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why beatin' cheap oilers MOGI PSED
Geez pounding them down as the old dogs IIP & ERTH ramp up!
hmmm Velly odd behavior. Guess glossy mailers pumps failed.
MCLD in deep dodo Pref & Common
Don't see Prefs hurt in a possible Bk too often.
McLeodUSA Receives Nasdaq Delisting Notice
Friday June 17, 8:00 am ET
CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--June 17, 2005--McLeodUSA Incorporated (Nasdaq:MCLD - News), one of the nation's largest independent, competitive telecommunications services providers, announced today that it received on June 14, 2005, a notice from The Nasdaq Stock Market, Inc. ("Nasdaq") indicating that, as previously disclosed, the Company does not comply with Nasdaq Marketplace Rule 4310(c)(2)(B)(ii), which requires companies listed on The Nasdaq SmallCap Market to maintain a market value of listed securities of $35 million, and that the Company had not regained compliance in accordance with Marketplace Rule 4310(c)(8)(c). The Company also received on June 16, 2005 notice from Nasdaq that its common stock had not regained compliance with Nasdaq Marketplace Rule 4310(c)(4), which requires listed companies to maintain a minimum bid price of at least $1.00 per share. As a consequence, subject to appeal, the Company was notified that its Class A Common Stock and Series A Preferred Stock would be delisted from The Nasdaq SmallCap Market at the opening of business on June 23, 2005.
In light of the previously announced strategic and financial restructuring alternatives it is pursuing, the Company has determined not to request a hearing to appeal Nasdaq's determination to delist the Company's securities.
There can be no assurances that the Company will be able to identify a strategic partner or buyer, reach agreement with any such strategic partner or buyer, or reach an agreement with its lenders regarding a capital restructuring. As previously announced, the Company is exploring these alternatives pursuant to a forbearance agreement between the Company and its bank lenders. The forbearance period runs through July 21, 2005. In the event these alternatives are not available to the Company, it is likely that the Company will elect to forgo making future principal and interest payments to its lenders while it continues to seek an extended forbearance period or permanent capital restructuring from its lenders, or alternatively, the Company could be forced to seek protection from its creditors.
While the Company continues to explore a variety of options with the view toward maximizing value for all of its stakeholders, none of the options presented to date have suggested that there will be any recovery for the Company's current preferred stock or common stock holders. Accordingly, it is unlikely that holders of the Company's preferred stock or common stock will receive any recovery in a capital restructuring or other strategic transaction.
The Company's securities will not be immediately eligible to trade on the OTC Bulletin Board or in the "Pink Sheets." The securities may become eligible if a market maker makes application to register in and quote the security in accordance with SEC Rule 15c2-11, and such application is cleared. Only a market maker, not the Company, may file a Form 211. The Company is not aware that a market maker intends to make such an application.
About McLeodUSA
McLeodUSA provides integrated communications services, including local services, in 25 Midwest, Southwest, Northwest and Rocky Mountain states. The Company is a facilities-based telecommunications provider with, as of March 31, 2005, 38 ATM switches, 39 voice switches, 699 collocations, 432 DSLAMs and approximately 2,300 employees. As of April 16, 2002, Forstmann Little & Co. became a 58% shareholder in the Company. Visit the Company's Web site at www.mcleodusa.com
at levels advantageous to the Company. LOL
Well geez why else are they called BAGHOLDERS. Like any
Company would ever harm its money lenders. R/S S-8s Es....
Seems no one assumes any risk whatsoever anymore.
I mean who doesn't know there is a risk of losing your money
when just a mere purchase has you under water. bid<ask
So here's the "Lesser Fool" theory.
News for 'PMTRE' - (Investor Notice: Murray, Frank & Sailer LLP Has Commenced a Shareholder Class Action Against PEMSTAR, Inc. -- PMTR)
NEW YORK, Jun 16, 2005 (PRIMEZONE via COMTEX) -- Murray, Frank & Sailer LLP has
filed a class action lawsuit in the United States District Court for the
District of Minnesota on behalf of shareholders who purchased or otherwise
acquired the securities of PEMSTAR, Inc. ("PEMSTAR" or the "Company")
(Nasdaq:PMTR) between January 29, 2003 to January 24, 2005, inclusive (the
"Class Period"). The action is captioned The Cornelia I. Crowell GST Trust v.
PEMSTAR, Inc., et al., Civ. No. 05-1182 (D. Minn.).
If you purchased or otherwise acquired PEMSTAR securities on any world exchange
between January 29, 2003 to January 24, 2005, and sustained damages, you may, no
later than August 15, 2005, move the Court to serve as lead plaintiff.
Shareholders outside the United States may also join the action, regardless of
which exchange was used to purchase the securities. You can join this class
action as lead plaintiff online at
http://www.murrayfrank.com/CM/NewCases/NewCases.asp. If you would like to
discuss this action, this announcement, or your rights and interests, please
contact plaintiff's counsel Eric J. Belfi or Christopher Hinton of Murray, Frank
& Sailer LLP by e-email at info@murrayfrank.com or by telephone at (800)
497-8076.
The complaint charges PEMSTAR and certain of the Company's executive officers,
including Allen Berning, Roy Bauer, and Gregory Lea, with issuing materially
false and misleading financial statements to the investing public regarding the
Company's financial condition and outlook in violation of Sections 10(b) and
20(a) of the Securities Exchange Act of 1934 and Rule 10b 5 promulgated
thereunder.
PEMSTAR is a provider of electronics manufacturing services to OEMs in the
communications, computing, data storage, industrial and medical equipment
markets. The complaint alleges that during the Class Period defendants issued
numerous positive statements that misrepresented the true financial status of
the Company and its business prospects. In fact, throughout the Class Period,
PEMSTAR suffered from extensive liquidity constraints that inhibited the
Company's ability to achieve the necessary gross margin expansion that was
required for the Company to create and sustain accounting profits. The Complaint
alleges that the defendants failed to disclose that the Company needed gross
margins of at least 9% in order to achieve profitability, a level which
defendants knew it was years away from attaining, if ever. Moreover, defendants
further misrepresented the Company's financial condition by understating its
liabilities associated with its Mexican facilities and overstating the Company's
accounts receivables which had become materially impaired. The complaint alleges
that, in part, defendants carried out the fraudulent scheme in order to revive
and strengthen the Company's image, as perceived by its customer base, and
enable the Company to raise much needed capital through the issuance of its
common stock to the public at levels advantageous to the Company.
