers. The Company has not participated in investor conferences over the past year and management now feels the time is right to unveil CHDT as one of the best kept secrets on the bulletin board today.
The Company's principal presenter will be Chairman Howard Ullman, who will discuss the Company's current product lines as well as the future outlook for 2010 and 2011. CHDT successfully launched new products and increased distribution into numerous new retailers over the past two quarters resulting in increased sales and inching the company closer to profitability. The conference schedule can be viewed at www.undiscoveredequities.com.
"We are delighted to have exciting companies such as CHDT Corporation present at this important event," said Kevin McKnight, CEO, Undiscovered Equities. "This event is anticipated to be well attended by individual and institutional investors from around the world looking for under-the-radar investment opportunities such as CHDT Corporation."
CHDT Corporation is one of the fast growing consumer products manufacturers with innovative products, catering to top tier retailers, book retailers, mass merchants, office supply, specialty retailers, catalog and online retailers and warehouse clubs. "The Company has expanded its product lines and distribution channels over the past year and I'm excited to have the opportunity to reach out to the investment community to tell our story," said Howard Ullman, Chairman of CHDT Corporation.
About Capstone Industries, Inc.
For more than a decade, the South Florida-based Company Capstone Industries has specialized in the design, production, and distribution of consumer products as a supplier to major retail operations throughout the USA. Capstone Industries is committed to the development and distribution of unique and inventive products to a variety of channels including bookstore chains, convenience stores, drug & grocery, electronics, hardware, home improvement, internet, mail order, mass market, office supply, specialty and warehouse clubs.
About CHDT Corporation
CHDT Corporation (www.chdtcorp.com) is a public holding Company that engages, through its wholly owned subsidiaries, in the development, manufacturing, logistics, and distribution of consumer products to retailers and wholesalers throughout North America. See www.chdtcorp.com for more information about the Company and also www.capstoneindustries.com for information on our current product offerings. Reference of URLs in this press release does not incorporate said URLs or any of their contents in this press release.
FORWARD-LOOKING STATEMENTS: This press release, including the financial information that follows, contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. These statements are based on the Company's and its subsidiaries' current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. CHDT undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this press release and risks associated with any investment in CHDT, which is a small business concern and a "penny stock Company" and, as such, a highly risky investment suitable for only those who can afford to lose such investment, should be evaluated together with the many uncertainties that affect CHDT's business, particularly those mentioned in the cautionary statements in current and future CHDT's SEC Filings.
Source: Marketwire (September 23, 2010 - 7:00 AM EDT)
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CentraCan, Inc. Announces Sysco Guest Supply, LLC to Distribute PerfPower(TM) Go-Green(TM) Alkaline Batteries
CentraCan, Inc. Announces Sysco Guest Supply, LLC to Distribute PerfPower(TM) Go-Green(TM) Alkaline Batteries
Sep. 23, 2010 (Marketwire) --
ORLANDO, FL -- (Marketwire) -- 09/23/10 -- CentraCan, Inc. (OTCBB: CTCJ), a sustainable energy solutions company, has announced that its wholly-owned subsidiary, PerfPower Corporation, has added distributor Sysco Guest Supply, LLC., a Sysco (NYSE: SYY) company, to its growing list of wholesale and B2B distributors. Guest Supply has been in the distribution business for 31 years servicing over 26,000 hotels throughout the United States.
PerfPower™ Go-Green™ alkaline battery line includes AA, AAA, C, D and 9-volt batteries for consumer and commercial use. PerfPower™ batteries are manufactured using recycled materials and contain no lead, mercury or cadmium. The batteries come with a free recycling initiative which allows a consumer to return used PerfPower™ batteries to a designated recycling facility at the Company's expense. The recycling program has been put in place to help prevent the improper disposal of PerfPower™ batteries. To facilitate return of used batteries, the Company has entered into a partnership with the United States Postal Service using their Priority Mail Flat Rate Boxes program and pre-paid labels supplied by the Company. Access to the recycling initiative is through the Company's web site www.iRecycled.com. In addition, a portion of the proceeds from each battery pack sold goes to Autism Speaks™, a non-profit organization dedicated to finding a cure to Autism and bringing hope to all who deal with the hardships of this disorder.
"We are excited to be teaming up with such a well known distributor," said Boris Rubizhevsky, Chairman and CEO of CentraCan Inc. and PerfPower Corporation. "Guest Supply has a strong corporate vision of being the best in its class that our company stands behind as well."
"Adding the PerfPower™ Go-Green™ batteries to our product line is consistent with Sysco Guest Supply's continuing goal of utilizing environmentally positive practices, materials, and products in all aspects of our business," said Cliff Stanley, President of Sysco Guest Supply.
About Sysco Guest Supply
Founded in 1979, Sysco Guest Supply is recognized as a leader in the lodging and hospitality supply industry. They have based their business on providing hotels with all of the products they need to provide a positive experience for their guests.
For more information about Guest Supply please visit www.guestsupply.com.
About PerfPower Corporation
PerfPower Corporation is a technology company that offers sustainable solutions to its commercial and retail customers with a new generation of sustainable electronic products. Initial products offered by the Company consist of recyclable alkaline batteries.
The "green" or sustainable technology industry is one of the fastest growing business segments in the world. The current growth rates show that there is a strong demand for sustainable technologies, products and services. The company web site is www.perfpower.com.
About CentraCan, Inc.
CentraCan, Inc. is a holding company based in Orlando, Florida which has subsidiaries or joint venture interests providing eco-conscious products for consumer and commercial use, including alkaline batteries made from recycled materials which are sold with a free recycling initiative and advanced commercial lighting products for government and commercial use.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risk that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in CentraCan Incorporated's most recently filed Form 10-K and Form 10-Q reports. The forward looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. CentraCan Incorporated assumes no obligation to update the statements contained in this release except as required by applicable securities disclosure rules.
Investor Contact:
ir@ecoreadynow.com
407-571-6846
Source: Marketwire (September 23, 2010 - 7:00 AM EDT)
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ProtoKinetix in Partnership Discussions with Diabetes Specific Foundations and Research Organizations
ProtoKinetix in Partnership Discussions with Diabetes Specific Foundations and Research Organizations
Sep. 23, 2010 (Business Wire) -- ProtoKinetix Inc. (PKTX), over the last several weeks, has been in discussions with several diabetes specific organizations with a view to testing in 2-key areas in the treatment of diabetes. The company believes that AAGP™ will play a key role in potential treatment for Type 1 and Type 2 Diabetes.
Previous independently conducted in-vivo testing clearly demonstrated the importance of AAGP™ in islet cell transplantation. With recent developments from a variety of stem cell companies, the differentiation of stem cells into islets is, today, a reality. This success helps to overcome the limitations inherent in islet cell transplantations including the severe shortage of donor pancreases and the necessity for anti-rejection drugs when foreign islet cells are transplanted into recipients.
Both of these limitations have the potential to be eliminated with the development of successful differentiation of patient’s own stem cells. Testing to date has shown that the success of the transplant is dramatically improved by the addition of AAGP™ to the transplanted islet cells.
Type 1 Diabetes (Juvenile or early onset) is an auto-immune disease in which the insulin producing beta cells (islets) are destroyed by antibodies over time. Over the past few years, ProtoKinetix has tested a large variety of human cell lines under a wide range of hostile conditions. In every case, the cell lines that were treated with AAGP™ benefited from a significant extension of viable cell life.
The Company believes that AAGP™ has demonstrated the ability to provide a powerful layer of protection against the hostility of these auto-immune antibodies. Any postponement of the clinical symptoms of diabetes provides a major health benefit for diabetics. There is a strong potential for this molecule to play a pivotal part in the effective treatment of diabetes.
About ProtoKinetix
ProtoKinetix, Inc. is a biotechnology company that has developed and patented a family of synthetic anti-aging glycopeptides (AAGP™) for medicine and the biotechnology and cosmetic industries. PKTX is currently in dialogue with major corporations and institutions who have contacted the company about the broad range of applications for AAGP™ products.
For more detailed information, please visit our website at: www.protokinetix.com
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Some information included in this press release contains statements that are forward-looking. Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and, accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company’s filings with the Securities and Exchange Commission.
Ross L. Senior – President and CEO
Company Office:
Suite #1500 ProtoKinetix Inc.
2225 Folkestone Way
West Vancouver, BC V7S 2Y6
ProtoKinetix Inc.
Ross L. Senior, 604-926-6627
President and CEO
Source: Business Wire (September 23, 2010 - 7:00 AM EDT)
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Aradigm Announces Exercise of Warrants for Proceeds of Approximately $891,000
Aradigm Announces Exercise of Warrants for Proceeds of Approximately $891,000
All Warrants Issued in June 2010 Private Placement Are Exercised
Sep. 23, 2010 (Business Wire) -- Aradigm Corporation (OTCBB:ARDM) (the “Company”) today announced that it has received proceeds of approximately $891,000 from the exercise of all of the warrants to purchase an aggregate of 7,527,214 shares of the Company’s common stock that were issued in the private placement that closed on June 21, 2010.
The warrants became exercisable following the Special Meeting of Shareholders held on September 14, 2010, at which the Company obtained the requisite approval by the Company’s shareholders of all three proposals presented at the Special Meeting to approve an amendment to the Company’s Amended and Restated Articles of Incorporation to increase the total number of authorized shares of the Company’s common stock.
About Aradigm
Aradigm is an emerging specialty pharmaceutical company focused on the development and commercialization of a portfolio of drugs delivered by inhalation for the treatment of severe respiratory diseases by pulmonologists. The Company has product candidates addressing the treatment of cystic fibrosis, bronchiectasis, inhalation tularemia and anthrax infections, and smoking cessation.
More information about Aradigm can be found at www.aradigm.com.
Forward-Looking Statements
Except for the historical information contained herein, this news release contains forward-looking statements that involve risk and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K for the year ended December 31, 2008 filed with the SEC on March 30, 2009, and the Company’s Quarterly Reports on Form 10-Q.
Aradigm and the Aradigm Logo are registered trademarks of Aradigm Corporation.
Aradigm Corporation
Nancy Pecota, 510-265-9370
Chief Financial Officer
Source: Business Wire (September 23, 2010 - 7:00 AM EDT)
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Emerging Media Holdings Captures Market Share & Nielsen Ratings Increase in Eastern Europe
Emerging Media Holdings Captures Market Share & Nielsen Ratings Increase in Eastern Europe
Market Share & Ratings Reach an Astounding 23.38% Benchmark
Sep. 23, 2010 (GlobeNewswire) --
OVIEDO, Fla., Sept. 23, 2010 (GLOBE NEWSWIRE) -- Emerging Media Holdings, Inc. (OTCBB:EMDH), a prominent television and media supplier in the Eastern European markets of Moldova, announced today that a benchmark goal has been achieved by capturing an astounding 23.38% of the commercial market share, with an emphasis in the most heavily populated area of the region, the Capital City of Chisinau.
According to the independent AGB Nielsen data analysis, (www.agbnielsen.net.), rating of the commercial market share achieved a record breaking 23.38% as of September 2010 for the heavily populated Capital City area of Chisinau and a 10.37% for the entire Republic of Moldova. Emerging Media Holdings owns and controls two of the top three television and media stations in the region and is a leading prominent media outlet for television programming to the masses.
"We feel that the recent Nielsen ratings are a direct result of our continued commitment to bring more high quality programming to our viewers as we expand our viewership foot print in Eastern Europe. Of course, this proof of viewership increases our value to our advertiser base and should make it even easier to continue to gain growth rate among international advertisers that we have experienced so far this year," said Iurie Bordian, CEO of Emerging Media Holdings, Inc.
"With an emphasis on Entertainment and News Programming, Emerging Media Holdings continues to rise above the current market competition and maintains a structured plan of growth and acquisition through 2010-2011. As a dominant force within the television broadcasting and media advertising distribution sectors, Emerging Media Holdings through its subsidiaries TV7 and TNT Bravo, is positioned to become the single most trusted source of news and entertainment in this Eastern European market," said Michael Moore, Media Editor for Wall Street Replay, (www.wallstreetreplay.com).
About Emerging Media Holdings Inc.
Emerging Media Holdings Inc. is the U.S. parent company of three Moldova-based subsidiaries engaged in radio and television broadcasting and related advertising sales activities. Its 100%-owned subsidiary Analytic Media Group is a market-leading television broadcaster and content creator in the Republic of Moldova, an Eastern European country located between Romania to the west and Ukraine to the north, east and south. Visit the company on the Web at http://www.emergingmediaholdings.com
About Our Forward-Looking Statements
Certain statements contained in this press release, including, without limitation, statements containing the words "believes", "anticipates", "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. Our actual results may differ materially from those anticipated in our forward-looking statements as a result of a number of factors, including our ability to create, sustain, manage or forecast our growth; our ability to attract and retain key personnel; changes in our business strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general economic and market conditions. Except as required by applicable law, we undertake no obligation to revise or update any of our forward-looking statements in order to reflect any event or circumstance that may arise after the date hereof.