On January 24, 2005, the Company issued a press release announcing that it was
revising its outlook for the fiscal 2005 third quarter, implementing additional
cost-reduction initiatives and restating its financial results for its fiscal
year ended March 31, 2004, due to accounting discrepancies at its Mexico
facility. By the time the Company made this disclosure, the Company's common
stock had declined nearly 70% from its Class Period high.
Murray, Frank & Sailer LLP and its predecessor firms have devoted its practice
to shareholder class actions and complex commercial litigation for more than
fifteen years and have recovered hundreds of millions of dollars for
shareholders in class actions throughout the United States.
More information on this and other class actions can be found on the Class
Action Newsline at www.primezone.com/ca.
SOURCE: Murray, Frank & Sailer LLP
By Staff
CONTACT: Murray, Frank & Sailer LLP Eric J. Belfi Christopher Hinton (800) 497-8076 or (212) 682-1818 Fax: (212) 682-1892 Email: info@murrayfrank.com
(C) 2005 PRIMEZONE, All rights reserved.
ADVC fix-up back in biz News
Pacific Magtron Signs Interim Management Agreement With Micro Technology Concepts
Transaction Will Provide Means for Pacific Magtron to Operate While Joint Venture is Submitted for Approval by the Court
6/16/2005 2:39:28 PM
NEW YORK, June 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Advanced Communications Technologies, Inc. (ADVC) and its majority owned subsidiary, Pacific Magtron International Corporation (OTC Bulletin Board: PMIC), announced today that effective June 7, 2005, Pacific Magtron, Inc., an operating subsidiary of Pacific Magtron International Corporation ("PMIC"), has signed a definitive Interim Management Agreement with Micro Technology Concepts, Inc., a wholly owned subsidiary of MTC Direct and a privately held California-based distributor of storage and media products. As a result, Pacific Magtron, who is currently under Chapter 11 bankruptcy protection, will be able to continue operations distributing computers, peripherals and components to customers from its current location in Milpitas, California.
Under the terms of the agreement, which was approved by the bankruptcy court yesterday, Micro Technology Concepts will, for a period of 60 days, or upon earlier approval by the court of a proposed joint venture, manage the operations of Pacific Magtron's business and supply the company with merchandise to ensure ample inventory and uninterrupted service to Pacific Magtron's customers. In return, Micro Technology Concepts will receive a fee in the form of a percentage of the gross margin generated by Pacific Magtron's sales. Micro Technology Concepts is Pacific Magtron's largest vendor and secured creditor, and has been the company's supplier for several years.
The signed agreement provides an opportunity for Micro Technology Concepts to expand its U.S. customer base. Additionally, and subject to approval by the court, both parties have agreed to enter into a binding joint venture, to be named Pacific Connections, LLC. Under the terms of the joint venture, Pacific Magtron will receive 50% of the profits generated by Pacific Connections during its first two years of operations in return for its trademarks, goodwill, customer relationships and access to staff. Pacific Magtron's profits generated by Pacific Connections will be used to satisfy creditors of Pacific Magtron. In addition, Pacific Connections will assist in selling Pacific Magtron's remaining inventory and collecting its accounts receivables without additional fees.
Martin Nielson, chairman and chief executive officer of PMIC, stated, "This new relationship with Micro Technology is an important first step in the re-launch of the company and provides the basis for a solution for Pacific Magtron's creditors." Nielson continued, "When the company filed for voluntary bankruptcy because it could not continue operations, we were determined to find an operating partner to manage our legacy business and protect our creditors. I am confident that Roy Han, president of Micro Technology, and his team of motivated seasoned professionals will prove to be a productive partner in serving our customers while we work together to secure approval for Pacific Magtron's reorganization plan."
"I believe that we are a superior fit for Pacific Magtron's computer, peripheral and software distribution business," said Han, adding, "I have been doing business with this company for over ten years, so we already know that we can work well together, which gives us an immediate advantage in making this effort successful. Restoring Pacific Magtron's customer service and creating future value for our businesses under one company name once the joint venture is consummated will be our collective goal." Han closed, "We are committed to supporting Pacific Magtron's reorganization and look forward to working more closely with their team."
Wayne Danson, president and chief executive officer of Advanced Communications, said, "We have been working very closely with PMIC's management and with Roy Han to bring this planned joint venture to a proper conclusion. This represents the first in a series of new strategies that we intend to execute in support of our overall plan and investment in PMIC."
About Advanced Communications Technologies, Inc.
Advanced Communications Technologies, Inc. is a publicly traded New York City-based technology and services holding company that, through its majority owned subsidiary, Pacific Magtron International Corporation, is a distributor of hardware components, computer systems and software products and, through its wholly owned subsidiary and principal operating unit Encompass Group Affiliates, Inc., is a provider of board-level repair of technical products to third-party warranty companies, OEMs, national retailers and national office equipment dealers. Service options include advance exchange, depot repair, call center support, parts and warranty management for office equipment, fax machines, printers, scanners, laptop computers, monitors and multi-function units, including high-end consumer electronics such as PDAs and digital cameras. Additionally, through its wholly owned investment subsidiary Hudson Street Investments, Inc., Advanced Communications makes strategic minority investments in public and private companies. For more information, visit Advanced Communications' website at http://www.advancedcomtech.net .
A profile for investors on Advanced Communications may be found at the website http://www.hawkassociates.com/advancedcommunications/profile.htm .
An online investor relations kit containing Advanced Communications' press releases, SEC filings, current Level II price quotes, interactive Java stock charts and other useful information for investors can be found at http://www.hawkassociates.com and http://www.hawkmicrocaps.com .
About Pacific Magtron International Corporation
Pacific Magtron International Corporation, based in Milpitas, California, and currently operating under Chapter 11 bankruptcy protection, was a distributor, e-commerce reseller and system/solution provider of a wide range of systems, hardware components and software with a historically significant presence in online sales. Its customer base included a wide spectrum of technology-based suppliers to the consumer, corporate, education and government markets. Pacific Magtron, Inc., its wholly owned subsidiary and principal operating business, has offered over 1,800 different computer products from more than 50 vendors including a line of peripherals sold under its trademarked "EZ-Media" brand name. It maintains long-standing relationships with many of the industry's most recognizable and innovative computer peripheral manufacturers, including Microsoft, Sony, Plextor, Creative Labs, Adaptec, ATI, Kingston and Logitech, among others. For more information, visit Pacific Magtron's website at http://www.pacificmagtron.com .
About Micro Technology Concepts, Inc.
Micro Technology Concepts, Inc. is a wholly owned subsidiary of MTC Direct and a Southern California-based provider of mass storage solutions. It is an independent hard disk drive and mass storage product distributor, with over 2,500 storage resellers worldwide and approximately $400 million in revenue. Micro Technology Concepts has offices throughout the United States, Europe and Asia and has been ranked by VAR Magazine as one of the top storage VARs since 1999. While focusing on its core business as a mass storage specialist in the industry, Micro Technology Concepts has been actively pursuing emerging storage-related growth opportunities through mergers, acquisitions and by partnering with its technology alliances, financial institutions, channel partners and key customers. It is noted as one of the largest suppliers of AMD dual Opteron-based motherboards and systems, and Roy Han, CEO, has been noted as one of the industry's leading authorities on integrated storage topologies. Company information may be found at http://www.mtcusa.com
ADVC back in biz News
Pacific Magtron Signs Interim Management Agreement With Micro Technology Concepts
Transaction Will Provide Means for Pacific Magtron to Operate While Joint Venture is Submitted for Approval by the Court
6/16/2005 2:39:28 PM
NEW YORK, June 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Advanced Communications Technologies, Inc. (ADVC) and its majority owned subsidiary, Pacific Magtron International Corporation (OTC Bulletin Board: PMIC), announced today that effective June 7, 2005, Pacific Magtron, Inc., an operating subsidiary of Pacific Magtron International Corporation ("PMIC"), has signed a definitive Interim Management Agreement with Micro Technology Concepts, Inc., a wholly owned subsidiary of MTC Direct and a privately held California-based distributor of storage and media products. As a result, Pacific Magtron, who is currently under Chapter 11 bankruptcy protection, will be able to continue operations distributing computers, peripherals and components to customers from its current location in Milpitas, California.
Under the terms of the agreement, which was approved by the bankruptcy court yesterday, Micro Technology Concepts will, for a period of 60 days, or upon earlier approval by the court of a proposed joint venture, manage the operations of Pacific Magtron's business and supply the company with merchandise to ensure ample inventory and uninterrupted service to Pacific Magtron's customers. In return, Micro Technology Concepts will receive a fee in the form of a percentage of the gross margin generated by Pacific Magtron's sales. Micro Technology Concepts is Pacific Magtron's largest vendor and secured creditor, and has been the company's supplier for several years.
The signed agreement provides an opportunity for Micro Technology Concepts to expand its U.S. customer base. Additionally, and subject to approval by the court, both parties have agreed to enter into a binding joint venture, to be named Pacific Connections, LLC. Under the terms of the joint venture, Pacific Magtron will receive 50% of the profits generated by Pacific Connections during its first two years of operations in return for its trademarks, goodwill, customer relationships and access to staff. Pacific Magtron's profits generated by Pacific Connections will be used to satisfy creditors of Pacific Magtron. In addition, Pacific Connections will assist in selling Pacific Magtron's remaining inventory and collecting its accounts receivables without additional fees.
Martin Nielson, chairman and chief executive officer of PMIC, stated, "This new relationship with Micro Technology is an important first step in the re-launch of the company and provides the basis for a solution for Pacific Magtron's creditors." Nielson continued, "When the company filed for voluntary bankruptcy because it could not continue operations, we were determined to find an operating partner to manage our legacy business and protect our creditors. I am confident that Roy Han, president of Micro Technology, and his team of motivated seasoned professionals will prove to be a productive partner in serving our customers while we work together to secure approval for Pacific Magtron's reorganization plan."
"I believe that we are a superior fit for Pacific Magtron's computer, peripheral and software distribution business," said Han, adding, "I have been doing business with this company for over ten years, so we already know that we can work well together, which gives us an immediate advantage in making this effort successful. Restoring Pacific Magtron's customer service and creating future value for our businesses under one company name once the joint venture is consummated will be our collective goal." Han closed, "We are committed to supporting Pacific Magtron's reorganization and look forward to working more closely with their team."
Wayne Danson, president and chief executive officer of Advanced Communications, said, "We have been working very closely with PMIC's management and with Roy Han to bring this planned joint venture to a proper conclusion. This represents the first in a series of new strategies that we intend to execute in support of our overall plan and investment in PMIC."
About Advanced Communications Technologies, Inc.
Advanced Communications Technologies, Inc. is a publicly traded New York City-based technology and services holding company that, through its majority owned subsidiary, Pacific Magtron International Corporation, is a distributor of hardware components, computer systems and software products and, through its wholly owned subsidiary and principal operating unit Encompass Group Affiliates, Inc., is a provider of board-level repair of technical products to third-party warranty companies, OEMs, national retailers and national office equipment dealers. Service options include advance exchange, depot repair, call center support, parts and warranty management for office equipment, fax machines, printers, scanners, laptop computers, monitors and multi-function units, including high-end consumer electronics such as PDAs and digital cameras. Additionally, through its wholly owned investment subsidiary Hudson Street Investments, Inc., Advanced Communications makes strategic minority investments in public and private companies. For more information, visit Advanced Communications' website at http://www.advancedcomtech.net .
A profile for investors on Advanced Communications may be found at the website http://www.hawkassociates.com/advancedcommunications/profile.htm .
An online investor relations kit containing Advanced Communications' press releases, SEC filings, current Level II price quotes, interactive Java stock charts and other useful information for investors can be found at http://www.hawkassociates.com and http://www.hawkmicrocaps.com .
About Pacific Magtron International Corporation
Pacific Magtron International Corporation, based in Milpitas, California, and currently operating under Chapter 11 bankruptcy protection, was a distributor, e-commerce reseller and system/solution provider of a wide range of systems, hardware components and software with a historically significant presence in online sales. Its customer base included a wide spectrum of technology-based suppliers to the consumer, corporate, education and government markets. Pacific Magtron, Inc., its wholly owned subsidiary and principal operating business, has offered over 1,800 different computer products from more than 50 vendors including a line of peripherals sold under its trademarked "EZ-Media" brand name. It maintains long-standing relationships with many of the industry's most recognizable and innovative computer peripheral manufacturers, including Microsoft, Sony, Plextor, Creative Labs, Adaptec, ATI, Kingston and Logitech, among others. For more information, visit Pacific Magtron's website at http://www.pacificmagtron.com .
About Micro Technology Concepts, Inc.
Micro Technology Concepts, Inc. is a wholly owned subsidiary of MTC Direct and a Southern California-based provider of mass storage solutions. It is an independent hard disk drive and mass storage product distributor, with over 2,500 storage resellers worldwide and approximately $400 million in revenue. Micro Technology Concepts has offices throughout the United States, Europe and Asia and has been ranked by VAR Magazine as one of the top storage VARs since 1999. While focusing on its core business as a mass storage specialist in the industry, Micro Technology Concepts has been actively pursuing emerging storage-related growth opportunities through mergers, acquisitions and by partnering with its technology alliances, financial institutions, channel partners and key customers. It is noted as one of the largest suppliers of AMD dual Opteron-based motherboards and systems, and Roy Han, CEO, has been noted as one of the industry's leading authorities on integrated storage topologies. Company information may be found at http://www.mtcusa.com .