CONTACT: CenterPoint Communications Group, LLC
Todd D. Lorenze, Managing Partner
386-775-2020 Ext: 101
info@centerpointcg.com
www.centerpointcg.com
Source: Globe Newswire (September 23, 2010 - 7:00 AM EDT)
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Avion Gold Corporation: Tabakoto South Intercepts Expand Extent of Higher Grade Gold Zones
Avion Gold Corporation: Tabakoto South Intercepts Expand Extent of Higher Grade Gold Zones
NEW INTERSECTIONS OF UP TO 21.4 g/t Au over 6.2 METRES and 16.86 g/t Au over 5.7 METRES
Sep. 23, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 09/23/10 -- Avion Gold Corporation (TSX VENTURE: AVR)(OTCQX: AVGCF) ("Avion") is pleased to announce new drill results for the area just south of the Tabakoto Pit. This area hosts the Tabakoto South Trend northeast-trending cross structures (see Figure) that combined have been traced for 450 metres along strike and to 250 metres depth. Intercept highlights include the following:
-- 9.09 g/t Au over 8.0 metres
-- 17.86 g/t Au over 2.4 metres
-- 21.4 g/t Au over 6.2 metres
-- 16.86 g/t Au over 5.7 metres
-- 80.86 g/t Au over 2.3 metres
The Tabakoto South Trend lies approximately 260 metres southeast, and is parallel to the NE1 zone described in Avion's News release dated September 9th, 2010. Within this trend, two coherent, partially overlapping zones of higher grade mineralization have been identified: the Tabakoto South and Dabo zones (see figures). A summary of drill hole intercepts are presented in a table at the end of this release.
The Tabakoto South zone, was tested with fourteen holes in 2010 and has been traced for approximately 300 metres along strike, to 275 metres below surface and is open to depth (see Figure). This year's program has demonstrated that higher grade portions of the zone are predictable along a moderate to steep east plunge and that the zone is open down plunge. Two of the deepest holes returned intercepts of 16.86 g/t Au over 5.7 metres and 5.06 g/t Au over 5.6 metres.
The Dabo zone has been traced for approximately 250 metres along strike, to 250 metres depth and is open down plunge below the deepest hole which returned 11.83 g/t Au over 9.2 metres. Drilling to extend this zone down dip and along strike to the west did not extend the zone.
The Tabakoto South and Dabo zones lie along a four kilometre long northerly trend that is cut by both northeast- and northwest-trending cross structures that often host high grade gold mineralization. These structures are the focus of Avion's Tabakoto pit area exploration plans and underground mine development at Tabakoto. Exploration in 2010 has focused drilling on seven of these cross-structures, in the immediate Tabakoto pit area. Two additional cross structures are highlighted in this release.
Subsequent exploration updates on the remaining two major cross-structures are planned once the drilling is completed and the results are available. Future Tabakoto area exploration will continue to focus on systematically defining the known cross structures and tracing them along strike and down plunge.
Drilling also intersected several other cross structures with an intercept of 6.8 g/t Au over 4.0 metres in hole T-10-36 and a fourth zone near the top of the hole T-10-47 where an intercept of 1.89 g/t Au over 5.7 metres was returned. Drilling will be required in order to determine the strike extent of these mineralized intercepts.
John Begeman, Avion's President and CEO, stated: "As expected, the cross structures continue to return exceptional drill results and demonstrate that the mineralized system is still open to depth and that the potential for the discovery of new zones is high. Avion's management believes that continued exploration will continue to turn up new structures that can potentially add to our ability to increase our overall resources."
In 2010 Avion has completed over 440 core and reverse circulation drill holes totaling approximately 53,300 metres of drilling, at its Tabakoto and Hounde properties. This work has focused predominantly on the Dioulafoundou, Tabakoto, Djambaye II, Segala and Vindaloo areas. Drilling will recommence on the Hounde property, Burkina Faso, which Avion is in the process of acquiring (See News Release dated July 5, 2010), in October, 2010 with approximately 4,000 metres of drilling planned. Drilling is planned for the Kofi property, Mali, once the concession permits are transferred to Avion (See News Release dated March 31, 2010).
Assays presented in the attached table have been capped at 32 g/t Au as per the latest technical report on the Tabakoto deposit. Avion's procedures for handling core have been presented in previous news releases (See for e.g. Avion News Release dated May 13, 2010).
Don Dudek, P.Geo., the Senior Vice President, Exploration of the Company and a qualified person under National Instrument 43-101, has reviewed the scientific and technical information in this press release.
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 to be between 75,000 and 85,000 ounces of gold. 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 the Company's existing mine infrastructure. Additionally, the 1,670 km2 Hounde exploration property in Burkina Faso, that Avion is in the process of acquiring (see News Release dated July 5, 2010) is returning good results from an ongoing exploration program. These properties are the subject of an approximate US$ 12 million dollar, 60,000 metre plus, drill-focused exploration program in 2010, which management expects, based on results to date, to add new resources and future opportunities for Avion. Avion continues to progress towards its longer term goal of 200,000 ounces of gold per year and is preparing to mine underground at 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 Tabakoto, Kofi and Hounde projects; 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.
Avion 2010 Tabakoto South Area Intercepts
-----------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Core True
Length Width Au Capped 32
Hole From (m) To (m) (m) (m) g/t g/t Au Zone
---------------------------------------------------------------------------
---------------------------------------------------------------------------
T-10-25 4.5 5.2 0.7 0.4 23.5 23.5 Tabakoto South
-----------------------------------------------------------------
T-10-26 245.1 247 1.9 1.4 3.17 3.17 Tabakoto South
-----------------------------------------------------------------
T-10-26 264.5 266 1.5 0.86 0.86
-----------------------------------------------------------------
T-10-27 130.3 138.3 8.0 5.0 9.09 8.43 Tabakoto South
-----------------------------------------------------------------
T-10-28 129.6 132 2.4 1.8 17.87 17.87 Tabakoto South
-----------------------------------------------------------------
T-10-29 125.3 126.8 1.5 2.42 2.42
-----------------------------------------------------------------
T-10-29 130.0 132.5 2.5 2 18.51 17.21 Tabakoto South
-----------------------------------------------------------------
T-10-29 182.2 183.5 1.3 2.7 2.7
-----------------------------------------------------------------
T-10-29 NV Dabo
-----------------------------------------------------------------
T-10-35 161.3 167.5 6.2 4.0 21.4 21.32 Tabakoto South
-----------------------------------------------------------------
T-10-36 154.0 158 5.6 3.5 5.06 5.06 New Zone 1
-----------------------------------------------------------------
T-10-36 287.6 288.1 0.6 3.55 3.55
-----------------------------------------------------------------
T-10-36 298.4 299.4 1.0 6.21 6.21
-----------------------------------------------------------------
T-10-36 303.4 309 5.6 3.5 5.06 5.06 Tabakoto South
-----------------------------------------------------------------
T-10-37 88.8 90.3 1.5 1.46 1.46
-----------------------------------------------------------------
T-10-37 123.5 125.8 2.2 2.41 2.41
-----------------------------------------------------------------
T-10-37 265.5 271.15 5.65 3.3 16.86 16.19 Tabakoto South
-----------------------------------------------------------------
T-10-38 165.5 167.5 2.0 2.83 2.83
-----------------------------------------------------------------
T-10-38 240.0 242.5 2.5 1.03 1.01
-----------------------------------------------------------------
T-10-38 261.1 261.6 0.5 0.3 18.8 18.8 Tabakoto South
-----------------------------------------------------------------
T-10-38 275.8 276.9 1.1 1.67 1.67
-----------------------------------------------------------------
T-10-39 16.5 17.9 1.4 1.08 1.08
-----------------------------------------------------------------
T-10-39 92.9 94.9 2.0 2.53 2.00
-----------------------------------------------------------------
T-10-39 207.0 209 2.0 1.2 4.94 4.94 Tabakoto South
-----------------------------------------------------------------
T-10-40 149.7 150.3 0.6 1.23 1.23
-----------------------------------------------------------------
T-10-40 152.9 153.4 0.5 0.3 2.21 2.21 Tabakoto South
-----------------------------------------------------------------
T-10-41 48.3 49.25 0.95 1.09 1.09
-----------------------------------------------------------------
T-10-41 99.8 110 10.2 0.38 0.38
-----------------------------------------------------------------
T-10-41 123.0 125 2.0 0.55 0.55
-----------------------------------------------------------------
T-10-41 125.0 127.3 2.3 1.8 80.86 12.79 Tabakoto South
-----------------------------------------------------------------
T-10-42 219.8 220.6 0.8 4.62 4.62
-----------------------------------------------------------------
T-10-42 242 243.9 1.9 1.5 2.7 2.70 Tabakoto South
-----------------------------------------------------------------
T-10-42 280.5 282.2 1.7 4.77 4.77
-----------------------------------------------------------------
T-10-43 124.0 125.25 1.25 1.7 1.70
-----------------------------------------------------------------
T-10-43 NV Tabakoto South
-----------------------------------------------------------------
T-10-47 46.0 51.7 5.7 1.89 1.89 New Zone 2
-----------------------------------------------------------------
T-10-47 NV Dabo
-----------------------------------------------------------------
T-10-48 NV Dabo
---------------------------------------------------------------------------
---------------------------------------------------------------------------
To view Fig. 1, please visit the following link: http://media3.marketwire.com/docs/Fig_1_Tabakoto_Location_Map.pdf
To view Fig. 2, please visit the following link: http://media3.marketwire.com/docs/Fig_2_South_Dabo_Zone_Location_Map.pdf
To view Fig. 3, please visit the following link: http://media3.marketwire.com/docs/Fig_3_Tabakoto_South_Zone_NR_Long_Section.pdf
To view Fig. 4, please visit the following link: http://media3.marketwire.com/docs/Fig_4_Tabakoto_Dabo_Zone_NR_Long_Section.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 (September 23, 2010 - 7:30 AM EDT)
News by QuoteMedia
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WADV Provides Glimpse into Its Captivating Advertising Week 2010 Line-up
WADV Provides Glimpse into Its Captivating Advertising Week 2010 Line-up
Exclusive Interviews with Advertising Age, New York Times, Pandora &
Yahoo!
Highlights from Panels Hosted by AOL, Bloomberg, CNN & Clear Channel
Sep. 23, 2010 (Business Wire) -- Clear Channel Radio (OTCBB: CCMO):
WHAT: Advertising Week is just a few days away and its official radio station – WADV – is gearing up for another exciting event! Powered by Clear Channel Radio’s digital iheartradio platform, the station’s line-up is bigger and bolder than before, featuring exclusive interviews with top industry players and highlights from the most buzz-worthy panels. You won’t want to miss it!
Here’s a sneak peak
Exclusive Interviews with Top Executives & Key Reporters:
• Yahoo! Mitch Spolan, Vice President of North American Field Sales
• Pandora’s Tim Westergren, Chief Strategy Officer & Founder
• New York Times’ Stuart Elliott, Advertising Reporter
• Advertising Age’s Andrew Hampp, Bureau Chief & Reporter
• Billboard’s Ann Donahue, Senior Editor
• Mediaweek’s Katy Bachman, Senior Editor
Buzz-Worthy Panels:
• Road to the 2014 NY/NJ Super Bowl: Featuring NFL Commissioner, Roger Goodell, NY Jets Owner Woody Johnson, Giants Owner, Jon Tisch and Mark Lamping, CEO of the New Meadowlands Stadium Company
• Advertising Week Bloomberg CEO Summit: Top CEO's tackle Madison Avenue's biggest challenges
• Fast Company CEO Forum: Global CEO's pave the way forward in the connected world
• Clear Channel “Conversations With…” panels: How marketers and media are addressing hunger, with insights from Kraft, Feeding America, and Food Network’s Pat and Gina Neely; and a discussion on new innovations uniting marketing and music discovery with SUBWAY, Warner Brothers, and Content and Company
• CNN’s Mobilizing Communities in Times of Crisis: What’s Your Plan?: Featureing Special Olympics, Facebook, American Red Cross, Save the Children, and Google
• AOL’s Hello and Welcome to…Moviefone’s 20th Anniversary!: Exclusive interview with Moviefone and actor and filmmaker Ed Burn
WHO: The best and the brightest in advertising, marketing, and media.
WHERE: WADV can be found online at iheartradio.com, on the iheartradio app available on the iPhone, iPod touch, BlackBerry and Android devices, and on Advertising Week’s Web site as a live, streaming widget: http://www.advertisingweek.com/wadv.php. Take your pick!
WHEN: WADV goes live on Wednesday, September 22nd, streaming through Advertising Week until Monday, October 4th. Individual interviews and sessions can also be downloaded from the Advertising Week Web site – check out the previews of Advertising Week already on the site!
WHY: Big names. Bold topics. Anticipated events. Be the first to hear about it – only on WADV.
Brainerd Communicators, Inc.