I met PRRM & it's no IVAN LOL eom
Great News PRRM not lower LOL eom
Not Being Straight with Investors LOL!
News for 'OCA' - (The Pomerantz Firm Charges the Orthodontic Centers of America with Securities Fraud for Not Being Straight with Investors -- OCA)
NEW YORK, Jun 15, 2005 (PRIMEZONE via COMTEX) -- Pomerantz Haudek Block
Grossman & Gross LLP (http://www.pomerantzlaw.com) has filed a class action
lawsuit on behalf of purchasers of securities of the Orthodontic Centers of
America ("OCA" or the "Company") (NYSE:OCA) during the period from May 18, 2004
through June 7, 2005, inclusive (the "Class Period"). The complaint was filed in
the United States District Court, Eastern District of Louisiana.
The Complaint charges that OCA, which provides management services to
orthodontists, and its two senior officers, Bartholomew F. Palmisano, Sr., (CEO)
and David E. Verret (CFO), defrauded investors by improperly recognizing
revenues. On June 7, 2005, OCA announced that the Company was unable to file its
already delayed year end report for 2004, and needed to restate its quarterly
financial statements for 2004. OCA admitted, among other things, that it had
materially overstated its patient receivables and patient revenue for the first
three quarters of 2004. Following this announcement, OCA's stock price plummeted
by $1.53 per share, to close at $2.50 per share, and has since fallen further to
under $1.50 per share, a total drop of more than 66%.
If you wish to review a copy of the Complaint, to discuss this action, or have
any questions, please contact Teresa L. Webb (tlwebb@pomlaw.com) or Carolyn
Moskowitz (csmoskowitz@pomlaw.com) of the Pomerantz Firm at 888.476.6529 (or
888.4-POMLAW), toll free. Those who inquire by e-mail are encouraged to include
their mailing address and telephone number.
The Pomerantz Firm, which has offices in New York, Chicago and Washington, D.C.,
is acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 50 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of class members. For more information about the Firm,
visit our web site at http://www.pomlaw.com.
More information on this and other class actions can be found on the Class
Action Newsline at www.primezone.com/ca.
SOURCE: Pomerantz Haudek Block Grossman & Gross LLP
By Staff
CONTACT: Pomerantz Haudek Block Grossman & Gross LLP Teresa Webb (888) 476-6529 (888) 4-POMLAW tlwebb@pomlaw.com
(C) 2005 PRIMEZONE, All rights reserved.
PC to Car Parts sign of times? lol
13:30 06/16/2005 CPAQ Computer Access Intl Inc Common Stock DPPT Dispatch Auto Parts, Inc. Common Stock 1-200 R/S **
ALT just neg cash flow issue
From checking it that's main drain. No debt helps and has
a price action of rebouncing. Amex treats these bios in
funny way. Sometimes they run a HIV then it lies flat.
Suspect this may regain legs. No fill at 0.23
SSTY jiggy and SMTR morning attack hits it.
#18 this Request List PRRM
Most popular quote requests (inside) IGTN up to #31 today!
100 , POPULAR REQUEST LEADERS , As of Wed Jun 15 08:50:24 EDT 2005
1 CMKX
2 AWBV
3 QRVI
4 HWPR
5 MAGR
6 TGTL
7 QBID
8 EMXC
9 PLNI
10 HISC
11 MSITF
12 TNOG
13 EMTI
14 CTKH
15 ICAN
16 WNDXQ
17 PGPU
18 PRRM
19 HCCF
20 WWEN
21 JTPI
22 GTRD
23 TTRIF
24 ADLU
25 ESIUF
26 BKBO
27 MLON
28 XYBR
29 OBDP
30 INTK
31 IGTN
32 AUCC
fwiw WFTV on SHO list -others
seeing .ob AXAI CRGO NNNC (1:400 r/s) RVNM
/Ps GLKC NNOS SGGM WFTV
per Today's ClipReport: http://www.knobias.com/clipreport/clipreport.pdf
Track Data Insider trading lol
News for 'TRAC' - (=DJ SEC Charges Track Data CEO With Insider Trading >TRAC)
(This article was originally published Tuesday)
WASHINGTON (Dow Jones)--The Securities and Exchange Commission charged that Track Data Corp. (TRAC) Chairman and Chief Executive Barry Hertz and some of his relatives traded on inside information about the financial-services company in 2003.
Hertz sold company stock before Track Data announced big declines in revenue in the second and third quarters of 2003, avoiding losses when the stock price dropped on the news, the SEC said. The SEC claims Hertz bought shares for his sister's account in August 2003, knowing the company was about to announce its first-ever stock dividend. Track Data's stock price rose 19% when the dividend payment became public, producing a $13,000 profit for the sister's account, according to the SEC.
The SEC is seeking a court order to fine Hertz, force him to return trading profits, with interest, and bar him from serving as a corporate officer or director.
Hertz's attorney couldn't immediately be reached for comment.
-By Judith Burns, Dow Jones Newswires; 202-862-6692; Judith.Burns@dowjones.com
(END) Dow Jones Newswires
June 15, 2005 07:32 ET (11:32 GMT)- - 07 32 AM EDT 06-15-05
lj Easy there big fella
Just pointing out the obvious that they got snookered.
That has to be acknowledged. True we don't know what
is ahead but helps to know where they are coming from
and maybe why the awful price for what appears to be
a still going concern.
I'll well aware, thru losses, of all the pretty
word-spinning from companies and how that has been a
kiss of death in the past if they were at death's door.
It's like the final kick in the ass to any bagholders
who were dumb enough to still be around.
Truthfully don't sense same death door here. But then
I've been wrong before. Cross fingers.
oops not <$1 MVOG $1.84 $823.5k Pump
Just got a Homerun, Naples FL glossy home mailer. Geez these guys are getting some fat shareholder loot for promos!
Guess someone is paying his bar and pier bill this month.
Man, nearly a Mil for a Pump on a Penny!!
Maverick Oil and Gas. OTCBB But this is special as it is the
first time Homerun is doing a second Pump on a stock.
Says Feb Pump ran it for a double in next 12 weeks. Looks
like it did go 1.75 to tip 3.56 in March.
Can they do it again? lol
Hope so for shareholders sake.
same here Izone on divy
See same # of shares still, but with the old name of
N'tl Hosp Group. Hover cusor over the little square on
far right side & see the name pop up.
Ain't Izone a bit of a mess. Hardly any fills either.
Got 10+ open orders LOL
ALT .24 -.05 Amex
Blasted again. Either becomes a dead money HIV thing or
finds a bounce bottom @0.18 Seem right after its drug failure news and gap down?
ADVC they limited upside...1:1K?
Yup gotta agree. Struck same tone with me.
Also the part about holding a shareholder meeting later!
Only things against this are maybe it has enough dough not
to feel needs R/S to "gain higher price appreciation" and
maybe they'll make some dollars by then.
Certainly caps the stock's price appreciation to know that
it is one hurting puppy. Deceived management, directional
change, etc. Sounds like wheels off the cart to those
who might be looking to enter long.
See it stall at best?
R/S prob be a 1:1000 at its level of $ and OS.
Schwab May trades down
UPDATE 2-Schwab May trades fall as clients stay sidelined
Tue Jun 14, 2005 11:37 AM ET
(Adds CFO and analyst comments, byline.)
By Chris Sanders
NEW YORK, June 14 (Reuters) - Charles Schwab Corp. (SCH.N: Quote, Profile, Research) , the largest U.S. discount brokerage, on Tuesday said customer stock trading in May fell 7 percent, compared with April, as a lack of market volatility dampened clients' desire to trade.
But the company has seen trading activity improve slightly in June, Chief Financial Officer Chris Dodds told Reuters in an interview. Schwab shares fell nearly 2 percent in early trading.
"May trading activity was a bit more subdued than April's levels, in part due to some relatively sideways market conditions," Dodds said.
The company is comfortable with analysts' estimates that the discount brokerage will earn 13 cents a share in the second quarter, Dodds said, adding that he does not see any reason to back off from the company view that it will earn 50 cents a share in 2005.
Wall Street analysts had forecast the company would earn 53 cents a share on average in 2005, according to Reuters Estimates.
Daily average revenue trades totaled 169,400 in May, down 7 percent from April, but up 25 percent from a year earlier, Schwab said in a statement.
Fox-Pitt, Kelton analyst David Trone wrote in a research note that asset inflows and trading activity were modestly lower than his expectations.
"The trends are slightly worse than expected, but with equity markets still down on the year, this is not too surprising," he wrote.
Net new assets brought to the company by new and current clients in May 2005 totaled $3.9 billion, compared with $4.4 billion a year ago, as its mutual fund clearing and 401-K businesses slowed.
Last week, Schwab rival Ameritrade Holding Corp. (AMTD.O: Quote, Profile, Research) said its average client trades per day during May fell to their lowest monthly level since September.
At the end of May, Schwab cut its fees for online options trading -- the third time in six months that it lowered some fees -- underscoring the stiff competition among online brokers. Schwab, E*Trade Financial Corp. (ET.N: Quote, Profile, Research) , and Ameritrade are embroiled in a price war to attract and retain customers.
Schwab said total client assets were $1.092 trillion at end of May, up 11 percent from a year ago and up 3 percent from a month earlier.
San Francisco-based Schwab said client daily average trades were 190,300 in May, down 7 percent from April and up 27 percent from a year earlier.
Schwab shares were down 21 cents at $11.59 in early trading on the New York Stock Exchange.
© Reuters 2005. All Rights Reserved.
hedge fund & firm short OTCBB
Firm Is Accused of Aiding Violations of Short Sale Rules
By FLOYD NORRIS Published: June 14, 2005 NY Times
A stock market regulator said yesterday that a small Pennsylvania firm helped a hedge fund manager evade short sale rules for a decade, enabling the hedge fund to make large profits.
A complaint filed by the Department of Market Regulation of NASD, which regulates brokerage firms, said Scott W. Ryan and his brokerage firm, Ryan & Company in West Conshohocken, made it possible for the hedge fund to sell short the shares of a long list of over-the-counter stocks from 1993 through 2003.
Short sellers borrow shares and sell them, hoping to profit if the price falls. If that happens, the investor can buy shares at a lower price and return them to the lender. But in general, investors are not permitted to sell shares short if they are unable to borrow them.
There is, however, an exemption to that rule, allowing a market maker to sell short in the course of making a market in the security.
The NASD complaint, which will be heard by an agency hearing officer, asserted that Mr. Ryan wrongly claimed that exemption. It said he was not really a market maker in the securities, but registered as one to make it possible for the hedge fund manager, who was not identified, to sell shares short even though they could not be borrowed.
Reached by telephone, Mr. Ryan said he was innocent and would contest the accusations.
"I believe I acted within the rule," he said.
NASD previously barred Mr. Ryan from the brokerage business after concluding that he had not cooperated with its inquiry into short selling. Mr. Ryan said yesterday that he had cooperated and that he believed that he was being treated unfairly.
According to NASD, Mr. Ryan sold the stocks short, but with agreements that transferred all the risk and benefit of the trade to the hedge fund, in return for substantial fees.
NASD said that in the second half of 2002, Mr. Ryan sold 97 over-the-counter securities short at the request of the hedge fund. It gave figures for 16 of them, saying Mr. Ryan made profits of $235,000 on the transactions while the hedge firm cleared at least $1.3 million. The stocks involved were not listed on any market, but instead traded on the Nasdaq bulletin board.
The regulator asked the hearing officer to order that Mr. Ryan and his firm forfeit both the money they made and the profits of the hedge fund manager, which is not a broker and thus not subject to NASD regulation.
fly me to da Moon hmmm
Well at least they filed. More than most of these POS can
manage. Course even when they do file they still tank, ha.
Seriously tho. They do write a pretty letter. All glowing
and positive for times ahead. We'll see. Anyone can
promise a pig in a poke.
They already have proved they can be fooled.
Can they prove they can learn?
WFTV has Bloomberg TV & surf
Damn this so cool. Switch from tropical storm causing some
surf at Fort Lauderdale (static cam on beach & parked cop
car as some cars go by), to Times Square to Bloomberg TV.
PC to phone thingie works neat too. Geez what's not to like!
http://www.wi-fitv.com/
it has been "MONTHS!!" Ditto eom
Welcome stranger. Join in.
BOSTON, Jun 07, 2005 (AP Online via COMTEX) -- On April 25, Gregory Despres arrived at the U.S.-Canadian border crossing at Calais, Maine, carrying a homemade sword, a hatchet, a knife, brass knuckles and a chain saw stained with what appeared to be blood. U.S. customs agents confiscated the weapons and fingerprinted Despres. Then they let him into the United States.
The following day, a gruesome scene was discovered in Despres' hometown of Minto, New Brunswick: The decapitated body of a 74-year-old country musician named Frederick Fulton was found on Fulton's kitchen floor. His head was in a pillowcase under a kitchen table. His common-law wife was discovered stabbed to death in a bedroom.