Maggie Duquin Nolan, 212-986-6667
duquin@braincomm.com
or
Sharon Oh, 212-986-6667
oh@braincomm.com
Source: Business Wire (September 23, 2010 - 7:03 AM EDT)
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A5 Laboratories Inc. Engages Mirador Consulting for Financial Advisory and Public Relations Representation
A5 Laboratories Inc. Engages Mirador Consulting for Financial Advisory and Public Relations Representation
Sep. 22, 2010 (Marketwire) --
MONTREAL, QUEBEC -- (Marketwire) -- 09/22/10 -- A5 Laboratories Inc. (OTCBB: AFLB) announced today that is has entered into an agreement with Mirador Consulting (www.miradorconsulting.com), a Florida based corporate consulting firm, to provide A5 Laboratories Inc. financial advisory and public relations representation in an effort to proactively and accurately present the Company to the public and investment community in a compliant, clear, and effective manner.
The agreement provides A5 Laboratories Inc. with professional representation in the public marketplace while allowing A5 to focus on its day to day business, revenue growth, and increasing shareholder value as it continues to execute on its accelerated production and acquisition strategy. Mirador's services provide hands-on proactive and critical solutions for A5 Laboratories Inc. financial advisory and public relations needs.
About A5 Labs:
A5 Labs is a contract research based organization servicing the pharmaceutical and biotechnology companies in North America. The company utilizes its research capabilities to license and acquire novel biotechnology products for development and commercialization.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to A5 or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of A5's products, the competitive environment within the industry, the ability of A5 to continue to expand its operations, the level of costs incurred in connection with A5's expansion efforts, economic conditions in the industry and the financial strength of A5's customers and suppliers. A5 does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
Contacts:
A5 Laboratories Inc.
Investor Relations
1-877-331-8777
ir@a5labs.com
Source: Marketwire (September 22, 2010 - 2:37 PM EDT)
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Southern Michigan Bancorp, Inc. Declares Cash Dividend
Southern Michigan Bancorp, Inc. Declares Cash Dividend
Sep. 22, 2010 (PR Newswire) --
COLDWATER, Mich., Sept. 22 /PRNewswire-FirstCall/ -- Southern Michigan Bancorp, Inc. (OTC Bulletin Board: SOMC.OB) declared a quarterly dividend of $0.05 per share on the outstanding shares of the corporation's stock. The dividend is payable on October 22, 2010 to shareholders of record October 8, 2010.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070619/CLTU100LOGO)
(Logo: http://photos.prnewswire.com/prnh/20070619/CLTU100LOGO)
Southern Michigan Bancorp, Inc. is a bank holding company headquartered in Coldwater, Michigan. Its subsidiary bank, Southern Michigan Bank & Trust, has 18 branches within Branch, Calhoun, Cass, Hillsdale and St. Joseph Counties and provides a broad range of consumer, business and wealth management services throughout the region. For more information, please visit the Southern Michigan Bank & Trust website, www.smb-t.com.
SOURCE Southern Michigan Bancorp, Inc.
John H. Castle, CEO, +1-517-279-5500
Source: PR Newswire (September 22, 2010 - 1:48 PM EDT)
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SUBWAY(R) Restaurants, Clear Channel Radio and OurStage.com Partner to Change the Rules for Discovering Emerging Music Artists
SUBWAY(R) Restaurants, Clear Channel Radio and OurStage.com Partner to Change the Rules for Discovering Emerging Music Artists
SUBWAY FRESH ARTISTS(TM) Competition Searches for New, Unsigned
Musicians - Offers Artists Chance to Open at Upcoming Goo Goo Dolls
Concert
Promotion Supported with Radio and Digital Advertising on Clear
Channel Platfo
Sep. 22, 2010 (Business Wire) -- In partnership with the SUBWAY® restaurants chain, Clear Channel Radio kicked off a new, nationwide campaign and competition, SUBWAY FRESH ARTISTS™, which will give one talented unsigned music artist/band the chance to open for the Goo Goo Dolls at an upcoming concert.
The first phase of the competition, promoted on the SUBWAY® brand’s consumer-facing digital platforms, opened last week inviting artists to submit new compositions of “wake up” songs. The submissions are designed to cater to morning drive radio listeners to help jump start their day and complement SUBWAY®’s “Build Your Better Breakfast” campaign. The public has the opportunity to vote for their favorite band via the iheartradio.com network, Clear Channel Radio websites and OurStage.com. Artist and consumer response has been enthusiastic – 1230 “wake up” songs have been uploaded by artists, and consumers have already voted more than 280,000 times for their favorite SUBWAY FRESH ARTISTS™.
“SUBWAY is a brand and business that is all about opportunity,” said SUBWAY Franchisee Advertising Fund Trust Chief Marketing Officer, Tony Pace. “With SUBWAY FRESH ARTISTS, we are providing an opportunity for emerging musical artists to perform and be heard by a larger audience. We are pleased to provide that opportunity and glad to give our consumers an early peak at some emerging artists. We also believe in multi-platform programs, and this works well across several media content platforms.”
“SUBWAY FRESH ARTISTS is changing the paradigm for discovering and monetizing musical content,” said John Partilla, President of Global Media Sales and Executive Vice President of Clear Channel. “This is a win-win for all concerned – for SUBWAY, for fans of new music, for Clear Channel’s media platforms, for the Goo Goo Dolls band, and for the new artists themselves. What we’re doing here is leveraging incredible, fresh content to deliver added value for SUBWAY’s marketers.”
“Over this past year, OurStage.com has been working with an ever growing list of major industry players,” said Ben Campbell, CEO of OurStage.com. “But having the opportunity to partner with Clear Channel, SUBWAY®, and Goo Goo Dolls at once is really a revolutionary way for us all to use our respective strengths to achieve something extraordinary; to further change the music industry for the better.”
The competition provides an engaging complement to the significant consumer marketing campaign the SUBWAY® brand is airing across Clear Channel stations/Premiere Networks, digital ads on Clear Channel radio station websites, as well as the iheartradio digital platform.
The cross-platform integration behind SUBWAY FRESH ARTISTS™ was facilitated by Content & Company, which specializes in connecting brands to customers through new media and branded entertainment channels, helping marketers create engaging opportunities around their own original programming, rather than simply sponsor pre-existing properties.
How SUBWAY FRESH ARTISTS™ Works
Competition opened on September 10 – giving artists the opportunity to upload their songs – and consumers the chance to judge their favorites via OurStage.com’s Remote Competition Module (RCM) that is live on Clear Channel Web sites, iheartradio.com, and OurStage.com. With the country divided into 10 regions, the top 50 fan favorite artists/bands from each region will advance to a second round on October 1. A panel of Clear Channel Radio programming directors will help choose one winner in each region, who will all receive $500 SUBWAY® Cards and $1,000 cash prizes. The Goo Goo Dolls will help finalize the competition by joining in the selection of one lucky grand prize winner who will get the chance to be the opening act at a future Goo Goo Dolls concert, plus a $1,000 cash prize and a session with a professional song writer.
Additionally, consumer engagement will be spurred by prizes for 10 regional winners who will each receive a $50 SUBWAY® Card and a Goo Goo Dolls merchandise package. One consumer Grand Prize winner will be named the top Fan Predictor on OurStage.com and receive two tickets and a meet-and-greet to a future Goo Goo Dolls concert.
For more information about the promotion, official rules and grand prize winners, please visit: http://www.ourstage.com/prizes/5766
About SUBWAY® Restaurants
The SUBWAY® restaurant chain is the world's largest submarine sandwich franchise, with more than 33,000 locations in 91 countries. Headquartered in Milford, Connecticut, and with regional offices in Amsterdam, Beirut, Brisbane, Miami, and Singapore, the SUBWAY® chain was co-founded by Fred DeLuca and Dr. Peter Buck in 1965. The SUBWAY® brand was ranked the number one global franchise opportunity in Entrepreneur magazine’s 2010 “Annual Franchise 500” listing for the 17th time in 23 years. For more information about the SUBWAY® chain, visit www.subway.com and www.subwayfreshbuzz.com. SUBWAY® is a registered trademark of Doctor’s Associates Inc.
About Clear Channel Radio
Clear Channel Radio is a leading radio company focused on serving local communities across the U.S. with an audience of more than 110 million choosing Clear Channel Radio programming each week. The company's content can be heard on AM/FM stations, HD digital radio channels, on the Internet, at iheartradio.com and on the iheartradio mobile application on iPods and smart phones, and used via navigation systems from TomTom, Garmin and others. The company's operations include radio broadcasting, syndication and independent media representation. Clear Channel Radio is a division of Clear Channel Communications, Inc. (OTCBB: CCMO), a leading global media and entertainment company. More information on the company can be found at www.clearchannel.com.
About OurStage.com
OurStage.com is an online music destination unlike any other. It’s a meeting space for music lovers, and the place where tomorrow’s stars get discovered. Artists, fans and the entire industry come together here to celebrate and influence new music. Undiscovered artists submit their tracks to monthly music channels, fans rank their material, and industry professionals keep tabs on who’s rising through the charts, rewarding the best of the best with priceless opportunities. Fans and artists are eligible for monthly prizes and life-altering prospects for success, made possible through OurStage.com’s partnerships with media giants such as MTV; key radio conglomerates like Citadel Media and Radio-One; leading Web outlets like AOL Music; and major music festivals such as Bonnaroo, Bumbershoot, Noise Pop and CMJ. Founded in 2007, OurStage.com delivers music and editorial coverage to over 4 million monthly visitors from more than 170 countries, as well as development tools to more than 140,000 artists. For more information on the world’s most authentic online music community, visit www.ourstage.com.
About Content & Company
Content & Company is a Los Angeles-based brand studio that creates and distributes content for Fortune 100 brands across multiple platforms, including the most powerful distribution channel of all: the brands themselves. The modern incarnation of the brand studio, Content & Company offers advertisers the opportunity to create their own programming rather than sponsor, or integrate into, existing properties. Founded by Stuart McLean, a recognized leader in the fields of brand marketing and branded content, Content & Company pairs consumer brands like Schick and SUBWAY with top Hollywood creative talent to create unforgettable original programming. For more information about the studio, visit Facebook.com/ContentandCompany.
Clear Channel Communications
Lisa Dollinger, 210-832-3474
lisadollinger@clearchannel.com
or
Brainerd Communicators, Inc. for Clear Channel
Maggie Duquin Nolan, 212-986-6667
duquin@braincomm.com
or
Sharon Oh, 212-986-6667
oh@braincomm.com
or
Content & Company, 310-689-7363
todd@beckmedia.com
or
SUBWAY® Restaurants
Christine Sumecki, 203-882-2749
sumecki_c@subway.com
or
OurStage.com
Erik Stein, 213-639-6162
estein@solters.com
Source: Business Wire (September 22, 2010 - 2:53 PM EDT)
News by QuoteMedia
www.quotemedia.com
Max completes soil sampling at Diamond Peak gold/silver/zinc property in Nevada; drill permit granted
Max completes soil sampling at Diamond Peak gold/silver/zinc property in Nevada; drill permit granted
Sep. 22, 2010 (PR Newswire) --
TSX-V Symbol: MXR
OTC BB Symbol: MXROF
Frankfurt: M1D
VANCOUVER, Sept. 22 /PRNewswire-FirstCall/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) is pleased to announce that is has completed an extensive soil sampling program on its 100% owned Diamond Peak gold/silver/zinc project in Nevada and has been granted a permit by the Bureau of Land Management for a core drilling program to be conducted in November. A total of 375 soil samples were collected and assay results are pending.
The Diamond Peak Property is located at the southern end of the prolific Carlin Trend of Nevada, which contains numerous gold deposits. The property now comprises 58 claims located 32 miles north of the town or Eureka, Nevada and the Archimedes gold deposit owned by Barrick Gold. Strong surface mineralization occurs in a 2 mile long band of silicified and intensely clay altered rocks which is 200 to 300 feet wide. The hanging wall side of this zone is a north striking normal fault, called the West Fault.
MAX's drill program will follow up on:
- an outcrop sampled by MK Gold that contained 3.7 ounces of silver per
ton, which has potential to host a Carbon Replacement Deposit ("CRD")
and was never followed up on;
- the 11.6% zinc zone intercepted within 60 feet of surface by MK Gold
in 1999;
- a zone of mineralization which contains anomalous zinc, lead, and
silver; and
- extensive gold targets on the property and new claims acquired to the
east that are being defined by the recent soil sampling program.
This news release has been reviewed by Clancy J. Wendt, P. Geo, a qualified person as that term is defined under National Instrument 43-101. The historic information provided has not been verified by MAX and is for reference only.
About MAX Resource Corp.
------------------------
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in the Western United States. We are currently focused on gold, with three Nevada gold properties, Table Top, East Manhattan Wash and Diamond Peak, being actively explored this fall. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
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.
This News Release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause MAX's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
SOURCE MAX Resource Corp.