Despres, 22, immediately became a suspect because of a history of violence between him and his neighbors, and he was arrested April 27 after police in Massachusetts saw him wandering down a highway in a sweat shirt with red and brown stains. He is now in jail in Massachusetts on murder charges, awaiting an extradition hearing next month.
At a time when the United States is tightening its borders, how could a man toting what appeared to be a bloody chain saw be allowed into the country?
Bill Anthony, a spokesman for U.S. Customs and Border Protection, said the Canada-born Despres could not be detained because he is a naturalized U.S. citizen and was not wanted on any criminal charges on the day in question.
Anthony said Despres was questioned for two hours before he was released. During that time, he said, customs agents employed "every conceivable method" to check for warrants or see if Despres had broken any laws in trying to re-enter the country.
"Nobody asked us to detain him," Anthony said. "Being bizarre is not a reason to keep somebody out of this country or lock them up. ... We are governed by laws and regulations, and he did not violate any regulations."
Anthony conceded it "sounds stupid" that a man wielding what appeared to be a bloody chain saw could not be detained. But he added: "Our people don't have a crime lab up there. They can't look at a chain saw and decide if it's blood or rust or red paint."
Sgt. Gary Cameron of the Royal Canadian Mounted Police would not comment on whether it was, in fact, blood on the chain saw.
On the same day Despres crossed the border, he was due in a Canadian court to be sentenced on charges he assaulted and threatened to kill Fulton's son-in-law, Frederick Mowat, last August.
Mowat told police Despres had been bothering his father-in-law for the past month. When Mowat confronted him, Despres allegedly pulled a knife, pointed it at Mowat's chest and said he was "going to get you all."
Police believe the dispute between the neighbors boiled over in the early-morning hours of April 24, when Despres allegedly broke into Fulton's home and stabbed to death the musician and 70-year-old Veronica Decarie.
Fulton's daughter found her father's body two days later. His car was later found in a gravel pit on a highway leading to the U.S. border. Despres hitchhiked to the border crossing.
After the bodies were found on the afternoon of April 26, police set up roadblocks and sent out a bulletin that identified Despres as a "person of interest" in the slayings, according to the Royal Canadian Mounted Police.
The bulletin caught the eye of a Quincy police dispatcher because it gave the suspect's Massachusetts driver's license number, missing a character. The dispatcher plugged in numbers and letters until she found a last known address for Despres in Mattapoisett. She alerted police in that town, and an officer quickly spotted Despres.
In state court the next day, Despres told a judge that he is affiliated with NASA and was on his way to a Marine Corps base in Kansas at the time of his arrest.
After the case was transferred to federal court, Despres' attorney, Michael Andrews, questioned whether his client is mentally competent.
Fulton's friends in Minto, a village of 2,700 people, told the New Brunswick Telegraph-Journal that he was a popular musician, a guitarist known as the "Chet Atkins of Minto" and a 2001 inductee in the Minto Country Music Wall of Fame.
Yes - Izone options info.
I was with Freetrade since it began. Never traded options
nor knew how well it was. Stocks at FT were the best. Izone
as mentioned by prior poster...slower fills, no price breaks,
costs more per trade, charges extra for RT News, Lvl II, Streamer quotes (but see below).
On plus side. Site is more solid (FT had some outages).
There are a few Easter Eggs I won't mention cause they
might end them. just think along lines of a sweet stream
of quote info...your Ports are now RT (were delayed). And
it still plays nice w/ QTracker. There is some form of RT CBSMW News. ACH feature is a blessing for free transfers to & from your bank.
I'm surprised some discounters don't do options. Is it
Lowtrades.com? Izone is hooked to AMTD so options ok.
That's the deal. g/l
Note, no AH in Options.
What option strategies does Ameritrade offer?
What option strategies does Ameritrade offer? Currently, we offer the purchase of long calls and puts, put writing, spreads, and covered and uncovered call writing.
How do I trade options?
How do I trade options? The equity and narrow based index options trading day is from 9:30 a.m. through 4:02 p.m. ET.
How are orders for options routed?
How are orders for options routed? Ameritrade's vendors select a routing venue based upon many criteria, including service, quality of execution and the exchange the option trades on.
What are the requirements to sell uncovered options?
What are the requirements to sell uncovered options? In order to write (sell) uncovered options, your account must have Full Options Approval(Level IV). (Use the Account Modification Form to request a change in the level of options approval on your account.) You must also meet both the initial and maintenance requirements for writing uncovered calls: The Initial and Margin Maintenance Requirement for an uncovered option is the GREATEST of the following three formulas: 30% of the market value of the underlying stock* or index value, MINUS any amount out-of-the-money PLUS the current market value of the option (premium).
ZANC = ZNNC FS 3:1
Where ya been?
http://biz.yahoo.com/bw/050427/275636.html?.v=1
Estimated Market Cap: Not Available
Authorized Shares: 11,428,572 as of 2005-03-11
Current Capital Change:
shs increased by 3 for 1 split. Payable upon surrender
Ex-Date: 2005-05-03
PennyM thx for WFTV phone news
In the stock and had checked site way back when about
the free movie bit from the CinemaPop part. Didn't
know about the PC to phone thingie tho.
Have tried all the others and most are still just
free when PC to PC. That's a drag when wanting to
call an older relative or friend that doesn't live
in Cyberspace.
I dialed my answ mach and it actually left my msg.
One of the others I tried just gave a busy signal.
The msg was kinda staticy but could be due to PC mic
being near the Panasonic combo and got some crosstalk.
g/l with this little one. Oh gotta check the TV launch
on Friday. How cool to run a little box w/ Yankee game
on it. Prob just get the replay but what the heck.
Just wonder what they'll get. Prob RVNM cartoon show
with the much beloved Gina (Demento) D show. haha
Ah here's the email just got from WFTV ads partner.
Free PC to phone in US & Canada. World is PC to PC.
At least for now.
This is the ad part. No biggie as long as they don't bug
you at home or in emails.
Refer Others and Earn Extra Income
Refer all your friends and relatives to download the FREE AdCalls phone dialer and earn 5 Cents each time they print a coupon from their dialer. You can earn $25, $50 or $100 a month extra income by simply telling everyone you know to become a free phone user member with AdCalls.`
We hope you enjoy your AdCalls FREE phone dialer and all the savings we bring you.