Leonard MacMillan, Corporate Communication, Telephone: (866) 331-5088 or (604) 637-2140, info@maxresource.com, www.maxresource.com
Source: PR Newswire (September 22, 2010 - 3:18 PM EDT)
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U.S. Natural Nutrients and Minerals, Inc. to be Quoted on OTCBB as Usual
U.S. Natural Nutrients and Minerals, Inc. to be Quoted on OTCBB as Usual
Sep. 22, 2010 (GlobeNewswire) --
BEND, Ore., Sept. 22, 2010 (GLOBE NEWSWIRE) -- U.S. Natural Nutrients and Minerals, Inc., (OTCBB:USMN) announced today that it only recently discovered the company's stock was no longer quoted on the OTC Bulletin Board. After investigation, management learned that on June 25, 2010 the BB listing was dropped because the initial market maker failed to quote the stock for four consecutive days. In making this announcement, Dennis Cullison, President, stated, "FINRA member BMA Securities has filed a Rule 15c2-11 Exemption Request Form on our behalf with FINRA. Although USMN's stock is and has been trading on the Pink Sheets, we expect it to be back on the OTCBB within several days."
U.S. Natural Nutrients and Minerals, Inc. ("USMN"), is engaged in the sales and distribution of certain products derived from the company's mining activities relating to natural mineral deposits commonly known as a Calcium Montmorillonite. USMN products consist of agricultural soil rejuvenation, bio-remediation, aquaculture and composting accelerator products sold under the brand name EXCELERITE®. USMN is headquartered in Bend, Oregon and has executive offices in Las Vegas, Nevada. The company maintains a web site at: www.usnnm.com.
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of U.S. Natural Nutrients and Minerals, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
CONTACT: U.S. Natural Nutrients and Minerals, Inc.
Investor Relations Dept.
1-888-820-2270
ir@usnnm.com
Source: Globe Newswire (September 22, 2010 - 3:50 PM EDT)
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Topaz Resources Signs Definitive Agreement With RMJ
Topaz Resources Signs Definitive Agreement With RMJ
Sep. 22, 2010 (Marketwire) --
DENTON, TX -- (Marketwire) -- 09/22/10 -- Topaz Resources, Inc. (OTCBB: TOPZ) today announced that it has signed a Definitive Agreement with RMJ, Inc. to partner in a Multi-Well Development Program. Under this Program, Topaz and RMJ are now negotiating participation by RMJ in the Barnett Shale well recently drilled by Topaz in the "oil" leg of the Barnett Shale formation in North Texas, which Topaz currently is preparing to complete.
"We are very impressed at how quickly RMJ has been able to complete their part of this transaction," commented Ted Munden, CEO of Topaz Resources, "and we look forward to partnering with RMJ in our current Barnett Shale well and in the next series of wells that we have planned in the near future."
About RMJ
RMJ is a private independent oil and gas (E&P) company engaged in the exploration, development and production of oil and gas in Texas, Oklahoma and California.
About Topaz Resources
Topaz Resources is an independent oil and gas company focusing on production, acquisitions and developmental drilling opportunities within proven producing areas of north, central and west Texas. The Company's website can be found at www.topazresourcesinc.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Natalie Bannister
Investor Relations
573.631.2193
Email Contact
Source: Marketwire (September 22, 2010 - 4:00 PM EDT)
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Baron Energy, Inc. CEO Acquires Common Stock
Baron Energy, Inc. CEO Acquires Common Stock
Sep. 22, 2010 (GlobeNewswire) --
NEW BRAUNFELS, Texas, Sept. 22, 2010 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (OTCBB:BROE) ("Baron" or the "Company"), an independent oil and gas company, today announced that its President and CEO, Ronnie L. Steinocher, has acquired 420,168 shares of stock in the Company in a private transaction.
About Baron Energy
Baron Energy, Inc. (OTCBB:BROE) is an independent oil and gas production, exploitation, and exploration company headquartered in New Braunfels, Texas with producing assets in the prolific oil producing Permian Basin of West Texas.
Baron owns production that is 99% oil, both operated and non-operated, with working interest ranging from 5% to 100% in oil and gas fields located in Baylor, Borden, Garza, Jones, Runnels, Scurry and Taylor Counties, Texas.
Baron's growth strategy centers on making accretive property acquisitions in its core operating area. The Company targets properties that have oil production with upside developmental potential.
For more information, please visit www.baronenergy.com
Forward-Looking Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "potential," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Baron Energy, Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov, including the Company's Annual Report on Form 10-K filed on October 29th, 2009. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: Baron Energy, Inc.
Investor Contact:
Brad Holmes
(713) 654-4009
b_holmes@att.net
Source: Globe Newswire (September 22, 2010 - 4:05 PM EDT)
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Entech Solar to Host Conference Call to Provide Business Update
Entech Solar to Host Conference Call to Provide Business Update
Sep. 22, 2010 (Business Wire) -- Entech Solar, Inc. (OTCBB:ENSL) (the “Company”) today announced that it will host a conference call at 11:00 a.m. Eastern on September 28, 2010 to provide a business update and to answer questions from those participating on the conference call. The telephone number for the conference call is 800-901-5247 domestically and 617-786-4501 internationally, with conference ID #85104923. A live webcast of the call will also be available on the company's website, www.entechsolar.com.
The webcast will be archived on the site, and investors will be able to access a recording of the conference call for thirty days by calling 888-286-8010 domestically or 617-801-6888 internationally, with conference ID #19852206. The recording will be available two hours after the conference call has concluded.
About Entech Solar
Entech Solar, Inc. is a leading developer of renewable energy technologies and sustainable daylighting solutions for the commercial, industrial and utility markets. Entech Solar designs concentrating solar modules that produce electricity from sunlight as part of the SolarVolt™ product line. The Company also manufactures and markets the Entech™ Tubular Skylight, a state-of-the-art tubular skylight that provides superior light output and optical efficiency for the commercial and industrial green building initiatives. For more information, please visit www.entechsolar.com.
Entech Solar, Inc.
Chas Michel, 817-224-3600
ir@entechsolar.com
Source: Business Wire (September 22, 2010 - 4:10 PM EDT)
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ORBIT/FR & AEMI Report U.S. Orders for Q3 2010
ORBIT/FR & AEMI Report U.S. Orders for Q3 2010
Sep. 22, 2010 (PR Newswire) --
HORSHAM, Pa., Sept. 22 /PRNewswire/ -- ORBIT/FR, Inc. (OTC Bulletin Board: ORFR), a Microwave Vision Company and a leading producer of automated microwave test and measurement systems for the aerospace, defense, communications, automotive and satellite industries, was recently awarded several large orders totaling approximately $4.4 million.
One major order is for the design and delivery of a large, multi-purpose compact range test system to be installed in the downtown Atlanta campus of the Georgia Institute of Technology. Other important projects include RF instrumentation and positioning components for various US government and defense contractors.
ORBIT/FR's wholly-owned subsidiary, Advanced ElectroMagnetics, Inc (AEMI), won an order from the United States Navy for a significant absorber refurbishment project of a very large EW chamber. Other recent orders include several chamber refurbishments for a major defense contractor.
"These orders show a continuing strong demand for ORBIT/FR and AEMI products for aerospace and defense applications," said Per Iversen, President and CEO of ORBIT/FR, Inc.
About ORBIT/FR & AEMI:
ORBIT/FR (OTC Bulletin Board: ORFR) is a leading producer of automated microwave antenna test and measurement systems for the aerospace, defense, communications, automotive and satellite industries. ORBIT/FR specializes in the design and installation of full turn-key systems, positioning subsystems, test and measurement software, and RF instrumentation. Its wholly-owned subsidiary, Advanced ElectroMagnetics, Inc (AEMI), is a supplier of top-quality RF absorbers and anechoic test facilities. The companies are part of the Microwave Vision Group, which also includes SATIMO, the developer of innovative multi-probe arrays. Together, the companies can provide the widest range of measurement solutions including a comprehensive product portfolio and superior project management. For more information, please go to www.orbitfr.com or www.aemi-inc.com.
SOURCE ORBIT/FR, Inc.
Stephanie Paey of ORBIT/FR, Inc., +1-215-674-5100
Source: PR Newswire (September 22, 2010 - 4:28 PM EDT)
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eGain Announces Financial Results for the Fourth Quarter and Fiscal Year Ended June 30, 2010
eGain Announces Financial Results for the Fourth Quarter and Fiscal Year Ended June 30, 2010
Sep. 22, 2010 (Marketwire) --
MOUNTAIN VIEW, CA -- (Marketwire) -- 09/22/10 -- eGain Communications Corporation (OTCBB: EGAN)
Fiscal Year 2010 Highlights
-- Recurring services revenue up 8% from the prior year
-- Income from operations of $1.2 million
-- Cash flow from operations of $2.5 million
eGain Communications Corporation (OTCBB: EGAN), a leading provider of customer service and contact center software, today announced financial results for the fourth quarter and fiscal year ended June 30, 2010.
Total revenue for the fourth quarter of fiscal year 2010 was $6.6 million, a decrease of 25% from the comparable year-ago quarter. Total revenue for the fiscal year 2010 was $29.9 million, a decrease of 10% from the prior year.
License revenue for the fourth quarter of fiscal year 2010 was $1.5 million, a decrease of 50% from the comparable year-ago quarter. License revenue for the fiscal year 2010 was $7.4 million, a decrease of 14% from the prior year. Recurring services revenue for the fourth quarter of fiscal year 2010 was $4.1 million, an increase of 4% from the comparable year-ago quarter. Recurring services revenue for the fiscal year 2010 was $16.6 million, an increase of 8% from the prior year. Professional services revenue for the fourth quarter of fiscal year 2010 was $1.0 million, a decrease of 47% from the comparable year-ago quarter. Professional services revenue for the fiscal year 2010 was $5.9 million, a decrease of 36% from the prior year.
Gross margin for the fourth quarter of fiscal year 2010 was 65%, compared to 68% in the comparable year-ago quarter. Gross margin for the fiscal year 2010 was 68%, unchanged from the prior year. Total operating costs and expenses for the fourth quarter of fiscal year 2010 were $5.6 million, an increase of 20% from the comparable year-ago quarter. Total operating costs and expenses for the fiscal year 2010 were $18.9 million, a decrease of 1% from the prior year.
Net loss for the fourth quarter of fiscal year 2010 was $1.7 million, or $(0.07) per share, compared to a net income of $929,000, or $0.04 per share on a basic and diluted basis for the comparable year-ago quarter. Net loss for the fourth quarter of fiscal year 2010 included stock-based compensation of $53,000 and interest and tax expense of $324,000, compared to stock-based compensation expense of $19,000 and a net of interest expense and tax benefit of $240,000 from the comparable year-ago quarter.
Net loss for the fiscal year 2010 was $127,000, or $(0.01) per share, compared to a net income of $2.2 million, or $0.11 per share on a basic and diluted basis for the prior year. Net loss for the fiscal year 2010 included stock-based compensation of $244,000 and interest and tax expense of $1.3 million, compared to stock-based compensation expense of $241,000 and a net of interest expense and tax benefit of $1.3 million for the prior year.
Total cash and cash equivalents were $5.7 million at June 30, 2010, compared to $7.5 million at June 30, 2009. Cash provided by operations was $2.5 million for the fiscal year 2010, compared to cash provided by operations of $3.7 million in the prior year. Bank borrowings declined to $115,000 at June 30, 2010 from $3.2 million at June 30, 2009. Days sales outstanding in receivables for the quarter ended June 30, 2010 were 40 days, compared to 44 days for the comparable year-ago quarter. Deferred revenues totaled $5.1 million at June 30, 2010, compared to $5.5 million at June 30, 2009.
"Our fiscal year 2010 top line result was less than what we expected at the start of the year," said Ashu Roy, eGain CEO. "This was primarily due to our hybrid business model driven by our deployment flexibility. Our clients value our proven deployment flexibility across cloud and on-premise, so we are happy to provide it. Specifically, last quarter a very significant license transaction, over $5 million dollars, slipped. The good news is the deal closed in August, 2010. So we are off to an excellent start for fiscal year 2011. Top-line disappointment notwithstanding, I am delighted with our team's strong execution for the year. In fiscal year 2010 we saw a healthy growth in our recurring services revenue and generated $2.5 million of operating cash even while we invested in smart customer-centric initiatives in a tough economy.
"We consolidated our product leadership with sustained research and development investment. In 2009, we were again rated a leader by Gartner in the 'Magic Quadrant for E-Service Suites.' And in 2010, just hot off the press, we further improved our standing as a leader in the 2010 Gartner Magic Quadrant for Web Customer Service (renamed from E-Service). Our team is justifiably proud of this 'threepeat' accomplishment -- they have earned it."
Business Highlights
New Hosting and License Bookings(1)
-- New hosting and license bookings for the fourth quarter of fiscal year
2010 were $2.8 million, a decrease of 38% from the comparable year-ago
quarter. Of the total new hosting and license bookings in the fourth
quarter of fiscal year 2010, 61% were from new hosting bookings and 39%
were from new license bookings, compared to 28% from new hosting
bookings and 72% from new license bookings in the comparable year-ago
quarter.
-- New hosting and license bookings for the fiscal year 2010 were $13.1
million, a decrease of 14% from the prior year. Of the total new
hosting and license bookings in the fiscal year 2010, 42% were from new
hosting bookings and 58% were from new license bookings, compared to
29% from new hosting bookings and 71% from new license bookings in the
prior year.
New milestones, products and industry recognition
-- eGain was positioned in the Leaders Quadrant by Gartner, Inc. in the
"Magic Quadrant for E-Service Suites 2009" report. In the 2010 Gartner
report (renamed "Magic Quadrant for Web Customer Service") released in
September 2010, eGain further improved its position in the Leaders
Quadrant.
-- eGain released eGain Service™ 9 suite, the company's most advanced
Customer Interaction Hub solution with rich functional enhancement and
significant platform improvement.
Partnerships
-- We have had an active and growing partner program in EMEA for some
time. In fiscal year 2010, we expanded our efforts in developing North
America partners. We believe the eGain proposition is compelling for
value-added resellers (VARs) who have traditionally sold contact center
technologies to enterprises. In fiscal year 2010 we signed agreements
with 9 new partners.
-- We extended our multi-year relationship with Cisco Systems, Inc. to be
their OEM supplier for email management and web collaboration products
as part of the Cisco Contact Center Suite. Our partnership with Cisco
continues to grow. We gain from Cisco's global market reach.
Conversely, Cisco benefits from our agile innovation and proven product
leadership.
Customer Momentum
eGain continued to build new relationships with a wide range of enterprise customers in fiscal year 2010. Notable new customer relationships include:
-- One of the nation's largest energy companies
-- One of the nation's largest health insurers
-- A world-leading mobile telecommunications company
-- One of the world's leading providers of fully integrated mobile
communication services
-- A leading global provider of comprehensive testing and assessment
services
-- A leading global beauty company
-- A premier online luxury fashion retailer
-- One of the UK's largest customer management outsourcing companies
Market and Business Outlook
We are optimistic about our prospects for fiscal year 2011. Beyond the obvious running start -- the one we got from the large deal that slipped from last quarter -- we see growing market interest in our recently launched products. In response, we are increasing our investment in direct sales and partner development.
For fiscal year 2011 we currently expect an increase in new total revenue of 20% when compared to fiscal year 2010. In addition, we currently expect to generate positive cash flows from operations in fiscal year 2011, while planning to invest a significant portion of our anticipated top-line growth back into growing our distribution capability.
(1) We define New Hosting and License Bookings as new contractual commitments (excluding renewals) received by the company for the purchase of product licenses and hosting services. Such contracts are not cancelable for convenience but may be subject to termination by our customers for cause or breach of contract by us. Furthermore, because we offer a hybrid delivery model, the mix of new license and hosting business in a quarter could also have an impact on our revenue in a particular quarter. Due to effects that these trends have on our short-term revenue and profitability, we believe that it is useful to disclose New Hosting and License Bookings detail in this and future financial releases. We use this metric internally to focus management on the productivity of the sales team and period-to-period changes in our core business. Therefore, we believe that this information is meaningful and helpful in allowing individuals to better assess the ongoing nature of our core operations.
About eGain Communications Corporation
eGain (OTCBB: EGAN) is the leading provider of multichannel customer service and knowledge management software for in-house or cloud deployment. For more than a decade, hundreds of enterprises have relied on eGain to transform their traditional call centers and eService operations into multichannel customer interaction hubs. eGain solutions are designed to improve customer experience, contact center agent productivity, and service process efficiencies.
Headquartered in Mountain View, California, eGain has operating presence in North America, EMEA and APAC. To learn more about us, visit www.eGain.com or call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or +91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter at @eGain (http://twitter.com/egain) and Facebook at (http://facebook.com/egain).
Cautionary Note Regarding Forward-Looking Statements
All statements in this release that involve eGain's plans, forecasts (including the above stated guidance), beliefs, projections, expectations, strategies and intentions, including but not limited to our allocation of resources, future financial performance and business plans and projections, are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on information available to eGain at the time of this release, are not guarantees of future results; rather, they are subject to risks and uncertainties that may cause actual results to differ materially from those set forth in this release. These risks include, but are not limited to, the uncertainty of demand for eGain products, including our guidance regarding bookings and revenue; our ability to invest resources to improve our products and continue to innovate; the anticipated customer benefits from our products; our partnership with Cisco; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K filed on September 28, 2009, and the Company's quarterly reports on Form 10-Q. eGain assumes no obligation to update these forward-looking statements.
Note: eGain is a registered trademark, and the other eGain product and service names appearing in this release are trademarks or service marks, of eGain Communications Corp. All other company names and products are trademarks or registered trademarks of their respective companies.
eGain Communications Corporation
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
June 30, June 30,
2010 2009
-------- --------
ASSETS
Current assets:
Cash and cash equivalents $ 5,733 $ 7,511
Restricted cash 13 13
Accounts receivable, net 2,955 4,308
Prepaid and other current assets 512 538
-------- --------
Total current assets 9,213 12,370
Property and equipment, net 869 995
Goodwill, net 4,880 4,880
Other assets 354 391
-------- --------
Total assets $ 15,316 $ 18,636
======== ========
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable $ 1,146 $ 979
Accrued compensation 1,987 2,429
Accrued liabilities 1,946 2,141
Current portion of deferred revenue 4,917 5,398
Current portion of capital lease obligation 157 181
Current portion of bank borrowings 115 3,125
-------- --------
Total current liabilities 10,268 14,253
Deferred revenue, net of current portion 186 133
Capital lease obligation, net of current portion 28 187
Related party notes payable 8,724 7,697
Bank borrowings, net of current portion -- 115
Other long term liabilities 273 344
-------- --------
Total liabilities 19,479 22,729
Stockholders' deficit:
Common stock 22 22
Additional paid-in capital 323,700 323,550
Notes receivable from stockholders (79) (76)
Accumulated other comprehensive loss (596) (506)
Accumulated deficit (327,210) (327,083)
-------- --------
Total stockholders' deficit (4,163) (4,093)
-------- --------
Total liabilities and stockholders' deficit $ 15,316 $ 18,636
======== ========
eGain Communications Corporation
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Twelve Months
Three Months Ended Ended
June 30, June 30,
------------------ ------------------
2010 2009 2010 2009
-------- -------- -------- --------
Revenue:
License $ 1,512 $ 3,022 $ 7,389 $ 8,613
Recurring services 4,093 3,926 16,617 15,382
Professional services 1,042 1,962 5,871 9,224
-------- -------- -------- --------
Total revenue 6,647 8,910 29,877 33,219
Cost of license 16 209 168 263
Cost of recurring services 1,107 1,130 4,492 4,371
Cost of professional services 1,192 1,493 5,048 6,112
-------- -------- -------- --------
Gross profit 4,332 6,078 20,169 22,473
Operating costs and expenses:
Research and development 1,653 1,178 5,510 5,481
Sales and marketing 2,981 2,731 10,226 10,465
General and administrative 939 735 3,211 3,271
-------- -------- -------- --------
Total operating costs and
expenses 5,573 4,644 18,947 19,217
-------- -------- -------- --------
Income / (loss) from operations (1,241) 1,434 1,222 3,256
Interest expense, net (285) (297) (1,123) (1,435)
Other income / (expense), net (92) (265) (67) 230
-------- -------- -------- --------
Income / (loss) before income tax (1,618) 872 32 2,051
Benefit / (provision) for income
taxes (39) 57 (159) 129
-------- -------- -------- --------
Net income / (loss) $ (1,657) $ 929 $ (127) $ 2,180
======== ======== ======== ========
Per share information:
Basic net income / (loss) per
common share $ (0.07) $ 0.04 $ (0.01) $ 0.11
======== ======== ======== ========
Diluted net income / (loss) per
common share $ (0.07) $ 0.04 $ (0.01) $ 0.11
======== ======== ======== ========
Weighted average shares used in
computing basic net income /
(loss) per common share 22,137 22,213 22,180 20,611
======== ======== ======== ========
Weighted average shares used in
computing diluted net income /
(loss) per common share 22,137 22,214 22,180 20,612
======== ======== ======== ========
Company Contact:
Jamie Abayan
650-230-7532
PR@eGain.com
Investor Contact:
IRegain@eGain.com
Source: Marketwire (September 22, 2010 - 4:44 PM EDT)
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UPDATE: PhytoMedical Continues Negotiations for Acquisition of Standard Gold Corp.
UPDATE: PhytoMedical Continues Negotiations for Acquisition of Standard Gold Corp.
Sep. 22, 2010 (Business Wire) -- PhytoMedical Technologies, Inc., today announced that is continuing its negotiations with Standard Gold Corp., as per the Memorandum of Intent (MOI) entered into on August 25, 2010.
On August 25, 2010 PhytoMedical Technologies, Inc. entered into a Non-Binding Memorandum of Intent (MOI) with Standard Gold Corp., pursuant to which PhytoMedical and Standard Gold will explore the possibility of the Company’s acquisition of all issued and outstanding stock of Standard Gold. Either party may terminate the MOI upon notice to the other. The MOI will terminate on December 31, 2010.
Pursuant to the terms of the MOI, PhytoMedical and Standard Gold simultaneously entered into a Bridge Loan Agreement (Loan) pursuant to which PhytoMedical loaned Standard Gold $30,000 in order for Standard Gold to maintain in good standing its rights to mineral claims. The Loan is evidenced by a promissory note, which is due and payable on December 31, 2010.
Standard Gold Corp. is a junior mineral exploration company based in Nevada. Additional information on Standard Gold is available at its website, www.StandardGoldCorp.com. PhytoMedical Technologies does not assume responsibility for the accuracy or completeness of information at this website.
There is no assurance that the transactions contemplated by the MOI, including, but not limited to the negotiation and execution of a definitive agreement will in fact be consummated.
About PhytoMedical Technologies, Inc.
PhytoMedical Technologies, Inc. (OTCBB: PYTO; Frankfurt Stock Exchange: ET6), together with its wholly owned subsidiaries, is a pharmaceutical company focused on research, development and commercialization of pharmaceutical products. On August 25, 2010 PhytoMedical entered into a Non-Binding Memorandum of Intent to explore the possibility of the Company’s acquisition of all issued and outstanding stock of Standard Gold Corp.
There is no assurance that the transactions contemplated by the MOI, including, but not limited to the negotiation and execution of a definitive agreement will in fact be consummated.
For additional information, please visit:
www.PhytoMedical.com
To receive future press releases via email, please: visit:
http://www.phytomedical.com/investors.php
To view the full HTML text of this release, please visit:
http://www.phytomedical.com/IR/PressReleases/20100922.php
Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. We currently have no commercial products intended to diagnose, treat, prevent or cure any disease. The statements contained in this press release regarding our ongoing research and development and the results attained by us to-date have not been evaluated by the Food and Drug Administration. There can be no assurance that further research and development, and /or whether clinical trial results, if any, will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that PhytoMedical will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov. The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
PhytoMedical Technologies, Inc.
Ms. Briana Erickson, 800-611-3388
www.PhytoMedical.com
Source: Business Wire (September 22, 2010 - 4:47 PM EDT)
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Positron CEO Discusses Recent Developments, Milestones Ahead
Positron CEO Discusses Recent Developments, Milestones Ahead
Anticipating Strong Growth Acceleration Through 2012
Sep. 22, 2010 (GlobeNewswire) --
INDIANAPOLIS, Sept. 22, 2010 (GLOBE NEWSWIRE) -- Positron Corporation (OTCBB:POSC), a leading molecular imaging company specializing in the field of nuclear cardiology, is pleased to provide a corporate update for shareholders to recap recent developments which are expected to translate into shareholder value.
Positron has spent the past 12 to 18 months strengthening its financial position and focusing its operations on high-growth, profitable markets. The Company's underlying goal is to maximize its market share in the nuclear cardiology field by offering cost-effective systems and value-added PET and radiopharmaceutical products to end-users. In pursuit of its objectives, Positron has established several key initiatives to increase revenue and establish new markets for its product line. It has also taken necessary measures to ensure the Company is in a strong financial position to pursue those opportunities. Positron's corporate vision and strategy follows on the successful development of its FDA-approved state-of-the-art cardiac PET scanner, as well as the expansion of its focus on the radiopharmaceutical industry.
Positron's chief executive officer, Patrick G. Rooney, stated, "We are very excited about the prospects for Positron and its future. The Company's business plan is evolving from purely selling devices to a recurring cash-generating business model by providing end-users with solutions of systems, services and consumables. We have always focused on the bigger picture and in building a company that is well positioned - a lean organization with a focus on products and markets that provide profitable margins and exponential growth."
FINANCIAL STRENGTH:
August, 2010: announced significantly improved balance sheet, financial strength and flexibility as a result of resolving several outstanding debts, including a settlement with certain investors relating to a prior financing transaction. Positron reduced its debt dramatically from approximately $7 million at the end of the first quarter, and is now essentially debt-free.
RECENT ACCOMPLISHMENTS:
September, 2010: opens state-of-the-art training center to educate physicians, technologists, nurses and administrators on the use and benefits of cardiac PET imaging in the daily operations of their facility.
August, 2010: announces strategic alliance with Covidien, one of the world's largest manufacturers of radiopharmaceuticals, for development of an innovative distribution model of radiopharmaceuticals based on Positron's devices.
July, 2010: acquires pharmaceutical manufacturing plant for development of radiopharmaceuticals and contract manufacturing.