Sincerely,
AdCalls Support Team
For technical support, please feel free to email us at: support@adcalls.com
no HAGS need apply! eom
The Lion has PRRM & GXXL LOL
PRRM #26 on list along with GOOG! and CMKX har.
http://www.thelion.com/bin/forumlist.cgi?cmd=roar20
Don't see WFTV AAMI there yet. But CHINA ELN there. g/l
MYCM honest dilution LOL LOL
News for 'MYCM' - (Open Letter to Mycom Group, Inc. Stockholders)
CINCINNATI, Jun 03, 2005 (BUSINESS WIRE) -- Rob Bransom, Chairman and CEO of
Mycom Group, Inc. (OTCBB:MYCM) today released the following open letter to the
company's stockholders. Mycom markets a wide range of software, hardware,
enterprise solutions and technology services. The letter appears here in its
entirety.
June 3, 2005
Valued Stockholders,
The directors and officers of the Mycom Group, Inc., are aware that there may be
speculation and confusion regarding some recent corporate activities. We want to
provide our stockholders as much information as possible concerning the
company's recent reverse 1 for 10 stock split, plans for raising capital, and
our strategic business plan for the future.
In the Mycom press release, issued May 13th, Mycom's President, Jim Bobbitt
provided reasoning for the split:
"The reverse split, which provides flexibility to obtain new
capital, represents the first step in the Company's planned
financing strategy to enhance growth. We are currently in
negotiations with financial organizations, seeking funding
programs which will allow us to invest in advertising, marketing
and development of our sales organization. If we are successful in
raising capital, we should be able to more successfully introduce
and grow our new products. We also believe the stock split
combined with new capital we are seeking will allow us to consider
other growth opportunities such as merger and acquisitions."
The reverse stock split did not materially affect any stockholder's
proportionate equity interest in Mycom, nor did it change any rights of the
holders of common stock. After the split, the company had 90,000,000 authorized
shares of Common stock. Before the split, there were about 74,000,000 shares
issued and outstanding. Currently, after the split, there are about 7,400,000
shares issued and outstanding, which provide the company about 82,600,000 shares
that can be used for future funding.
The purpose of the stock split was to provide stock:
-- That could be registered and used to raise working capital for the company,
without having to approve and add more shares.
-- To raise capital that would be used to support a sales growth and marketing
program that includes extensive advertising of Mycom's award winning mycomPRO(R)
mailMAX(TM) e-mail security service and the introduction of the new mailMAX with
Encryption and planned introduction of mailMAX with Archiving.
-- To raise capital to support expansion of Mycom's direct and channel sales
organization
-- To raise capital to be used to reduce the company's debt, interest expense
and improve its credit terms with vendors. To help improve the balance sheet.
-- To provide stock that could be used for acquisitions or mergers that would
support the company's growth objectives.
It is worth noting that the above reasons also help facilitate the combined
activities of the Board, your officers and your investor relations firm to raise
interest about Mycom during our communications with institutions and individual
investors.
We recognize that some stockholders may have been investors of other stocks that
were split--without positive results. Our strategy in taking this action is to
enhance stockholder value. This initial step helps us avoid diluting the stock,
while obtaining capital, which in turn, should help us to increase revenues and
improve the balance sheet. We hope that you will consider Mycom's reasons for
taking such an action and that future performance will meet your expectations.
On behalf of the Board of Directors, thank you for your support of the Mycom
Group, Inc.
Sincerely,
Rob Bransom
Chairman, CEO
Mycom Group, Inc.
NOTE: This Mycom Group Letter To Stockholders may contain certain
forward-looking statements within the meaning of the "safe harbor" provisions of
the federal securities laws. Such statements are subject to certain risks and
uncertainties that could cause actual results or outcomes to differ materially
from those currently anticipated. Important risks and uncertainties, among
others, that could cause actual results to differ materially from those
described in these statements include the strength of the U.S. economy and other
factors. For additional information about Mycom Group, Inc. please refer to the
current Forms 10-KSB and 10-QSB as filed with the Securities and Exchange
Commission.
SOURCE: Mycom Group, Inc.
lj I meant glossy - USPS mailed
Thanks for the warning about the virus in spam emails.
I've seen those stories for several days now.
But I should have been more clear. These two were
GLOSSY in the mail to you promo pieces. Expensive ones
like the NAUC one was. You know the kind. Photos and
write ups. Plus the tiny type about involvements.
Difference here is neither are brand new like NAUC nor
did they have a screaming target projection of $10
Just thought I'd pass it along considering both actually
had a not have bad condition. That's the surprise. Most
of these are rat traps.
PS Think ADVC could use one of these!? Come to think
of it I haven't ever gotten a glossy mailed promo for
anything below 0.01
Must be some ethical thing on pumpers part. Like not
kicking a blind guy. har har
ESNR FNGC latest 2 gloss pumps
Got 2 sep ones tonight. Cost $450K cash for each
promo. ESNR promo from Naples FL Homerun other from Houston
Stock Trader News.
Actually they both look half way decent for pennies.
ESNR 1.61 FNGC .655 They are .OB have some Vols & Caps.
Just at qik glance they appear more solid than NAUC/AMRE
and you know how they played out. Course maybe they were
more massively promoted.
Promoter in E is cash only. F is cash & owns shares.
E is security bomb/gas detection, ZNose. 300K day vol
$131M 81M/81M A/O
15:1 1/24/05 see Can & Cal addresses
F is nat gas in TX & LA. day 763k
$40M 200M/62M A/O 5:1 4/12/04
5/9 vote reduce AS to 80Bil
100.2B at Pinksheets 11-11-04
Prime Rate Investors, Inc. Votes to Reduce Authorized Common Shares
Monday May 9, 11:08 am ET
STOWE, Vt.--(BUSINESS WIRE)--May 9, 2005--Prime Rate Investors, Inc.'s (OTC.PK: PRRM) board of directors announced it decided unanimously to reduce the company's authorized shares to 80 billion shares of PRRM common stock. As such, the shares are subject to all SEC and regulatory statutes. The company's share structure will be updated on and can be viewed at www.pinksheets.com.
PRRM President Dan Burgess asserted that the non-dilutive adjustment "will realize increased value to shareholders."
FEMO.bb quite a twitchy stock 0.028
Geez is this thing ever reversy. Ave 1Mil a day.
Some Revs, some cash, some debt.
Exps > Revs tho Revs increased a lot Y/Y
Sells cosmetics to college age girls. US & CAN.
Prob a share dilution to raise coin but it sure bounces.
Hey it ain't no Pinky...hard reversal down day.