March 2010: Positron's Attrius® receives Frost and Sullivan's "Most Innovative Medical Device of the Year" award for 2010.
MILESTONES:
Positron has sold nine PET systems thus far in 2010 and expects to sell an additional four to six by year-end, with an estimated backlog of six. The Company has positioned its resources in anticipation of significant growth over the next few years, with projected sales targets of 40 and 120 systems in 2011 and 2012, and an estimated backlog of 12 and 22 PET systems for each year, respectively.
For 2010, the Company expects revenue to be almost four-times higher than 2009 levels, growing to approximately $6 million, which does not include the additional sales of PET systems noted above. Although expected to occur in 2010, revenue on those sales will not be recognized until the first quarter of 2011.
With the current run rate, and potential revenues generated from its developing radiopharmaceutical businesses, Positron is anticipating significant growth over the next few years. The Company expects to experience growth across all product lines, including PET systems, unit dose delivery systems and radiopharmaceutical sales and sales generated through radiopharmaceuticals manufactured by the Company.
Positron expects its rapidly developing radiopharmaceutical business will represent a larger portion of its revenue mix in the future. It is expected by 2013 radiopharmaceuticals will account for more than 30 percent of Positron's sales.
LOOKING AHEAD:
As a result of the acquisition of a radiopharmaceutical manufacturing plant, Positron has accelerated its pharmaceutical growth plans by 12 months.
Positron has plans to immediately deploy its Nuclear Cardio-Assist™ automated unit dose delivery device for distribution of Covidien radiopharmaceuticals, and expects income from this revenue-sharing arrangement to expand significantly in the future.
Positron expects to explore additional strategic interests that advance PET imaging systems and radiopharmaceutical distribution.
The Company plans to evaluate all organic and strategic partnership opportunities and will continue to engage in more robust and rewarding business development opportunities.
Positron has built its expertise and its business model on the rapidly growing nuclear cardiology field. Nuclear cardiology radiopharmaceutical sales are expected to reach $2.1 billion by 2014 (Bio-Tech Systems, 2008), and the market has never been stronger for cardiac PET and efficient radiopharmaceutical distribution. The Company believes by advancing its market share in these areas and combining that focus with increased market awareness and name recognition, together, will result in returned value for its shareholders.
About Positron: Positron is a molecular imaging company focused on Nuclear Cardiology. Positron utilizes its proprietary product line to provide unique solutions to the Nuclear Medicine community ranging from imaging to radiopharmaceutical distribution. Positron products include: the Attrius(TM), a PET imaging device; the Pulse(R), a SPECT imaging device; the Nuclear Pharm-Assist(R), an automated radiopharmaceutical distribution device; and the Tech-Assist(TM), a radiopharmaceutical injection shield. More information about Positron is available at www.positron.com.
Forward Looking Statements: Statements in this document contain certain 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, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance and may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Positron Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Positron assumes 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. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission.
CONTACT: Positron Corporation
(317)576-0183
Source: Globe Newswire (September 22, 2010 - 5:30 PM EDT)
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YouBlast Global Provides Honeymag.Com Update
YouBlast Global Provides Honeymag.Com Update
Website continues to show viral growth in all major web metric
categories
Sep. 22, 2010 (Business Wire) -- YouBlast Global(YBLT.OB), a New York City based digital media company, today provided a metrics update on Honeymag.com. All site data has been tracked utilizing Google Analytics. The table below details results from June, July, and August:
Raw Traffic Data
Month Visits Pageviews Uniques Impressions
June 220,034 384,551 145,095 655,502
July 454,976 613,800 236,345 771,771
Aug 821,085 1,027,279 352,951 877,065
“The strength of our site metrics throughout the historically slower summer months, underscores what a valuable advertising medium Honeymag.com is becoming for targeting our core audience of multicultural females,” stated Jeffrey D. Forster, Chief Executive Officer of YouBlast Global. Forster continued, “Our ability to create original, relevant, and timely content in multiple mediums provides an unparalleled ecosystem for the interaction of our users and the brands looking to target these individuals.”
About YouBlast Global
YouBlast Global operates Honeymag.com, an online magazine, and Honeytv , an online video portal, and is preparing to launch Youblast, an easy-to-use media publishing platform. YouBlast serves as a centralized hub to managing media across all of your social networks. YouBlast provides an innovative way to publish with single click storage, while automatically creating a personal media channel. This allows users to manage, organize, and share all the digital content in their lives instantly. The company also owns a database of approximately 4.2 million names in the 18 to 49 urban demographic. The company was founded in 2005 by Philmore Anderson IV, a former music and brand executive, and is based in SOHO, NYC.
Forward Looking Statement:
This press release contains forward-looking statements relating to the Company. These forward-looking statements relate to future events or our future financial performance and are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements for a number of important factors. These factors include, among others, the successful development and introduction of new products and services, the successful integration of recent and future acquisitions, reliance on third party suppliers and ability to protect intellectual property. The Company can give no assurance as to whether these conditions will continue, or if they change, how such changes may affect the Company’s current expectations. While the Company may, from time to time, revise its outlook or issue guidance, it assumes no obligation to do so. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. Additional information regarding these and other factors may be found in the Company’s SEC filings, including without limitation, the Company’s Form 10-K and Forms 10-Q.
Investors:
YouBlast Global
Jordan Silverstein, 212-343-9200
Vice President of Finance /Investor Relations
jsilverstein@youblast.com
Source: Business Wire (September 22, 2010 - 5:43 PM EDT)
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Cono Italiano and TurboChef Heat Up Pizza Cone Partnership
Cono Italiano and TurboChef Heat Up Pizza Cone Partnership
Sep. 22, 2010 (Marketwire) --
RED BANK, NJ -- (Marketwire) -- 09/22/10 -- Cono Italiano, Inc. (OTCBB: CNOZ), the exclusive license holder for the North American Distribution and Manufacturing rights for "pizza cono," a one-of-a-kind, drip-free, cone shaped pizza made from proprietary dough, is pleased to announce a strategic partnership with TurboChef, the leading manufacturer of high efficiency ovens.
Under the partnership, Cono Italiano and the Executive Chefs of TurboChef, rigorously tested and developed the ideal Turbo Oven settings for the "pizza cones" and cones prepared with cheese steak, tacos, chicken parmigiana and egg and cheese. The settings will be pre-programmed in the Tornado Oven to perfectly cook a single cone, four cones or six cones in the same batch.
"The Tornado Oven will be instrumental in maintaining a consistent, high-quality experience for consumers every time they enjoy a delicious and nutritious pizza cone," said Mitchell Brown, CEO, Cono Italiano. "The innovation of the Tornado Oven maintains the integrity of the pizza cone by keeping the dough crispy and crunchy. Consumers can feel good about purchasing their favorite cone flavors that use fresh ingredients at a variety of fast food chains, convenience stores and supermarkets."
About TurboChef
Tornado speed cook oven was designed for foodservice operators who need speed, space and quality. The Tornado bakes, roasts, toasts, browns and broils food evenly and consistently up to 12 times faster than conventional methods. The Tornado employs a patented combination of high speed forced convection heating, dual microwaves and an infrared heating element to deliver quality food with unprecedented throughput. The Tornado is a small, compact and UL certified ventless which eliminates the need for expensive ventilation and fire suppression systems. Because the Tornado installs virtually anywhere, foodservice operators are maximizing space, generating efficiencies, minimizing costs and increasing profits.
About Cono Italiano, Inc.
Cono Italiano, Inc. owns the North American distribution and manufacturing rights for Pizza Cono. This Pizza Cone is designed to be a drip free, spill free cone-shaped pizza made of proprietary dough and filled with freshly selected ingredients. The Company intends that the Pizza Cone will be distributed through the fast food market. The Pizza Cone will be distributed to quick-service restaurants (QSR), takeaways, and leisure locations. These establishments include typical fast food chains, supermarkets, convenience stores, entertainment facilities and sports arenas. Sales of frozen pizza in 2009 were $4.4 billion making it one of the fastest growing categories in supermarkets and convenience stores. For more information please visit www.conoitaliano.com
Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Actual results may differ materially from forward-looking statements due to various factors beyond the control of the Company. For further information regarding risks and uncertainties associated with the Company's business, please refer to the Company's filings which are publicly available on the website of the U.S. Securities and Exchange Commission.
Contact:
Cono Italiano, Inc.
Mitchell Brown
CEO
1-877-330-2666
Source: Marketwire (September 22, 2010 - 5:56 PM EDT)
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Del Toro Silver Signs Letter of Intent for Orofino Gold-Silver Project
Del Toro Silver Signs Letter of Intent for Orofino Gold-Silver Project
Sep. 22, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/22/10 -- Del Toro Silver Corp. (OTCBB: DTOR) ("Del Toro" or the "Company") is pleased to announce they have signed a non-binding letter intent to acquire a seventy percent (70%) undivided interest in the Orofino Property (the "Property") in the state of Sonora, Mexico.
The Property consists of 17 concessions totaling 8,291 hectares. In the early 1990's Minera Teck S.A. de C.V. completed over 6,000 meters of reverse circulation drilling producing highlighted results of 3.89 g/t gold over 8 meters true width and 2.54 g/t gold and 71.3 g/tover 7.6 meters; and channel chip samples of highly altered rock reported to have assays of over 50g/t gold. There are currently 10 known mineralized targets and two strong silica, iron-oxide anomalies defined on the Property. Small scale historic production from the Orofino open pit during the mid 1990's produced a reported 60,000 tonnes of ore grading approximately 7 grams per tonne gold.
Mark McLeary, the Company's President states "acquiring Orofino would be a major acquisition for the Company. There is a large amount of data available from previously completed work programs together with multiple drill-ready targets".
The above results are based on information obtained from the NI 43-101 Technical Report on the Orofino Property dated June 5, 2006 prepared by Mitchell Geologic Services Inc. (available at: http://www.sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00022389&fileName=/csfsprod/data82/filings/01120771/00000001/p%3A%5Cdwnlds%5CLaQuintaTechRepJune18%5CLaQuintaTechReportJune20.pdf). All of the samples mentioned in this release were taken by previous owners and operators of the Orofino Project. Preparation and analysis of the samples were done at various laboratories. The reader is cautioned that the results mentioned in this news release are only the highlights and do not represent all of the known results. These results should be considered 'historical' in nature and not relied upon without additional due diligence.
The Letter of Intent is for discussion purposes only and does not constitute a binding agreement or commitment of any nature between the parties. The Transaction is subject to the parties respective due diligence investigations and the entry into a Definitive Agreement on customary terms. There is no assurance that the transaction will be completed as planned or at all.
On behalf of the Board of directors,
"Mark A. McLeary"
President/CEO
Forward Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and should be viewed as "forward-looking statements". Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the United States Securities and Exchange Commission (the "SEC") (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Factors that may cause our forward looking statements to vary include, but are not limited to: our due diligence investigations on the Orofino Property and our ability to complete a definitive agreement on the acquisition of the property, our ability to obtain additional financing, inaccurate estimates of reserves, the inability to obtain the necessary approvals for the further exploration and development of all or any of the Company's prospects; risks inherent in the mining industry; the number of competitors in the mining industry with greater technical, financial and operations resources and personnel; uncertainty about requirements demanded by environmental agencies relating to the Company's projects, the effect of economic and business conditions, the ability to attract and retain skilled personnel and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
Contacts:
Del Toro Silver Corp.
Mark McLeary
President/CEO
604-678-2531
Source: Marketwire (September 22, 2010 - 7:53 PM EDT)
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Nutrition 21 Announces Financial Results for Fiscal Year 2010
Nutrition 21 Announces Financial Results for Fiscal Year 2010
EBITDA From Continuing Operations More Than Doubles; Total Revenues From Continuing Operations Increases 14%
Sep. 22, 2010 (Marketwire) --
PURCHASE, NY -- (Marketwire) -- 09/22/10 -- Nutrition 21, Inc. (OTCBB: NXXI), the developer and marketer of nutritional ingredients for the dietary supplement and functional food and beverage markets, today announced financial results for the fourth quarter and the full fiscal year ended June 30, 2010.
The Company reported total revenues from continuing operations of $2.7 million for the fourth quarter ended June 30, 2010, compared to $2.2 million in the corresponding quarter a year ago. Net loss from continuing operations for the fourth quarter this year was $43 thousand, or $0.0 per diluted common share, compared to a net loss of $0.7 million, or $(0.01) per diluted common share, in the corresponding quarter a year ago.
For the year ended June 30, 2010, the Company reported total revenues from continuing operations of $8.8 million compared to $7.7 million in the comparable period a year ago. The net loss from continuing operations for the year ended June 30, 2010 was $1.8 million or ($0.02) per diluted common share, compared to $4.2 million or ($0.6) per diluted common share in the corresponding period a year ago. EBITDA (earnings before interest, taxes, depreciation and amortization) from continuing operations for the fiscal year ended June 30, 2010 was $2.3 million compared to $1.1 million in the same period a year ago.
The Company completed the sale of its Branded Products Group during the quarter ended December 31, 2009, which has been recorded as a discontinued operation. The improvement in financial results is due to the sale of the discontinued operation, as well as to the Company's emphasis on expense controls, continued strong sales, primarily of chromium picolinate for human consumption, and the introduction and initial shipment of new products.
Net income from discontinued operations for the quarter ended June 30, 2010 was $45 thousand or ($0.00) per diluted common share, compared to a net loss of $20.0 million or ($0.30) per diluted common share in the comparable period a year ago. The fourth quarter of fiscal year 2009 included a $17.5 million non-cash impairment charge relating to goodwill and intangible assets that have indefinite lives.
For the year ended June 30, 2010, the Company reported a net loss from discontinued operations of $1.8 million or ($0.02) per diluted common share compared to a net loss of $16.6 million or ($0.25) per diluted common share in the comparable period a year ago. Last year's loss included a $17.5 million non-cash charge relating to goodwill and intangible assets that have indefinite lives.
Michael Zeher, president and chief executive officer, said, "We are pleased to report that for the year ended June 30, 2010, our operating income was $1.9 million or 22% of total revenues, compared to a prior year operating loss of $16 thousand. Looking forward to fiscal year 2011, we anticipate that our operations will continue to improve. However, we will need to satisfy a requirement to redeem our Preferred Stock in September 2011 for approximately $17.8 million. Also, if the market price of our shares remains at very low levels, we will need to issue significant additional common shares if we continue to pay Preferred dividends in stock instead of cash.
"We believe that delivering consistently positive EBITDA should be noted by our current shareholders as well as potential new investors as an indication of value inherent in our company. The refocusing of our energies to our core ingredients business has already shown itself to be a good decision for the Company. We look forward to developing new business opportunities both here in the U.S. and abroad as we continue to work on achieving consistent profit and revenue growth."
About Nutrition 21
Nutrition 21, Inc., headquartered in Purchase, NY, is a nutritional bioscience company and holds over 30 issued and pending patents associated with chromium picolinate as well as combinations of chromium compounds with other dietary supplement ingredients. Its ingredients are sold to leading dietary supplement, and functional food and beverage manufacturers. For more information please visit http://www.nutrition21.com.
Safe Harbor Provision
This press release may contain certain forward-looking statements. The words "believe," "expect," "anticipate" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on the company's current expectations and are subject to a number of risks and uncertainties, including without limitation: the effect of the expiration of patents; regulatory issues; uncertainty in the outcomes of clinical trials; changes in external market factors; changes in the company's business or growth strategy or an inability to execute its strategy due to changes in its industry or the economy generally; the emergence of new or growing competitors; various other competitive factors; and other risks and uncertainties indicated from time to time in the company's filings with the Securities and Exchange Commission, including its Form 10-K/A for the year ended June 30, 2009. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this press release will in fact occur. Additionally, the company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.
NUTRITION 21, INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
June 30, June 30,
2010 2009
----------- -----------
(unaudited) (unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 935 $ 1,373
Accounts receivable, net 1,495 2,752
Other receivables, net 224 516
Inventories, net 173 3,878
Other current assets 104 467
Property and equipment, net 57 46
Patents, trademarks and other intangibles, net 588 766
Goodwill and other intangibles with indefinite
lives -- 3,636
Other assets 386 1,389
----------- -----------
TOTAL ASSETS $ 3,962 $ 14,823
=========== ===========
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current portion of long-term debt $ -- $ 4,457
Accounts payable 719 4,439
Accrued expenses 1,321 2,218
Deferred income -- 361
Deferred income taxes -- 1,200
8% Series J convertible preferred stock subject
to mandatory redemption 15,068 13,218
----------- -----------
Total liabilities 17,108 25,893
----------- -----------
Stockholders' Deficit (13,146) (11,070)
----------- -----------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 3,962 $ 14,823
=========== ===========
NUTRITION 21, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
(unaudited)
YEAR ENDED
JUNE 30,
2010 2009
--------- ---------
Net sales $ 8,428 $ 7,684
Other revenues 335 348
--------- ---------
Total Revenues 8,763 7,684
--------- ---------
Costs and Expenses
Cost of Revenues 2,087 1,722
Advertising and Promotion 740 625
General and Administrative 3,214 3,883
Research and Development 392 364
Depreciation and Amortization 387 1,106
--------- ---------
Total Costs and Expenses 6,820 7,700
--------- ---------
Operating Income (Loss) 1,943 (16)
Interest expense, net (3,779) (4,370)
--------- ---------
Loss from Continuing Operations (1,836) (4,386)
Discontinued Operations, net (1,820) (16,622)
--------- ---------
Net Loss $ (3,656) $ (20,809)
========= =========
Basic and diluted loss per common share $ (0.04) $ (0.31)
========= =========
Weighted average number of common shares -
basic and diluted 81,388 67,196
========= =========
CONTACT:
Nutrition 21, Inc.
Alan Kirschbaum
914-701-4500
Source: Marketwire (September 22, 2010 - 8:02 PM EDT)
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La Cortez Announces Completion of Mirto #2 Well Underway; Initial Testing to Be Initiated Within the Week
La Cortez Announces Completion of Mirto #2 Well Underway; Initial Testing to Be Initiated Within the Week
Provides Operational Update on Putamayo 4 and Catatumbo Blocks
Sep. 23, 2010 (PR Newswire) --
BOGOTA, Colombia, Sept. 23 /PRNewswire/ -- La Cortez Energy, Inc. ("La Cortez") (OTC: LCTZ) is pleased to provide the following operational update:
(Logo: http://photos.prnewswire.com/prnh/20100527/CL11703LOGO )
(Logo: http://www.newscom.com/cgi-bin/prnh/20100527/CL11703LOGO )
Maranta Block.
Emerald Energy Plc. ("Emerald"), the operator of the Maranta Block where La Cortez will hold a 20% working interest has reached the intended depth of 11,590 feet MD (measured depth) for the Mirto-2 exploratory well. The Mirto-2 well targeted a depth of 11,604 feet in order to test the Villeta formation N, U, and T sands, which are prolific hydrocarbon producers in the Putumayo basin.
This well encountered the Villeta N sand interval at 10,562 feet MD (measured depth), and the Villeta U sand interval at 11,235 feet MD. There were oil and gas shows in both the N and U sands during drilling operations. The Villeta T sand was encountered at 11,438 feet with poor oil and gas shows. These sands were encountered very close to the initial well estimates for formation tops. Emerald and La Cortez have decided to complete the well and conduct an oil production test initially on the lower "U" sand. Based upon the results of this test and other information gathered from the well geology, the "N" sand could be subsequently tested.
The drilling rig will be released shortly after completion of the test and will then be moved to the Agapanto-1 exploration well location [approximately 1.70 kilometers to the south of the Mirto 1 and Mirto 2 location] to initiate drilling operations. The Agapanto-1 well will be drilled to an estimated target measured depth of 11,400 feet in order to test the south part of the structure and the Villeta formation N, U, and T sands. It is expected that drilling operations will start by the end of October and will last for the following two months.
The Mirto-1 well is currently producing at an average rate of 60 bopd of good quality 31.5 degrees API oil with a water cut of approximately 88%. We are planning to carry out a second intervention in the well after drilling operations on the Mirto-2 well have been completed. The purpose of this workover operation is to make additional perforations in the "U" sand interval in order to increase productivity of the well. During production testing on this well, the Villeta U sand interval produced an average oil rate of 731 barrels per day of 32.5o API crude over a 48 hour period with a low average water production (water cut of 26 %) under artificial lift while the Villeta N sand, produced oil of 15 degrees API (American Petroleum Institute) at an average rate of 247 bopd also over a 48 hour period and under artificial lift, with an average water cut of 64%.
The Maranta block covers an area of 90,459 acres (36,608 hectares) in the foreland of the Putumayo Basin in southwest Colombia. Emerald signed its E&P contract with the Agencia Nacional de Hidrocarburos ("ANH"), Colombia's hydrocarbon regulatory agency. La Cortez has fulfilled its payment obligations to Emerald for the drilling and completion of the Mirto-1 well, La Cortez has asked Emerald to file a request with the ANH for the assignment of the 20% working interest in the Maranta block to La Cortez and to assist La Cortez in obtaining its working interest from the ANH through reasonable means. Emerald will pursue this request as soon as it receives the ANH required support documentation from La Cortez, which is expected to be within the next two weeks.
Putumayo-4 Block
Petroleos del Norte S.A. ("Petronorte"), a subsidiary of Petrolatina Plc. (AIM: PELE), as operator of the block, and La Cortez have completed the identification of the number and location of indigenous people and communities in the area along with representatives from the Ministry of the Interior. A total of 7 communities were identified, and the consultation process with these communities has been initiated. Based on this information, the layout for the seismic acquisition has also been completed, resulting in 2D seismic acquisition plan of some 104 km in the north part of the block, where at least two leads have been determined with the reprocessing of some 1,300 km of seismic shot on the block by prior parties. It is expected that the new 2D seismic acquisition will take place by 4th quarter of this year, In addition the company is working on obtaining the environmental permit for the drilling of the exploratory well which would allow for the drilling of the first exploration well on Putumayo 4 during the first half of 2011.
Under the terms of the contract signed with the ANH, the acquisition of at least 103 km of seismic, the drilling of an exploratory well and additional work for a value of US$ 1.60 million have to be conducted before September 2012, when the 3-year term of Phase I ends.
The Putumayo 4 block covers an extension of 51,333 hectares located in the Putumayo Basin. The Putumayo basin is considered one of the areas with the most exploratory potential in Colombia and is quickly becoming a prolific hydrocarbon producer.
Rio de Oro and Puerto Barco Fields
La Cortez, as operator of the fields, and with its joint venture partner Vetra Exploracion y Produccion S.A. have continued to conduct social activities in the area, and have completed a plan to re-initiate production operations on the Puerto Barco field before the end of 1st quarter 2011. This plan includes conducting workover activities in some of the existing wells, not only to determine the mechanical conditions, but also to gather geological information. In addition, the plan includes upgrading the production facilities as well as the access road. Reprocessing of approximately 138 km of 2D is under way.
La Cortez continues evaluating the potential of the Rio de Oro field in order to determine the appropriate actions necessary to re-initiate production operations on this field. La Cortez, through its wholly owned subsidiary, Avante Colombia, holds interests in oil fields covering 11,535 acres in the Catatumbo region in northeast Colombia. La Cortez currently has a 50% participation interest and is the operator of the Rio de Oro and Puerto Barco production contracts with Ecopetrol S.A. in the Catatumbo area, under an operating joint venture with Vetra Exploracion y Produccion S.A. La Cortez and Avante Petroleum have also agreed to enter into a joint venture to develop further exploration opportunities in Colombia.
Andres Gutierrez, President and CEO of La Cortez commented on the announcement, " We look forward to the initiation of testing of the Villeta U sand interval in the near term, and are encouraged by the initial geological data we have seen to date, which closely conforms to our anticipated delineation of the prospect. We are also pleased with the advance in operations on the Putumayo-4 block as well as in the Puerto Barco and Rio de Oro contracts on which we remain optimistic on the hydrocarbon potential. We have funds sufficient to cover the requirements to comply with our current obligations under the existing contracts. We continue to be attentive to other opportunities in a variety of basins in Colombia that we believe offer La Cortez the opportunity to build a strong production base and benefit from exploration upside."
About La Cortez Energy, Inc.
La Cortez Energy, Inc. is an early stage oil and gas exploration and production company currently pursuing a business strategy in the energy sector in South America, with an initial focus on identifying oil and gas exploration and production opportunities in Colombia. To that end, the Company has established a branch, La Cortez Energy Colombia, Inc., with offices in Bogotá, Colombia, and has signed a Joint Operating Agreement for a 50% working interest in the Putumayo 4 block and a Joint Venture agreement for a 20% working interest in the Maranta block and recently acquired the interests of Avante Colombia in the Rio de Oro and the Puerto Barco fields, all in Colombia.
For more information, please contact the Company's Investor Relations department at 256-438-5430 or by email info@lacortezenergy.com
www.lacortezenergy.com
Forward-Looking Statements
Certain statements in this news release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. There can be no assurance that the Putumayo 4, Maranta and Rio de Oro and Puerto Barco projects will be successfully developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company, including, but not limited to, the Company's ability to identify corporate acquisition and/or joint venture opportunities in the energy sector in Colombia, Peru and Brazil and, more generally, in Latin America, and to establish the technical and managerial infrastructure, and to raise the required capital, to take advantage of, and successfully participate in such opportunities, future economic conditions, political stability and energy prices. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
SOURCE La Cortez Energy, Inc.
The Company's Investor Relations department, +1-256-438-5430, info@lacortezenergy.com
Source: PR Newswire (September 23, 2010 - 3:00 AM EDT)
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Rostock Ventures Corp.: Corporate Update
Rostock Ventures Corp.: Corporate Update
Sep. 23, 2010 (Marketwire) --
SAN DIEGO, CALIFORNIA -- (Marketwire) -- 09/23/10 -- Rostock Ventures Corp. (the "Company") (OTCBB: ROSV), a mining exploration and development company formed to acquire, develop, and exploit natural resource properties, wishes to announce that the Company is actively evaluating its core properties and anticipates that a work program may be initiated in the near future. Also, the board continues to evaluate mining properties throughout North America for acquisition.