Shares Outstanding: 61.34M
Float: 21.47M AS 75M
or:
Authorized Shares: 75,000,000
Source: 10-K ( 01/01/2005 )
Outstanding Shares: 40,501,773
Source: 10-K ( 03/30/2005 )
Fiscal Year End: June 30
Name change, RS, sell Shell
Notice how many of these dead subs sell themselves off
for paper to acquirer wanting the shell for a fast non-register CHEAP listing. Esp seen in Pinks more than .OB
This is looking like one of those as only path. ITWJ.pk
had that recently after long dead 0.0001
See also today's NYT story on how shell used to avoid
Rule 504 and costs. Many skinned cats & baggers.
The Con-Tex story involves a range of potential securities violations, according to lawyers and court records. But primarily, legal experts say, it is an example of the abuses that are possible in the sale of unregistered securities under what is known as Rule 504 of federal securities laws.
"This is the shadowy world of 504 offerings - which are, as often as not, associated with a certain amount of fraud or incompetence," John C. Coffee Jr., a law professor at Columbia University, said about the Con-Tex case after reviewing a bankruptcy examiner's report. "In his case, it doesn't look like the 504 offerings done here were done in compliance with the rules."
The potential violations at Con-Tex went beyond that, according to court records. The company issued misleading press releases, mistakenly took over the wrong company and allowed audits to be signed by an accountant who was unlicensed in Texas - and who may have never visited the company.
http://www.nytimes.com/2005/05/29/business/yourmoney/29bros.html?th&emc=th
Rule 504 abuse, NYT story
Incred read for micro cap share-shell-RS abuses! Amazing
what can be gotten away with! Story ranges from a mob
P&D thru plain old rip offs & fakes.
The Con-Tex story involves a range of potential securities violations, according to lawyers and court records. But primarily, legal experts say, it is an example of the abuses that are possible in the sale of unregistered securities under what is known as Rule 504 of federal securities laws.
"This is the shadowy world of 504 offerings - which are, as often as not, associated with a certain amount of fraud or incompetence," John C. Coffee Jr., a law professor at Columbia University, said about the Con-Tex case after reviewing a bankruptcy examiner's report. "In his case, it doesn't look like the 504 offerings done here were done in compliance with the rules."
The potential violations at Con-Tex went beyond that, according to court records. The company issued misleading press releases, mistakenly took over the wrong company and allowed audits to be signed by an accountant who was unlicensed in Texas - and who may have never visited the company.
http://www.nytimes.com/2005/05/29/business/yourmoney/29bros.html?th&emc=th
Saudi King Fahd has been taken to Hospital - DJ
12:13 ET In Play® Briefing.com
OT new Micro-cap index out soon. $25M min cap.
VTO Report Holiday performance
http://www.vtoreport.com/nasdaq/updown-holidays.htm
from another iHub board thx orangefluffycat (stroke)
http://www.investorshub.com/boards/board.asp?board_id=1804
HPNN.pk (HPON) Hop-on into India
News for 'HPNN' - (Hop-on Forms Corporation to Do Business in India - The World's 2nd Largest Emerging Market)
IRVINE, Calif., May 26, 2005 /PRNewswire-FirstCall via COMTEX/ -- Hop-on.com,
Inc. (OTC: HPNN) today announced that it has formed Hop-on Mobile India Private
Limited, a company incorporated under the laws of India, to facilitate the sale
and distribution of its CDMA and GSM handsets to customers in India. By having a
local presence, Hop-on will be working closely with local distributors that
fulfill the handset needs of Indian carriers. Hop-on plans to have its products
manufactured overseas and shipped in either fully assembled or in semi-knocked
down (SKD) form to its Indian company. With the anticipated purchase volumes by
Indian customers, wholesale prices are estimated under $55 (USD) for a
single-mode CDMA phone and under $40 (USD) for a dual-band GSM phone.
According to CDMA Development Group (CDG), the CDMA subscriber base in India has
increased more than 500 percent to 14 million users between December 2002 and
2004. Similarly, the GSM market is expected to experience rapid growth in India
in the coming years. According to a study by PricewaterhouseCoopers Pvt. Ltd.,
India's cellular subscribers base currently stands at approximately 41 million
users and is expected to reach 200 million users by 2007.
Dan Gannon, Chief Executive Officer of Hop-on, commented, "Our strategy of
having a local presence in key markets initially began in Mexico, where we were
able to generate positive sales results as a result of having the right product
for the market coupled with building brand awareness with consumers. By
replicating these efforts in India, we will have a local presence in the world's
second most populated country and one of the largest growth markets for wireless
phones. India has over 1 billion people and wireless subscribers represent less
than 20% of the population. As an emerging market, handset cost is an important
consideration for these carriers and based on our discussions and meetings with
many of these Indian carriers and distributors, we believe that we have
promising and sizeable opportunities in India that justify establishing a local
presence."
About HOP-ON, INC.
HOP-ON (OTC: HPNN) develops and markets wireless phones and accessories as well
as wireless surveillance systems. Its product line includes the next generation
CDMA2000 handsets designed by its Dallas R&D team as well as GSM/WIFI handsets.
Hop-on targets its phones to both emerging market carriers and other domestic
carriers and resellers needing an entry level priced phone. In addition, Hop-on
offers a line of innovative and attractively priced wireless accessories for
both Hop-on phones and other leading manufacturers as well as affordable,
wireless surveillance systems. Hop-on is also known for developing the world's
first disposable cell phone. It was an IS-95 CDMA phone that was sold to
consumers with prepaid airtime and included the capability to add on additional
minutes. For more information, visit http://www.Hop-on.com
CONTACTS:
David Pasquale, 646-536-7006 or Abbas Qasim, 646-536-7014
Both with The Ruth Group, http://www.TheRuthGroup.com
This news release includes 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, regarding, among other things, the Company's
business and financial plans, strategies and prospects. Although the Company
believes that its plans, intentions and expectations reflected in or suggested
by these forward-looking statements are reasonable, it cannot provide assurance
that it will achieve or realize these plans, intentions or expectations.
Forward-looking statements are inherently subject to risks, uncertainties and
assumptions. Many of the forward-looking statements contained in this news
release may be identified by the use of forward-looking words such as: believe,
expect, anticipate, should, planned, will, may, intend, estimated, and
potential, among others. Important factors that could cause actual results to
differ materially from the forward-looking statements made in this news release
include market conditions and those set forth in any reports or documents that
the Company may file from time to time with the United States Securities and
Exchange Commission. All forward-looking statements attributable to the company
or a person acting on its behalf are expressly qualified in their entirety by
this cautionary language.
SOURCE HOP-ON, INC.
CONTACT: David Pasquale, +1-646-536-7006, or Abbas Qasim, +1-646-536-7014, both of the Ruth
Group, for HOP-ON, INC.
URL: http://www.prnewswire.com
http://www.Hop-on.com
USXP slipping again -29% eom