Rostock's current projects include the Hants County, Nova Scotia Canada Gold Prospect, which is located in an area generally known as the Central Rawdon Mines and includes a past producing gold mine. Historical data indicates that from 1897 to 1954 the Central Rawdon Mines, as a whole, produced approximately 6,744 ounces of gold from 5,335 tons crushed material an average grade of 1.264 ounce per ton gold.
Other prospects held by the Company include the McVicar Lode Mining Claim located in Southern Nevada and the Yukon Claim. The Yukon Claim consists of approximately 3200 contiguous acres in the globally prolific mining region known as the Tintina Gold Belt and is in close proximity to the "White Gold" discovery of Underworld Resources, recently acquired by Kinross.
Luis Carrillo, President and CEO, stated that, "With gold and silver prices near all time highs, management anticipates that the company will become more active within the current core projects it has."
For additional information and map of the properties, please visit www.rostockcorp.com.
On behalf of the board:
Luis Carrillo, President
Forward-looking statements
Some of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of exploration programs; competition from other exploration or mining companies; and the company's ability to obtain additional funding required to conduct its exploration activities. Please refer to the company's filings with the Securities and Exchange Commission for a comprehensive list of risk factors that could cause actual results, performance or achievements of the company to differ materially from those expressed or implied in such forward looking statements. The company undertakes no obligation to update or revise any forward-looking statements.
Contacts:
Rostock Ventures Corp.
Luis Carrillo
President
(619) 399-3090
info@rostockcorp.com
www.rostockcorp.com
Source: Marketwire (September 23, 2010 - 3:01 AM EDT)
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La Cortez Announces Completion of Mirto #2 Well Underway; Initial Testing to Be Initiated Within the Week
La Cortez Announces Completion of Mirto #2 Well Underway; Initial Testing to Be Initiated Within the Week
Sep. 23, 2010 (Canada NewsWire Group) --
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Provides Operational Update on Putamayo 4 and Catatumbo Blocks
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BOGOTA, Colombia, Sept. 23 /CNW/ -- La Cortez Energy, Inc. ("La Cortez") (OTC: LCTZ) is pleased to provide the following operational update:
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Maranta Block.
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Emerald Energy Plc. ("Emerald"), the operator of the Maranta Block where La Cortez will hold a 20% working interest has reached the intended depth of 11,590 feet MD (measured depth) for the Mirto-2 exploratory well. The Mirto-2 well targeted a depth of 11,604 feet in order to test the Villeta formation N, U, and T sands, which are prolific hydrocarbon producers in the Putumayo basin.
This well encountered the Villeta N sand interval at 10,562 feet MD (measured depth), and the Villeta U sand interval at 11,235 feet MD. There were oil and gas shows in both the N and U sands during drilling operations. The Villeta T sand was encountered at 11,438 feet with poor oil and gas shows. These sands were encountered very close to the initial well estimates for formation tops. Emerald and La Cortez have decided to complete the well and conduct an oil production test initially on the lower "U" sand. Based upon the results of this test and other information gathered from the well geology, the "N" sand could be subsequently tested.
The drilling rig will be released shortly after completion of the test and will then be moved to the Agapanto-1 exploration well location [approximately 1.70 kilometers to the south of the Mirto 1 and Mirto 2 location] to initiate drilling operations. The Agapanto-1 well will be drilled to an estimated target measured depth of 11,400 feet in order to test the south part of the structure and the Villeta formation N, U, and T sands. It is expected that drilling operations will start by the end of October and will last for the following two months.
The Mirto-1 well is currently producing at an average rate of 60 bopd of good quality 31.5 degrees API oil with a water cut of approximately 88%. We are planning to carry out a second intervention in the well after drilling operations on the Mirto-2 well have been completed. The purpose of this workover operation is to make additional perforations in the "U" sand interval in order to increase productivity of the well. During production testing on this well, the Villeta U sand interval produced an average oil rate of 731 barrels per day of 32.5o API crude over a 48 hour period with a low average water production (water cut of 26 %) under artificial lift while the Villeta N sand, produced oil of 15 degrees API (American Petroleum Institute) at an average rate of 247 bopd also over a 48 hour period and under artificial lift, with an average water cut of 64%.
The Maranta block covers an area of 90,459 acres (36,608 hectares) in the foreland of the Putumayo Basin in southwest Colombia. Emerald signed its E&P contract with the Agencia Nacional de Hidrocarburos ("ANH"), Colombia's hydrocarbon regulatory agency. La Cortez has fulfilled its payment obligations to Emerald for the drilling and completion of the Mirto-1 well, La Cortez has asked Emerald to file a request with the ANH for the assignment of the 20% working interest in the Maranta block to La Cortez and to assist La Cortez in obtaining its working interest from the ANH through reasonable means. Emerald will pursue this request as soon as it receives the ANH required support documentation from La Cortez, which is expected to be within the next two weeks.
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Putumayo-4 Block
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Petroleos del Norte S.A. ("Petronorte"), a subsidiary of Petrolatina Plc. (AIM: PELE), as operator of the block, and La Cortez have completed the identification of the number and location of indigenous people and communities in the area along with representatives from the Ministry of the Interior. A total of 7 communities were identified, and the consultation process with these communities has been initiated. Based on this information, the layout for the seismic acquisition has also been completed, resulting in 2D seismic acquisition plan of some 104 km in the north part of the block, where at least two leads have been determined with the reprocessing of some 1,300 km of seismic shot on the block by prior parties. It is expected that the new 2D seismic acquisition will take place by 4th quarter of this year, In addition the company is working on obtaining the environmental permit for the drilling of the exploratory well which would allow for the drilling of the first exploration well on Putumayo 4 during the first half of 2011.
Under the terms of the contract signed with the ANH, the acquisition of at least 103 km of seismic, the drilling of an exploratory well and additional work for a value of US$ 1.60 million have to be conducted before September 2012, when the 3-year term of Phase I ends.
The Putumayo 4 block covers an extension of 51,333 hectares located in the Putumayo Basin. The Putumayo basin is considered one of the areas with the most exploratory potential in Colombia and is quickly becoming a prolific hydrocarbon producer.
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Rio de Oro and Puerto Barco Fields
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La Cortez, as operator of the fields, and with its joint venture partner Vetra Exploracion y Produccion S.A. have continued to conduct social activities in the area, and have completed a plan to re-initiate production operations on the Puerto Barco field before the end of 1st quarter 2011. This plan includes conducting workover activities in some of the existing wells, not only to determine the mechanical conditions, but also to gather geological information. In addition, the plan includes upgrading the production facilities as well as the access road. Reprocessing of approximately 138 km of 2D is under way.
La Cortez continues evaluating the potential of the Rio de Oro field in order to determine the appropriate actions necessary to re-initiate production operations on this field. La Cortez, through its wholly owned subsidiary, Avante Colombia, holds interests in oil fields covering 11,535 acres in the Catatumbo region in northeast Colombia. La Cortez currently has a 50% participation interest and is the operator of the Rio de Oro and Puerto Barco production contracts with Ecopetrol S.A. in the Catatumbo area, under an operating joint venture with Vetra Exploracion y Produccion S.A. La Cortez and Avante Petroleum have also agreed to enter into a joint venture to develop further exploration opportunities in Colombia.
Andres Gutierrez, President and CEO of La Cortez commented on the announcement, " We look forward to the initiation of testing of the Villeta U sand interval in the near term, and are encouraged by the initial geological data we have seen to date, which closely conforms to our anticipated delineation of the prospect. We are also pleased with the advance in operations on the Putumayo-4 block as well as in the Puerto Barco and Rio de Oro contracts on which we remain optimistic on the hydrocarbon potential. We have funds sufficient to cover the requirements to comply with our current obligations under the existing contracts. We continue to be attentive to other opportunities in a variety of basins in Colombia that we believe offer La Cortez the opportunity to build a strong production base and benefit from exploration upside."
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About La Cortez Energy, Inc.
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La Cortez Energy, Inc. is an early stage oil and gas exploration and production company currently pursuing a business strategy in the energy sector in South America, with an initial focus on identifying oil and gas exploration and production opportunities in Colombia. To that end, the Company has established a branch, La Cortez Energy Colombia, Inc., with offices in Bogotá, Colombia, and has signed a Joint Operating Agreement for a 50% working interest in the Putumayo 4 block and a Joint Venture agreement for a 20% working interest in the Maranta block and recently acquired the interests of Avante Colombia in the Rio de Oro and the Puerto Barco fields, all in Colombia.
For more information, please contact the Company's Investor Relations department at 256-438-5430 or by email info@lacortezenergy.com
<<
www.lacortezenergy.com
Forward-Looking Statements
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Certain statements in this news release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. There can be no assurance that the Putumayo 4, Maranta and Rio de Oro and Puerto Barco projects will be successfully developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company, including, but not limited to, the Company's ability to identify corporate acquisition and/or joint venture opportunities in the energy sector in Colombia, Peru and Brazil and, more generally, in Latin America, and to establish the technical and managerial infrastructure, and to raise the required capital, to take advantage of, and successfully participate in such opportunities, future economic conditions, political stability and energy prices. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
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The Company's Investor Relations department, +1-256-438-5430, info@lacortezenergy.com Web Site: http://www.lacortezenergy.com
Source: Canada Newswire (September 23, 2010 - 3:01 AM EDT)
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Cannabis Business University Launches First Medical Marijuana Educational Seminar in Hawaii Setting the Standard for Education, Regulation, Compliance and Wellness -- CannaBizU Cites Time Magazine's Article "Paradise Paradox": Why Life in Hawaii Leads to Early Death
Cannabis Business University Launches First Medical Marijuana Educational Seminar in Hawaii Setting the Standard for Education, Regulation, Compliance and Wellness -- CannaBizU Cites Time Magazine's Article "Paradise Paradox": Why Life in Hawaii Leads to Early Death
CannaBizU Is Contributing to the Medical Marijuana, Cannabis and Hemp Movement by Empowering Patients, Medical Professionals and the General Public Through Education -- CannaBizU Fosters Entrepreneurial Growth by Helping Students Obtain the Knowledge, Ski
Sep. 23, 2010 (Marketwire) --
HONOLULU, HI -- (Marketwire) -- 09/23/10 -- Cannabis Business University's President, Clifford J Perry, is proud to announce the successful launch of the Medical Marijuana Educational Series in Hawaii.
"We appreciate the people that attended the all-day event to learn about the medicinal and agricultural benefits of Cannabis and Hemp and to engage and participate in the process of determining the regulation and compliance issues that face the State of Hawaii."
Recent Time Magazine article cites that native Hawaiians are at greater risk of dying early compared to white Americans throughout their lifetimes. Older Hawaiians, over age 65, are dying earlier than African Americans of their same age as well. While it is not clear what is behind the higher Hawaiian mortality, the study's authors speculate that high obesity rates and diabetes, as well as mental illness and substance abuse among younger members may be contributing factors. http://news.yahoo.com/s/time/20100922/hl_time/httphealthlandtimecom 20100922thinklivinginhawaiicanextendyourlifethinkagainxidrssfullhealthsciyahoo
Cannabis Business University would like to thank the Hawaii Convention Center, Weedmaps.com, Cannabis Science (OTCBB: CBIS) CEO - Dr Robert Melamede, PhD & CFO - Richard Cowan, David J. Barton, MD, of Hawaiian-Pacific Pain and Palliative Care, The Law Offices of Jack Schweigert, Dennis "Bumpy" Kanahele - Leader of the Nation of Hawaii, Drug Policy Forum of Hawaii, Green Hands of Aloha and South Shore, Oahu Glass, NORML & Americans for Safe Access of Oahu for their participation in the Honolulu event.
Cannabis Business University's Medical Marijuana Educational Series of Hawaii is proud to present The Guru of Ganja™ "Let's Get Growing" with Ed Rosenthal, cultivation expert, Dr Charlie Webb and organizations Green Aid, Patients Without Time Hawaii on September 25th at the Sheraton Hotel Kona, Hawaii, sponsored by Cloud 9 Emporium.
Cannabis Business University's Strategic Partner Group is dedicated to working with local, state and federal governments and regulatory agencies to ensure the delivery of factual information. CBUSPG is an exclusive group of corporate clients which includes multinational corporations, entrepreneurial businesses, private equity firms and non-profit organizations.
Cannabis Business University is continually evolving its curriculum, career advisory services and professional networking for individuals seeking knowledge, career and business opportunities across the United States and the World.
Clifford J Perry, President of Cannabis Business University, was quoted in regards to Hawaii, "It is our Mission to empower people through education and networking, to promote agriculture through sustainable family farming, and to identify alternative methods to promote wellness and integrate complementary medical solutions with traditional medicine."
CannaBizU is planning a National Medical Marijuana Educational Tour of the United States in 2011. License agreements to operate Cannabis Business University Campuses across the nation will be available.
Info: www.CannabisBusinessUniversity.com
Email Contact
877-4-420-411
Source: Marketwire (September 23, 2010 - 4:20 AM EDT)
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